How are taxes handled?
The Sites In A Click shopping cart setup process allows you to specify in which states you are responsible for collecting sales tax. Any customers placing orders to be shipped to those states will be charged sales tax at the rate applicable for the ship-to zip code. The Sites In A Click shopping cart software will automatically calculate the sales tax that is applicable to that zip code. (Note: This only applies to orders paid for using credit cards. If an order is paid for using PayPal, PayPal will calculate the taxes on the order using the tax information setup in your PayPal account.
Most of the gains will be short-term capital gains. These gains are generally taxed at your own highest personal tax bracket. You will get a K-1 form before March 31 indicating the amount of gains you received. Usually the K-1 form will be sent out in mid-February. We cannot provide this form any sooner due to the wait-time for the appropriate tax forms to be sent to us from our brokers. These forms are not required to be sent to us until January 31.
You are responsible for any taxes that may be due on your payment. The amount of any taxes due is considered to be included in the total payment amount offered for the task. At this time, the system does not calculate or collect any taxes. If your tax authority requires that you collect or pay taxes on such transactions, it is your responsibility to handle this outside of the turn-key translation system. If you are unclear about your tax obligations for the use of this service, you are advised not to use the service at this time.
