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October 10th, 2005, 04:53 PM #1
Things I didn't know about the IRS
- Join Date
- October 10th, 2005
I highly advise anyone who's making money on the Internet today to take a good look at the information available at [you need to pay for ads - www.abestweb.com/advertising]
I'm a single mom who's working on launching a small online baby products exchange business, and although I'm not usually one to endorse other websites, I appreciated the fact that this was the only one that didn't attempt to draw me into any type of scheme, strategy, or offshore nonsense. I'm not exactly an accounting expert, but I know enough to know that much of the "tax planning" promoted on the Internet is either illegal or ineffective (or both!).
I've found out that even if you're just making a few bucks on eBay -- or you've got a well-established online business -- you still need to know how to stay out of trouble with the IRS (audits, fines, seizure of assets, and even jail time). Anyway, it's up to you to find out if you're at risk.
Also -- can anyone recommend a user-friendly but inexpensive book-keeping software? I've come across several that were well advertised but I'd like to get some opinions from people that have actually used this kind of stuff. Thanks
Last edited by Akiva; October 11th, 2005 at 10:47 AM.
October 10th, 2005, 04:57 PM #2Originally Posted by dorothy
Geno Prussakov AM Navigator LLC Twitter.com/ePrussakov We Manage: These affiliate programs My Services: Affiliate program management, audit, consulting, speaking
October 11th, 2005, 09:06 AM #3
Ick. Taxese, reports, phlbbbbbbt. I have three meals a day to cook, daily laundry, dishes when I can't bribe the teenager or guilt trip the spouse, I DON'T have patience for figuring it all out. I hire that job out. My accountant is happy with my Excel spreadsheets and printed receipts.
Of course, if he's wrong, I still may end up with problems, but I do pay him to keep up on the tax laws and do the filings. I ask him about the tax implications of any new business idea I may have (some have been curtailed due to legal tax problems I'd run into).
October 11th, 2005, 09:53 AM #4I highly advise anyone who's making money on the Internet today to take a good look at the information available at [removed url]
I didn't knew that I could learn all that from a three weeks old site. ;-)
Last edited by Akiva; October 11th, 2005 at 10:46 AM.
October 11th, 2005, 10:24 AM #5
I decide when the pigs fly!
- Join Date
- January 18th, 2005
- New York, USA
October 11th, 2005, 10:25 AM #6
Yeah ... that smell is floating around a few sites.================================================================
Been away, now I'm back. Not as much, but I'm back & starting from scratch. Where I was, was fantastic. Where I am now, less so. Things have changed, become harder. So have I. Game ON!!!
By Chris D in forum Business & Legal IssuesReplies: 4Last Post: January 8th, 2011, 05:55 PM
By PolkSDA in forum Commission Junction - CJReplies: 1Last Post: September 14th, 2005, 01:54 PM