Results 1 to 3 of 3
  1. #1
    Member
    Join Date
    October 25th, 2006
    Posts
    123
    Taxes and Online Sales
    So I have sold a lot of stuff this year and made a lot just on clickbank.

    Anyone have any advice on taxes at all. It almost seems dumb to be paying normal taxes since it is an online based income where I could be working in any country that doesnt have income taxes.

    Any thoughts or ideas would be helpful. I know this year I will pay them as normal but would setting up a bank account abroad make any sense?

  2. #2
    Super Dawg Member Phil Kaufman aka AffiliateHound's Avatar
    Join Date
    January 22nd, 2007
    Location
    West Covina, CA
    Posts
    8,443
    Quote Originally Posted by mweidner2782
    ...but would setting up a bank account abroad make any sense?
    Only if you enjoy indictments for tax fraud.

    Everyone who has been in this business awhile and who makes a profit pays taxes just like we would for owning any other business, whether as a individual/dba or corporation.
    Since June 10, 2012 a vegan aarf but still writing the Hound Dawg Sports Blog
    "If you don't have time to do it right, when will you have time to do it over?" -John Wooden;
    "Raj, there’s no place for truth on the internet." -Howard Wolowitz[/SIZE]

  3. #3
    More Cheesier Than Ever Cheesehead's Avatar
    Join Date
    January 18th, 2005
    Location
    Land of The NFL Champs!
    Posts
    2,942
    If you made income, then it is reported as income. I assume you are a US citizen.

    Heck, they even want you to report bartering!

    I have a CPA do my taxes, just to make sure they are done right and to minimize chances of audit red flags. Every penny of affiliate income gets reported, regardless of whether I get a 1099 or not.
    This World is Not My Home
    We're gonna go inside, we're gonna go outside, inside and outside. . . And then we're gonna go go go and we're not gonna stop til we get across that goalline! Quotes from the movie Rudy, 1993

  4. Newsletter Signup

+ Reply to Thread

Similar Threads

  1. Missouri misses out on millions in uncollected Internet sales taxes
    By Chuck Hamrick in forum Missouri Affiliate Tax
    Replies: 0
    Last Post: January 3rd, 2013, 01:44 PM
  2. Replies: 11
    Last Post: February 14th, 2012, 10:52 PM
  3. States working harder to collect online sales taxes
    By Rhea in forum Affiliate Tax Laws
    Replies: 5
    Last Post: October 31st, 2010, 12:22 PM
  4. Governors that have vetoed and opposing affiliate taxes or internet taxes
    By Jorge - SHOPiMAR in forum Affiliate Tax Laws
    Replies: 2
    Last Post: February 12th, 2010, 08:39 PM
  5. Chicago sues eBay/StubHub for city taxes on ticket sales
    By Drewbert in forum Business & Legal Issues
    Replies: 5
    Last Post: May 23rd, 2008, 03:18 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •