I Made My First Sale!!!!!!!!!

[KillerRKO17]

I made my first sale today! I was almost on the brink of giving up, and today I checked my clickbank account and WOW! $20.03!!!

It was such an awesome feeling!!! I've been working at it every single day since July 31st, and to finally make my first sale just feels like the monkey is finally off of my back.

Now I really believe in myself that I can do this, it's just going to get better from here.

I owe you guys so much, I didn't know anything when I first joined this forum. With no posts or contributions right away started asking tons of questions and you guys were nothing but helpful right from the start and any other time. Especially I want to thank Linda.

 

[Linda Buquet]

You are very welcome! I am SO thrilled and happy for you! Way to go!

I know the 1st one felt like it took forever, but they will gradually start
coming faster now that you have the 1st one under your belt.

Now get back to work!!!! Go make us some money honey!

 

[oregongal]

Hey Killer - way to go! I know just how excited you are and how motivating making that 1st sale is! I was a pretty slow learner but I'm very tenacious. Even if things seem to go slowly, don't give up. Just remember, you haven't failed until you've given up!
Diane

 

[Larwee]

Congratulations to you KillerRKO17.

I know how disappointed you were for a while when things weren't going the way you were wanting them to.

The first sale gave you a great feeling. There will always be a good feeling when sales are made, but that first one is something special.

 

[jazzguy]

That's wonderful news Killer...it just goes to show ya that a little elbow grease and a small amount of discouragement can all be washed away with that one sale... Great stuff and here's to a bunch more sales to follow. Take care and all the best.

 

[KillerRKO17]

I only need a Tax ID if I make $600+a year, right? I mean if that holds true I'm sure my dad wouldn't have a problem if I've made 600 dollars without spending a dime.

Do they just use this for their reports or do they tax affiliates at all? If it is is it just something they deduct themselves?

 

[Linda Buquet]

No you don't need a tax ID at all. Some affiliates have them but most just DBA themselves and use their SS#.

What you are thinking about with the $600 number is this: you are liable for paying income tax on all income. Even if one network only pays you $100 you are still supposed to report it. HOWEVER any company you earn more than $600 with - they are supposed to 1099 you, which means they are reporting your income to the IRS. But again you are supposed to self report anything under 600. But $600 has nothing to do with tax ID and you never need to get one if you don't want to.

Networks and merchants that pay you never take out taxes. You are not an employee so you pay your own taxes.

Here's a thread about taxes and legal entities for affiliate marketers.
http://affiliate-marketing-forums.5...-corporation-just-other-income.html#post12914

But don't worry about any of that yet. Just keep making money and then figure it out before taxes are due. Be sure to keep good record of any expenses at all that go toward your business. Software, computer repair, marketing, etc.

 

[KillerRKO17]

I'm not 18 though, so...??

Aside from that question, let's say I'm 18. Say I make $500 a year, and I'm supposed to report it. What happens if I didn't. Will they like look into that?

 

[Linda Buquet]

I'm not 18 though, so...??

Aside from that question, let's say I'm 18. Say I make $500 a year, and I'm supposed to report it. What happens if I didn't. Will they like look into that?

Keep forgetting you are so young.

"What happens if I didn't." If they catch you I imagine you'd have to pay back taxes,
plus interest, plus penalties.

 

[jazzguy]

I'm not 18 though, so...??

Aside from that question, let's say I'm 18. Say I make $500 a year, and I'm supposed to report it. What happens if I didn't. Will they like look into that?

If your parent(s) know an account I would take a sec and have them ask him or her. I've learned the hard way that it is better to play by the rules when it comes to the taxman than trying to squirrel away a few bucks...it could come back to bite you in the a**. Best of luck.

 

[KillerRKO17]

Know I'm scared now. I don't know what to do. Hmmm.

So if my dad said he doesn't mind, would I have to put it in his name? Would he have to report it? Would it cost him any money, if so how much?

 

[jazzguy]

Don't be scared... To be honest I'm not sure if your dad would have to put his name on the check or not. Like I mentioned earlier, if your parents know a good accountant it would be wise to check with him or her. Also, you may want to find out from the affiliate network/program you are involved with to see if they have any suggestions for people under the age of 18 or 21. They, more than anyone, should be able to tell you exactly what needs to be done. I hope this helps. Take care and all the best.

 

[Linda Buquet]

Nothing to be scared of. Why would you have to put it in his name? I think I'm missing something, but the way I see it, I think it's fairly simple.

1) You don't even know how much or IF you'll make much money yet.

2) You just keep track of your income and expenses monthly in a spreadsheet or free account software.

3) You are required to pay ESTIMATED taxes quarterly. Since you are new and don't know what your income will be and until you start getting some regular checks, I'm not certain what the law is.

But typically if someone paid 20,000 in taxes last year. Then their estimated qtly tax would be 5,000. Then when you figure tax for that year you could owe more if you had a better year or get a refund if you made less this year and over paid. (in a quick abbreviated nutshell)

4) You tally up and pay taxes. If you make enough to get a few 1099s you include that reported income and the 1099s with your taxes. Any income you did not get a 1099 for you just add to your reported income.

5) At end of year if you've made a LOT of income it would be advisable to get a tax guy and/or accountant to help you and be sure you are taking advantage of all possible tax write-offs.

BUT AGAIN - don't ever take the word of anyone on a forum - even me. Tax laws are different in different states as well. Just use this info as a very general guide. Then ask your Dad and see if he can help you figure it out.

 

[jazzguy]

That's what I should have said... Great reply Linda...

 

[Linda Buquet]

OH AND... I would not worry too much right now!

You're heading into the busiest online shopping season of the year. "Make hay while the sun shines." Just worry about making money right now. You have nothing to worry about with taxes now so don't put a single ounce of energy into worrying about it.

Word hard! Make money! In February or so start thinking about taxes which will be due April 15th.

 

[myfreelance]

Congrats for your first sales. Im sure it feels really good. Finally, after working so hard your hard work paid off.

 

[davemclean]

Nice one mate, makes me feel better, I've been trying for about a month, and wondered what i was doing wrong, what did you do differently to make this sale, or was it just perseverance?

 

[taylor28]

Well done KillerRKO17 congratulations that's the only beginning of your success keep it up. Just always follow rules.

 

[Anomaly]

Congratulations ... I'm so impressed at how long you stuck it out ...

Take everything you've learned so far and keep going at it... try to get those sales coming through faster

 

[Ronald Marva]

First sale... congrats you've drawn the first blood! You'll like it better when it keeps on coming.