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How do I make pages for my website(I am using 123 reg)?

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First question I have is How do I make pages for my website(I am using 123 reg)? Hoping for any response. Second question of mine... Hi, do domaineers get income tax?.

Is trading HostGator names considered an income or a capital gain? Will the IRS know about this if you don't report?..

Comments (5)

I would like to know the answer too. Anyone here know what is the right answer. I'll do some Googling and get back to you if I got an anything. You should email the people at 123 reg as they probably can help you..

Comment #1

If you make a $10 sale, IRS may not be able to know, But if you make 100K sale, IRS will definetly know about it. And proft caused out sale is definetly taxable, so you can only pay less tax by keeping a record of all your expenses which includes:.

1. HostGator registrarion and renewal charges..

2. Hosting and software charges.

3. development charges.

4. Your computer and hard ware cost..

5. Even your internet connection charges can be tax saving..

6. You can simply hire your two minor children: For example, if you hire your two minor children and pay $6,400 to each of them, you save $3,968 on your income tax (6,400 x 2 x 0.31, assuming you are in 31% tax bracket). Your children would claim $4,400 as Standard Deduction and if invest $2,000 in Traditional IRA, would pay "0" tax on their income. This technique not only saves you income tax, but also $1,958 on your liability for social security taxes (12,800 x .153)..

I may miss few other things that you could show as legitamate expenses out of the sale..

But yeah, capital gains are Taxable...

Comment #2

1. I live in Asia and if I sell a HostGator to somebody in US, then in which country will I be liable for tax? In my local country or US?.

If the answer to (1) is local tax, and if my local tax law states that capital gains are exempted from tax, then does that mean I don't have to pay any tax on the profits I make?.

I know if buying and selling HostGator happens on rare occasions, then it will be deemed as capital gains. And if I buy and sell often, or if I depended on the profits on my HostGator sales for a living, then the IRS will see the gains as an income gain, hence subject to income tax..

Are there ways to ensure that the profits from HostGator trading is viewed more towards capital than income?..

Comment #3

Taxation is always complicated!!.

It depends in which country you live in. For example you live in.

INDIA.

:.

1. Profits/gains are subjected to taxation..

2. If you sell just domains, there is not much problem, but if you sell developed websites, that means it attracts various other taxes. And also you need to have an EIC(export imort code). Tax people see it as services being exported. As I said, if the money involved is peanuts, you dont have to worry much. If it generates $$$$ then you will be in problem, if you dont show them in tax returns..

3. How you are going to recieve the money to your country from USA? Now a days there is a lot of observation going on all the $$$$$ that crosses borders. So becareful if a lot of money is involved, tax man can bell your door any time...

Comment #4

If a sale is treated as a capital gain.

Can you re-invest the proceeds into another.

Domain and not pay taxes?.

The same way we do a 1031 exchange in real estate:.

Buy a house for 100K, sell it for 150K,.

But don't pay tax on the 50K if you re invest in another property...

Comment #5

I think that the law require to pay taxes on everything that you've gained. In order to pay taxes, you have to register your activity. HostGator business is not exactly that, because you register a HostGator name and you find a buyer who give you a higher price than the reg fee. I think it is the same as if you buy a car and than sale it for a higher rate..

XF.com, is right! If you buy 2-3 domains and sale them, I don't think it is illegal not to pay taxes, but if you start a huge business and you have CONSTANT gaining, you have to pay taxes!.

On the other hand, if you sale your HostGator to non-US citizens, practically your business is not located in US and, in my view point, you don't have to pay taxes..

ANYWAY, I recommend you all to turn to the law, because not paying taxes is a strong non-observance of the law...

Comment #6


This question was taken from a support group/message board and re-posted here so others can learn from it.