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?
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iOS iPhone and Tax Season
- Thread starter nomar383
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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.
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
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
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.
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.
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?