I was reading through some old threads, and I see that webcam companies (if they are in the U.S.) send out a 1099 form in the beginning of the year. What do you do if your webcam company does not send out 1099 forms?



I was reading through some old threads, and I see that webcam companies (if they are in the U.S.) send out a 1099 form in the beginning of the year. What do you do if your webcam company does not send out 1099 forms?





^^^ you wait until April 14th and keep checking your mailbox for the webcam 1099 ... and only file your tax return without the webcam 1099 specifically listed if you'll miss the April 15th IRS tax return filing deadline.
You should still claim your income as an IC. You can simply make note of the source of the income just in case you get audited sometime in he next 10 years or so. Even if they don't issue you an actual 1099 form, they may have still filed your income as a tax deduction. If you don't claim your income from the website, the IRS can put the discrepancy together and come back on you for not claiming that amount.
Promote yourself and earn more money! This is a business that is owned by strippers for strippers. Let's make that money!







Is a 1099 the same as a W2 but for independent contractors?
Sorry if that's a stupid question, I'm still learning about all this stuff and don't understand exactly what a 1099 is.



^^^ I think so. It basically tells you how much you made for the year. Streamate, and any other webcam companies that are not in the U.S. don't send out 1099 forms.




A form 1099-misc details what the club/webcam site/private party company paid you out of their pockets. Credit card purchases from customers (whether online or in person) will be pretty much the only thing that shows up. So, if you don't have a line entry on your Schedule C explaining the 1099 amount dollar-for-dollar the IRS will view this as additional taxable income!!
Some clubs send this out because their accountants want to cover their asses, basically. Web cam sites probably have a legal obligation to if they are in the U.S., Melonie may add to this though.
If you made $24,000 in cash and $12,000 from the club then the 1099 will only represent that $12,000 amount, but on a cam site all of your income will be through credit and debit cards so your entire income should be represented on the 1099.
If you are willing to do for one year what other's won't, you can spend a lifetime doing what other's cant.



my old club didnt have 1099s. i just called my accountant, added up what i made (i kept bank statements as records) and he put it all together. i paid as an idependent contractor.
you know, since the company is based outside of the us, i would speak with an accountant on this.
Last edited by alice_island; 12-27-2009 at 01:15 AM. Reason: added something
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