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freelance designers

Sep 16
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Extremely Important Tax Rules for Freelance Designers in the United States

Wed, 09/16/2009 - 01:44 — julie

Do you have to pay taxes on earnings you make online?

I’ll make this short and sweet: YES! If you live in the United States, you owe taxes on any money you make, whether it be online, offline, or in some alternate universe that the IRS has an ability to track (and they will be able to track it, I promise).

Contrary to what your best friend’s cousin’s sister-in-law’s friend Bob may have said, money made online isn’t different from money made anywhere else. In fact, the only difference between the money that you make online and the money you might make from a US business is that the online company (ie: Envato) won’t be sending you a 1099 at the end of the year – which means it’s your responsibility to record those earnings.The fact is that you are responsible (by law) to report and pay taxes on all income, regardless of its source.

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