16d • General discussion
Expats and/or content creators - PART 1 OF 3
PART 1:
If you are a content creators make sure you, “ASK YOUR TAX PROFESSIONAL” about Form 1099-NEC (Nonemployee Compensation) from companies paying you $600 or more, and potentially Form 1099-K from payment processors like PayPal for high transaction volumes, but must report all income, even below $600, on Schedule C (Form 1040) to detail your self-employment earnings and business deductions.
Key Forms to Receive:
- Form 1099-NEC: For service payments (brand deals, creator fund payouts, affiliate commissions) over $600 from a single source, sent by companies like YouTube, TikTok, or brand partners.
- Form 1099-K: For third-party payment processing (Stripe, PayPal) if you meet certain thresholds (historically $20k/200 transactions, but thresholds change).
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Expats and/or content creators - PART 1 OF 3
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