Info for USA streamers: Streamers are Streamloots' clients and aren't individual contractors. As a result, Streamloots doesn't provide streamers with Form 1099.
For your accountant to make fiscal declarations accordingly, it is of great importance that they understand what your role within Streamloots is and how does money flows with the use of the platform. We strongly advise that you share with them the following information:
Streamloots is a platform that helps you monetize your audience (viewers). In other words, the platform provides the influencer/streamer with tools that allow them to earn money from the content that they create on Twitch, YouTube, or any other channel.
This is the description of how money flows with Streamloots' system:
- The viewer, through the Streamloots website, acquires a virtual box from a streamer. The seller of the product is the streamer.
- The price of the chest is set by the streamer. On the other hand, the amount of this purchase reaches Streamloots after deduction of the handling fees of the payment platforms external to Streamloots (such as PayPal).
- This amount resides virtually in the account of the streamer who created the chest, who will receive the money on the 1st or 15th of each month, depending on the chosen configuration. For more information, please visit Where Do I See Money Made From Sales and When Do I Get Paid?
- From this amount, Streamloots will deduct a maximum of 20% that remains as a commission for intermediation in the sale.
Streamloots will then issue an invoice to the streamer for the intermediary services provided in the sale of packs, subscriptions, etc. Use the Invoices link in the Billing Information section from the Revenue page to download the invoices for all commissions earned by Streamloots.
To summarize, there are two types of economical transactions within the process:
- The streamer sells chests to the viewer
- Streamloots charges the streamer a commission for any sale made through the platform
Therefore, two different VAT are applied:
- The one included in the invoices you must issue: VAT is applied to the revenue you obtain by selling chests. Click on Download Sales (not available on mobile devices) on your Revenue page to download a detailed report of all the sales you have made.