Separate names with a comma.
Discussion in 'iOS Programming' started by ethana, Feb 3, 2009.
So no 1099-MISC paperwork from Apple.
Thanks. I was just going to post a question about this...
So we report this on a schedule C, then deduct our $99 developer fee, domain name and hosting fees, etc?
Yeah its just like Ebay, and Paypal they do not report your earnings so you don't have to worry about reporting if you do not want to!. But if your making 6 figures from the App store its best to report
Umm I would plan to report it if you're making even 3 or 4 figures. Technically I think the minimum amount is $400 or so.
You HAVE to report your earnings. It's not optional and not doing so could get you in significant legal trouble.
Note: I'm in the UK
Having once been in the situation where an accountant said everything correctly but actually did nothing and I got the the jaws of the tax man ....
small figures can fairly quickly get to be big figures, and having had it bad once whenever I get anything outside my PAYE wage I straight away dump 50% of it into my savings account, then when the financial year is over I always get a bonux even after I've paid the tax man anything.
I know it sounds silly saving half your money but you really should make sure at the minimum you save what you might have to pay in taxes (I do extra to be safe and so I get the bonus fun every year)