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about the taxes

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  • about the taxes

    I read the thread down the page a bit but I would like to know the specifics of what's involved in taxation in building webpages.
    I live in the US. What are we talking about? I have h&r block do my taxes every year because I don't want to mess with it.
    How does one keep track of what they receive using paypal for example? How much taxes are they going to take out?

    Basically I'd like to know pretty much step by step what goes on.

    Thank you

  • #2
    Taxes is very easy: keep records of your expenses and your revenues (the money you make). Add them all up and subtract expenses from revenues and thats basically your starting point for tax purposes. Your tax preparer/advizer is the only one that can tell you in specific what to do since they know your financial situation.

    My personal, but not legal or in any way to be construed as professional advice is:

    Just start the business, go for 6 months to a year and see if it pans out. If your business is building webpages the chances of it making any money are slim and none.

    If it pans out then see about getting a business license (varies from state to state and county to county) and opening a business banking account and then worry about all the little record keeping bull crap that is the burden of all small businesses.


    • #3
      Thanks Kevin



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