Just wondering, how many of you guys are paying taxes on the money they make from IM? People earning XXX / XXXX per day cannot go unnoticed can they? I see a lot of people offering services like writing / hosting, and I can imagine that these would be counted as regular White Hat companies that should be registered, but even the ones breaking the TOS of big websites like FB / YT etc. should still register their business as a tax paying company right? It is not illegal to break a TOS in the case of for example YT by selling views/subs/likes, but it seems weird to me registering a company and pay taxes while offering services that are knowingly breaking the rules of a website and making money of it. Therefore I was wondering how many of you guys are offering services that are actually registered companies.
I am genuinely interested ^^. Personally I have done some minor personal trading before, but nothing very serious in the way of making a living out of it like some of you are doing. If I start a project, I want to do it right. I don't want to discover half-way that I'm fucked if that makes any sense .
You pretty much just read my mind. I'm not sure if you are being sarcastic though... Edit: Business & Tax Advice Never mind, that says it all .
Remember the tax man might be slow, but hes not stupid. Eventually they will catch up to you, better off to get things sorted out the right way.
I would't submit tax since i'm doing some graphic designs etc. But when I'll register as an business. I will OFCOURSE Pay Taxes.
Thank you for your response . I am in no way against paying taxes, I was just wondering how many of you guys are taking the sneaky route as some of the services being offered here also seem a bit sneaky beaky like from time to time. Also, I was (and still am) curious about how that would work with for example Paypal stealth accounts etc. Because those don't seem very legal and a bit hard to explain when submitting tax forms .
Most people don't pay what's due and end up getting slapped with hidden fees and surcharges. Don't ever get too carried away, some evade whereas other get caught.
. I believe that real businesses should pay taxes; but if you?re only playing at making money, then ten to one you don?t/won?t make enough to pay taxes either That said; I will always use all the legal loopholes available to pay the least taxes possible
Why do you need to register a business when you can still pay the tax as personal income and you still get dedications?
You may register a business to reduce your total tax, however, you will have to pay your persoal income tax as most of us do, your facing lots of troubles don't doing it. To register a company for your business will anyway be a good idea also to limit any liabilities.
No idea in other parts of the world but in my country you need a registered business to write off overheads such as salaries, rent, and other types of expenses that real businesses occur. As such you can easily make a loss for a year or three while building your business, and thus evade paying taxes legally. We also have VAT; if you have a decent offline business the VAT involved can be astronomical and only registered businesses can claim it back/charge it. If VAT exceeds a certain amount it makes more than sense to claim it back when you buy goods and only pay it when you sell.
I wouldn't say that my services break the TOS of any website (well, possibly the Google Webmaster Guidelines to some extent), although I own a registered local Internet marketing business and I pay both federal and state taxes since some of my clients send me W-9 forms, so trying to trick the IRS into thinking that I don't have income is not feasible.
I pay every cent that I'm lawfully required to pay. I think failure to comply with the law is just a setup for long term failure. Fortunately, the law requires me to pay 0% tax.
Just a question: If you aren't a registered business and are making an affiliate income but you have expenses obviously, can you write them off? I feel like this tax ordeal is trivial in this field.
Nah. Never. Not that stupid to pay my %35 of the revenue. But If I were living in US or Canada, I would pay for sure!
