Forum Moderators: skibum
I'm currently considering other options such as asking one of my parents to set up a LLC and transferring the ownership to me when I'm 18. I would just like to know if anyone operating an affiliate site has been sued before by a disgruntled consumer who was unhappy with the merchant site and will a LLC protect my parent's other assets in the event the site does get sued. I'll not be using any blackhat techniques, but I want to cover all the corners.
I would also like to know if there are any members from Hong Kong operating affiliate sites. Firstly, would you have to even apply for a business license and secondly, is there a need to pay taxes on the income made? Thanks a lot for everyone's help.
Last time I checked, none of the networks ran a photo id. Lie about your age. What's the worse that can happen? They pull your account and you have to sign up for a new one.Boy, worried about suing? You've put more thought into this than you should. It's not something you need to worry about.
Now now now...you are not supposed to condone this behavior. This advice needs to come from a peer. ;-)
Sure, it's the right answer and the easiest way to avoid the grifter brother, but we should all lead by example.
(meanwhile, this is the best .... and correct answer .... for most things, age isn't anything but a number. You've already demonstrated that you have more than most your age ... don't let the fact that you are 17 hold you back)
I cannot pathom an already over-taxed DA bringing charges against a 17 year old for falsifying their age by a few months when there are bigger fish in the sea to fry!
Of course, if I were in their shoes, I'd probably be sitting before a judge -- but it has been proven that my luck is not the best.
A valid argument is to be made about the 10% likely being easier and cheaper than setting up an LLC. But (there is always a but), you also have to rely on your brother to make timely payments to you ... plus that he properly calculates his personal tax liability. All you need is him coming back to you at the end of a year saying "oh, by the way little bro, you owe me $1500."
I have also learned that it is usually never a good to mix business and pleasure, unless it's a long standing family tradition.
Although I believe I will not be caught even if I just lie about my age, I dont believe its the ethical thing to do and will try to search for other trustworthy family members.
If ya want to form an LLC, I've got a link for ya;)
If I understand correctly, you live in Hong Kong and the affiliate programs you want to join are either based in the US or the UK? What incident do you anticipate happening, that someone would go through with the expense and trouble of international channels to sue you?
Basically, I guess I'm just paranoid when it comes to all the legal jargon. My site has already been up for 4 months and it has around 100 unique visitors a day now. I'm going to do a massive revamp and add in all the affiliate links once I get everything settled. Based on everyone's opinions and answers, it now seems a bit farfetched that consumers would go through all the hassle just to sue me through international channels.
Now if everyone does not mind, I would like to direct the discussion into another direction. I was wondering if there were others who are also based in HK could advise me on the amount of taxes they pay and the legal structure they use for their business.