Liam
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Afternic's 1099-Ks create tax headaches for domain sellers - Domain Name Wire | Domain Name News
Don't forget to pay your taxes, afternic reports it all.
Using Afternic? be prepared for a tax bill! (8.Viewing)
- Topic Starter Liam
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Afternic's 1099-Ks create tax headaches for domain sellers - Domain Name Wire | Domain Name News
Don't forget to pay your taxes, afternic reports it all.
MaiTaiMan
NameNinja.com
The other "gotcha" with Afternic/GoDaddy is that if you BUY a premium domain through them, you will be charged HST if you provide a Canadian address to them when setting up your account.
In other words, the $5,000 premium domain you could buy on Sedo will cost you $5,650 if you buy it via GoDaddy/TDNAM (if you are buying from Ontario, or example, where HST is 13%).
In other words, the $5,000 premium domain you could buy on Sedo will cost you $5,650 if you buy it via GoDaddy/TDNAM (if you are buying from Ontario, or example, where HST is 13%).
I'm actually OK with that, I have to charge GST/HST too. And while this might negatively affect hobbyists, any real business is going to be GST registered and they'll get all the GST they've paid returned as an ITC.
Agreed, the tax is irrelevant if you have a real business. I get it all back and being HST compliant, I can claim the tax back on my office chair purchase as well.
I make money on HST because all the tax on expenses can be claimed back.
I make money on HST because all the tax on expenses can be claimed back.
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