Payout Methods for US Stores:
- E-mailed Check
- Mailed Check
- Direct Deposit
- Daily Payouts (Check or Deposit) = $25.00 minimum
- Bi-Monthly Payouts (Check or Deposit) = $50.00 minimum
- Monthly Payouts (Check or Deposit) = $50.00 minimum
All iWantClips Stores operate as Independent Contractors and not employees. This means that all payouts you receive will have no taxes withheld and you will be paid 100% of your earnings.
You will be required to complete a W9-Form in order to open your store. On or before January 31st you will receive a 1099-MISC Tax Form (with the SSN or TIN you submitted with your W9-Form) from Gatsby Enterprises, Inc.
The 1099 will contain the total income your store earned during the year and is to be used by you to file your annual income tax return. This form will also be sent to the IRS for all stores who earn more than $500.00.
Switching Between Payouts:
If you want to switch to a different payout option, you can do so by going into your account and editing your billing information here. There are no penalties or fees for making changes.
Every 24 hours, all transactions that occur within your store are logged and recorded (this happens daily at 12am EST). If you switch to a payout option that has a reduced or an increased revenue split, your earnings for the day will be affected.
* For more information regarding payouts, please review our Payout Policy page.
If you have questions regarding payouts, we are here to help! Please reach out ot us anytime at Billing@iWantClips.com.
Thank you so much!