Commission Junction Taxes and Payments

The one thing I dislike about CJ is that they do not give the total amount paid in a foreign currency.  I’m in the USA, but get paid in Euros, have been for years now.  The rate the Euro increases against the dollar exceeds U.S. interest, so it makes sense to take the funds in that currency.  The problem is that you need to either keep the currency in the Euro (which is what I do, because I do not spend my CJ paychecks, instead I let them accumulate interest in a foreign bank account, and watch as the Euro slides ever further away from the dollar.) Otherwise you need to convert them into the U.S. Dollar, a task that costs money (even at global banks like Wells Fargo).  The problem that arises come tax time, is that the amount you were paid, and the amount you convert is often quite a bit different, especially if you’re making over $20,000.

CJ does not send along a balance paid in Euros, simply a U.S. total, and you need to account for losses during conversion if they were incurred, a conversion fee, etc.  If Commission Junction simply went out and posted a letter with each tax document stating the currency and the amount paid in that currency, many problems would be solved immediately, and without having to refer back to the CJ Payment section.




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