Cross the T's and dot the I's

Last Update: April 10, 2013
Today I had an appointment with the Inland Revenue Dept.......quick...RUN!

I use to avoid the taxman like the plague...actually, I use to avoid the whole system if I could...I just could not bother with thier B.S. Having 'Big Brother' hovering over me with a magnifying glass just isn't my thing....so it's quite ironic really that here I was EAGERLY walking through the taxman's doors with a grin on my face...why?....because I am planning on my financial future in business The Right Way!.

Whatever you are planning to venture in online, if you are intending to make a considerable amount of money in it...it is classed a business no matter what you say....and when it comes to making money, guess who wants a piece of it....that's right.... The IRD...

Now every country has thier own tax laws that you will need to enquire about. You need to be aware of your obligations because no matter how you try to avoid it...with this day and age of digital technology, the taxman will eventually find that paper trail and bite you hard if you leave it too late and play ignorance

Time and time again I have heard of celebrities and wealthy businessman being stung hard because of tax evasion...and this is something that I don't want or need to be in...it just isn't worth it!

So where ever you are on this beautiful planet...if you are planning to make your venture online a long term, successful business....then cross the T's and dot the I's right from the start. Enquire about the tax laws in your country and how you can use these laws and manipulate them to your favour so you're not paying more tax than you should. This is where a good accountant comes in, but if you can do the hard yards, and research alot of it yourself...you're saving money!

Hit your local library for local resources.....knowledge is Power!

Good business is Smart business....start things right and you'll be on your way to success!


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jatdebeaune Premium
Yes, nobody needs that stress. Just take all the deductions you can. The right accountant can save you a bundle.
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Everisingsun Premium
Yup for sure...it will also pay to ask each potential accountant beforehand what style or system of book keeping they prefer thier clients to use.....this will save the accountant time and save you money from being charged extra for the account to redo the book keeping, etc...but overall, a necessity to get this side of business right from the get go!
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Shawn Martin Premium
Very wise advice. Thanks for sharing it.
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Everisingsun Premium
Thanks Shawn...it's so easy to not bother about it because we're only small fish in a big pond...but as you and I know....in the internet world, small fish can get mighty big very fast!. A prime example is Nick D’Aloisio, the 17 yr old who sold his mobile app to Yahoo for $30,000,000USD....now I'm pretty sure mr taxman will be knocking on his door...
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Shawn Martin Premium
LOL< yes, he will be getting a call at least.
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Patricia R Premium
You made an important point. Thanks for reminding us.
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Everisingsun Premium
You're very welcome Patricia.....starting with a solid foundation is the key to building success in the long run!
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Thanks for the information! I think it's very useful.
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Everisingsun Premium
Hey, thanks Makaveli - you are at such a cool age to get into business, the last thing you want to do is to start off on the wrong foot...set yourself up in business properly, and look at the IRD just like figuring out the internet..."how to make it work for you and your business so you can be a success!"
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art tech Premium
Great post to make others aware.There are also free tax and revenue course running. I have been on a couple and they were great. I can file my returns no problem now. routine book keeping helps too!
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Everisingsun Premium
Cheers art. It's an eye opener and definitely worth every minute learning about. Making money online can be a successful venture if you play it smart!
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