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Not sure if this is the best place...
to ask about accounting/bookeeping questions, especially after sifting through the domain in trust thread...it was kinda scary...
Anyway, here's my question(s):
How do you list domain names in your books? As inventory? As Assets?
Do you use the registration price as value, or the "appraised" value?
Any info is appreciated? Thanks!
Hi Vox,
I list my domains in my books as "Domain License Expense" and it is an asset. I then have a default client "Domain Sales" to show Revenue.
Hope this helps.
Track emails that you send, PM me to find out how....
If it cost less than $10,000, you can expense it. Or you may want to amortize the cost over a period of years. I'm not sure whether the I.R.S. has issued any opinion on useful life of a domain.
Howard Neu, Esq.
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