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  1. #1
    Newbie
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    September 28th, 2010
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    37
    Question First two sites are in dev! Business registration/management questions
    Hello Friends,

    I'm in the process of having two sites developed. I currently work with one of the large affiliate networks, however starting my own project on the side. I'm really excited to get everything launched as my sites will be geared for men and women, ages 16-35.

    Both sites will essentially be a shopping portal featuring data feeds, cpa banners, cpc, contextual links (content links), as well as, email marketing for local businesses.


    My goal is to make serious money within time. Would registering myself as a self proprietorship be a wise move? I plan on operating several other sites in the future (ideas are piling up on my head lol).

    I guess my real question, is it necessary to register myself as a business (sole proprietorship)? If you outsource Developers and Programmers, do you sign their agreements or do you generate your own? Do you have them fill out irs forms for tax purposes?

    Any advice would be helpful. Thanks.

    NjDank

  2. #2
    CPA Network Rep
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    August 12th, 2010
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    Tacoma, WA
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    10
    I would register as a sole proprietorship just to be safe. The last thing you want is to have problems with the IRS right when you start making money. It costs very little money to register, so I think it would be worth avoiding the risk.

  3. #3
    Super Dawg Member Phil Kaufman aka AffiliateHound's Avatar
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    January 22nd, 2007
    Location
    West Covina, CA
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    8,443
    Register where? With Whom?

    If you do not form a corporation or a formal partnership you ARE a sole proprietor.

    As far as the IRS is concerned, there is nothing to "register". All you do is, when you prepare your taxes you complete Schedule C and identify your business as a "DBA".

    Now, if you are talking about a local business license, those requirements and any applicable fees vary by jurisdiction. The most important thing, however, is a Fictitious Name Statement (again, format, fees, etc., vary by jurisdiction). If you list a company name with networks, and they pay you under that company name, you will need a FNS in order to open a bank account. But, if you keep all payments to be made in your name, you do not need a FNS for banking purposes.

    As to outsourced contractors, two things:
    1) You can prepare your own agreements, but experienced contractors will generally have their own agreements and will be reluctant to accept jobs unless you agree to your terms, and will be equally reluctant to agree to non-standard terms that may be present in your agreement.
    2) IRS 1099 forms are necessary if payments to non-employee individuals exceeding $600 are made in any tax year.
    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;
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  4. #4
    The Seal of Aproval rematt's Avatar
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    November 19th, 2006
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    Quote Originally Posted by NjDank View Post
    I currently work with one of the large affiliate networks, however starting my own project on the side. I'm really excited to get everything launched as my sites will be geared for men and women, ages 16-35.
    I'm assuming when you say "work with one of the large affiliate networks", you actually mean "work for"; in which case you should probably make sure that your employer has no issues with their employees also being affiliates. There have been issues in the past with network employees competing with affiliates and using what many would consider proprietary information to give themselves an advantage. It would be difficult to not see such an arrangement as a conflict of interest.

    -rematt
    "I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant." - Richard Nixon

  5. #5
    Newbie
    Join Date
    September 28th, 2010
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    Quote Originally Posted by rematt View Post
    I'm assuming when you say "work with one of the large affiliate networks", you actually mean "work for"; in which case you should probably make sure that your employer has no issues with their employees also being affiliates. There have been issues in the past with network employees competing with affiliates and using what many would consider proprietary information to give themselves an advantage. It would be difficult to not see such an arrangement as a conflict of interest.

    -rematt

    Your assumptions are wrong rematt, so no worries!

    Thanks for the info E.A. and A.H.!

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