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I know that Patreon income is certainly not tax free, but what

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Thread replies: 12
Thread images: 2

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I know that Patreon income is certainly not tax free, but what if I never cash out of my "Creator balance?"

For instance, if I just rack up $$$ in my Patreon account, and then just use it to support other creators--would I still need to fill out their bs tax documents if I never actually cash out to my own bank account or paypal?
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>>1780769
I know that my salary is certainly not tax free, but what if I never withdraw from my "Bank account?"

For instance, if I just rack up $$$ in my BofA account, and then just use it to spend on goods and services--would I still need to fill out their bs tax documents if I never actually withdraw to my own wallet?

Anyway the answer is yes, OP, that income is taxable.
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>>1780782
>1780782
fug u
>>
>tfw my patreon is $0
>went up to $1 per month once, before I got a message apologizing for them making a mistake and misclicking

;_;
>>
>>1780811
I'm at 125 a month, but I'm probably going to close it because I don't want to fill out tax info. Fucking adult content.
>>
>>1780811
have you tried pretending you're a girl?
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>>1780782
But will they even know about it?

What if it's not tied to your actual person (not sure if it's possible but let's assume it is)?
Would there be a chance of the taxman knowing?
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>>1780833
You'd need to file taxes for the past regardless of closing it now. Patreon would also pay out your balance upon closure.

>>1781358
Moot point, since Patreon needs to know your real identity and they file tax records, including payments to your account.
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>>1781379
What if I'm not in the US, but not in a third world country?

Would they communicate the info to my country?
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>>1781380
Depends on the tax treaties your country has with the US. Most of the OECD member countries automatically exchange tax information with each other.
>>
>>1781382
Alright, thank you.
>>
>>1780871
Actually not a bad idea, pay a 19y/o asian cutie 10% to pose for some signed photos/worn panties/skype video call as patreon rewards, you could make good money
Thread posts: 12
Thread images: 2


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