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Lean Generation / Paying Taxes

by seolead
4 replies
Hello,


I started doing lead generation where I would take services people were offering bump up the price a little and then find people to buy the service. I was only expecting to make a little side money. I take payments mainly through paypal.

Well the business has been picking up ALOT. I am now making in the high 4 figures per month. My question is how taxing would work for the usa.

I do not have a website or business. I mainly do this on the side and had email/ cold call services going.

Does anyone have experience on how the taxing process would work on this. Could I file it as self-employment?

Any info would be great
#generation #lean #paying #taxes
  • Profile picture of the author pewpewpewmonkeys
    You will want to report it as self employment, and if you're making that sort of money then you should think about starting an LLC. LLC = you're taxed the same as an individual but you have a legal barrier between your business work and personal property/wealth.

    It counts as income so you pay *income* taxes, and it falls under self employed work.
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  • Profile picture of the author WillR
    You just have to report it all as part of your personal income if you are not incorporated.

    Make sure you do because there's nothing worse than getting audited and having to pay back years worth of unpaid taxes.
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    • Profile picture of the author Kevin_Hutto
      My advice would be - dont take tax advice from a forum about internet marketing. If you are making high 4 figures a month then you can certainly afford to pay a professional to help you do things right.
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  • Profile picture of the author seolead
    Thank you all for your input. This is very new to me and this type of income did not start happening until now. I thank you for your advice.
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