nick_harland 2 | 1
Apr 19, 2008 | #1
Im thinking of moving to the US and continue to write. If the company is based overseas then would i need to pay US Tax?
Paying tax on writing. S-Corporation?
Lavinia 4 | 495 ☆☆ Freelance Writer
Apr 19, 2008 | #2
The short answer is yes. The IRS wants you to report income from anywhere around the world.
Assuming that you would file as a self employed individual (Section C), then there are limitations. For example, if you earn less then 300$ from a company, they won't tax that.
You can find information on taxes and foreign income here:
irs.gov/businesses/article/0,,id=180946,00.html
Assuming that you would file as a self employed individual (Section C), then there are limitations. For example, if you earn less then 300$ from a company, they won't tax that.
You can find information on taxes and foreign income here:
irs.gov/businesses/article/0,,id=180946,00.html
sarah palin - | 3
Oct 24, 2008 | #3
Would you have to report income to the IRS if you were completing solely online research in electronic format or only for actual paper based research?
WritersBeware
Oct 24, 2008 | #4
As far as I know, if you make over $300 from a given employer, you must pay taxes. It doesn't matter "how" you made it.
Lavinia 4 | 495 ☆☆ Freelance Writer
Oct 26, 2008 | #5
Yup, electronic earnings are certainly still taxable.
Major 35 | 1449 ☆☆
Jun 11, 2010 | #6
S-Corporation - tax increase for writing and research services?
Hm, how about the recent proposal/changes to S-Corporations taxes? Will the change apply to 'essay writing business' too?
From: startupcompanylawblog.com/2010/06/articles/choice-of-entity/how-will-proposed-new-taxes-on-s-corporation-shareholders-affect-startup-technol ogy-companies/
I recommend using the "Complete" S-Corporation package
Hm, how about the recent proposal/changes to S-Corporations taxes? Will the change apply to 'essay writing business' too?
In Congress's latest tax bill, there is a provision which would take away the potential for employment tax savings for certain types of S corporations. The provision eliminates the employment tax savings structure for each shareholder of any "disqualified S corporation" who provides substantial services with respect to a "professional service business."
A "disqualified S corporation" is (i) an S corporation which is a partner in a partnership which is engaged in a "professional service business" if substantially all of the activities of such S corporation are performed in connection with such partnership, and (ii) any other S corporation which is engaged in a "professional service business" if the principal business of such business is the reputation and skill so 3 or fewer employees.
The term "professional service business" means any trade or business if substantially all of the activities of such trade or business involve providing services in the fields of
* consulting,
* engineering,
* investment advice or management,
* brokerage services,
* health,
* law,
* lobbying,
* architecture,
* accounting,
* actuarial science,
* performing arts, or
* athletics.
A "disqualified S corporation" is (i) an S corporation which is a partner in a partnership which is engaged in a "professional service business" if substantially all of the activities of such S corporation are performed in connection with such partnership, and (ii) any other S corporation which is engaged in a "professional service business" if the principal business of such business is the reputation and skill so 3 or fewer employees.
The term "professional service business" means any trade or business if substantially all of the activities of such trade or business involve providing services in the fields of
* consulting,
* engineering,
* investment advice or management,
* brokerage services,
* health,
* law,
* lobbying,
* architecture,
* accounting,
* actuarial science,
* performing arts, or
* athletics.
From: startupcompanylawblog.com/2010/06/articles/choice-of-entity/how-will-proposed-new-taxes-on-s-corporation-shareholders-affect-startup-technol ogy-companies/
WritersBeware
Jun 11, 2010 | #7
Hm, how about the recent proposal/changes to S-Corporations taxes? Will the change apply to 'essay writing business' too?
Well, I haven't yet looked deeply into that proposal, but a cursory glance tells me that it will not pass. It seems to be yet another attempt by liberals to tax the American people into the ground, which is especially disturbing given the current economic crisis. When the facts and potential impact of the proposed bill hit the airwaves, the People will stand in disapproval.
Major 35 | 1449 ☆☆
Jun 11, 2010 | #8
It seems to be yet another attempt by liberals to tax the American people into the ground
I agree, let's just hope something will dramatically change in November ;). If someone has any news or thoughts on that, let's discuss it here. For now I think the 'research and writing service' field doesn't belong to the proposed category.
Cite 2 | 1853 ☆☆☆
May 09, 2021 | #9
Just be on the safe side, Live an accountant to figure out how to pay your taxes. He can figure outyour actual category, along with everything else. It is always nice to come across a fellow capitalist willing topay taxes as a freelancer. I have come across those who would rather cheat the system whenever they can. It isn't about anybody trying to drain are of income. It's all about making sure there is money tobe had from the goverment when the need arises. Pay honestly, accordingly, and willingly to leap benefits in the end.
noted 8 | 2042 ☆☆☆☆☆
Dec 05, 2021 | #10
Sadly, electronically generated income is now in the sights of not just the IRS. but the rest of the tax collecting agencies across the world. These agencies do not understand that people in our position work within a variable income and we are faced with shouldering our office expenses, which cannot always be written off. Yet we continue to work in this job because the fact that we do not have to go to an actual office everyday already offers us some savings. Savings which we lose because of unfair taxing practices. Here's hoping the international tax codes eventually catch up with the 21st century workplace.
The opinions are that of the author's alone based on an individual capacity. Opinions are provided "as is" and are not error-free.