Guys, how the fuck do i pay taxes? - GoFuckYourself.com - Adult Webmaster Forum

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xlogger

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#1

Guys, how the fuck do i pay taxes?

01-22-2007, 07:14 AM

As an webmaster how do i pay taxes? I know its a stupid question but i don't know how to go about it. Like what steps to take.

@ a job they take take it out and give you a tax return paper.

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JD

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#2

01-22-2007, 07:16 AM

www.turbotax.com
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selena

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#3

01-22-2007, 07:18 AM

You pay estimated taxes quarterly.

Search for info on IRS 1040-ES.

You can enroll to pay it online. I live in Indiana, and can pay my estimated state that way also.

Edit: Sorry, I thought you meant how do you pay them, not how to file year end tax returns.

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xlogger

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#4

01-22-2007, 07:18 AM

Originally posted by SPeRMiNaToR

www.turbotax.com

you use this?

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Tom_PM

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#5

01-22-2007, 07:20 AM

If you make enough, the IRS will tell you if you need to pay quarterly the next year. So dont feel like you're already screwed

I tend to use hrblock.com and it works fine. I can do it all online 100% in my underwear, lol.

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#6

01-22-2007, 07:24 AM

Get a CPA. Fast. Mine saved me thousands the first year I hired him.
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bDok

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#7

01-22-2007, 07:24 AM

you pay taxes by sending the irs money. You should work out how much money to send them because dropping a couple coins in their account just might not be enough. If this is your first year doing it, just once a year might be fine, but in the future you should look to pay quaterly. You really should consult your accountant and if you don't have one, time to get one. One thing is work on getting right offs if you don't have any.

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xlogger

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#8

01-22-2007, 07:33 AM

So, we pay my estimate? How do i prove how much i made this year? Should i ask my ask my sponsors about sending me papers of how much i made?

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DateDoc

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#9

01-22-2007, 07:36 AM

Buy QuickBooks and it will make your life a whole lot easier this time next year.
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#10

01-22-2007, 07:40 AM

Originally posted by xlogger

So, we pay my estimate? How do i prove how much i made this year? Should i ask my ask my sponsors about sending me papers of how much i made?

I keep my info in an Excel file. It not only tells me how much each program sends me and when, but then I divide out by how much I'm getting per click. That way the stats are good for me and my accountant on one file
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#11

01-22-2007, 07:41 AM

Originally posted by PR_Tom

I tend to use hrblock.com and it works fine. I can do it all online 100% in my underwear, lol.

I will try this and if it doesnt work..

Originally posted by Peaches

Get a CPA. Fast. Mine saved me thousands the first year I hired him.

..then i will just do this.

I dont keep track of how much i make really, lol. But today bangbrosonline (not my biggest either) send me this "tax return" paper today and the # are bigger than i thought! so thats what got me a little scared..

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selena

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#12

01-22-2007, 07:44 AM

Originally posted by xlogger

So, we pay my estimate? How do i prove how much i made this year? Should i ask my ask my sponsors about sending me papers of how much i made?

You have to be proactive about keeping your own records in regards to your income, and not depend on sponsors to send 1099 forms.

The IRS isn't going to care that someone didn't send you a paper if you don't claim income that you should have.

That said, if you made over $600 with a US sponsor, they should send a 1099.

How do you receive payments? I just have a file folder for each month that I stick check stubs in. However you receive payments just add up what you have gotten, and that is your income.

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xlogger

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#13

01-22-2007, 07:55 AM

Originally posted by selena

That said, if you made over $600 with a US sponsor, they should send a 1099.

How do you receive payments? I just have a file folder for each month that I stick check stubs in. However you receive payments just add up what you have gotten, and that is your income.

Ok i will ask for 1099 for my sponsors.

I receive payments thought epas/paypal/check. I dont really keep track of them, but i guess next year i would have to hire someone to do it for me.

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JD

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#14

01-22-2007, 08:19 AM

Originally posted by xlogger

Ok i will ask for 1099 for my sponsors.

I receive payments thought epas/paypal/check. I dont really keep track of them, but i guess next year i would have to hire someone to do it for me.

good luck getting 1099's.... you're better off just totaling shit up and going that route. getting 1099's is going to be a bitch and I'd say about 10% will actually give them to you
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Trax

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#15

01-22-2007, 08:22 AM

how have you paid taxes so far lol?
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polish_aristocrat

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#16

01-22-2007, 08:23 AM

Originally posted by Trax

how have you paid taxes so far lol?

I don't use ICQ anymore.
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#17

01-22-2007, 08:52 AM

go talk to a fucking accountant.
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sarettah

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#18

01-22-2007, 08:53 AM

Guys, how the fuck do i pay taxes?

Cash usually works pretty well

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Sarah - GTS

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#19

01-22-2007, 08:55 AM

Definately get a good accountant, preferrably through a national or international accounting firm.
To estimate your income you could use all of your bank statements from 2006 and add up the deposits.

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#20

01-22-2007, 09:03 AM

Get an cpa right now, If you're in this biz a few years now and are just paying tax now. Might I suggest you pre-lube your asshole before the IRS gets to you

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#21

01-22-2007, 09:04 AM

Originally posted by Peaches

Get a CPA. Fast. Mine saved me thousands the first year I hired him.

mine as well

you should also consider setting up an s corp forn this year

will cut your tax liablity in 1/2

too late to do it for last year
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xlogger

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#22

01-22-2007, 09:18 AM

Originally posted by xclusive

Get an cpa right now, If you're in this biz a few years now and are just paying tax now. Might I suggest you pre-lube your asshole before the IRS gets to you

Well the first 2 years i didnt make shit, 06 im worried!

I just set an appt with a cpa, so i think its cool.

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#23

01-22-2007, 09:49 AM

You have several threads talking about your nice new car and how much money you're making. You're just asking this question NOW? And you have kept NO income records?

LOL. Talk to an accountant right away and then find a tax/business attorney, get setup with a corporation.

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#24

01-22-2007, 10:06 AM

Pretty simple, add up all the money you have made last year and figure approx 25-30% will need to be paid to taxes. A good accountant can drop that figure a bit, but thats a good place to start. Based on some of your posts I will guess that you don't have a penny saved for taxes and you spent all your income on childish things like a car and partying? so you will most likely be fucked... But you will be able to make a payment plan with Uncle Sam as he loves to add on interest and penalties to the principal you don't even have.

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#25

01-22-2007, 10:22 AM

get a CPA. dont ask for financial advice on GFY.
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bdld

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#26

01-22-2007, 11:06 AM

you should have
a) saved 1/4th of all your earnings for taxes
b) kept records of each payment you received.
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