NameSilo

We are the idiots .....

Located in General Domain Discussion, started by TheBaldOne, May 22, 2020

Replies:
210
Views:
13,913

?

Are you going to develop some of your domains?

  1. Definitely plan to develop my domains

    47 votes
    32.2%
  2. Perhaps develop some of my domains

    38 votes
    26.0%
  3. Might try to develop one domain to see how it goes

    18 votes
    12.3%
  4. No, just after selling my domains

    33 votes
    22.6%
  5. Why work when domaining is so easy and it will make me a millionaire within the year

    10 votes
    6.8%
Total: 146 vote(s)
  1. otismo

    otismo Established Member

    Posts:
    285
    Likes Received:
    173
    let's see...

    IF

    I have a database of ten million buyers

    AND

    a deal in place to supply them with what they are burnin' for

    THEN

    transactions can take place on a subdomain of FoxeO.com

    for all anybody cares...

    MEANWHILE

    I paid up for LaptopZ.com ( a name with a horrid past - check it out )

    both laptop.com and laptops.com are for sale by investors ( NO development )

    I think all I need to do is start acquiring and blowing out inventory - somebody bust my bubble...
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. DomainBoxio

    DomainBoxio domainbox.io VIP

    Posts:
    1,857
    Likes Received:
    911
    Not enough time in the week to develop all the wonderful names on namepros
     
  3. lock

    lock DomainUsed.com VIP

    Posts:
    4,784
    Likes Received:
    4,613
    I had a week without internet so changed my landing pages to be more functional as webmaster related.
     
  4. TheBuyerz

    TheBuyerz Established Member

    Posts:
    471
    Likes Received:
    532
    I have many projects in progress and idea that sometimes you end up by doing none of them.

    It is very difficult to develop a website for each of your domains, especially if they need time and experience in each technology required for it.

    You can develop one, two, three projects for each of your domain names but you can't follow up in this way especially if they take all of your time and efforts ... hiring freelancers will take also all your time by explaining the concept and writing a white paper to describe it in details.

    Internet is a vaste ocean where you have (and must) to specialize in a specific field to keep yourself up to date and master the knownledge from which you benefited, it is a mission impossible to know everything, just like other domains like medecine ect.

    To sum up, you need for each idea project a special requirments (We have mobile apps, web sites, softwares, Os ... and for each of them, there is a million programming languages which we must choose the best one that perform well the thing you want and comes with the best security to deliver a good product to your buyer).

    Thank you
     
    Last edited: Jun 12, 2020
  5. Domain_Hunters

    Domain_Hunters @Domain_Hunters Twitter Gold Account

    Posts:
    335
    Likes Received:
    20
    I develop mine and sell them.. I have listings on flippa.. and name pros..

    Developing a domain name and selling it will give you 20x returns than just leaving it.

    Lets say you have a domain dropping and want to somehow sell it, Get a free online website theme make a website with a beautiful logo and sell it 10x more. you will definitely find a buyer as they would just have to plug and play.
     
  6. koolishman

    koolishman Upgraded Member Blue Account

    Posts:
    914
    Likes Received:
    1,615

    After reading through responses, if you have an clear agreement with your developer or partner on profit split, why not?

    That is the way to go, at least for your niche domains.

    I have seen such partnerships.
     
  7. poweredbyme

    poweredbyme Webmaster & Entrepreneur VIP

    Posts:
    984
    Likes Received:
    625
    A business can not be more profitable without being more difficult. For instance, if being a medical doctor was easy, everybody would be dentist, surgeon, etc, and all those doctors would be eventually homeless. Doctors make very good monies. Because becoming a medical doctor is more difficult than most of the other things to become. Difficulty is the only one reason. There is no second reason.

    Domaining is one of the simplest thing one can do. That is why it's difficult to make profit in domaining. Running a website is more difficult. So, it's more profitable than domaining.

    So it's not related to being an idiot or genius. Profit is related to how you handle difficulties or how you react to difficulties.
     
  8. Welberch

    Welberch Restricted (50-70%)

    Posts:
    1,790
    Likes Received:
    836
    The creator of this topic should be banned from the forum for calling the entire community idiots. He probably is the only idiot here.

