How to fuck Uncle Sam Back!

[breest]

Hey everyone, I was wondering what was the best way to pay the least amount of taxes in the US. I mean should i get a buisness licence or just claim it as personal income with writoff's for hosting, hardware ...etc. ANY feedback is really appreciated =)

-Breest
9195661

[Ron]

you might want to get in tuch with an accountant. They might have a better idea..? http://bbs.adultwebmasterinfo.com/ubb/wink.gif

[eRock]

Write off ALL expenses...puter, desk, file cabinet, content CDs, ect. Get a legit accountant (it'll be fairly cheap all things considered), & use it as an e-commerce/Internet siz. they WILL work with ya! If ya want an AWESOME contact in the NW Subburbs (she' great...just tell her Internet), she'll help you find every LEGAL loophole

[eRock]

What I meant was a GOOD accountant in the NW burbs of Chi-town. She's a global acct. jUST LEMME KNOW...

[playa]

file as a coporation

[basschick]

you can deduct part of your rent - look at the deduction worksheet and it tells you how.

you can deduct every penny spent on content, hosting, scripts, advertising, you name it! you can deduct mileage for your car if you go to a p.o. box or office. you can deduct wear and tear on your computer or any other equipment including furniture used for business. you can even write off your internet connection and p.o. box rent!

in short, EVERYTHING you use for business can be deducted - the government wants you to, actually.

you will be filing as an individual doing business. if you want to, get a dba (fictious business name). but you don't have to.

[breest]

Thanks basschick, the car milage was the best part =)

-Breest

[Corter]

Depending on how much you paid for your computer, you can either write it off 100% for the tax year when it was purchased. Otherwise, you have to depreciate it over a number of years.

It is much easier to do it all at once.

There is a saying in business school: "You can cheat on your wife, you can cheat on your friends, you can cheat at cards, and you can even cheat on your dog, but you can't cheat Uncle Sam." Just ask Dillinger in he thinks that is true.

This is the one area not to screw up. If you are doing any significant business at all, just get an accountant to do the numbers for you.