Guys, can anybody ellaborate on this!?? I need to know now if this is true or not, before I upgrade thousands, lol...
This is my opinion only, but I am almost sure when they send you your 1099 it will only show the actual money you cashed out (in your pocket). I await further clarification, but as has been posted before you should consult with your accountant first.
I need to know a definite on this one before I go ahead and sign more people up...I don't have an accountant, so I'll hope somebody else out there will check with theirs...
My best advice would be to call the company bluedog24. I called and that's what I was told and I asked them to please make this clarification official because the question is beginning to pop up on the internets.
I called and they said with certainty that you will only have to pay taxes on what you physically cash out...but it still seems to be questionable, as I have seen nothing official posted on this yet...