I am currently in like 10 networks... Was wondering how hectic it is when it comes to paying tax at the end of the year.
As long as you are keeping good records for every source of income and every business expense you have... it should not be hectic at all. Instead of waiting until tax is due... you can plan for it by ensuring you have the receipts at hand as and when you get them (and even a very basic monthly sheet listing income and expenses will help you quickly find the figures needed for your tax form). Filling a tax form is only a hassle or problematic if you don't keep your records organized
What kind of receipts? I am currently only 17 so yea this is my first time around into this tax world. Help please
Some type of receipts are: 1. webhosting costs (print out the invoice) 2. domain price (print out invoice etc) 3. advertising costs (print out invoice) 4. outsourced work (print out invoice) Basically anything you pay out and it is used for your busines, you should look at having a receipt for it - or getting a receipt. Even paypal can be used to help you keep track... but it is good to have individual receipts instead of just a list (a list is useful for summary purposes - maybe a monthly printout of paypal income and a montly printout of paypal invoices paid etc)
well IF you use white hat way.one website use 2-3 affiliate accounts is okay.depend on you. IF you use black hat way,like me .you need as much as possible.1 account can make money about 600-1000/month. IF you ues gry hat way,you got 100-300 accounts is okay. One person runs cpastrom 200 accounts ,earn about 100K/month. One person runs clickboth 150 accounts,earn about 70K/month both of them use gry hat way(combine white hat and black hat way) I have about 10 accounts from big company.(click follow company).Now I run make 3000/month.I worry about this account will be banned so I didnot run too much. Totally I have about 150 accounts. Follow company can make 1000 /month by black hat way AzoogleAds CPA Storm CPA Empire Hydra Network NeverBlueAds clickbooth IncentaClick
You would need to speak to your local tax office and find out what you can deduct... it all depends on what is business use and personal use etc. If you paid bills like electricity, you could have some allocated as business use (like maybe 25% of it or something). Similarly, as the computer is both business and personal... depends when it was bought and reason for puchase. The same goes for the associated peripheral equipment.
Have scaled it down to about 8 networks and then under each network probably 2/3 affiliate accounts. Main reason for this is i separate my business activities into 3 areas High, Medium & Low Risk. So if my high risk marketing antics go wrong or attract attention then I can drop the account and it wont affect other projects. In terms of reporting most affiliate networks let you run annual reports if you dont keep up with your monthly accounts. First day of every month I probably spend the whole day just running reports and filing them in a mammoth spreadsheet - makes like a lot easier for accounting purposes.
Is there a need to make tens of account ? And how to make it ? All LLC ? "IF you use black hat way,like me .you need as much as possible.1 account can make money about 600-1000/month." why ? cause of taxes or ban ? I mean lets say I have account in every CPA network and all it with my little LLC so W-8/W-9 are all the same each time. Where is a need for 100 diferent accounts on 1 network ? Will this stop someone to earn 100k/month under his name or what ? Can somebody please explain ? I always wanted to know that.
I've signed up for about 20, but currently use 5-6. I like to spread everything out so not all my eggs are in one bundle. It's not too hectic because I have an accountant, which makes things a whole lot easier.
Can someone please answer to my questions above ? konoco, which exactly problem ? I reccomend you to find someone USA based and do everything via his LLC. I am more than sure you can find someone who have both presence - singapore and US, that's what you need.