Internet Marketing Expenses
Company: LLC, C-Corp, Sorp – Taxes on Profits?
I am currently working with a few CPA Networks. [NeverBueAds, Azoogle, Copeac]
I am doing around 1-2K month now, and I don’t know what I should do about Taxes. All that 102L of revenue is not pure profit, I also have expenses that are used to make that money, about 1K/month. I need to fill out a W-9 form before I could get my earnings. However, I just do it under my own name, as there is really nothing to worry about.
However, would I need to set up something, like a LLC or something, I feel I should only pay taxes in my profits and not on all revenue. So I would be writing off computers, internet, % of my home for office space, and then other things related to my Search Marketing process.
Thank you for any information you may have.
You don’t have to complicate your life and create an LLC, C corp or S Corp.
You can do sole proprietorship right now, especially if you are not in an industry where you are most likely to be sued that you need to do a corporation or LLC to protect your personal assets and separate it from your business assets.
You’re only starting with your business and earnings are not high. You can start slow and do a sole proprietorship
Use Schedule C to list your income and expenses. You can deduct from your taxes your business expenses such as webhosting fees, advertising fees, purchase of computers, office supplies, even do home business deductions if you operate your business from home.
Read the following IRS publications
Small Business and Self-Employed One-Stop Resource http://www.irs.gov/businesses/small/index.html — this is the main page with links to what qualifies as business deductions.
Schedule C instructions http://www.irs.gov/pub/irs-pdf/i1040sc.pdf
Business Use of Your Home (for home based businesses) http://www.irs.gov/pub/irs-pdf/p587.pdf
San Antonio Local Internet Marketing – Small Business Marketing
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