Bought from a GoDaddy Broker, can I sell/transfer it right away to the new buyer?

[Edrinkcoffee]

Example is, I bought from a Godaddy broker a domain on a Monday. Will I get the domain and resell on the same day?
If it is possible, and someone bought my domain on a Tuesday, will I be able to transfer that domain right away to the new buyer too?

Additional questions, let's say my selling price is $100K, big amount and this is my first sell. Will I be able to receive my money easily?
Will Godaddy (or Afternic) pay me smoothly without going through so much processing? Just a quick tranfer to my Paypal account?
Can I do all of this anonymously? Like the buyer will not know my identity?

 

[capybara]

let's say my selling price is $100K

Just a quick tranfer to my Paypal account?

Certainly not compatible. The maximum for Paypal payout is $5k at Afternic.

 

[Edrinkcoffee]

Certainly not compatible. The maximum for Paypal payout is $5k at Afternic.

I see. thanks for this.
Is this like maximum payout ever? or per day?

 

[karmaco]

You can’t do anything anonymously as a seller through GoDaddy. You will have to fill out tax document and verify banking and identity info to accept a large payment as a wire which if you go through GoDaddy is the only payment option on a large sale.

 

[Edrinkcoffee]

You can’t do anything anonymously as a seller through GoDaddy. You will have to fill out tax document and verify banking and identity info to accept a large payment as a wire which if you go through GoDaddy is the only payment option on a large sale.

Okay this filling out of tax document/bank and identity verification will only be done if I want my revenue to be wired to my bank account right? and the passing of information happens only between me and Godaddy?
The buyer of my domain will not know any of my information ever?

 

[karmaco]

Okay this filling out of tax document/bank and identity verification will only be done if I want my revenue to be wired to my bank account right? and the passing of information happens only between me and Godaddy?
The buyer of my domain will not know any of my information ever?

That I am not sure about hopefully someone else does. I would imagine a receipt is provided to the buyer if they request it for tax purposes which may include the info of the seller. People don’t pay huge money and not claim it as a business write off if they can.

You have to fill out a tax document to get any payment from GoDaddy no matter what method of payout is chosen.

 

[Edrinkcoffee]

That I am not sure about hopefully someone else does. I would imagine a receipt is provided to the buyer if they request it for tax purposes which may include the info of the seller. People don’t pay huge money and not claim it as a business write off if they can.

You have to fill out a tax document to get any payment from GoDaddy no matter what method of payout is chosen.

Hmm that receipt, I wonder how much information will be shared to the buyer.

In Afternic, when editing tax forms in payment details, there's an option for Non-US.

Hopefully someone non-US can share their experience on this matter.
Was it a smooth payout? What exactly do they need to transfer to your bank account?
Godaddy chat customer support only tells me to go to the FAQs.

 

[VadimK]

Trying to hide your money offshore?
I've been receiving payments thru Afternic, and I am not a US-citizen. Nothing to fill, except for your bank account number. But probably I had to check some boxes, saying that I am a non-US citizen, I don't remember...
But I am pretty sure, with more ''standard'' schemes, if you have your US citizenship, Uncle Sam will get you...You really best talk to some tax consultant, that specialize in offshore operations.

 

[Edrinkcoffee]

Trying to hide your money offshore?
I've been receiving payments thru Afternic, and I am not a US-citizen. Nothing to fill, except for your bank account number. But probably I had to check some boxes, saying that I am a non-US citizen, I don't remember...
But I am pretty sure, with more ''standard'' schemes, if you have your US citizenship, Uncle Sam will get you...You really best talk to some tax consultant, that specialize in offshore operations.

Well, I am currently working in a country different from my birth country. Both non-US. So I have bank accounts in both countries. I prefer to have most of my money in the bank account in my birth country. Since I don't see myself staying permanently in my current country. If that makes sense.

I feel like this is a common scenario. So I am trying to understand these tax stuff in domain selling.

 

[VadimK]

Well, I am currently working in a country different from my birth country. Both non-US. So I have bank accounts in both countries. I prefer to have most of my money in the bank account in my birth country. Since I don't see myself staying permanently in my current country. If that makes sense.

I feel like this is a common scenario. So I am trying to understand these tax stuff in domain selling.

You'll be paying taxes to whatever country bank this money will go to - it's an income tax, whether for a company or as an individual. But your initial question was different Your unanimity in this scene doesn't matter - your money will be landing in a certain bank and that's it - the government of said country knows about it.
Unless it's some offshore scheme again.

In both cases it's best to contact a tax consultant, I doubt here someone can tell you something definite, especially without knowing details of the case.

 

[Edrinkcoffee]

You'll be paying taxes to whatever country bank this money will go to - it's an income tax, whether for a company or as an individual. But your initial question was different Your unanimity in this scene doesn't matter - your money will be landing in a certain bank and that's it - the government of said country knows about it.
Unless it's some offshore scheme again.

In both cases it's best to contact a tax consultant, I doubt here someone can tell you something definite, especially without knowing details of the case.

I see. The unanimity part, I just don't want anyone knowing that I sold that domain. 'Coz honestly, I'm looking at 'adult' domains and don't want to be associated with it. lol. I assume, putting in any generic information (like side_admin or site owner, etc) in whois will solve this part?

 

[VadimK]

I see. The unanimity part, I just don't want anyone knowing that I sold that domain. 'Coz honestly, I'm looking at 'adult' domains and don't want to be associated with it. lol. I assume, putting in any generic information (like side_admin or site owner, etc) in whois will solve this part?

I am not sure, but guess so, yes, to the degree you can hide identity, best check with the registrar, your name is sitting with.

 

[Edrinkcoffee]

I am not sure, but guess so, yes, to the degree you can hide identity, best check with the registrar, your name is sitting with.

alright. I really appreciate all the replies man. thanks a lot!