Taxes, Legal matters, etc. for your online business

Posted: 8 years ago 3 replies

OFFLINE MARKETING

Hey guys, I don't post much. Been lurking here for a while and finally created an account not too long ago. Anyway, to get to my question(s):

Are you guys paying taxes on the income you make from your online business? And if so, how much (percentage wise) are you paying? A rough estimate will suffice. And also, how do you have your business setup/structured? - sole proprietorship? LLC? etc.

I recently have been able to 10x my online business income in recent months, to the point that I feel it is necessary to register an actual business. I am very interested to know how some of you more experienced warriors have yours set up.

#business #legal #maters #online #taxes

salegurus

salegurus

salegurus

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8 years ago

I would suggest you spend some of your 10x earnings to consult with a qualified professional......
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agmccall

agmccall

agmccall

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8 years ago

I have mine set up as per advice from my accountant. I would suggest you seek the same professional advice

al
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"Opportunity is missed by most people because it is dressed in overalls and looks like work." Thomas Edison

8 years ago

Originally Posted by readr

I recently have been able to 10x my online business income in recent months, to the point that I feel it is necessary to register an actual business. I am very interested to know how some of you more experienced warriors have yours set up.

So up until now you've been declaring your income from your online business as "personal income" and paying tax on that right?

Do you submit a tax return of any type?

You may want to look into your options by consulting a professional as the others have already stated.

The business structure you use will depend on your unique situation and the legislation in the country where you are actually earning and declaring your income.

Each country and each legal business structure will have different advantages, disadvantages and levels of compliance.

This is why you need professional advice specific to your situation.

Best regards,

Ozi