lucycodex Posted February 5, 2018 Share Posted February 5, 2018 I am new to US taxes, so I am curious, if someone purchased a gig for like, 20$, and then the buyer cancels, can that be regarded as a business net loss? If so, how would that work in regards to taxes?If I earned 500$ from Fiverr, and someone cancels a 20$ order, so I claim my income was 520 but deduct 20$, or would I deduct 20$ off of the 500? Link to comment Share on other sites More sharing options...
rightway Posted February 5, 2018 Share Posted February 5, 2018 @lucyodex first you have to know that you will not get whole amount , fiverr deducted 20% of your profit and if you total fiverr earning is 500 usd then you will get 400 usd and if someone then cancelled a order you will be deducted the order amount.hope i am well to describe it. 🙂 Link to comment Share on other sites More sharing options...
emeraldawnn Posted February 5, 2018 Share Posted February 5, 2018 I use my PP emails as a way to gauge how much I have earned for the year. I create a subfolder within my email program and each time I withdraw my earnings, the email goes in here. At the end of the year, I add it all up and get my total to input into my taxes.Hope that helps. Link to comment Share on other sites More sharing options...
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