    NamePros management should prevent further insults.
     
    Last edited: Jun 18, 2020
  9. radiocity_983

    radiocity_983 Account Suspended (Warnings)

    Posts:
    22
    Likes Received:
    3
    THE GREATER FOOL THEORY STATES THAT IT IS POSSIBLE TO MAKE MONEY BY BUYING SECURITIES, WHETHER OR NOT THEY ARE OVERVALUED, BY SELLING THEM FOR A PROFIT AT A LATER DATE. THIS IS BECAUSE THERE WILL ALWAYS BE SOMEONE (I.E. A BIGGER OR GREATER FOOL) WHO IS WILLING TO PAY A HIGHER PRICE. UNFORTUNATELY, SPECULATIVE BUBBLES BURST EVENTUALLY, LEADING TO A RAPID DEPRECIATION IN SHARE PRICES. SO, IN A WAY WE ARE IDIOTS WAITING TO SELL OUR WARES TO OTHER IDIOTS. DOES THAT CONCLUDE THIS THREAD?
     
    Last edited: Jun 19, 2020
  10. Recons.Com

    Recons.Com Top Contributor VIP

    Posts:
    7,048
    Likes Received:
    15,658
    Itching to get another member banned?
     
  11. NickB

    NickB Wales.org VIP

    Posts:
    3,615
    Likes Received:
    7,447
    Get off your high horse.

    If you don't like the content/title of the thread don't read it.....The 3rd most popular thread on Namepros this month and your the only one one who has a problem with it, does this not say something about you rather than the OP?

    By your reckoning you should be banned for calling the OP an idiot then?
     
  12. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    I would develop like a mad male, if it wasn't for high taxes and accounting responsibilities with owning a business. I consider becoming a beggar instead. It's tax-free. :D

    If you sell just a few domain names per year. Around here then domain sales goes under capital gains taxation. So I don't need to start my own business.
     
    Last edited: Jun 19, 2020
  13. dombastic

    dombastic Established Member ★★★★★★★★★★

    Posts:
    416
    Likes Received:
    112
    I guess you live in Europe...
     
  14. MadAboutDomains

    MadAboutDomains Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,281
    Likes Received:
    1,354
    If you're buying something with the intent to sell it, it's not capital gains its called trading.

    No normal tax system would allow trading in anything (aka business activity with the intent to make a profit) and just let you pass it as capital gains, because it simply isn't capital gains.

    Its like me buying and selling houses and saying I only sell 2 a year so I'll claim capital gains. If I am buying houses to sell them at a profit, it is profit pure and simple. My trading activity is selling houses even if its an aside from my day job and I sell them infrequently.

    Conversely if I ran a business selling domains and I had a premises to facilitate it that I had for 5 years and I moved to a new one, the sale of the old property or old machinery would likely be eligible for capital gains because its not bought and sold as part of my usual trading activity.

    No one can actively trade in something to make a profit and claim capital gains.

    Whatever helps you sleep better at night I suppose :smug:
     
    Last edited: Jun 20, 2020
  15. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    What the hell are you on about. I don't do domaining full time. I sell maximum two domain names per year! So many butt-faces on this board. I should just mind my own business and stop posting here. (y)
     
  16. MadAboutDomains

    MadAboutDomains Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,281
    Likes Received:
    1,354
    If you buy something to sell for profit it is trading. It doesn't matter how slowly you do it. You misunderstand what capital gains means.
     
    Last edited: Jun 20, 2020
  17. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    If I would sell like four or more domain names and every year. Then it's trading. I didn't sell a domain name last year. You don't know the laws around here! It's a capital investment. End of story.
     
  18. MadAboutDomains

    MadAboutDomains Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,281
    Likes Received:
    1,354
    The first three sales are classed as capital gains but the fourth one and any after aren't? Surely they're all classed as capital gains if you class the assets as such.

    It's the sales value that would determine whether it's taxable or not, not the number that you sold?
     
  19. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    It's about being ACTIVE and when you are ACTIVE you have to register a business. You don't seem like the smartest guy around here. Arguing with when, you don't even know the laws where I live and what they are like. What a waste of time.
     
