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tax

Discussion in 'General Business' started by karl turnbull, Dec 19, 2006.

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  1. #1
    if this is in the wrong place sorry , please remove if it is :)
    hi all , just a quick question , i have a few domains parked at sedo that are making a few $$ a month , does this sort of income have to be taxed !!!! , or is there some sort of amount of money you would have to reach before declaring it , cheers karl
     
    karl turnbull, Dec 19, 2006 IP
  2. cianuro

    cianuro Peon

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    #2
    I don't know what country you are in, but in most countries we pay tax on our income.
     
    cianuro, Dec 19, 2006 IP
  3. karl turnbull

    karl turnbull Peon

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    #3
    i am in england , and yes i pay tax on my income aswell , but is making a few quid a month taxable
     
    karl turnbull, Dec 19, 2006 IP
  4. AnaB

    AnaB Peon

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    #4
    Depends on how much you're making.In some coutnries, only incomes above certain amount like $600 a year from the business is taxable..but in anycase, you might as well fill it out and see what they say or contact an accountant/tax person...
     
    AnaB, Dec 19, 2006 IP
  5. carjamlangley

    carjamlangley Guest

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    #5
    If you are in the States then, yes, you should be declaring it as income. I use TaxCut software and it walks me right through it and leaves nothing out. I highly recommend it.
     
    carjamlangley, Dec 19, 2006 IP
  6. soccerfriend

    soccerfriend Well-Known Member

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    #6
    Here is the correct answer: YOU HAVE INCLUDE THIS AMOUNT IN YOUR GROSS INCOME AND PAY TAX ON IT
     
    soccerfriend, Dec 20, 2006 IP