How Do You Pay Taxes on Internet Income?

Discussion in 'Legal Issues' started by digicam, Oct 17, 2009.

  1. SmallPotatoes

    SmallPotatoes Peon

    Messages:
    1,321
    Likes Received:
    41
    Best Answers:
    0
    Trophy Points:
    0
    #21
    You can always telephone the IRS. They are, surprisingly enough, very helpful on the phone.
     
    SmallPotatoes, Oct 22, 2009 IP
  2. Scorpio360

    Scorpio360 Peon

    Messages:
    107
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #22
    In the US it depends how much you earn.
     
    Scorpio360, Oct 27, 2009 IP
  3. SFNUM8

    SFNUM8 Active Member

    Messages:
    297
    Likes Received:
    4
    Best Answers:
    0
    Trophy Points:
    58
    #23
    You are required to file Self_employment taxes if you earn over $400 throughout the year. You will just pay during tax time the following year, so be sure to put away money to pay them. Below is an explanation for paying taxes on Google Adsense income but can be used for any type of the income you described.
    http://www.adtaxes.com/
     
    SFNUM8, Oct 27, 2009 IP
  4. ChrisMiller

    ChrisMiller Prominent Member

    Messages:
    1,934
    Likes Received:
    81
    Best Answers:
    0
    Trophy Points:
    315
    #24
    Yea I have never paid Taxes in the almost 6 Years of making money online... Or ever for that matter... with the high interest interest and penalty's they charge I figured I prob owe them around 2Million by now.
     
    ChrisMiller, Oct 27, 2009 IP
  5. shellyreynolds

    shellyreynolds Peon

    Messages:
    202
    Likes Received:
    2
    Best Answers:
    0
    Trophy Points:
    0
    #25
    If you expect to owe taxes the IRS requires quarterly payments during the year. I recommend paying MORE than you expect to owe for your earnings during a given quarter. You will get back the excess payments when you do your tax return in the spring.
     
    shellyreynolds, Oct 27, 2009 IP
  6. shellyreynolds

    shellyreynolds Peon

    Messages:
    202
    Likes Received:
    2
    Best Answers:
    0
    Trophy Points:
    0
    #26
    That's not a good idea. I think the IRS is someone you don't want to mess with. Remember the FBI couldn't even bring down Al Copone but the IRS did. Taxes will get you. Obviously all of us have made minor mistakes with them but I think it's best to play it safe. You don't want to build up your internet "empire" only to have it fall when the IRS comes after your for a lot of money.
     
    shellyreynolds, Oct 27, 2009 IP
  7. FCM

    FCM Well-Known Member

    Messages:
    669
    Likes Received:
    14
    Best Answers:
    0
    Trophy Points:
    155
    #27
    Last edited: Oct 27, 2009
    FCM, Oct 27, 2009 IP
  8. browntwn

    browntwn Illustrious Member

    Messages:
    8,347
    Likes Received:
    848
    Best Answers:
    7
    Trophy Points:
    435
    #28
    It would be best if you stopped trying to offer 'advice' in these legal forums, since you do not know what you are talking about and guessing does not help anyone.

    Anyone who listens to any advice you give is a dumbass.
     
    browntwn, Oct 28, 2009 IP
  9. org

    org Peon

    Messages:
    14
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #29
    I would just save the money in a Bank in Switzerland, then you don't need to pay tax. I already planned to do that with my money. However I didn't make any money yet that I could save there :)

    org
     
    org, Oct 30, 2009 IP
  10. DubDubDubDot

    DubDubDubDot Peon

    Messages:
    458
    Likes Received:
    13
    Best Answers:
    0
    Trophy Points:
    0
    #30
    You should probably get some representation and work with the IRS on this before they find you first.
     
    DubDubDubDot, Oct 30, 2009 IP