Important Tax Disclaimer
This page provides general educational information only. Sola is not a tax advisor, accountant, or financial professional. Tax laws are complex and vary by location, income level, and individual circumstances.
We strongly recommend consulting a qualified tax professional, certified public accountant (CPA), or using professional tax preparation software for advice specific to your situation. The information below should not be considered legal or tax advice.
What Sola Provides
Form 1099-K
If you meet the IRS reporting threshold in a calendar year (currently $5,000 for 2024, $2,500 for 2025), Sola will automatically:
Note: These thresholds are set by the IRS and may change annually. Some states have lower individual reporting thresholds. Stripe handles these requirements automatically based on current IRS and state regulations.
- File Form 1099-K with the IRS on your behalf
- Report your gross payment volume (before marketplace fees)
- Deliver your copy electronically through your Stripe Express Dashboard
- Email you when your form is ready (typically by January 31st)
That's it. Sola only provides your 1099-K form. You are responsible for obtaining and filing all other required tax forms yourself.
Access your 1099-K anytime at dashboard.stripe.com or manage your tax form delivery preferences in your Settings.
Tax Forms You May Need to File
As a self-employed creator, you are responsible for reporting your income and paying taxes. Depending on your earnings and business structure, you may need to file some or all of the following forms:
Form 1040: U.S. Individual Income Tax Return
This is the standard federal income tax form used to report your total annual income, claim deductions, and calculate your tax liability.
Due: April 15 of each year (for the previous calendar year)
Schedule C: Profit or Loss from Business
Used to report income and expenses from your creator business. This form allows you to deduct eligible business expenses (software subscriptions, equipment, advertising, etc.) to reduce your taxable income.
Who needs it: Sole proprietors operating a business (most creators). Filed with Form 1040.
Schedule SE: Self-Employment Tax
Calculates the Social Security and Medicare taxes you owe as a self-employed individual. Unlike traditional employees, self-employed creators pay both the employer and employee portions.
Who needs it: Anyone with net self-employment earnings of $400 or more. Filed with Form 1040.
Form 1040-ES: Estimated Tax for Individuals
Used to calculate and pay quarterly estimated taxes throughout the year. Self-employed creators don't have taxes withheld from their payments, so you're required to make estimated payments directly to the IRS.
Who needs it: Anyone who expects to owe $1,000 or more in taxes for the year.
Due dates: Quarterly (April 15, June 15, September 15, January 15)
💡 Tip: Many tax professionals recommend setting aside 25-30% of your creator income throughout the year to cover federal taxes, state taxes (if applicable), and self-employment taxes.
Getting Professional Help
Tax rules can be complicated, especially for self-employed individuals. We strongly recommend working with a tax professional, particularly in your first year as a creator.
Tax Professionals
- • Certified Public Accountant (CPA)
- • Enrolled Agent (EA)
- • Tax Attorney
- • Annual Tax Service
Tax Software
- • TurboTax Self-Employed
- • H&R Block Premium
- • TaxAct Self-Employed
- • FreeTaxUSA (budget-friendly)
Note: Sola does not endorse any specific tax professional or software. These are examples only.
Official IRS Resources
The IRS provides free resources to help self-employed individuals understand their tax obligations:
Self-Employment Tax Center
Official IRS guide for self-employed individuals
Schedule C Form & Instructions
Download and instructions for reporting business income
Schedule SE Form & Instructions
Calculate self-employment tax (Social Security and Medicare)
Form 1040-ES & Instructions
Calculate and pay quarterly estimated taxes
IRS Free File
Free tax preparation software for eligible filers
Publication 334: Tax Guide for Small Business
Comprehensive guide for sole proprietors and statutory employees
Common Questions
Q: Do I need to report income under $600?
A: Yes. All income must be reported to the IRS, even if you don't receive a 1099-K form. You're still required to report earnings under $600 on your tax return.
Q: Can I deduct business expenses?
A: Yes, typically. Self-employed creators can usually deduct ordinary and necessary business expenses on Schedule C. Common deductions include software subscriptions, equipment, advertising costs, and home office expenses. Consult a tax professional for guidance specific to your situation.
Q: What if I have a full-time job and sell on Sola as a side business?
A: You'll still need to report your Sola income and file Schedule C and Schedule SE if you meet the thresholds. Your side business income is taxable in addition to your W-2 employment income.
Q: Do I need to pay state taxes?
A: It depends on your state. Most states have income tax, and you'll need to report your self-employment income on your state tax return. Check your state's tax authority website or consult a local tax professional.
Q: Where can I find my 1099-K from Sola?
A: Your 1099-K is delivered electronically through your Stripe Express Dashboard at dashboard.stripe.com. You'll receive an email notification when it's ready (typically by January 31st). You can also manage your delivery preferences in your Settings.
Remember: This is Educational Information Only
Tax situations vary widely based on your income, location, business structure, and personal circumstances. The information on this page is meant to help you understand general concepts and know where to find official resources.
For advice specific to your situation, please consult a qualified tax professional. Sola cannot provide personalized tax guidance or be held responsible for your tax compliance.
Have questions about your Sola account, 1099-K delivery, or platform features?
Contact Sola Support