To help you navigate your responsibilities, we have created this basic guide on how taxes work for our traders with payouts.
Your Relationship with E8 Markets
It is important to understand that all traders are Independent Contractors and not employees of E8 Markets. This means:
You are responsible for reporting your earnings from payouts and paying the appropriate taxes in your specific jurisdiction.
Registration (KYC)
During registration, you must use your own legal personal information.
This information must match your information in the Riseworks and WorkMarket accounts.
You can not open an account under your Company name.
The 1099 Process (For U.S. Residents)
As a compliant U.S. company, we ensure all necessary tax documentation is filed.
Our third-party processors for payouts (such as WorkMarket or Rise) handle the distribution of 1099 forms.
These forms are generally sent out by January 31st each year for the previous tax year’s earnings.
International Traders
If you are located outside of the United States, you are still responsible for following the tax laws of your home country.
W-8 Form is being automatically provided by our third-party processors for payouts (such as WorkMarket or Rise).
For detailed information also we recommend visiting our payout processors.
Disclaimer: E8 Markets does not provide legal or tax advice. We recommend consulting with a qualified tax professional regarding your specific situation.