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View Full Version : taxes on selling a website ?


s2kinteg916
05-01-2005, 04:24 PM
what kinda taxes are applicable when selling a website ?
r2d2
05-01-2005, 05:41 PM
What country are you in, and is the website owned by you personally or by a business you own?
s2kinteg916
05-01-2005, 06:07 PM
I am sorry for not including information

US and its a personal site......
AndyH
05-01-2005, 07:43 PM
Capital gains maybe?
Chris
05-01-2005, 08:54 PM
If its a business asset or investment held for over 1 year it'd be capital gains, but better check with an accountant.
s2kinteg916
05-02-2005, 01:16 AM
so a website is considered a capital asset ? am i correct ?
chrispian
05-02-2005, 12:45 PM
If it's not business and you sell it if you make profit on it you own taxes on the profit. Remember, they just said if your a business, you said it was personal. You really need to talk to an accountant to be sure though. But the IRS works like this. You make money, they take money. Period :)
s2kinteg916
05-02-2005, 02:23 PM
wouldnt a personal site tha tmakes income be considered a business ?
moonshield
05-02-2005, 02:27 PM
it probably is considred a hobby, it matters if you are operating under a business license.
AndyH
05-02-2005, 04:29 PM
It will probably be classed as personal income and taxed at your own bracket rate.
James
05-02-2005, 06:33 PM
It will probably be classed as personal income and taxed at your own bracket rate.
Yes, I believe this is correct. Though, I'm not sure, or an accountant.
Chris
05-02-2005, 07:19 PM
Personal investments held for over 1 year are still capital gains.
Todd W
05-18-2005, 06:03 PM
We can all speculate or you can contact someone who does this for a living in your area and they can give you a more definate answer than almost anyone here.