Home / Blogs

Will You Need a Domain Tax Guide?

It’s tax time again. If you are like most domainers, you are a little hesitant about filing your tax return. This is not just because you dread paying Uncle Sam like most taxpayers. It may be because you are unsure of whether you are reporting your domain purchases and sales correctly.

Despite the growth of domaining, it is still a relatively young and small industry that has not yet gained the attention of the IRS. There are no tax laws or tax court cases directly related to the domaining industry. As a domainer, you need to understand your core business and prepare a solid and defensible tax policy that is a) based on existing tax code for similar industries, b) consistent, and c) well documented. Be proactive and you can ease your tax-time worries.

Sandra K. Brooks, CPA is the author of the recently released Domain Tax Guide, which includes a comprehensive analysis of the tax issues surrounding the domaining industry and step-by-step instructions for tax preparation for a domain business.

By Sandra K. Brooks, Certified Public Accountant (CPA)

Filed Under

Comments

Comment Title:

  Notify me of follow-up comments

We encourage you to post comments and engage in discussions that advance this post through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can report it using the link at the end of each comment. Views expressed in the comments do not represent those of CircleID. For more information on our comment policy, see Codes of Conduct.

CircleID Newsletter The Weekly Wrap

More and more professionals are choosing to publish critical posts on CircleID from all corners of the Internet industry. If you find it hard to keep up daily, consider subscribing to our weekly digest. We will provide you a convenient summary report once a week sent directly to your inbox. It's a quick and easy read.

Related

Topics

Brand Protection

Sponsored byCSC

Cybersecurity

Sponsored byVerisign

Domain Names

Sponsored byVerisign

Threat Intelligence

Sponsored byWhoisXML API

DNS

Sponsored byDNIB.com

New TLDs

Sponsored byRadix

IPv4 Markets

Sponsored byIPv4.Global