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Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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#1 |
Confirmed User
Join Date: Feb 2003
Posts: 6,040
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![]() They are usually pretty small, but they add up so I write those suckas off ... do you?
-p |
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#2 |
In Tushy Land
Join Date: Oct 2002
Location: Nebraska
Posts: 40,149
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yes
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#3 |
Confirmed User
Join Date: Apr 2002
Location: Vegas/Pacific Palasades
Posts: 3,150
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No.
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#4 | |
Confirmed User
Join Date: Feb 2003
Posts: 6,040
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Quote:
I have my checks fedexed from one sponsor at $10 a pop .. turned out be about $500 at the end of the year (weekly payouts). ![]() |
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#5 |
Confirmed User
Industry Role:
Join Date: Oct 2003
Location: North Carolina
Posts: 4,257
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Of course, it's a business expense
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#6 | |
I'm Lenny2 Bitch
Join Date: Mar 2001
Location: On top of my soapbox
Posts: 13,449
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Quote:
So you don't necessarily write them off when you're paying fees to receive money....just when you're paying a fee to send money ![]()
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#7 |
Too lazy to set a custom title
Join Date: Apr 2004
Location: Buffalo, NY
Posts: 35,218
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of course i have a few thousand recipts to write off everything is legit though...
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#8 | |
The one and only!
Industry Role:
Join Date: Nov 2002
Location: Atlanta, GA
Posts: 17,761
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Quote:
Way in the beginning I was like...can we show the fees we paid to our 3rd party processors? Our accountant was like no....since you never actually got that money and you never paid out of pocket. It's more hassle than it's worth I feel.
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Mandy's Playhouse Her First Fat Girl If you're interested in promoting my sites, ICQ me! 178411921 |
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#9 | |
Confirmed User
Join Date: Feb 2003
Posts: 6,040
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#10 |
I'm Lenny2 Bitch
Join Date: Mar 2001
Location: On top of my soapbox
Posts: 13,449
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Alot of people are under the illusion that there's something magical about a tax write off.....I guess from the movies or some shit.
All a write off does is reduce the amount of income you pay taxes on, but some people think if you have a $1000 write off it reduces your tax bill by $1000....that's not true.
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#11 |
Pounding Googlebot
Industry Role:
Join Date: Aug 2002
Location: Canada
Posts: 34,469
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Of course, its a business expense.
WG
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I play with Google. |
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#12 | |
UNSTOPPABLE
Join Date: Aug 2003
Location: UK :: ICQ# 156068
Posts: 11,569
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#13 | |
I'm Lenny2 Bitch
Join Date: Mar 2001
Location: On top of my soapbox
Posts: 13,449
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Quote:
BTW, have I mentioned that you're a seriously sexy biatch? ![]()
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#14 | |
Drunk and Unruly
Join Date: Jan 2002
Location: Hollywood
Posts: 22,712
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Quote:
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I've trusted my sites to them for over a decade... Webair, bitches. |
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#15 | |
Confirmed User
Join Date: Feb 2003
Posts: 6,040
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Quote:
Shit, I'm still paying off taxes from two years ago .. every bit helps! -p |
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#16 | |
Confirmed User
Join Date: Sep 2003
Posts: 4,209
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#17 | |
Confirmed User
Join Date: Jul 2004
Location: Long Island, NY
Posts: 5,430
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Quote:
say a sponsor pays you $100 for the pay period minus the $10 fee = $90 to you. the sponsor will 1099 you $100 not $90 and you must report $100. If you report a different amount then the sponsor is reporting, then the red flags go up. You got paid $100 then you paid the sponsor a FEE of $10 |
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#18 | |
I'm Lenny2 Bitch
Join Date: Mar 2001
Location: On top of my soapbox
Posts: 13,449
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Quote:
I throw 1099's in the trash. Also, there should be a line (or addendum) on the 1099 for the expense which you could then write off.
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#19 | |
Confirmed User
Join Date: Jul 2004
Location: Long Island, NY
Posts: 5,430
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Quote:
To figure out how much in taxes you will save, just subtract your tax bracket % by $1,000. So, I'm in the 35% tax bracket plus around 8% for state, that's 42% 42% of $1,000 is $420 So for ever $1,000 in deductions I can come up with, 42% stays in my pocket. |
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#20 | |
Confirmed User
Join Date: Jul 2004
Location: Long Island, NY
Posts: 5,430
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Quote:
Ha Ha,,,here is a good tip,,,,LEAP options are NOT reported to the irs Plus,,,if you do make an honest mistake ((((cough cough))))) under the new rules,,,the IRS only has 3 years to catch it. so anything you did 3 years ago is now in the clear ![]() ![]() ![]() |
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#21 | |
I'm Lenny2 Bitch
Join Date: Mar 2001
Location: On top of my soapbox
Posts: 13,449
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Quote:
People say shit all the time like why don't you buy this and that and this for 10K....you'll get to write it off.....as if I basically get these things for free just because I get a deduction. But it doesn't work that way. Also, if you get audited, the IRS doesn't care so much about 1099's.....they're going to want to see your bank records. If I have 50K in 1099's but put 100K in the bank, they're going to want to know about that other 50K.
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#22 |
ICQ: 197-556-237
Join Date: Jun 2003
Location: BRASIL !!!
Posts: 57,559
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I don't really pay taxes....
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I'm just a newbie. |
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#23 | |
I'm Lenny2 Bitch
Join Date: Mar 2001
Location: On top of my soapbox
Posts: 13,449
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Quote:
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#24 |
Confirmed User
Join Date: Dec 2004
Location: Down your street
Posts: 2,513
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I write off the snacks I eat while working. Save those receipts.
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#25 |
RIP Dodger. BEST.CAT.EVER
Industry Role:
Join Date: Dec 2002
Location: NYC Area
Posts: 18,450
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I do too.
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-uno icq: 111-914 CrazyBabe.com - porn art MojoHost - For all your hosting needs, present and future. Tell them I sent ya! |
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#26 | |
Confirmed User
Join Date: Dec 2004
Location: Down your street
Posts: 2,513
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Quote:
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Don't reply. Let it die. |
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