independent contractors, so they ahve to pay their full Social security and Medicare. ~15% instead of the ~7.5% most of get taken out of our paychecks.
then, given the high income and likely zero deductibles, they're paying the highest fed income tax rate.
Seeing as people donate and sub to watch streams that are free I'd say the Twitch community is pretty fucking stupid. The cherry on top is the streamers they donate to will never have to work a day in their life if they retire.
I follow the wise words of a coworker, "You never give away money". I only put my money where I get something in return.
Well if I could watch the movie at the cinema for free I would do it. Streamer content is free for everyone. But granted I'm talking mostly about the big streamers, I know theres many that struggle but I don't donate cash ever, the prime sub is different though I agree.I've yet to donate actual $ to any twitch streamer but I have used my Prime sub... That said... Most streamers will not be able to retire off Twitch revenue.
Also, to put things in perspective, Hollywood has paid people much more for doing much less.
I'm sure you've watched a movie or tv show at least once in your life.
"getting something in return" is a fairly subjective stance to take.
Everyone that makes more than 600 dollars a year gets a 1099 form from Twitch and their income reported to the government. They would pay taxes at insane rates, having to pay the full social security and medicare tax.10,000 Thots. Those Hos Owe Taxes!
Due to wokeness, BLM and all the other shit, Twitch no longer accepts only women be hos. Binary Gender Neutral Hos or BGNH's all owe taxes. Pay up bishes Eat the Fish
Just because they get the form doesn't mean that they pay it. They SHOULD but I bet many of the under 100k ones don't.Everyone that makes more than 600 dollars a year gets a 1099 form from Twitch and their income reported to the government. They would pay taxes at insane rates, having to pay the full social security and medicare tax.
Are you fucking retarded? That 1099 gets filed with the IRS as well. They are definitely going after anyone who makes over 20k a year from a 1099.Just because they get the form doesn't mean that they pay it. They SHOULD but I bet many of the under 100k ones don't.
Goes to show how tough it is trying to make it.
If you're ranked 1000 you're pulling about 90K/Yr
Rank 500 is 160K
7.5 million streamers in September.
So top 1000 is the top 0.01333%
Good luck with that
Maybe Biden IRS but I think you give both the streamers and the IRS too much credit here.Are you fucking retarded? That 1099 gets filed with the IRS as well. They are definitely going after anyone who makes over 20k a year from a 1099
Just about everyone I ever worked with was 1099. Many filed but paid 0 owing and owing and settling eventually far less. Others never even filed even with 1099s issued. I was in that industry 30 years but apparently I am tardedYou would be surprised I think. Very common in the sports card world to get them from Paypal and Ebay. Some get caught and many don't.
While I spend nearly no time on Twitch these days, can't say I haven't paid into the platform. Have subbed to a handful of the top end streamers with my Prime sub mostly. Also some when the poker area had a decent number of Pros streaming there. As for donos, they were mostly in the poker area asking strategy questions on why a hand was played the way it was etc. My worst night was on a RL stream though before the DMCA takeover happened. It was a waste of about $100, but I still don't feel bad and laugh about it. There is a Korean couple that does RL streams on there, EXBC. That night they were riding a electric sit-down scooter thing around a Xmas festival and handing out candy to kids. Families and kids everywhere, packed public place. They had song requests on at a per second rate, so you could get full songs if you payed up enough. My playlist for them included NIN Closer, the N Korean national anthem, and 2 Live Crew Me So Horny.
Maybe Biden IRS but I think you give both the streamers and the IRS too much credit here.
Ya I was agreeing with you. We sent the 1099s out but I'd say a good portion never filed/paid on them. I know a few got in trouble and maybe more in the years since I was in the business. We never asked, our business was to make sure they got out at end of year asap. Mine were always mixed and the w2 I had withdrawals from went to cover 1099 and I paid off my outstanding balance in 2019. Even that was intimidating as fuck as there was only 1 person allowed into the office at a time and a armed guard standing behind you while the cia type agent went over everything. It was like walking out of a store without buying anything where you did nothing wrong but you think someone going to tackle you for shoplifting you didn't do
NoThey are definitely going after anyone who makes over 20k a year from a 1099
Nope.meh, mist is right and it's all automated - even if it's well under 20k a year as soon as that 1099 submitted by twitch doesn't have a payment match by a certain date, letters will start going out. Don't respond to the letters and human eyes will get put on the case