Submitting to US anthologies and so on

[Nick B]

I understand the way tax is done is different for authors in the US? How would that affect submitting short fiction to US magazines or publishers for anthologies? Would you still need to fill in one of the 'insert name here' tax forms that exempt you from paying tax at source?
I'm a little confused...

 

[Mouse]

It doesn't affect you at all. Anthologies and magazines usually pay a one-off fee for your story, usually straight into your Paypal account, and that's it.

I've dozens of short stories in US anthologies. The only time you'd have to do anything is if you were receiving regular royalties.

 

[alchemist]

It doesn't affect you at all. Anthologies and magazines usually pay a one-off fee for your story, usually straight into your Paypal account, and that's it.

I've dozens of short stories in US anthologies. The only time you'd have to do anything is if you were receiving regular royalties.

It's good to know my conscience shouldn't be bothered by the whopping $77 I got this week!

I hadn't even thought of tax consequences, tbh. And mine came to Paypal as well.

 

[Mouse]

I don't pay any tax on the payments I receive from Canada for the shorts I'm commissioned for. They go into Paypal (I guess if it then went into my bank, they'd be taxed there but I spend it before it goes that far!)

Ever sold something to someone in the US (or anywhere in the world) on ebay? They pay up, you send them their second-hand crap and everybody's happy.

 

[Nick B]

Okay, I did wonder if it was that simple for short stories and one off payments. To be squeeky clean though I guess it's just a case of adding into the end of year tax return.

Thanks folks