iPhone and Tax Season

Discussion in 'iOS Programming' started by nomar383, Jan 29, 2010.

  1. nomar383 macrumors 65816

    nomar383

    Joined:
    Jan 29, 2008
    Location:
    Rexburg, ID
    #1
    So I've ended up clearing a few hundred bucks since joining the developer program. Should I claim it on my US federal and state taxes? Does apple send out W2s? Is it even enough money for the government to care?
     
  2. Troglodyte macrumors member

    Joined:
    Jul 2, 2009
    #2
    I don't know about the US but the UK answer would yes, you need to declare it (and pay tax on it) otherwise you're breaking the law.
     
  3. RonC macrumors regular

    Joined:
    Oct 18, 2007
    Location:
    Chicago-area
    #3
    Yes, you are supposed to pay taxes on your income...

    Yes, you have to pay taxes on it. You can deduct expenses related to your app, such as development and marketing expenses. One piece of advice - if the dollar amounts you're talking about are substantial, go to a professional, otherwise TurboTax (or the like) can handle it.

    One last thing: don't expect a W-2 from Apple, unless you're a direct employee. Expect a 1099-MISC instead.

    RonC
     
  4. North Bronson macrumors 6502

    Joined:
    Oct 31, 2007
    Location:
    San José
    #4
    As far as deductions go, don't forget to deduct the 99 USD you paid to join the program.

    I seem to remember reading somewhere that there was a cut-off for self-employment taxes -- if you made less than a few hundred dollars you didn't pay. Look into that.
     
  5. nomar383 thread starter macrumors 65816

    nomar383

    Joined:
    Jan 29, 2008
    Location:
    Rexburg, ID
    #5
    I can write about half of it off to dev fees and books I purchased. If I do not receive a 1099-MISC, should I just claim it as self-employment income?
     

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