Paying Taxes On Funds Raised
How to classify funds earned by sales.
Micah
Last Update il y a 2 ans
By law, you are responsible for reporting all income from sales/payouts at Impact Merch.
While we're passionate about creating amazing products, we're not tax experts. Therefore, we strongly recommend consulting with your local CPA/tax advisor for advice on tax matters
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If you received a payout via Stripe or Paypal:
All organizations who sell through Impact Merch and earn more than $600 in a calendar year (January - December) will receive relevant tax information through Stripe/Paypal. However, please note that PayPal and Stripe may have their own requirements for issuing 1099 forms.
If you receive a payout via check from Impact Merch:
Organizations who sell merchandise through The Church Shop and earn more than $600 in a calendar year, will receive a 1099 form from us.
All organizations are responsible for reporting any income earned through The Church Shop.
Please reach out if you have future questions.
