w-9

[gambler100]

What is the name of your state? orgeon i signed up for a searchfeed and sent w-9 now they wil send me my earnings amount from them but i only make 30% of the earnings the rest is expenses and my partner who is from china should i have any problem claiming only 30% profit

 

[FlyingRon]

Sent who a w-9. A w-9 goes to the government, not the person paying you. What did they send you back, a 1099? That will list all payments made to you. What entity (person, corporation) was the 1099 made out to? You need to deduct your business expenses on the appropriate filing (sched C for indivdiuals).

 

[LdiJ]

Sent who a w-9. A w-9 goes to the government, not the person paying you. What did they send you back, a 1099? That will list all payments made to you. What entity (person, corporation) was the 1099 made out to? You need to deduct your business expenses on the appropriate filing (sched C for indivdiuals).

Its incorrect that a W9 goes to the government. A W9 absolutely does go to the person who is paying you.

gambler, you have somewhat of a problem if all of the income is to be reported to you on a 1099. (which appears to be likely). If you were sending money to your partner in China, you may be required to report that on a 1099. If that is the case, then you should have been doing backup withholding because your partner is located outside of the country.

You need to see a local tax professional, who will be able to review everything more thoroughly.

 

[abezon]

You have a tax mess! You've got a partnership with a foreign partner in a tax treaty country. You definitely need an accountant with international experience.