Originally Posted by nachoninja
its additional income, just like your normal income - except its not taxed, you will have to pay taxes on it. Figure 30% of what you plan on making this year is what you will owe, you can write off domains, hosting, advertising etc to offset what you owe however. Payment plan? I have no idea
Well right now I don't have a "normal" income, but 30% has to be BS. I'm making close to the same amount as I would if I had a job in my field. Although, I was never taxed 30% of my paycheck.
I'm thinking they have to have a payment plan, on April 15th you have to file your taxes. Although, I've never heard of a, "If you don't pay us what you owe on this day, you're going to jail." or anything like that. On the 15th you have to file your taxes, then they calculate everything and confirm what you owe.
Hell, I don't know what I'm talking about. I guess I should probably speak to an accountant.