Real Profit

After taxes.

[jchampliaud]

After seeing these threads For everyone - $2739.726 per day is possible [webmasterworld.com] and The quest to $300/day [webmasterworld.com] seems a lot of people are making good money off their web sites. But just a question, is it really that good after taking out taxes? I just got hit with a tax bill of over $1000 (back taxes for 2003 and taxes for 2004) and my site is in the $15 to $20 range. I wonder what someone making $300 would have to pay?

[FourDegreez]

Ethics... are you kidding, the US writes loopholes into the system for a certain class of people. If you are one of the lucky few who are ascending into that priveledged class, there's nothing more American for you to do than to start hiding your profits in offshore tax shelters.

Maybe that's just the cynic in me speaking.

[dylans]

FourDegreez... very well said, and definitely the truth.

[ncasares]

"Self-employed Tax Solutions : Quick, Simple, Money-Saving, Audit-Proof Tax and Recordkeeping Basics for the Independent Professional"

By June Walker

Amazon:
[amazon.com...]

This is by far the most imformative book I've ever found on dealing with tax issues when you're self-employed.

It gives you the basics without introducing all the accountanting jargon.

[edited by: Drastic at 5:47 pm (utc) on May 5, 2005]

[hunderdown]

So if someone else doesn't behave ethically, that relieves you of the obligation to do so? Personally, I am appalled by the behavior of the rich, by the tax shelters that they can use--but does that justify my playing the same games? I don't think so.

[GuitarZan]

Hey,

What games? So if you make 30 large every month, you should have to give the government half of that?

Ok...

C.K.

[antoine]

'So if someone else doesn't behave ethically, that relieves you of the obligation to do so? Personally, I am appalled by the behavior of the rich, by the tax shelters that they can use--but does that justify my playing the same games? I don't think so. '

The government is just going to waste your money playing games like building nuclear or biological weapons. Then again think of the millions spent on flying around the country in private jets. Probably 2% of what you give them actually goes to something decent.

What I suggest is that you shelter the most money that you can and donate 15 - 20% to good causes that actually help real people. I personally like doctors without borders & the dian fossey gorilla fund. The world is in serious trouble everywhere you look and unfortunately most people think that paying taxes helps.

[Michael Anthony]

Well said, antoine!

I couldn't agree more.

[ronin]

This is what is gradually dawning on me.

I'm a big fan of communities paying into a public kitty to support everyone in that community... but I see that what we wish taxes were spent on and what taxes are actually spent on may not be the same thing.

[GuitarZan]

Hey,

In all honesty, I think one of the best things our government spent money on was the 10 million dollar Rolling Stones concert in 2003 - What a joke!

Don't get me wrong, I love the Stones, but this is what we are dealing with.

C.K.