Difference between W-9 and W-2 forms in the US:
Employers who pay you directly require a W-2 form be filled out which specifies withholding taxes. Your tax is taken out of your paycheck and you receive the net pay.
W-9 specifies independent contractor. No taxes are withheld from any employer, you are your own boss. You are responsible for your own taxes.
IMVU will issue a 1099 at the end of the year which defines Miscellaneous Income. It will not have any withholding taxes listed, nor Social Security, FICA or any of the moneys that standard employees have to pay per check.
Any additional information can be found at your government's tax bureau website, or in the US, the IRS website.
None of use are certified tax accountants and cannot give you financial advice. What I've said is easily found on the Internet and standard. We cannot state anything beyond that.
IMVU has not said that we can't transfer credits. Creators with alt accounts might not want to earn cash on those accounts and transfer credits from them to a main, for example.
I can send my friend credits for her birthday, for example.
To reiterate - Moderators are not staff, we volunteer, we receive no compensation for managing the forums. We do it because we care about keeping forums running smoothly.
I don't think any mods have even spoken to how they feel about this change.
We're just modding.
IMVU reserves the right to charge a $30 fee for more than one payout request in a month however, that does not mean they'll actually do it.
Some resellers are still buying, and they can do so until April 14 and all will be selling through May 13th.
Members will be able to stock up on reseller credits during that time.
Everyone in the derivation tree will be paid as per their mark up, in the manner that they have selected on the Creator Payout page. I could select to be paid cash. The person who derives from me might select to receive credits. The person deriving from them might choose cash. We will all be paid in our respective choices all down the chain.
If a customer pays with promo credits, we will all receive 1 dev token each. That part will not change.
Creators who are under 18 may check with their parents, and the tax office in their country. In the US, 16 year old's have jobs and with parental permission, younger people can work part time with provisional requirements. So check with the your tax office.
Joined: 27 Aug 2007 Posts: 1622 Location: USA - OH
Posted: Wed Apr 08, 2015 7:31 pm Post subject:
To quote Varsha:
First and foremost, we needed to re-evaluate the current (and expected) requirements by our partners regarding the way our Credit economy currently works. It was clear that we need to have a more direct relationship with our content Creators in the context of them earning money for products they sell in our Shop.
I want to know what happens if I don't sign the new creator agreement. Can I still create and only receive credits as payment, or am I being forced to give my personal info to IMVU even if I don't want to make any cash?
I have NO desire to convert any credits I make into cash at this point in time and I am not going to hand over any more of my personal information to IMVU.
Joined: 12 Jul 2006 Posts: 1325 Location: Australia
Posted: Wed Apr 08, 2015 7:34 pm Post subject:
So basically, what this is telling me, is if i don't have any tax identification, i'm screwed? Coz i've never been a high earner, i don't have a tax file number... so that's 8years of work on imvu completely wasted now... _________________
IMVU IF YOU KNOW THE YOUR ACTS WELL EVEN IM SURE YOU WILL REALIZE THIS.
Under the Fair Labor Standards Act of 1938 (FLSA) establishes minimum wage and overtime rights for most private sector workers, with a number of exemptions and exceptions. Thus, under this act IMVU is a private sector with private sector workers called creators. To further privatize and monetize these 'workers' is to accept the conditions of the act thereby enstating the minimum wage of $9.00 in accordance with California's minimum wage laws (for which IMVU's Office is located).
This is complete exploitation of Creators
a. Under-paid (since this is now a 'paid system')
b. Long hours to produce products (Sweatshop mechanistic labor)
c. Stripping of rights of both Creators and Community.
We are currently reserving the right to sue by nicely having a petition.
So IF YOU KNOW WHATS GOOD, THE CUSTOMER IS ALWAYS RIGHT.
Sorry i meant, the sweatshop workers are always right.
Self published, you still handle your own taxes.
You don't provide W9s. They give you your cut and you report the revenue with the recites given of the transactions.
You are self employed there.
In that example of an auther being paid by a published with W9s, the author is then on the publishers payroll...
As they are on the payroll, W9s are needed.
We are not.
So your example still holds no water.
In the best case scenario, IMVU is a place for freelance/independent contractors gather, much like etsy or ebay.
You can request our paypal info, no issue there, you need a system to pay out.
And from that you can take a hosting fee/subscription/seller fee.
But you do not need nor can require our W9s.
This is why I am calling the IRS.
^I think that's a good idea.
I'm going to call the BBB.
Form W-9, Request for Taxpayer Identification Number (TIN) and Certification
Use this form to provide your correct TIN to the person who is required to file an information return with the IRS to report, for example, income paid to you, real estate transactions, mortgage interest you paid, acquisition or abandonment of secured property, cancellation of debt, or contributions you made to an IRA.
This is actually a good thing for the community. The Dev artists on this site, majorly those of the Pro Status and use the Resellers as a means of income, have some sense of entitlement, a sense of being superior compared to those that are not artists or of lower tier than they are, or have a penchant for seeing everyone as leeches that only want to be their friendship for 'benefits'... or all of the above.
By removing the Resellers, there goes the income, without the income, the artists only on this site as a means of making income will either leave along with their poor attitudes, or find a new desire to dev and continue to benefit the community with their creations... Oh, and possibly turn those attitude problems into legitimate personalities.
Life is rough, finding work is even harder, but using a loophole such as resellers to stay afloat in life? This change is long since overdue and it's time to face the music.
PREACH! BAYWEAVE!! PREACH!!!
real talk, this is the worst thing i've read in this thread thus far. jesus christ.
I agree with akward... Take all the shots at imvu all you wanna... But not all devs act this way.. some of us are very good people just trying to earn a buck in a harsh society... _________________
So basically, what this is telling me, is if i don't have any tax identification, i'm screwed? Coz i've never been a high earner, i don't have a tax file number... so that's 8years of work on imvu completely wasted now...
Thats what im thinking. The people who have on IMVU the longest. Who work their asses off to draw, to mesh, to buy textures, to make textures, and so on. Is completely wasted just because IMVU wants more money in their pocket. Taking resellers off who kept MOST people who dev on the market is going to be a huge impact on IMVUs creating community. Not everyone is made of money.
Last edited by Chubbu on Wed Apr 08, 2015 7:36 pm; edited 1 time in total
All times are GMT - 8 Hours Goto page 1, 2, 3 ... 98, 99, 100Next
Page 1 of 100
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum