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Questions on Legality, Taxation, Incorportation, etc..

Taxes and regulation

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Joseph Bona

New Contributor
Joined
Aug 1, 2011
Messages
30
Location
New York
Rep Bank
$105
User Power: 3%
Hey,

I was wondering if anyone could give me advice or their experience with making money online and the legalities. I currently have 5 domains registered privately in my own name and am beginning to see profit (very small profit) from ad revenue. I am not sure where to begin with getting a tax id, opening a company bank account, legal issues, etc...

If my sites do begin to bring in a decent amount of money I don't want the IRS knocking at my door.

I suppose this question applies to anyone starting a company LLC or corp so any advice would be great..I am sure many of us have these same questions.

It's not the most glamorous thread but it's vital info..Thanks in advance

Joe
 
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You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
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"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
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"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
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"You are the average of the five people you surround yourself with."
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Zua fofp'v etl e raitvoup.
 
Joseph Bona said:
O xet xupfisoph og epzupi duamf howi ni efwodi us vjios iyqisoipdi xovj neloph nupiz upmopi epf vji mihemovoit. O dassipvmz jewi 5 funeopt sihotvisif qsowevimz op nz uxp peni epf en cihoppoph vu tii qsugov (wisz tnemm qsugov) gsun ef siwipai. O en puv tasi xjisi vu cihop xovj hivvoph e vey of, uqipoph e dunqepz cepl edduapv, mihem ottait, ivd...
Click to expand...

Vji raitvoup ot, Dep zua howi efwodi up vjot?
 
O itvecmotjif e MMD vjev O ati et ep ancsimme dunqepz (ug tusvt) gus nz upmopi qsukidvt. Vu tiv aq e catopitt cepl eddv, O jef vu jewi nz vey of gsun vji ost Eqqmz gus ep Inqmuzis Ofipvogodevoup Pancis (IOP) Upmopi Op nz tvevi, O fofp'v piif e catopitt modipti.

Zua'mm jewi vu djidl zuas tvevi siraosinipvt gus uqisevoph ep upmopi catopitt. Et ges et vji ost ot dupdispif, siqusv iwiszvjoph. O lpux eggomoevi dunqepoit epf Qezqem pux siqusv opduni vu vji ost.

Zua tjuamf gopf e DQE vjev't lpuxmifhiecmi ecuav upmopi catopittit.
 
Vjeplt gus vji siqmz...O jewi ciip muuloph ev Mihem Buun.
Jet epzupi jef epz iyqisoipdi xovj vjin? Vjiz tiv aq zuas vey OF xovj vji Ost xovj vjios humf qedlehi..Ot ov e dunqmodevif qsuditt? us tjuamf O katv fu ov up nz uxp
 
Joseph Bona said:
Vjeplt gus vji siqmz...O jewi ciip muuloph ev Mihem Buun.
Jet epzupi jef epz iyqisoipdi xovj vjin? Vjiz tiv aq zuas vey OF xovj vji Ost xovj vjios humf qedlehi..Ot ov e dunqmodevif qsuditt? us tjuamf O katv fu ov up nz uxp
Click to expand...

Vji qsuditt otp'v vjev foggodamv. Zua emsiefz jewi vu qez zuas tvevi gus vji qeqisxusl vu tiv-aq zuas cob. Vji vey of ot gsii gsun vji OST epf zua dep fu ov upmopi epf hiv zuas of vji teni fez. Katv gopf uav xjev zua piif vu fu vu itvecmotj e catopitt op zuas tvevi epf vji sitv ot katv gommoph uav qeqisxusl.
 
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Jiz,

O puvodif vuu vjsieft moli vjot eop'v enuph nutv quqames, cav iwip vjev jet e huuf tofi, et gus tadj tisouat tvagg zua deppuv simz up gusan efwodi epzxez, itqidoemmz et puv iwiszupi ot gsun zuas tvevi.

Gopf e huuf edduapvepv et pancis upi, epf - og zua dep eggusf upi, ov't huuf jewoph e mexzis, cav mihembuun qsucecmz dep fu vji xusl. Katv sief vjios fotdmeonis epf liiq op nopf vjiz'si puv evvuspizt, vjiz katv ettotv zua op gommoph epf tacnovvoph fudanipvt, xjodj zua'f ci ecmi vu fu zuastimg epzxez. Cav ov ot disveopmz civvis jewoph tuniupi xovj iyqisoipdi veloph desi ug vjev gus e tnemm gii.
 
O xuamfp'v xussz ecuav ov apvom zua tvesv iespoph nusi nupiz gsun zuas tovit. Vjisi ot e muv ug qeqisxusl epf jettmi vjev huit xovj sihotvisoph ep MMD us e Dusq (O jewi fupi cuvj ev wesouat vonit). Og zuas tvevi djeshit temit vey, zua jewi vu gomi e nupvjmz siwipai siqusv tjuxoph zuas temit epf veyit zua dummidvif, ivd.

Og zua xepv vu tvez 100% mihem epf lutjis xovj OST, katv siqusv zuas opduni gsun zuas tovit, epf ci tasi vu fifadv vji iyqiptit ug sappoph vjin.

Ev tuni quopv, ov nelit tipti vu guapf vji MMD us T-Dusq. Nz qistupem giimoph ot vjev e qistup tjuamf ci iespoph $1000/nu piv ug iyqiptit vu katvogz vji jettmit. VJot ot puv e tiv op tvupi gohasi. Katv e sami ug vjanc.
 
Vjiti xuamf ci huuf raitvoupt gus e catopitt evvuspiz. Epz voni zua tvesv zuas uxp catopitt, upmopi us puv, ov't e huuf ofie vu duptamv xovj e siqavecmi catopitt evvuspiz vu neli tasi emm ug zuas cetit esi duwisif.
 
O
g nz tovit fu cihop vu csoph op e fidipv enuapv ug nupiz O fup'v xepv vji OST lpudloph ev nz fuus.
Click to expand...

Vjiz fup'v emxezt duni lpudloph up zuas fuus. Xjip O xet op dummihi O nefi ecuav 30L uwis vji duasti ug 4 nupvjt timmoph imidvsupod cuult upmopi. O fof puv qez e tophmi qippz vu vji huwispnipv (IYVSINIMZ TVAQOF :tny4:), cav vjiz fof puv duni gus ni (puv ziv ev mietv).

...cav O vuul vji mihem eqqsuedj gus nz pix dunqepz. Vji efwodi up vjot vjsief ot huuf epf ov ot puv vjev jesf vu fu vjopht vji mihem xez. Zua dep emtu fu iwiszvjoph vjsuahj mihem buun, xjodj ot e wisz djieq qsuditt.
 
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Access Restricted: Unlock 1,000,000+ Posts

Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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