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March 1st, 2009, 11:24 PM #1
Taxes and Online Sales
- Join Date
- October 25th, 2006
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?
March 1st, 2009, 11:35 PM #2Originally Posted by mweidner2782
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.
March 1st, 2009, 11:38 PM #3
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
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