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Legal stuff

by bapeman92
6 replies
I couldn't really find the right room for this so it's here...Sorry if it is the wrong section....

Well I have a site that has hosting and all but as I have been lazy I have not really added any content which means I'm paying for hosting and so on with nothing coming in....

Now the real question is what steps should I take as I want to start putting the work in with my site but the first thing is I want to know the legal stuff.

Who here is making good money and pays taxes on their IM earnings?

I want to pay taxes as I don't want it coming back to me and biting my arse and I want to make sure I can settle this before I put effort into IM.

Thanks for any good replies and I'll see you soon
#legal #stuff
  • Profile picture of the author bapeman92
    anyone????
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  • Profile picture of the author bapeman92
    can anyone help me at all?
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  • Profile picture of the author TheBryan
    Banned
    [DELETED]
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    • Profile picture of the author NMedia
      Unsure of corp requirements in UK but first step (after monetization plan) is typically to form a corp entity and review your plan/vision with competent CPA and attorney.
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  • Profile picture of the author Phobos
    I think all responsible people around here pay taxes (or at least I hope so). I value my freedom above anything else and so should you so it's best to talk to an accountant or lawyer that could guide you.
    ________
    Honda VTR1000F specifications
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    • Profile picture of the author paulgl
      If you make enough money to have to file an income tax return, and
      you are a US citizen, you report everything. If you make a ton,
      you can itemize deductions and reduce your tax. For little
      tiny amounts, they may fly under the wire. But if you have adsense,
      do amazon, etc., after a certain level they do get reported directly
      to the IRS. So you can't hide. They will find you. I made a few thousand
      last year IM, reported it, did a 1040, schedule C, schedule A, etc., the whole nine
      yards. Turbotax is wonderful. Been using it for 10 years.

      If you live in the US, the days of free money are almost gone.

      If you only make a couple thousand total, you will not have to file.
      That's for total income. But if you make that or less, what are you
      doing, living under a bridge? A lot of people are like me. They have
      an offline job and report the rest on the appropriate form.

      Someone mentioned UK. I would assume the legalities are similar.
      Obviously the process would be different.

      Paul
      Signature

      If you were disappointed in your results today, lower your standards tomorrow.

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  • Profile picture of the author bapeman92
    thanks to you all it makes me feel a bit more motivated to continue
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