  20. MadAboutDomains

    MadAboutDomains Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,281
    Likes Received:
    1,354
    You don't appear to know the rules of polite conversation. Three unprovoked condescensions in three posts, is there a Swedish law that I don't know about surrounding the fourth?

    You don't have to register as a business to pay capital gains tax. PwC says there is a threshold of SEK 50,000 for individual income before you have to pay capital gains tax. So as long as you delude yourself into believing that all of your sales are just classed as 'capital gains' then you can go on ad infinitum buying and selling domains and just because only 2 (ish) go out of the door every year you're 'not trading'?
     
    Last edited: Jun 20, 2020
  21. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    Read upon it below. I have better things to do than speak about this matter. You said.. "I whatever makes you sleep better at night." ... you come across as some know it all type of guy. That's why I have a harsh tone towards you.

    https://www.skatteverket.se/privat/...rnethandel.4.6d02084411db6e252fe80006957.html

    And.. I've already spoken with two lawyers about this. So?
     
    Last edited: Jun 20, 2020
  22. MadAboutDomains

    MadAboutDomains Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,281
    Likes Received:
    1,354
    Thanks for pointing to that, it's very interesting. I admit that it was rather uncouth of me to say "Whatever makes you sleep better at night". I apologise, but I am genuinely interested in this line of enquiry regarding tax/capital gains because I too have faced this conundrum before.

    So this is the badly translated version of the paragraph from Google Translate:

    Is it taxable?
    If you sell individual domain names, you should record the profits from your hobby business as income from service. On the other hand, if you regularly trade in domains and domain names to make money, you conduct business and declare your income for the business. Sales of individual domain names whose value you have not worked up, but only purchased as a capital investment and which are not included or linked to the business activities you carry on, are included in the income type capital as sales of other assets on form K4.
    From what I have deduced from this it looks like there are three categories:
    1. Hobby business - who must declare the income
    2. Regular traders of domains who must declare the income as part of their business
    3. A business that sells a single domain that they haven't worked on (IE haven't developed or expended labour on) and the domain is not linked to the business activities that are carried out by the person can be declared as "capital gains"
    So by the sounds of it you fit into 1 or 2. Because 3 stipulates that it is an investment that is nothing to do with your business activities. Firstly you have said that you are not classed as a business and that your activity in relation to the domains is the buying and selling the domains (not even developing them), so the domain sales are technically the only business activities that you carry out in relation to the domains. You buy and sell domains, therefore this is your 'business' activity, even if you say that you are not actively declared as a business.

    The point about not being ACTIVE so you're not a business, I'm not sure how one can advertise domains for sale (assuming that you do, in order to have any sales at all) but not be active in selling them? Just cause you have infrequent sales doesn't mean that you're not active.

    It seems that that only leaves the threshold of SEK 20,008 as the determining factor as to whether you need to declare the income or not. 20,008 SEK looks like the total amount that you earned in a year and not just earned from internet commerce, so to me it sounds like what I suspected. If you're selling domains it's not capital gains, it is income that should be declared if you earn more than 20,008 SEK in the year 2019-2020.

    Looking forward to your riposte.
     
    Last edited: Jun 20, 2020
  23. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    You continue here with making a bunch of guesses/assumptions. Can't you just give it a rest!!!! Have you tried asking questions instead? You should try that. You are highly annoying! I saw you on the other pages in this thread just babbling on with a bunch of lengthy text. I didn't want to speak about it more. Again, don't you have anything better to do with your time?

    You could ask simple questions instead of babbling about what you think

    Now if you want to know. I have paid taxes as a hobby business. Now what?
     
    Last edited: Jun 21, 2020
  24. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    Mods please. I said I didn't want to talk with this guy.
     
    Last edited: Jun 21, 2020
  25. maxjohan

    maxjohan Established Member ★★★★★★★★★★

    Posts:
    197
    Likes Received:
    216
    I've put you on ignore now MadAboutDomains. Have fun, and don't forget to pay your taxes! :)
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
Topics / Tags:
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...