Does this mean we will now be getting instant payments into our Paypal or like payment service accounts upon each and every sale for the total list price? Will we be billed each month by Envato for their fee?
No they won’t do that for you, you have to set aside some cash if you plan to owe taxes. The first year after actually owing taxes from self employment or a business you have to make 4 estimated quarterly tax payments to the government. Can be done pretty easy online. It has to at the very least total the previous years tax bill.
Hope this helps a little bit.
Hello, will the 1099 we get from Envato reflect the total gross paid list price of item before the Seller to Envato fee is paid or will it simply reflect the total paid out to us on the 15th of every month times x’s 12?
Im praying its simply the 12 month payout total we receive on each 15th of the month. The first option will create a nightmare for us, red flags will be flying, almost certain to get some sort of Audit.
Yeah, 400+ entries! I think the competition produced so many great tracks (judging from just a small randomly picked portion I have listened to) that the most fair method would be to just run a random number generator to pick the winner. I am a bit bewildered with the upcoming “participants voting”. I certainly hope it Is going to be at least a pre-selected number of tracks, because simple math shows that one needs almost 7 hours to listen to just 1 minute of each entry!
Yep, exactly what I was thinking. The people who posted their song in the thread especially with a nice graphic will have the sure advantage.
I don’t mind getting a 1099-k at the end of the year that reports my monthly 12 payouts, the exact amount that goes into my paypal on the 15th, but if Envato give us some crazy reporting figure that gives us the total list price gross without deducting fee’s we are all screwed.
It will be a mess. Will probably cause a lot of audits and in a US. state like mine, NH, I don’t owe any state income tax unless I meet a threshold of Gross income then its a percentage of the whole thing. Basically if I grossed $49,999 no tax but if its 50,000 then I am totally screwed and getting taxed on whole amount. Every gross dollar counts.
This is a disaster not to mention the double reporting….
Just bought another item and now right at the point of sale screen you can also download with no sign of a rating box??? A user would then have to click on the download page to see it, but lets face it after a user downloads why would they then ever go to their download page, there is no need and now no chance of a rating.
This is a really strange set up.
Just bought an Item, after going to my downloads page and hitting the download button for the item purchased the star rating did not appear until I went out of my way to refresh the page.
No average user will refresh the page after download to get the star rating feature to then come up and rate. This needs serious attention.
Congrats Jamie, Here’s to many more!
Last year September was my worst month, I wasn’t expecting any huge difference between August and Sept. Hopefully things should be back in full swing by October though.