taxes on sale of website - WickedFire - Affiliate Marketing Forum

sasquatch · 02-12-2012, 02:10 PM

I've got a call into my accountant but how are you guys handling the taxes on a website sale.the idea of getting nailed for 35% just sucks.
Thx for any advice

BigWill · 02-12-2012, 02:16 PM

your accountant is the sasquatch?

amateursurgeon · 02-12-2012, 02:18 PM

Set it up so it's capital gains instead of income tax. In UK, CGT much lower than Income.

BluAffiliate · 02-12-2012, 02:23 PM

Getting hit with the 35% means you're in the highest tax bracket, and judging from your grammar and that you're asking this question here...

Telva · 02-12-2012, 03:08 PM

In the UK, utilise Entrepreneurs Relief and pay roughly 9% tax after allowances are deducted. My accountant was definitely worth the cost that year

Sharksfan · 02-13-2012, 01:16 AM

Selling a website should never be more than 15% - it's a capital gain.

Hire a CPA if the above is not true.

DreamMachine · 02-13-2012, 03:50 AM

Quote:

Originally Posted by Sharksfan

Selling a website should never be more than 15% - it's a capital gain.

Hire a CPA if the above is not true.

The tax rate on a cap gain depends on the country. Here it's taxed at your marginal tax rate (with a 50% discount if you held the asset longer than 12 months).

learningcurve · 02-13-2012, 03:51 AM

nevermind...lol

Sharksfan · 02-13-2012, 03:49 PM

Quote:

Originally Posted by DreamMachine

The tax rate on a cap gain depends on the country. Here it's taxed at your marginal tax rate (with a 50% discount if you held the asset longer than 12 months).

OK, good point.

In the US - as long as you have some sort of corporate structure - it should be a capital gain.

McBob · 02-14-2012, 10:32 AM

What country are you in?

If you and your client are in the EU, you also have VAT to take into account.

02-12-2012, 02:10 PM	#1 (permalink)
sasquatch Senior Member Join Date: May 2007 Posts: 242 iTrader: 2 / 100%	taxes on sale of website I've got a call into my accountant but how are you guys handling the taxes on a website sale.the idea of getting nailed for 35% just sucks. Thx for any advice Share Share this post on Digg Del.icio.us Technorati Twitter

02-12-2012, 02:16 PM	#2 (permalink)
BigWill A Living Legend. Join Date: Oct 2007 Location: Nebraska Posts: 2,906 iTrader: 0 / 0%	your accountant is the sasquatch? Share Share this post on Digg Del.icio.us Technorati Twitter

02-12-2012, 02:18 PM	#3 (permalink)
amateursurgeon Chloroform Member Join Date: Apr 2007 Location: Behind you. Posts: 2,689 iTrader: 3 / 100%	Set it up so it's capital gains instead of income tax. In UK, CGT much lower than Income. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ Exact Match Domains still work well for SEO Get lists of profitable ones at EMDLists.com

02-12-2012, 02:23 PM	#4 (permalink)
BluAffiliate Senior Member Join Date: Sep 2009 Posts: 1,024 iTrader: 9 / 100%	Getting hit with the 35% means you're in the highest tax bracket, and judging from your grammar and that you're asking this question here... Share Share this post on Digg Del.icio.us Technorati Twitter minsco likes this.

02-12-2012, 03:08 PM	#5 (permalink)
Telva Senior Member Join Date: Aug 2009 Location: RTFM Posts: 224 iTrader: 14 / 100%	In the UK, utilise Entrepreneurs Relief and pay roughly 9% tax after allowances are deducted. My accountant was definitely worth the cost that year Share Share this post on Digg Del.icio.us Technorati Twitter

02-14-2012, 10:32 AM	#10 (permalink)
McBob Senior Member Join Date: Sep 2007 Posts: 123 iTrader: 1 / 100%	What country are you in? If you and your client are in the EU, you also have VAT to take into account. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ Daily reports to help you find aged domains, build scrapebox lists etc....

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode