Hi AWers!
Are there any things I need to be aware of tax-wise as a non-US person selling ebooks and paperbacks through my website and through other places like Amazon KDP and Amazon's author program thingy? Do I need to get an ITIN? I'm in the proccess of getting one... but I can't put my book on hold for months and months until the ITIN arrives.
Can I start using Paypal and Amazon to accept sales for both paperback and ebook sales? Will they put a freeze on my account at a certain threshold and force me to give them an ITIN--which might not have arrived in time?
Additionally, do the new tax rulings of 1099-K affect my usage of Paypal and Amazon? Like I said, I'm getting an ITIN but it will not be ready for months. But I gather that for foreigners who are non-US situated are exempt from 1099-K... but they have to file a form. I don't know whether Paypal freezes you out after the 200 transaction thing? Or whether they'll just nag you for it?
I'm going to call the IRS next week when I'm on a better phone plan, but right now I'm reading a lot of tax stuff which is going over my head.
Can anyone help? I have no idea what paperwork I might need eventually.
- Tod
EDIT: How do international AWers sell their stuff? Did you guys run into IRS paperwork redtape or did Paypal and Amazon ask you to fulfill any reporting requirements to the IRS?
Are there any things I need to be aware of tax-wise as a non-US person selling ebooks and paperbacks through my website and through other places like Amazon KDP and Amazon's author program thingy? Do I need to get an ITIN? I'm in the proccess of getting one... but I can't put my book on hold for months and months until the ITIN arrives.
Can I start using Paypal and Amazon to accept sales for both paperback and ebook sales? Will they put a freeze on my account at a certain threshold and force me to give them an ITIN--which might not have arrived in time?
Additionally, do the new tax rulings of 1099-K affect my usage of Paypal and Amazon? Like I said, I'm getting an ITIN but it will not be ready for months. But I gather that for foreigners who are non-US situated are exempt from 1099-K... but they have to file a form. I don't know whether Paypal freezes you out after the 200 transaction thing? Or whether they'll just nag you for it?
I'm going to call the IRS next week when I'm on a better phone plan, but right now I'm reading a lot of tax stuff which is going over my head.
Can anyone help? I have no idea what paperwork I might need eventually.
- Tod
EDIT: How do international AWers sell their stuff? Did you guys run into IRS paperwork redtape or did Paypal and Amazon ask you to fulfill any reporting requirements to the IRS?
I've already read that thread though 