What state would my online business pay taxes to?
I am an active duty member of the US military stationed outside of my state of residence. I pay income taxes to my state of residence, if I were to start an online business and incorporate it, would it be with my state of residence or the state in which I am stationed? I live on base if that makes a difference.
If you wanted to start an online business, and only had $1,000 to do it, what would you do? What type of business would it be?
I'm a django developer who's been trying to bootstrap an online biz with absolute minimum time and money investment possible for the past 6 month. Here's what I would recommend based on that experience:Your goals at this stage should be:a) to obtain a solid proof you have an audience and understand who this audience are (even if you think you already know it)b) figure out the most cost-effective ways to reach said audienceHaving a custom design won't help you in the slightest to do either, so blowing all your budget on it is not the best idea IMHO. There are tons of great free designs around the web.What I would do instead is experiment with various forms of advertising and carefully measure the effect: visitors, newsletter subscribers, RSS subscribers, Twitter followers, backlinks created, etc. (make sure to understand very well what goals you are measuring and how before spending any money). Some places I would try:Adwords search network. Not sure it can work well for an online mag, but keep an eye on cheap low-competition keywords.Stumbleupon paid discovery. What's peculiar about it is that every time a user "likes" your content you get free stumbles. So if you manage to strike the right chord you might end up with a superb ROI. Please google and read some articles about it before trying.Reddit. These guys are hard to please but if you manage to you are golden (or so I hear)Forrst. No experience with it, but if your mag is about UX it might be a really good place to advertise.Facebook, LinkedIn - again, no experience, but they offer good targeting, so worth looking into.Don't spend a lot right away. In most of these places $20 should be enough to get a feel of how your ad is performing. Once you start experimenting and having a user flow it will become more and more apparent where to focus your spendings.Edit: I'm assuming you are creating the content on your own or otherwise getting it for free. If it's not the case then you are probably better of spending all or most of the budget on the content.
Which country would you move to if you had an online business and wanted to pay as small amount of taxes as possible?
Before I may consider a relocation, I would first speak with a professional, whom I would explain exactly all the revenue streams of that business and how and when I would like to take money out of it. That specialist will also take care of any special requirements of people who are unlucky enough to be additionally taxed on the basis of their citizenship, irrespective of where they live.That professional will then be able to tell me whether I should relocate at all, or whether it's a better idea to run only the company from a different country.Depending on the revenue streams and the existence of sufficient substance in the country of incorporation it may even make sense to use two countries, or even more in the setup.The description 'online business' at least, is a very blurry one and not at all of any sufficient clarity needed to make an informed suggestion.Good luck and thanks for asking, Allamdas Sagar
How can I make a living by starting an online business?
If you’re looking to start an online business, and I know many of us are, then the first thing you need to do is understand the result you’re after.Most people start by asking “how” can I do this, or that, but that question will inevitably lead you to failure.Instead, we need to find out what we are after, and WHY we want it. See most people know exactly what they want, then they go out and try to find out how to get it.But eventually they inevitably FORGET WHY they even wanted that thing they’re after, then they quit. Does this sound familiar at all?If you really want to make a living by starting an online business, you need to get super-clear on WHY you want to start this business. That WHY will drive you to your goal, and keep you motivated when you want to quit.So what is your reason? Do you want to be able to work from anywhere? Do you want total power and freedom over your life? How about the ability to say no when you want, and not have to live in fear of your boss yelling at you?Everyone’s reasons are different, so you need to decide for yourself why you want to start an online business.Once you know WHY, your next step is to decide upon what it means to have an online business; what does it look like?Does it involve you waking up in the morning and noticing you made $300 in your sleep? Or maybe it is exactly $3000/month passive income through information products.Again, it’s different for everyone. But as Tony Robbins would say, “CLARITY IS POWER.”So know exactly what it is you’re after, WHY you’re after it, and last, create a plan to get there.What do you need to do in the next 90 days, 30 days, and this week, in order to reach your goal?What skills must you develop? What obstacles have you encountered that you must learn to overcome?What actions must you take on a DAILY BASIS in order to reach your goal? Does this mean finding role models to help you create an online business? If so, that’s easy, just find someone with a successful online business, and observe what they are doing!These three steps, finding out your “why”, knowing what your online business will look like and mean to you, and finally creating a plan is how you can make a living starting an online business.Want to learn more about business? If so consider signing up for my FREE Choosing Your First Profitable Business Idea course.It’s totally free, takes less than a minute to sign up, and is worth checking out.
If I started an online business in the US, and made no income starting out, are there still taxes or expenses I have to pay to the government?
Hi there,So taxes for an online business are more straightforward than most people think they are. I’m a US citizen living in the UK, making a living online, and I have to file taxes in both countries, which means I’ve learned to be pretty familiar with IRS :\Here’s how it works (amounts accurate for 2016–7 Tax Year):“Taxable Income” means your business income AFTER expenses, as you’ve indicated in your question :)Now, keep in mind if you’re married or have special circumstances, this amount can change. You can view the complete lists of charts here.So if you make NO money or negative money in 2016–7, the answer is no, you will not have to pay anything.READ: You MUST FILE taxes no matter what. Even if you make no money at all whatsoever. (Even if you make negative money). Don’t let the IRS screw you over on this one.They will find some magical bureaucratic way to charge you for not filing.It’s easy to file if you made no money, though, you just put “0” in every column :)Warning: Shameless Self-Promotion Coming Up. For more on how I created a successful online business and how you can create your own success, check out my blog, where I give a glimpse into the honest truth about how to find success online: The Etsy Journals - Fuzzy & Birch
Can International Students use Paypal for their online business in US?
I'm an International student on F-1 Visa. 1) Can I use paypal premier service for my online business even if if the bank account is based overseas? 2) If I can indeed operate a site with paypal payments going to my overseas bank account, would I still be considered "working" in the US if I'm just physically located in the US but my site is global and I'm being paid overseas?