• On Wednesday, 19th February between 10:00 and 11:00 UTC, the forum will go down for maintenance. Read More

Tax Deductions

Status
Not open for further replies.

pandadog

Registered Member
Joined
Jan 3, 2013
Messages
91
Reaction score
8
Hi all, this will be the first time I'm paying taxes on my SEO earnings so I'm really confused as to what I can claim as business expenses. I have the following expenses:

VPS for running SEO software
Private proxies
SEO software: GSA Search Engine Ranker, Kontent Machine, Captcha Sniper, GSA Captcha Breaker, Scrapebox and Ultimate Demon.
SEO Services: Lindexed, SERPiq and SEOmoz
About 35k solved captchas from Decaptcher and Death by Captcha
Also various SEO services from BHW.

Can I claim all of this stuff as my expenses, even if I don't have an LLC or anything like that? Thanks in advance.
 
Those are all legitimate costs of conducting business so yes, costs minus income equals profits and that's what your taxes on ;)
 
DO you have proper bills/invoices , if yes then you can claim
You can show income from profession and do not need to go for LLC.
 
I have all my invoices and records kept of all my expenses. So, I don't need to be registered as a business or anything? I'm planning to later this year, but I haven't gotten around to that yet.
 
They are correct, you do not need an llc. You do, however, need to properly register yourself as a business in your state. Also, remember, the IRS realizes that people who run businesses from their homes can "fudge" numbers better than most due to where they are and how much is available on the internet these days. In other words, just make sure to CYA. If they decide to audit you, then you shouldn't be nervous about anything.
 
They are correct, you do not need an llc. You do, however, need to properly register yourself as a business in your state. Also, remember, the IRS realizes that people who run businesses from their homes can "fudge" numbers better than most due to where they are and how much is available on the internet these days. In other words, just make sure to CYA. If they decide to audit you, then you shouldn't be nervous about anything.

Thanks. Can I register in a state I don't live in?
 
You need to see a tax pro. They can help you find other deductions like a home office and related expenses.
 
You need to see a tax pro. They can help you find other deductions like a home office and related expenses.

I'm planning to see my regular accountant later this month. I wanted to be prepared.
 
Status
Not open for further replies.
Back
Top