Do you pay tax for the income from Directory?

Do I required to pay taxes for income from directory?

If yes how do I pay taxes for directory income? For AdSense income you get 1099-MISC. Since most of the payments for directory come from Paypal and most case I don’t keep track of it – how do I determine how much of this income is taxable.

Any information/advices will be highly appreciated.

 

i dont i mena i do hehehehe depends i think you only need to declare if you make more then $600 or something like that but remember if you do you can claim some stuff to get that back like lets say domain hosting fees script cost new laptop and so on.

 

Talk to a CPA. Any income you get is taxable income, the only thing is if your TOTAL income is below the taxable amount.

 

I would but I have to pay him more than what I made from online....

 

from what i know you have to make more then 600 to declare it so unless you make that dont warry about it

 

yup...over $600 you pay taxes

 

well you dont pay you should

 

If you make more than $600 a month in ads from affiliates or whatever it may be you should register with the IRS.

 

you have to declare it as income if you make more then $600 / year if you make $600 per mo you should totally declare that you don’t want them to come knocking on your door

 

You are required to declare ALL income to the IRS - technically even if you get $1 for taking a survey. The $600 number comes from the required 1099 filing by the person who pays you - but that has nothing to do with what is required to be reported on your tax return.

 

That is interesting. I did not know about this. So how do you report income less than 600 or you get 600+ from multiple people?

 

any combined rev you just declare it when you file your income tax return

 

Forget about the $600 figure for reporting income. If you have any income that was not reported on a 1099, you would report it as non-1099 misc. income. It may also be subject to self-employment tax. The point I was making is that the IRS expects you to report ALL income, regardless of the amount - not just money that you get a 1099 on.

 

I funnel my Paypal address earnings from my various online ventures to an address located in a country where there aren't any IRS worries.

 

There is a difference between what you are legally supposed to do, and doing something which you hope you never get caught.

 

Remember though, federal income tax is illegal, corporate income tax is legal. If you are not a corporation, don't pay income tax unless you expect to get some back. Go watch America: Freedom to Fascism

 

Correct.

And if you make over a certain dollar amount annual, you have to pay quarterlies. Unless you have another gig as your full time. Online is a secondary.

 

You need to delcare your wold wide income and pay taxes if you are taxable for the total income you earned. You can read detailed explanation here

http://findtaxservice.com/component/option,com_fireboard/Itemid,60/func,view/catid,46/id,504/#504

 

Is that not in effect money laundering?

 

Makes no difference where the money goes (geographically) only where you or your business is legally based (depending on if you and your business are considered a single or separate legal entities.

The "no IRS worries" simply is that they cannot take that money but that doesnt stop them seizing items/ money that you do hold in your country for non-payment of due taxes