What to do with $10,000?

[Phronesis]

I have a friend who needs a tax deduction to avoid having to pay next year. He wants to start a business and get about $10k in business expenses on the books. He's interested in domaining but not sure how that can help him. Any ideas on what he can do?

 

[TcDa]

Phronesis,

He should buy out my entire secret stash of .es and .be domain hacks (I remember you used to be into them as well, right? :hehe: ) I even have a directory site for all of them. He could have the entire massive list for a lot less than 10k.

-D

 

[Phronesis]

:sold:

Just kidding. No I don't have any .be or .es domains. And I've sold or dropped all my tld hacks. I'm thinking more along the lines of a nice type-in revenue domain at 6X revenue or so but I don't think that would qualify as a business expense. Any tax pros out there?

 

[Zeeble]

I don't know how it works in the US. But here in the UK he can invest that money to avoid tax now, but will be realised at a later date when the business is sold.

I would advise him to invest into a half decent traffic domain which makes a comfortable 10-20% ROI per year.

 

[domainer50]

Tell him to buy 1 or 2 LLL.com names.

 

[0lgi]

Try to open a forum or site , mainly Paid Per Post and give great Rates so other members can join and invest there 10k you will see that after 6 months you will be earning 50k monthly

Olgi

 

[Mr Blockeel]

he can start a domain reseller account and put a lot of money into it so he will get low prices for his domains, that he can make more money of them

and i also have a little project that i want to start up,
maybe he can invest, i will repay him as fast as i can, but need a bit starting money,
then he can get some more business expenses this year and he can put the money i repay him into next year's books
if he wants he also can become a full partner

this is not a joke, i'm serious about this

 

[shopperx]

Place an ad to purchase the best dictionary .com or .net that 10K can buy, it must be an easy to sell domain, just in case your friend needs the $ at any given time.

shopperx

 

[JBebbington]

Buy a struggling, yet large, web business for 5k. Use 3k to do it up and get it turning a profit. The rest of the money invest into buying 10 lll.com domains, or one very nice domain, this is your security. lll.coms will only go up in value, and will instantly sell, so if you have the cash tied up into your business, then it isnt floating around. Then when you need it, just sell off the domains as needed. Keep the e-business, and make your total 10k investment on it twice. so once it turns 20k, you invest 5k into expandinig again. Expect, in 5ish years, when you have sold all investments, and have all the profits from the e-business, dont spend them, you should have approx. 70k after ebusiness sale.

 

[w1ww]

Give the money to me

Well, serious. Start an online business like Domain reselling and the advertise it badly!

 

[aotgroup]

use it to setup real estate opportunities to give residual income from rents . :imho:

 

[asgsoft]

a freelancing site?