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Thread: Turobosquid and taxes

  1. #1
    Banned oDDity's Avatar
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    Turobosquid and taxes

    Are there any guys here from the UK selling stuff on turbosquid (there must be)
    I wanted to ask if you have to pay US tax on your profits. I was reading the exemptions PDF, but I have no head for such legal anf financial waffle and couldn't work out if it amounts to not having to pay any tax. I think it says that unless you are actually resident in the US or have an office there, you are exempt from paying tax on proft earned as a remote self employed person.
    Is that correct?

  2. #2
    no you don't pay the usa taxes is you do not live in usa...i've sold stuff on turbosquid for a few years now...i just pay uk tax on my earnings via turbosquid as a freelancer/sole trader you'd also be wise to set up the minimum limit to something like $250 per payment as banks will charge around £4 to proccess your usa based cheque

    you could also use paypay i think nowdays as well..
    stee+cat
    real name: steve gilbert
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  3. #3
    Banned oDDity's Avatar
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    Thanks, yeah I'll be using paypal. What forms did you have to fill in though? Do you have to fill in any IRS forms or anything?

  4. #4
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    I think I have to fill in form W-8BEN, but then it's saying something about having to apply for a ITIN number first.
    What exactly did you UK guys have to do when joining up?

  5. #5
    Huge Member mkiii's Avatar
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    I just used my UK National Insurance number in place of the TIN, made sure I ticked the box to not pay US taxes, and mailed them the form. No problems with paymenyt by cheque or paypal.

    If you opt for cheque payments, make sure you get them to hold back the payments until a reasonable figure is reached - I think I had it set to $300.
    Paypal payments are made automatically, but you should still store them until you have over $50 before you transfer to your bank.

  6. #6
    yeah that's it..was a few years back so i'm going from a hazy memory but looks to be right.
    stee+cat
    real name: steve gilbert
    http://www.cresshead.com/

    Q - How many polys?
    A - All of them!

  7. #7
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    Heh, thanks for the info, my mind really goes blank when I start reading legal forms like these.
    When you say you checked the box not to pay tax, do you mean the first one ?
    I certify that (check all that apply):
    a - The beneficial owner is a resident of (UK) within the meaning of the income tax treaty between the United States and that country.
    and did you fill in line 10?

    Special rates and conditions (if applicable—see instructions): The beneficial owner is claiming the provisions of Article of the treaty identified on line 9a above to claim a % rate of withholding on (specify type of income): .
    Explain the reasons the beneficial owner meets the terms of the treaty article:

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