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taxes

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  1. scithe

    discuss 1099s Received From Both Atom and Paypal For the Same Sales.

    It's tax season in the USA again. I have been receiving 1099s from the marketplaces where I do business. I made my first sales on Atom last year and they paid me through Paypal. I recently received a 1099-K from both Paypal and a 1099-NEC from Squadhelp/Atom. As I look at my reconciliation...
  2. scithe

    discuss 1099s Received From Both Atom and Paypal For the Same Sales.

    It's tax season in the USA again. I have been receiving 1099s from the marketplaces where I do business. I made my first sales on Atom last year and they paid me through Paypal. I recently received a 1099-K from both Paypal and a 1099-NEC from Squadhelp/Atom. As I look at my reconciliation...
  3. James Iles

    information Top Topics: This Phishing Scam Targets Domain Owners; Should I Partner With a Business?...

    In this week's Top Topics, a domain investor is looking for advice on writing off domain purchases in a tax return. Elsewhere, there's a phishing scam targeting domain name owners and registrar GoDaddy acquires DNAcademy. Advice Needed: Taxes for Domain Purchases Domain names and taxes have...
  4. James Iles

    information Top Topics: This Phishing Scam Targets Domain Owners; Should I Partner With a Business?...

    In this week's Top Topics, a domain investor is looking for advice on writing off domain purchases in a tax return. Elsewhere, there's a phishing scam targeting domain name owners and registrar GoDaddy acquires DNAcademy. Advice Needed: Taxes for Domain Purchases Domain names and taxes have...
  5. TangoTango

    news Venmo, PayPal and Cash App will now have to report transactions totaling more than $600 to the IRS as Biden plans to ramp up financial enforcement

    https://www.dailymail.co.uk/news/article-10372327/Venmo-PayPal-Cash-App-report-transactions-totaling-600-IRS.html The new reporting requirement will ensure that small businesses that receive payments through those apps are paying their fair share in taxes on them Beginning Jan. 1, 2022...
  6. TangoTango

    news Venmo, PayPal and Cash App will now have to report transactions totaling more than $600 to the IRS as Biden plans to ramp up financial enforcement

    https://www.dailymail.co.uk/news/article-10372327/Venmo-PayPal-Cash-App-report-transactions-totaling-600-IRS.html The new reporting requirement will ensure that small businesses that receive payments through those apps are paying their fair share in taxes on them Beginning Jan. 1, 2022...
  7. william

    question Domain Names + Taxes

    Hello, Is anyone here familiar with taxes in regards to domain names? Specifically in the United States. I think I've been treating sales in a very costly way (tax wise), so I had a few questions about some tax strategies. If anyone is knowledgeable or can recommend someone who is, I'd really...
  8. william

    question Domain Names + Taxes

    Hello, Is anyone here familiar with taxes in regards to domain names? Specifically in the United States. I think I've been treating sales in a very costly way (tax wise), so I had a few questions about some tax strategies. If anyone is knowledgeable or can recommend someone who is, I'd really...
  9. colenot

    advice Selling a domain over 50k- Sedo or Dan?

    Hey all, Where would you sell a domain over 50k? I saw a poll where majority voted Dan. Buyer wants to use Sedo. Also, my fiancee lives in Europe and they pay less taxes. I'd rather us pay 21% taxes instead of 35%. If I use Sedo or Dan, can I use her info to collect the money even though the...
  10. colenot

    advice Selling a domain over 50k- Sedo or Dan?

    Hey all, Where would you sell a domain over 50k? I saw a poll where majority voted Dan. Buyer wants to use Sedo. Also, my fiancee lives in Europe and they pay less taxes. I'd rather us pay 21% taxes instead of 35%. If I use Sedo or Dan, can I use her info to collect the money even though the...
  11. Croc

    question Are proceeds from domain sales considered "earned income" in terms of US taxes

    As I am fairly young (30), I want to contribute the proceeds from domain sales to my Roth IRA for retirement, so that money can grow tax-free. However, you can only contribute "earned income". Do domain name sales qualify as "earned income" or only regular jobs? Thanks!
  12. Croc

    question Are proceeds from domain sales considered "earned income" in terms of US taxes

    As I am fairly young (30), I want to contribute the proceeds from domain sales to my Roth IRA for retirement, so that money can grow tax-free. However, you can only contribute "earned income". Do domain name sales qualify as "earned income" or only regular jobs? Thanks!
  13. The Rover

    Taxes & Domains: Do You Treat Your Domains As "Inventory" or Do You "Amortize" Them?

    Obviously the forums aren't a source for tax advice, however, that said, I'm curious what many of you do when it comes to your domains and taxes. I keep hearing that if your domain purchases are merely hand regs (or aftermarket domains that are less than $500) that the IRS is fine with you...
  14. The Rover

    Taxes & Domains: Do You Treat Your Domains As "Inventory" or Do You "Amortize" Them?

    Obviously the forums aren't a source for tax advice, however, that said, I'm curious what many of you do when it comes to your domains and taxes. I keep hearing that if your domain purchases are merely hand regs (or aftermarket domains that are less than $500) that the IRS is fine with you...
  15. The Rover

    question Is It Necessary to Create a Separate Business For Investing & Selling Domains?

    Years ago I used to buy and sell domains here (and elsewhere) that supplemented my income which came from being a freelance web designer. For taxes, I was always sure to pay taxes on any domain profits, by merging both by domain income with my main businesses profits (web design services)...
  16. The Rover

    question Is It Necessary to Create a Separate Business For Investing & Selling Domains?

    Years ago I used to buy and sell domains here (and elsewhere) that supplemented my income which came from being a freelance web designer. For taxes, I was always sure to pay taxes on any domain profits, by merging both by domain income with my main businesses profits (web design services)...
  17. crunchyg

    request Any CPA recommendations?

    Looking for a reliable person who can do domainer taxes (U.S. corporate and personal). Crypto experience a plus. Feel free to review someone you have worked with.
  18. crunchyg

    request Any CPA recommendations?

    Looking for a reliable person who can do domainer taxes (U.S. corporate and personal). Crypto experience a plus. Feel free to review someone you have worked with.
  19. News

    information Year-End Domain Sales and Tax Issues

    Year-end time does bring some “look back” thoughts. Picture your potential client thinking “what did I intend to do this year?”. Most of us procrastinate and don’t meet our own goals. Engage them to let them make a big move at the end of the year. Catch them trying to knock off as many to-dos...
  20. News

    information Year-End Domain Sales and Tax Issues

    Year-end time does bring some “look back” thoughts. Picture your potential client thinking “what did I intend to do this year?”. Most of us procrastinate and don’t meet our own goals. Engage them to let them make a big move at the end of the year. Catch them trying to knock off as many to-dos...
  21. Lord Antares

    question Hypothetical question about GoDaddy and taxes

    Hypothetically speaking, what could go wrong if I changed my country of residence to some African country where they don't collect taxes so that I don't have to pay VAT for domains? Asking for a friend.
  22. Lord Antares

    question Hypothetical question about GoDaddy and taxes

    Hypothetically speaking, what could go wrong if I changed my country of residence to some African country where they don't collect taxes so that I don't have to pay VAT for domains? Asking for a friend.
  23. Boudi Kai

    DAN.com VAT Options

    Your recommendation regarding VAT options on DAN.com is highly appreciated(y)
  24. Boudi Kai

    DAN.com VAT Options

    Your recommendation regarding VAT options on DAN.com is highly appreciated(y)
  25. Tunababa8v

    advice Do people in the USA have to pay tax when transacting with Cryptos?

    I saw this on a group I belonged to on Facebook.The dude said he received this letter from IRS. I am asking because I wouldn't want to fall fowl of the law when I am in this position
  26. Tunababa8v

    advice Do people in the USA have to pay tax when transacting with Cryptos?

    I saw this on a group I belonged to on Facebook.The dude said he received this letter from IRS. I am asking because I wouldn't want to fall fowl of the law when I am in this position
  27. EbookLover

    question US Domainers: Ever gotten a 1099 ?

    Have any of you gotten a 1099 (of any kind, 1099-K, 1099-MISC, etc) from a marketplace/auction site like Afternic, Sedo, etc. or other similar venue (like undeveloped) for your domain sales? What about Escrow.com? If so, can you state which marketplaces have sent you a 1099? I just realized...
  28. EbookLover

    question US Domainers: Ever gotten a 1099 ?

    Have any of you gotten a 1099 (of any kind, 1099-K, 1099-MISC, etc) from a marketplace/auction site like Afternic, Sedo, etc. or other similar venue (like undeveloped) for your domain sales? What about Escrow.com? If so, can you state which marketplaces have sent you a 1099? I just realized...
  29. Picassoface

    discuss Domains and taxes

    Let's say I paid $3,000 for all the domains I purchased in 2018. And say I sold $4,000 worth of domain names. Do I need to set up an LLC, or can I just add the $1,000 to miscellaneous income on my tax form ? It would be easy to produce receipts for the $3,000 in purchases if asked but do you...
  30. Picassoface

    discuss Domains and taxes

    Let's say I paid $3,000 for all the domains I purchased in 2018. And say I sold $4,000 worth of domain names. Do I need to set up an LLC, or can I just add the $1,000 to miscellaneous income on my tax form ? It would be easy to produce receipts for the $3,000 in purchases if asked but do you...
  31. D Haynes

    sales Understanding VAT

    Ok so I recently came to an agreement with a buyer and decided the easiest way to complete the sale would be through GoDaddy. The buyer was not very experienced in domain buying and the transfer process so my thinking was that if he creates an account and I drop the BIN price on the premium...
  32. D Haynes

    sales Understanding VAT

    Ok so I recently came to an agreement with a buyer and decided the easiest way to complete the sale would be through GoDaddy. The buyer was not very experienced in domain buying and the transfer process so my thinking was that if he creates an account and I drop the BIN price on the premium...
  33. James Iles

    information Top Topics: Who's In Charge Anyway?; Do You Pay Taxes on Your Domain Sales?...

