Small Business Saturday: Domaining and Taxes

It’s that time of year again and like it or not you’ll have to do your taxes. Domaining is one of those industries that will be brand-new to just about every CPA you can find. Now if you only own a few domains and make less than $10,000/year you can probably take-care of your taxes on your own. Once you start owning hundreds, thousands or tens of thousands of domains and your income gets into the high five-figure or six-figure range it’s time to bring an accountant into the picture.

I know there are a lot of people who read my blog that are just getting started in the Domaining world. If you haven’t sold a domain and aren’t making any money yet don’t worry about spending your money on an accountant. However once you start making real money in the Domaining world an accountant will be critical to ensuring that your taxes are done correctly and that you avoid getting audited.

When I got started Domaining one of the first books I bought was the Domain Tax Guide, an eBook written by Sandra Brooks a CPA in California. The first year I did my own taxes and from then on I’ve been using a CPA. My CPA has worked with Internet businesses before but Domaining was new for him. I was able to give him the guide which he has used as  reference when doing my taxes for the last three years.

Below are a few testimonials from other Domainers that have used this guide as well:

“A real eye opener!!! Must read book for anyone involved in buying and selling domains”
-Steven Maroulis, DNElite.com

“My accountant and I were looking for exactly the kind of guide you have written with as much ‘back up’ as possible which you did. Good job.”
-Eric Rice, DomainsForMedia.com

“I just finished reviewing the guide and recommend it without hesitation. I found the guide easy to read despite being written by an accountant. Many accountants have difficulty writing about taxes in a way we can all understand.”
-Andrew Allemann, DomainNameWire.com

With April coming-up quickly now is the time to get your taxes done and the Domain Tax Guide can help you get them done right! This is not a sponsored post but I do have affiliate links in the post – if you’d like to cut me out of the equation completely and not give me a piece of the sale please use this link and I won’t make a dime. Whatever you choose to do I highly recommend this book and with unlimited updates it’s a one-time purchase that can help you do your taxes the right way every year.

{ 2 comments… add one }

  • Owen frager March 12, 2011, 9:04 pm

    Why should anyone cut you out? Why even offer that option when your introduction here could help save someone a ton of money. There is no shame from earning a fee for your expertise.

    Reply
    • Morgan March 13, 2011, 10:15 am

      Thanks @Owen – I agree!

      Reply

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