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Reply With Quotenot yet but very soon they put theire hand for internet as well but depends on type of business u running as well
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Hello, do i need to pay taxes for owning website and making money of it?
thanks
not yet but very soon they put theire hand for internet as well but depends on type of business u running as well
Short answer: YESOriginally Posted by moneymatter$ang*
It depends on how much are you are making. There is a minimum you must be earning to have to pay taxes (I want to say its $700).
If you are going to go the shady route (not really worth it in the long run IMO) and try to avoid paying taxes, one thing you must consider is your source of income. For example, if you earn money from Google AdSense, google will report your income (they write it off as an expense) and thus you are basically forced to report income on it. If you were making money in the form of individuals sending you paypal payments you may be able to get away with it, as it is basically all undocumented.
There is no statue of limitation when it comes to tax fraud. I have a friend who was doing part time contract work for individuals which he never reported, a good twenty years or so after his last job the IRS fined him heavily.
Disclaimer: I am not a lawyer, research anything you read.
I am looking to purchase websites. View my DNF thread HERE
I pay taxes on all my internet and website and domain sales. Period.
heh, i never have paid taxes before (as never have worked in my life d
so how i need to pay ? do i need to register my sites somewhere?
My dad said something about a "1099" "ten-ninety nine"
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The IRS typically does not care what your website is. It depends on how much you make. If you are making $xx a month, $xxx a month, or $xxxx a month I would do it differently. But basically, you file it as income. Most likely, you would just file it as personal income.heh, i never have paid taxes before (as never have worked in my life d
so how i need to pay ? do i need to register my sites somewhere?
If you have a tax person, just tell them what you have, and how much you have made from it.
I believe that is equivalent to a w-2 except it is more commonly used among temporary employees.
I am looking to purchase websites. View my DNF thread HERE
you guys are talking about USA how about in Canada ?
The original poster says he lives in London, and is flying a Lithuanian flag. How anyone presumes to know the tax laws applicable to him is a complete mystery to me.
John Berryhill Ph.d., esq.
John-AT-johnberryhill.com
Please do not send private messages via dnforum.com, email me directly.
In euro.
In china all sites must be registered with the government....thats all i can say to help
Last edited by 01wojtowicz; 06-09-2005 at 02:28 PM. Reason: ha=d hel[ not help
what about money made from affiliate programs?
does tax apply to them?
Only 1 link allowed in signature.
Of course. One has to declare all income.
It is all website affiliate/PPC/CPM income whatsoever. You should be able to write off expenses such as server costs etc.
However, if you buy domains to resell them, then you may not have to pay tax on the profits - check if your country has a captial gains tax. Any income from parking them in the meantime would be taxable though, and the act of parking in itself could take you out of the "capital gains" bracket for that domain all together.
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