    In case you missed it, we covered the news of View's acquisition of the one-word domain View.com earlier this week. Whilst the sales price has not been revealed to us by either party, one investor shed some light on the possible sales price in the comments section after speaking with the seller...
  34. James Iles

    information Top Topics: Who's In Charge Anyway?; Do You Pay Taxes on Your Domain Sales?...

    In case you missed it, we covered the news of View's acquisition of the one-word domain View.com earlier this week. Whilst the sales price has not been revealed to us by either party, one investor shed some light on the possible sales price in the comments section after speaking with the seller...
  35. News

    opinion Will the Tax Bill be Good for US Domain Investors?

    The US Congress is on the verge of passing a major tax bill that looks like it is going to have an impact on just about everyone who lives and/or pays US taxes. I am not an accountant nor do I have any tax expertise, but based on what I have been reading, watching, and observing, it seems like...
  36. News

    opinion Will the Tax Bill be Good for US Domain Investors?

    The US Congress is on the verge of passing a major tax bill that looks like it is going to have an impact on just about everyone who lives and/or pays US taxes. I am not an accountant nor do I have any tax expertise, but based on what I have been reading, watching, and observing, it seems like...
  37. RGkiiing

    Buyer asking for W9?

    Sold a domain a few months ago, and now the buyer is asking me to "send a W9 for our tax records". Never had this before has anyone requested this from you?
  38. RGkiiing

    Buyer asking for W9?

    Sold a domain a few months ago, and now the buyer is asking me to "send a W9 for our tax records". Never had this before has anyone requested this from you?
  39. News

    advice Keep Enough Cash for Domain Sales Taxes

    When I sell a domain name, my first inclination is to reinvest the funds in another domain name or several domain names. I always like to keep great domain names in my portfolio, and reinvesting helps to ensure that my portfolio continues to improve. Even with this inclination, I need to be...
  40. News

    advice Keep Enough Cash for Domain Sales Taxes

    When I sell a domain name, my first inclination is to reinvest the funds in another domain name or several domain names. I always like to keep great domain names in my portfolio, and reinvesting helps to ensure that my portfolio continues to improve. Even with this inclination, I need to be...
  41. Fancy.domains

    question How much do you have to sell per month to cover your expenses?

    I have a portfolio of (just) 500 names and to compensate for my renewal fees and taxes, I will have to sell for about 850 dollars a month, on average, to break even. Note that I am not including any salaries, rental costs, internet and hardware expenses etc. in this "equation". How about you?
  42. Fancy.domains

    question How much do you have to sell per month to cover your expenses?

    I have a portfolio of (just) 500 names and to compensate for my renewal fees and taxes, I will have to sell for about 850 dollars a month, on average, to break even. Note that I am not including any salaries, rental costs, internet and hardware expenses etc. in this "equation". How about you?
  43. Keral_Patel

    information GST in India

    To all my fellow Namepros members. As we all know from today the GST applies (Goods and Service Tax) all over the India. It is a great move and maybe it will curb this black money issue and all. But my own problem was that I was not able to understand the new laws as there was very less...
  44. Keral_Patel

    information GST in India

    To all my fellow Namepros members. As we all know from today the GST applies (Goods and Service Tax) all over the India. It is a great move and maybe it will curb this black money issue and all. But my own problem was that I was not able to understand the new laws as there was very less...
  45. Eric Lyon

    strategy From Freelancing to a Start-Up – Protecting Your Brand Name

    It’s easy to lose track of things when you’re self-employed, freelancing, or a new entrepreneur. However, there is going to come a time in your business when you need to expand more, take it more serious, and step into the realm of new start-up companies. When doing this, it’s essential that you...
  46. Eric Lyon

    strategy From Freelancing to a Start-Up – Protecting Your Brand Name

    It’s easy to lose track of things when you’re self-employed, freelancing, or a new entrepreneur. However, there is going to come a time in your business when you need to expand more, take it more serious, and step into the realm of new start-up companies. When doing this, it’s essential that you...
  47. Rex Powers

    negotiable 280e.net/biz/buzz/co/consulting/info/org/solutions

    IRS Reg 280e is the Federal Reg that restricts banking and legitimate tax deductions for companies in the high growth Marijuana Industry! *The .com extension is currently owned by a company based in CHINA ALL DOMAINS expire 6-2017 and are registered at Go Daddy and can be acquired and...
  48. Rex Powers

    negotiable 280e.net/biz/buzz/co/consulting/info/org/solutions

    IRS Reg 280e is the Federal Reg that restricts banking and legitimate tax deductions for companies in the high growth Marijuana Industry! *The .com extension is currently owned by a company based in CHINA ALL DOMAINS expire 6-2017 and are registered at Go Daddy and can be acquired and...
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