Please share your stories, experiences and advice in this area about the advantages and disadvantage of taxes concerning online business ( home based business, affliate marketing, work from home, etc. etc. etc….)?
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Please share your stories, experiences and advice in this area about the advantages and disadvantage of taxes concerning online business ( home based business, affliate marketing, work from home, etc. etc. etc….)?
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Yes it is a business. that is why all the companies ask you for SS# or Tax ID number. Keep track of your earnings and your expenses. Because the big companies are keeping track and they will report it to IRS.
Fellow Affiliate Marketer
Most people pay taxes on the income they are earning no matter what the source or avenue it is from and according to the country they reside in.
As you are conducting a business as an owner (not an employee), you can gain great tax benefits from claiming the expenses you incur from conducting it. Check with a local accountant to find out what your rights and responsibilities are. They are the best qualified to fully inform you and can provide you with all the necessary details.
Well, if you live in the United States you probably will have to pay taxes. If you earned under $1,000 you should pay taxes but chances are the IRS won’t be knocking on your door for a $100. I’m sure there’s much bigger fish out there to catch.