Hi, I'm intresting in started a pixel advertising type website(please don't laugh I have a good spin for it ) What I'm wondering is do I have to worry about paying taxes on what I receive(the payment medium is paypal)? I know absolutely nothing about tax laws ect, and I don't want the IRS to hunt me don't for tax evasions. Thanks!
Income is taxable. Keep track of the income from your site (good luck with a pixel, the most overworked hype on the net right now). Keep track of your expenses (hosting cost, script cost, etc relating to that site). IRS is not a meanie organization, if you play by the rules. They do have a section or group that does nothing but look at online revenue, etc. They do keep track of sites and if there is income, it had best be reported.