Get your financial questions answered


#1

My name is Jennifer and I’m the founder of Policy Genius. Our team has launched a new Fiverr® blog series, “The New Entrepreneur’s Guide to Financial Freedom”. We’ll be answering some of the most common financial questions asked by new entrepreneurs, like how to plan for financial emergencies, or how to deal with insurance in the absence of an employer offering.



We’re available here on the forum to answer your questions and get your feedback for topics you’d like to see covered in detail on the blog. Feel free to also contact us us with any questions you have.



Look forward to hearing from you!


#2

thank you very much.


#3

Very Nice



Best of luck,

:slight_smile: Joe

The Creative Guys | 2014


#4

nice thank you very much.


#5

I am so confused. I want to withdraw money to my paypal account and I can not figure out how! Help.


#6

You need to wait for the Paypal button to stop being faded. Once it’s not, you can then clik on the paypal revenue button on your sales page and you’ll get to a page where it tells you to submit your paypal email address. Once you’re completed it you can then get funds.



NOTE: The email you place can not be changed!



Best of luck,

:slight_smile: Joe

The Creative Guys | 2014


#7

This is a very helpful service. Thanks!



I have a question. Often times, entrepreneurs hire others to complete tasks. However, the U.S. government has a confusing legal system, and employers have to report who they have paid, employed, etc. What is the process small entrepreneurial business owners go through when hiring employees and sending money?


#8

Great question, @alliemadison12. The US employment system is incredibly complicated, especially when it comes to taxes. For your question, first you have to distinguish whether you’re talking about employees or independent contractors. If someone is your employee (versus an independent contractor), then you have more legal obligations. You have to withhold taxes from their paycheck and report their income to the IRS. There are also state laws and regulations you’ll have to comply with (like contributing to state unemployment insurance). If you’re employing people, here’s a good resource from the IRS to understand your obligations: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Businesses-with-Employees



If you’re hiring independent contractors, then you don’t have nearly as many legal obligations. The basic test for whether someone is an independent contractor is whether you control how their work is to be performed. If you dictate where they do the work, what supplies and equipment they use, the precise hours in the day they do the work, etc., then they’re probably an employee. However, if you only control what work is done (i.e., the work output/deliverables), but the person you hire has freedom to control how they do the work, then they’re more likely an independent contractor. Here is more guidance on how the IRS distinguishes between the two: http://www.irs.gov/uac/Employee-vs.-Independent-Contractor-–-Seven-Tips-for-Business-Owners



If you hire an independent contractor to perform work for a fee less than $600, then you don’t have to report that fee paid to the IRS. If you pay a contractor $600 or more, then you have to report that to the IRS on a Form 1099-MISC. More IRS guidance on that here: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Reporting-Payments-to-Independent-Contractors



Hope this is helpful!


#9

I need to set my status to on vacation and I can not figure out how. Please help?


#10

i have a very important question i cancelled an order now i have money in my shoping balance i want to withdraw it so what can i do?


#11

Good a.m. this is my first time trying to set up a gig. I set it up finally after an hour. But I want to be able to add “gig extras” or “upgrades” within the same gig. I don’t know if I am using the correct terminology, but for the life of me I cant figure it out. Hoping someone can help.


#12

Reply to @kjblynx: You are awesome. Thank you for letting me know. So basically I can only offer $5 items right?


#13

I am from New Zealand and will be running as a sole trader/business and would like to know if I would need to pay any taxes/fees to countries where my sales are coming from or to the country in which fiverr is based?

Or will just paying taxes and levies in my own country alone be sufficient.

Thank you.


#14

Reply to @pencilandpaper:

You should speak to a qualified tax person in your local area.


#15

The easiest way to hire someone if you are a small business owner is as an independent contractor. Have them sign a simple independent contractor agreement so they pay their own taxes instead of you having to pay them. You can find a form for this if you look around online.


#16

I do not use PAY PAL. I lost $5K with PayPal in wholesale sportswear business. I

. Can you help me?


#17

I lost $5K with PayPal in wholesale sportswear business. I

had no recourse when the customer refused to pay his cc account. PP had an out (fine print) I have a merchant account for credit cards and take personal checks online. Can you help me?


#18

I have a map payoner how to bind to account?