tax

Hey Guys! I currently have a full time job and been doing online marketing for a side income (hopefully full time 1 day:) I been earning more money online and was wondering if I'm better to open a LLC and pay quarterly taxes (if that how online businesses work). Should I add the extra income to...

Quick random question... Seeing as we are essentially contractors working promoting ads or clicks, is the money we spend promoting our pages tax deductible? Specifically, if i pay Facebook to promote my page, could I claim that the purchase was for business purposes and write if off?!

So I understand the $20k rule, where after that amount I have to give my SSN and file taxes (W-9) To avoid this I opened a paypal in a foreign country (I already had a bank account) and I'm sending all my payments thru there and withdrawing to that bank account. For right now, I'm pretty...

Hello everyone! I'd like to open a web company in Estonia, and I have all the requirements to do it. My problem is that 50% of my future business will be with italian websites and freelancers, and this could be a problem. Sometimes I need to publish a banner, a guest post or other kind of...

Hi guys, Tax season is here. This is the first time I have made over $100,000, mostly from sales. and I assume the tax game is different once you hit 6-digits. Why should I have a LLC? and what is the difference between an LLC and DBA? How do I get these titles. Thanks in advance.

Hi all, I joined BHW a few months back and have since been slowly building up Twitter accounts. I am currently a business PhD student in the U.S. making basically just enough to get by from stipends, so any extra cash I can earn is immensely helpful. To this date I have 5 Twitter accounts in...

Hello. I am using PayPal to receive money. I know Paypal sends data to US IRS when you exceed $20,000 of income and 200 incoming transactions. But what are the limits in Europe Union? Does anyone know? I have less than 200 incoming transactions (>50) and $18,800 income right now.​

Hi there, I need help with this: I am a non-USA resident (live in Serbia), do I need to pay taxes for the Amazon affiliate program? I know that Kindle publishers pay tax, but I am not sure about affilate program? Because in Kindle you are selling your own product and for affiliate program you...

I am new to IM, and I keep seeing simple sounding guides glossing over a subject. Taxes. Where I live (U.S, Cali) if I earn $400 in income I must file taxes. I'm a hard worker, have been all my life. I used to frolic away my precious time with T.V/Games/Movies, but my family has come under...

I sell items on eBay and Amazon and I know that this year I will reach over 200 transactions or $20,000 for both eBay and Amazon. I will also receive a 1099 with this information. Can anyone share their experience with paypal write offs on your income tax? Let's say I purchase 10 items with...

So I have the service end of my business ready to go, but I'm still struggling with all of the backend stuff. I plan to use freshbooks in combination with Stripe (F PAYPAL) to accept credit card payments and create invoices and what not. First thing is that I'm not sure how I can make quotes for...

My Business Concept/Attempt Been lurking for some time. Finally got the balls to make an account because I feel the BHF has the experience to help me at my first shot at entrepreneurship. Okay Guys, Lately Myself and group of friends have decided to make a e-commerce dropshiping...

Hi, I've been taking online surveys over the last year and have made enough money that I should probably file taxes on it so was wondering how I would do this. Thanks in advance.

Hi, In this moment I live in Spain and I'm making some money on internet! But in this moment I don't know what taxes I need to pay! This thread is most for spanish people from this wonderful forum! I need to know what taxes I need to pay and where! I need to be "autonomo" or "empresa"? If the...

I have been on BHW for about a month and I finally decided that I would like to start selling items on eBay/Amazon and open up an online store. I'm in the process of finding a reliable wholesale company that will send me a steady supply of items. I found a few companies in China that I would...

Hmmmm... In the U.S. it is legal to hire your kids in your online business to do simple tasks for you... They can then use their money to buy their own clothes, pay tuition, buy school supplies, etc... Instead of YOU buying it for them with taxed business income it is instead tax free income...

Hi BHW, I am wondering if someone would help me out. I have a question on how to file taxes if doing a joint venture (I live in the US). For example purposes I?ll make this simple as I can (the figure below are random numbers I just made up). Let?s say I am doing a CPA JV. For 2011 I made 10k...

To lift limits on my paypal I have been asked to confirm account information, 'EU regulations require us to confirm your account information.' I have 3 options, individual/sole trader/other business- not for profit etc. I am only making money from sharecash, but do not want to unnecessarily...

Hi guys and gals, Just wondering whether anyone has any experience with tax collection on an international eCommerce site? I live in Canada but my domains are hosted in the US and most of my income comes from US customers. I should mention that I am not incorporated and do not have my...