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Confused by Gross Revenue/Payout Discrepancy and Tax Information

A topic by DarkConsulGames created 34 days ago Views: 121 Replies: 2
Viewing posts 1 to 2

Hello, I was recently looking to do a payout, but I noticed a fairly sizable discrepancy between my Gross Revenue and Payout amount:


V.S

I looked on the forums and online and realized that there might be some sort of LLC tax, as well as other hidden payment processing fees not related to the site's 10% base cut. My question is, given my tax information status below, am I eligible for a reduced tax? It's an LLC in the U.S, although I'm not sure (embarrassingly) if we are an S corp or C corp so maybe I chose the wrong one? If that is what is causing this payout discrepancy, how do I go about editing the tax information, or if this is due to LLC status in general, is it more profitable to just do business as an individual? Thank you.

Also if it matters, I have a support ticket: 236444

The "Available Balance" before requesting payment is only an estimate and usually does not correctly reflect the tax withholding calculation.

The correct value, along with all the detailed information, is only shown in the final report once you request your payment. So it is normal to see a discrepancy before request your payment.

If you are a corporation, it is best to fill out all the tax information with the appropriate specialist, usually a company accountant or get advice from people who know the tax laws of the state where you have your company.

If it is better to be a company or an individual, it is also something that is better to get advice from someone who knows the laws of your state.

In my limited knowledge, the normal thing for a person is that Itch withholds a tax that is given to the IRS and then, when you file your return, it is calculated whether the IRS returns part of that withholding, but this is my experience as a person, do not take it as advice, especially if you are a company.

Thank you for the detailed reply. I'll definitely have to figure out if we are an S or C corp and get some advising, but for now I suppose I can just payout and see the details and final result. Thanks again!