Google Adsense Tax - Internet Taxes

So you made money and now you are wondering will you get W-9 (extra income tax form - what I call internet taxes form).

Google Adsense will send you W-9 tax form because you work for them as contractor and yes there is certain amount of money that you have to get in order to get taxed.

Some say $600 which is normal rate for internet but yet this site www.adsensetaxes.com states $400

There is also some bad news. You may be subject to self-employment tax, if you made more than $400 your 1099-MISC. The current focus is on individuals, and not corporations or LLCs. Information for other business types and countries may be added later.

Reason to keep receipts from blogging ?

Reason I write about taxes today is because I am keeping all the receipts like Web Hosting, Upgrade of my laptop , New Laptop , Advertising ( text-link-ads, kontera, google adsense ).

All of those small and big expenses that I made I can deduct from my taxes, I treat it as a business, and even if I would treat it as hobby, I will still have to report W-9 tax, but you can not report all the other deductions.

So keep in mind that when you get for example $5.000-$10.000 or more internet income ( make money online ) then also remember that you will have to report that income and yes It could be that IRS will take 30-40% out from your earnings same thing as gambling when you are gambling and if you made over 2.500 or something like that you will have to pay taxes.

What happens if you don’t report taxes ?

Well its like not reporting your real work taxes so basically it is treated the same!

PS: I am not tax professional or something so all the statements above might change or can be false due to government tax change. Yet each case is different, for all I know is once I get my Google Adsense Taxes Income Statement I will report it.