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How do you prefer to be paid out + tax wise?

Labeled as discuss in Legal Discussion, started by PatrickV, Sep 23, 2021

Replies:
3
Views:
332

?

How do you want to be paid out if you sell your domain?

  1. Cash

    4 votes
    57.1%
  2. Crypto's

    2 votes
    28.6%
  3. Cash + Shares

    0 votes
    0.0%
  4. Cash + percentage of the revenues

    1 vote
    14.3%
Total: 7 vote(s)
  1. PatrickV

    PatrickV Established Member

    Posts:
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    I'm a private seller,

    How do you want to be paid out?

    It seems to me many domainers want to sell for a few 1.000 dollar a .com while they can make more out of it if they're creative ... with all respect ofcourse for them.

    Cash - One time payment

    Crypto's - One time payment (marketplaces where it's possible yet?)

    Cash + Shares (f.e. 50/50)

    Cash + generate percentage on potential growing revenues

    A lawyer told me in the EU you've to pay one time let's say only one time fixed 10 % IP tax on the selling price of the domain ...

    For tax and legal contact a tax advisor/lawyer.

    Make a good contract!

    This is very interesting to me and i like to hear from others what they think!

    GLTA!
     
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  2. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Cash. Then you can exchange that for whatever you want.

    If you exchange a domain for anything of value, like crypto, it is still taxable at fair market value in almost any country that has income taxes.

    Brad
     
    Last edited: Sep 24, 2021
  3. CraigD

    CraigD Top Contributor VIP

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    Tax laws are different in each country.

    In my case, payment via the platform = bank transfer, then I'll report at end of year to my local tax department, and pay whatever tax is owed then.

    Keep it above board and you won't have any issues down the track.
     
    Last edited: Sep 24, 2021
  4. karmaco

    karmaco Top Contributor VIP

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    Cash and shares/profits piece of the company is usually reserved for the very best of names.
    Cash or crypto doesn’t matter— tax man cometh (at least in the US)
     

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