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Nearing the end of the year once again, I currently live in the U.S and have been thinking a lot about IRS tax on domain name revenue and believe it would only be helpful to have a thread on Tax strategies. We could all learn something.
I talked to a supposed very good tax preparer last week and gave him the scoop on what I do domaining. All though he didn't say it, I don't think he's ran across this exact type of business before. I've been thinking about opening my business off-shore for the tax savings but the tax preparer said that many of the people that do that end up in Federal Prison. I can't see why it would be illegal since companies do it every day including many major corporations so I'd like to learn more about it.
I have some write offs like laptops purchased, had the Geek Squad come out, office space, BlackBerry + service for help with marketing, domain purchases, internet service, campaign and ad spending, office supplies and furniture and so on.
Any and all Ideas and tactics invited on this thread.
I talked to a supposed very good tax preparer last week and gave him the scoop on what I do domaining. All though he didn't say it, I don't think he's ran across this exact type of business before. I've been thinking about opening my business off-shore for the tax savings but the tax preparer said that many of the people that do that end up in Federal Prison. I can't see why it would be illegal since companies do it every day including many major corporations so I'd like to learn more about it.
I have some write offs like laptops purchased, had the Geek Squad come out, office space, BlackBerry + service for help with marketing, domain purchases, internet service, campaign and ad spending, office supplies and furniture and so on.
Any and all Ideas and tactics invited on this thread.