Hi i joined the affiliate program in OCT 2023 and made but didn't start making 3000+ in commissions until this march. Under the tax forms tab, I only see the W9, when will the other forms appear?
Are only some samples write offs or all of them? I might as well just buy my own products then. And if a product is $20 sample, how much am I paying on it, all?
Kyle, great video. So clarification for sales done on TikTok Shop. Are there no reports for pulling data for quarterly taxes? Meaning, my LLC is in the state of Florida. Do sellers online have to file Quarterly taxes of is that just a year end thing because we are not selling locally in a brick and mortar store? I mean, it sounds like you are making estimated payments but based on what data from tiktok?
It sounds like you should also be making estimated tax payments. I’m not getting data from TikTok that’s related to my estimated payments. I calculate those numbers on my own (everyone does this). That’s what most people dislike about estimated payments lol - having to calculate what you’re expected to owe.
@@kyleyokoi So you are not filing quarterly sales taxes with your state? You are just filing at the end of the year based on the information in Form 1099-K?
@@ariskapsopoulos9715 No, I send my estimated tax payments to the IRS every few months. Every time money is deposited into my bank account I will set about 25% aside and send that to the IRS when the payments are due.
Haha you’re way too late on that one. The deadline for 2024 taxes has even passed. That sounds like something that you might need to reach out to a professional for.
i made a TT shop and was approved but it was closed the next day for "Shop Compliance Incorrect Registration Information - Shop Closure". Its bs because i haven't even uploaded a video yet. all my information was also correct which I double checked. do you know a work around for this? i already submitted an appeal
No workaround for that unfortunately. If you’ve already used your drivers license, passport and an LLC to create a seller center, the only option left is to purchase an account.
@@kyleyokoi i managed to get it appealed actually (after two weeks haha). but now when i go to my tiktok shop account i don't see the "product marketplace" button. how else can i do affiliate marketing. do i just add the product link directly at the end of a video?
This is by far the best explanation on taxes New follower here’s 👋
Very helpful. Thank you for making this video!
So if we link a printify store to a tiktok store, how do taxes work for that because they hold back taxes on printify for me
I'm looking for this exact answer
Hi i joined the affiliate program in OCT 2023 and made but didn't start making 3000+ in commissions until this march. Under the tax forms tab, I only see the W9, when will the other forms appear?
Hey new affiliate here. Running into the same issue you find a solution?
I see the W-9 but not the 1099 what do I do?
they're not available yet but should be ready by jan 31st
I’ve received the W-9 but not 1099 yet. Could I file online by myself?
Are only some samples write offs or all of them? I might as well just buy my own products then. And if a product is $20 sample, how much am I paying on it, all?
Made less than 600 dollars but don’t see a 1099 form do I still report what I made?
Yes
How many types of taxes you have to pay for your income as a Tiktok shop owner? What rates are these taxes?
Kyle, great video. So clarification for sales done on TikTok Shop. Are there no reports for pulling data for quarterly taxes? Meaning, my LLC is in the state of Florida. Do sellers online have to file Quarterly taxes of is that just a year end thing because we are not selling locally in a brick and mortar store? I mean, it sounds like you are making estimated payments but based on what data from tiktok?
It sounds like you should also be making estimated tax payments. I’m not getting data from TikTok that’s related to my estimated payments. I calculate those numbers on my own (everyone does this). That’s what most people dislike about estimated payments lol - having to calculate what you’re expected to owe.
@@kyleyokoi So you are not filing quarterly sales taxes with your state? You are just filing at the end of the year based on the information in Form 1099-K?
@@ariskapsopoulos9715 No, I send my estimated tax payments to the IRS every few months. Every time money is deposited into my bank account I will set about 25% aside and send that to the IRS when the payments are due.
I recently joined the affiliate program and I’m getting offered coupons for $50 off per coupon as a free sample. Are those taxable in anyway?
He what if we dont see the 1099k from 2023 to download because it is now 2024. Does that mean i waited to late to submit my 1099
Haha you’re way too late on that one. The deadline for 2024 taxes has even passed. That sounds like something that you might need to reach out to a professional for.
So I heard if you’re doing the workaround method that you should use a different email for the seller account and your TikTok account. Is that true?
I don’t see the benefit in doing that tbh. I’ve always used the same emails.
i made a TT shop and was approved but it was closed the next day for "Shop Compliance Incorrect Registration Information - Shop Closure". Its bs because i haven't even uploaded a video yet. all my information was also correct which I double checked. do you know a work around for this? i already submitted an appeal
No workaround for that unfortunately. If you’ve already used your drivers license, passport and an LLC to create a seller center, the only option left is to purchase an account.
@@kyleyokoi i managed to get it appealed actually (after two weeks haha). but now when i go to my tiktok shop account i don't see the "product marketplace" button. how else can i do affiliate marketing. do i just add the product link directly at the end of a video?
thank you
if i make less than $600 on affiliate do i still need to pay anything
Yes. Whether or not you receive a tax form from the platform, you should still report all of your earnings.
@@kyleyokoito do this should we take 30% out of every transaction we deposit into our account ?
Did anyone else get a call from tiktok after signing up as a tiktok seller?
I’ve never heard of this happening to anyone
@@kyleyokoi it was strange but the person on the phone knew the account name and asked if i was going to put up any products
@@ashwin2671scam