Hi everyone. I am new here. I haven't sold any courses yet but I want to be aware of all the legal requirements needed from instructors.
I am not familiar with US tax procedures.
I was reading about the tax information but I am a bit unclear of what documents are exactly needed to pay the IRS. I am from Trinidad and Tobago. Can you guide me along as to what tax documents are required?
Will the royalty tax be deducted before being paid revenue income?
For a non-us resident, what other tax forms should I be aware of to submit other than W-8BEN,W-8ECI and Form 1042-S? Can you explain the difference of each type of tax form?
I believe my country has a tax treaty with the US.
What are the relevant tax documents mandatory to be resubmitted and how often? Will Udemy notify me?
Also if I decide to terminate selling my course, will ISR be automatically updated so I won't be able to continue to pay royalty taxes?
Thank you for any feedback in advance.
Hi @Anonymous Our tax form tool provides instructors with the ability to select from a variety of different tax forms, including:
Choosing the right form will depend on where you live, whether you’re an individual or entity, and other specifics. Since Udemy is unable to provide tax advice, we recommend that you consult with a tax advisor to ensure you’re using the right form and entering the information correctly. Also, regarding the remaining questions, I'll recommend you to reach out to firstname.lastname@example.org.