serious issue with getting paid from photo profits from Smugmug?

rosselliot

okay, so here is my problem, I'm 17, and I'm a dependant and listed under my mom and dad's household, and don't make enough with my photo business to actually file income tax...so how am I supposed to fill out the form that they want us to send in before they write us a check for the profits we've made by selling my photos?!

PLEASE help me with this, I'd REALLY REALLY appreciate some knowledgeable advice!

Thanks!!!!

- RE

Andy

rosselliot wrote:

okay, so here is my problem, I'm 17, and I'm a dependant and listed under my mom and dad's household, and don't make enough with my photo business to actually file income tax...so how am I supposed to fill out the form that they want us to send in before they write us a check for the profits we've made by selling my photos?!

PLEASE help me with this, I'd REALLY REALLY appreciate some knowledgeable advice!

Thanks!!!!

- RE

Ross, it's pretty simple: you MUST fill out a W-9 form before we can send you any profits. It's an IRS regulation. We just report the income to the IRS, and follow the rules.

Link: http://www.smugmug.com/help/reporting

If you have any other questions, just holler, we'll be here!

rosselliot

and then the IRS will recognize my social security number as that of a dependant and realize that I haven't filed for income tax before and realize I don't make enough...or do I have to fill out some other form before W-9 is sent....I think the problem may be that I'm not even going to be in their system, right?

Andy

rosselliot wrote:

and then the IRS will recognize my social security number as that of a dependant and realize that I haven't filed for income tax before and realize I don't make enough...or do I have to fill out some other form before W-9 is sent....I think the problem may be that I'm not even going to be in their system, right?

You will have to discuss that with an accountant, your parents, or www.irs.gov. I wish I had a better answer for you, but we can't and don't give tax advice, sorry - we just follow the rules of the IRS.

SteveM

Following Andy's lead, this is NOT tax advice but you're not required to file a tax return if you make under x dollars per year.

My suggestion to you is, being that you are a dependant, have one of your parents fill out the W9 and submit it, problem solved. Unless you're making 5 grand a year off of Smugmug, they'll pay a pittance in taxes on it and everyone should be happy. I assume the subscription to Smugmug is being paid through one of their credit cards, anyhow.

Good luck! I hope you don't go to Federal prison! KIDDING!

Scott_Quier

I really don't want to sound harsh, but...

The only advice worth anything is that which you receive from a working and paid professional.

If you're running a business (yes, I know you're still in High School, but younger folk have made millions before they graduate from HS), then run it like a business. Find a good accountant, pay the $100 for a short interview and go in with a prioritized list of questions. Get the authoritative answers and keep on keepin' on (oh, and continue shooting!!).

rosselliot

thanks, guys! I'll get dad to call our accountant and see what we should do. I didn't know it would be complicated...but of course, we ARE talking about the US government, don't know where I figured it'd be easy.

- RE