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

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 :/

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

Thanks, dumb question, where do I get this?

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.

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.

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

did you register a business? and if so what kind? Hosting?

Have to? No. Talk to an accountant about what is best for you though. Umm, I mentioned those right in my post already. Claim them.

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

Thanks eveyone.
Any Toronto accountant suggestions if u live here peeps?

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