Paying your taxes

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  • tj2k4
    Registered User
    • Mar 2004
    • 2
    #1

    Paying your taxes

    Hey everyone, I'm new to the board... I was wondering, at the end of each year when its time to pay taxes on the funds you earned for the year, what % of your earnings would you say go to the gov? How much of my earnings should be set aside to cover taxes? Do I NEED a business name and bank account? Or can I just have my merchant pay me direct, and then just file in my own name? If anyone can help answer these questions I'd appreciate it
    Tags: None
    • ipc
      Confirmed User
      • Mar 2002
      • 175
      #2
      get epassporte and fuck goverment

      Every Tuesday, Thursday and Sunday in September PussyCash will pay you a $100 FOR EVERY IMLIVE SIGN-UP you refer

        Comment

        • sean416
          Confirmed User
          • Feb 2004
          • 3633
          #3
          dude, this is a cash business, and unless you consider this a moral dilema you should claim way less then what you make, and play up any business expenses 10 fold. They'll owe you money when it comes time to do your taxes.

          ServerProvider.com

            Comment

            • shogun3k
              Confirmed User
              • Mar 2004
              • 480
              #4
              HAHA, go offshore and own the tax man!

                Comment

                • Doctor Dre
                  Too lazy to set a custom title
                  • Jan 2001
                  • 51692
                  #5
                  You should report a good enough % of your earning to live with your lifestyle . Save up a lot of money because you never know what will happen anyways


                  Just boost your expenses to the max (with forgein webmasters it's ez :P)
                  Originally posted by rayadp05
                  I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                    Comment

                    • erehwon
                      Confirmed User
                      • Nov 2003
                      • 3759
                      #6
                      Fuck the taxman? Are you nuts?

                      Everyone has a short memory about history, for all the criminal enterprises Al Capone had, it was the IRS that busted him in the end.

                      Incorporate, keep excellent records and get a good accountant, they will find plenty of ways to reduce your taxes.
                      Money NEVER $leep$...

                        Comment

                        • Manny Z
                          Registered User
                          • Feb 2004
                          • 76
                          #7
                          Incorporate. Lots of things become deductable. A good CPA should save you more than he or she costs.
                          It's way past time for a tax revolt.
                          SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, then you may use a 624x80 instead of a 120x60.

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                            • Thong Sniper
                              Confirmed User
                              • Mar 2004
                              • 1319
                              #8
                              claim anything and everything you use for your web business.

                              if you work from home and use your car for business travel. claim your gas. claim part of your home rent if you work from home. claim your computer and all your web related equipment. its all business expense, and can actually help you make some bank in the end.
                              <vb>signature</vb>

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                                • tj2k4
                                  Registered User
                                  • Mar 2004
                                  • 2
                                  #9
                                  Thanks everyone for your input

                                    Comment

                                    • scoobydookc
                                      Confirmed User
                                      • Apr 2004
                                      • 193
                                      #10
                                      This actually spawns off another question from myself.. In my short stint last year of reselling I had made over $3,000 (3,000 is the magic 'you must claim' number I believe) -- all of which was paid through PayPal. The only thing is, the person who was paying me is in the United Kingdom.

                                      Call me cheap for asking for free advice (tax lawyers love fees), but since I was technically recieving pay for work from the UK, doesn't that mean I'm exempt from US taxes?

                                      Sales tax isn't charged on out of state purchases, maybe it's the same on income taxes when you're getting income from another country, ... anyone know honestly?

                                      Also, if it's not exempt from taxes, and you can claim every little business fee, how about that paypal fee when transfering to your bank account, for us non-paypal corporation premier stock holder executive account holders

                                        Comment

                                        • DR_PHIL
                                          Confirmed User
                                          • Oct 2002
                                          • 4099
                                          #11
                                          i get audited like ever 3 years..cover your ass

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