Non-paysite owners, what do you claim on taxes for credits from this biz?

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  • lazzlo
    Confirmed User
    • Sep 2003
    • 3709
    #1

    Non-paysite owners, what do you claim on taxes for credits from this biz?

    Serious question. I never filed before and my web income has skyrocketed the past few months so I had better.
    I run some free sites and tgp alot. What can I hahahahaha off, and do I have to register as a company or something somewhere?
    I live in Canada as well.
    Thanks alot for any advice.
    laz
    Tags: None
    • iwantchixx
      Too lazy to set a custom title
      • Oct 2002
      • 12860
      #2
      you can't wr|te off expenses unless you have a tax number. You must claim every penny earned. I know I don't look forward to taking all my check stubs to the tax man this year :/

        Comment

        • lazzlo
          Confirmed User
          • Sep 2003
          • 3709
          #3
          Why was the word "right" (I spelled it the other way) hahahaha'd btw?

            Comment

            • lazzlo
              Confirmed User
              • Sep 2003
              • 3709
              #4
              Originally posted by iwantchixx
              you can't wr|te off expenses unless you have a tax number. You must claim every penny earned. I know I don't look forward to taking all my check stubs to the tax man this year :/
              Thanks, dumb question, where do I get this?

                Comment

                • Kard63
                  Confirmed User
                  • Nov 2003
                  • 8944
                  #5
                  Originally posted by lazzlo
                  Why was the word "right" (I spelled it the other way) hahahaha'd btw?
                  Because this site has a lot of gay word filters.


                  You can't say d0cuments either. Notice I used a zero instead of an "o".

                    Comment

                    • lazzlo
                      Confirmed User
                      • Sep 2003
                      • 3709
                      #6
                      Originally posted by Kard63


                      Because this site has a lot of gay word filters.


                      You can't say d0cuments either. Notice I used a zero instead of an "o".
                      Ok thx.

                        Comment

                        • CDSmith
                          Too lazy to set a custom title
                          • May 2001
                          • 51460
                          #7
                          I don't have any special "tax number".... I've been claiming business expenses since the mid 80's though.


                          for this biz I claim such things as:

                          my computer equipment
                          cable modem monthly payments
                          hosting costs
                          promotional costs, advertising, paid traffic etc
                          % of utilities based on sq footage of workspace (20%)



                          There's more, but you really should think about hiring a professional to do your taxes for you, at least for this first go-round. I have paid my guy for 4 years now to do mine, I just can't be bothered.
                          Promote Wildmatch, ImLive, Sexier.com, and more!!

                          ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!!
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                            Comment

                            • lazzlo
                              Confirmed User
                              • Sep 2003
                              • 3709
                              #8
                              Originally posted by CDSmith
                              I don't have any special "tax number".... I've been claiming business expenses since the mid 80's though.


                              for this biz I claim such things as:

                              my computer equipment
                              cable modem monthly payments
                              hosting costs
                              promotional costs, advertising, paid traffic etc
                              % of utilities based on sq footage of workspace (20%)



                              There's more, but you really should think about hiring a professional to do your taxes for you, at least for this first go-round. I have paid my guy for 4 years now to do mine, I just can't be bothered.
                              Hmmm, intresting, did you have to regsiter as a business? Thats cool if I can claim my connection too. What about things like paid advertising, traffic, spots, etc.

                                Comment

                                • Gemini
                                  Confirmed User
                                  • Jan 2001
                                  • 7183
                                  #9
                                  You should be able to wr ite off all things you pay out for increasing business. Traffic, hosting - server fees, content, etc etc As far as points, I'd only claim the average value of the things you actually rec'v.

                                  Ex: 19" tv - $150 USD
                                  50" Big Screen = $900 USD etc

                                  The taxes in Canada and the US are pretty similar in what you can and can't wr ite off. You just pay MORE of it. ;-)p

                                  CD has it right... find a good accountant... best way to do that is, ask your parents and all their friends and see who they all use... go talk with a few and see who you like and who doesn't have a problem working with YOU. lol
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                                    Comment

                                    • sixxxth_sense
                                      So Fucking Banned
                                      • Nov 2003
                                      • 2430
                                      #10
                                      Originally posted by CDSmith
                                      I don't have any special "tax number".... I've been claiming business expenses since the mid 80's though.


                                      for this biz I claim such things as:

                                      my computer equipment
                                      cable modem monthly payments
                                      hosting costs
                                      promotional costs, advertising, paid traffic etc
                                      % of utilities based on sq footage of workspace (20%)



                                      There's more, but you really should think about hiring a professional to do your taxes for you, at least for this first go-round. I have paid my guy for 4 years now to do mine, I just can't be bothered.
                                      did you register a business? and if so what kind? Hosting?

                                        Comment

                                        • CDSmith
                                          Too lazy to set a custom title
                                          • May 2001
                                          • 51460
                                          #11
                                          Originally posted by lazzlo
                                          Hmmm, intresting, did you have to regsiter as a business?
                                          Have to? No. Talk to an accountant about what is best for you though.
                                          Originally posted by lazzlo
                                          What about things like paid advertising, traffic, spots, etc.
                                          Umm, I mentioned those right in my post already. Claim them.
                                          Promote Wildmatch, ImLive, Sexier.com, and more!!

                                          ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!!
                                          Put some PUSSYCA$H in your pocket.                                           ICQ me at: 31024634

                                            Comment

                                            • sixxxth_sense
                                              So Fucking Banned
                                              • Nov 2003
                                              • 2430
                                              #12
                                              damn i just did my taxes and didnt claim shit about this BIZZ...

                                                Comment

                                                • lazzlo
                                                  Confirmed User
                                                  • Sep 2003
                                                  • 3709
                                                  #13
                                                  Originally posted by Gemini
                                                  You should be able to wr ite off all things you pay out for increasing business. Traffic, hosting - server fees, content, etc etc As far as points, I'd only claim the average value of the things you actually rec'v.

                                                  Ex: 19" tv - $150 USD
                                                  50" Big Screen = $900 USD etc

                                                  The taxes in Canada and the US are pretty similar in what you can and can't wr ite off. You just pay MORE of it. ;-)p

                                                  CD has it right... find a good accountant... best way to do that is, ask your parents and all their friends and see who they all use... go talk with a few and see who you like and who doesn't have a problem working with YOU. lol
                                                  Thanks eveyone.
                                                  Any Toronto accountant suggestions if u live here peeps?

                                                    Comment

                                                    • sixxxth_sense
                                                      So Fucking Banned
                                                      • Nov 2003
                                                      • 2430
                                                      #14
                                                      I live in T., but i didnt claim my shit this year, prolly will next year...

                                                        Comment

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