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Income Tax

A topic by Remy'sHomeAdventure created Jul 21, 2020 Views: 1,090 Replies: 4
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(1 edit)

1.- How will income taxes be paid? I intend to use the "Collected by itch.io & paid later". These are paid by itch.io and i get the final earnings only (only the royalties)? or do i have to pay taxes apart from the taxes withheld?  

2.- Also...what does ITIN have to do in all this? Is it mandatory?

3.- Are Income Taxes mandatory for foregin non-US sellers (well, rather, are these already in the tax withlehd?)

Some useful information here

-I live in Honduras, non-US citizen, alien

-Honduras and US have no treaty, so whether i apply for it or no, I know I still have the 30% withheld.

-I already filed a W8BEN-I form (edit)

Sorry the way its redacted lol, I am new at the tax thing

Thanks in advance!

(+1)

1) itch.io will do the taxes, they became the Merchant of record : https://squareup.com/us/en/townsquare/merchant-of-record

2) ITIN is needed for people not having any kind of record with the USA government. They created ITIN to make everyone pay taxes and yes it's mandatory.

3) Yes you still need to pay taxes, itch.io will help with that if you make enough money like $400 or more.

Thanks for the information :)


This is more of a tax related question though (this is me not knowing much about concepts) - Does income tax get deducted after itch.io takes its share, or its something done after i get my payout - that got me confused. and thanks again :)

(+1)

it's done after you get payout

thanks again :)

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