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

lazzlo · 04-16-2004, 01:20 AM

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

iwantchixx · 04-16-2004, 01:22 AM

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 :/

lazzlo · 04-16-2004, 01:22 AM

Why was the word "right" (I spelled it the other way) hahahaha'd btw?

lazzlo · 04-16-2004, 01:23 AM

Quote:

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?

Kard63 · 04-16-2004, 01:24 AM

Quote:

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".

lazzlo · 04-16-2004, 01:42 AM

Quote:

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.

CDSmith · 04-16-2004, 01:49 AM

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.

lazzlo · 04-16-2004, 01:55 AM

Quote:

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.

Gemini · 04-16-2004, 02:10 AM

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

sixxxth_sense · 04-16-2004, 02:14 AM

Quote:

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?

CDSmith · 04-16-2004, 02:14 AM

Quote:

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.

Quote:

Originally posted by lazzlo
What about things like paid advertising, traffic, spots, etc.

Umm, I mentioned those right in my post already. Claim them.

sixxxth_sense · 04-16-2004, 02:15 AM

damn i just did my taxes and didnt claim shit about this BIZZ...

lazzlo · 04-16-2004, 02:15 AM

Quote:

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?

sixxxth_sense · 04-16-2004, 02:17 AM

I live in T., but i didnt claim my shit this year, prolly will next year...

04-16-2004, 01:20 AM	#1
lazzlo Confirmed User Join Date: Sep 2003 Location: Toronto Posts: 3,709	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 __________________ Buy my ads \| Sign up now

04-16-2004, 01:22 AM	#3
lazzlo Confirmed User Join Date: Sep 2003 Location: Toronto Posts: 3,709	Why was the word "right" (I spelled it the other way) hahahaha'd btw? __________________ Buy my ads \| Sign up now

04-16-2004, 01:49 AM	#7
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	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!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

04-16-2004, 02:10 AM	#9
Gemini Confirmed User Join Date: Jan 2001 Location: o-HI-o Posts: 7,183	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 __________________ <center><a target="_blank" href="http://dev.datedollars.com/index.php?s=signup&aid=535&cfg=aac"><img border="0" src="http://216.130.172.224/gfy/gsig.gif" width="490" height="100"></a><br><a href="http://dev.datedollars.com/index.php?s=signup&aid=535&cfg=aac" target="_blank"><b><font face="Arial"><font color="#FF99FF"> Buy me away from Slavedriver Smokey!<br>It's May Sig Sweeps!<font></b></center>

04-16-2004, 01:22 AM	#2
iwantchixx Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: The Boonies Posts: 12,860	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 :/

04-16-2004, 02:15 AM	#12
sixxxth_sense So Fucking Banned Join Date: Nov 2003 Location: T.O. Posts: 2,430	damn i just did my taxes and didnt claim shit about this BIZZ...

04-16-2004, 02:17 AM	#14
sixxxth_sense So Fucking Banned Join Date: Nov 2003 Location: T.O. Posts: 2,430	I live in T., but i didnt claim my shit this year, prolly will next year...