Internet Entrepreneurs Must Pay Taxes Too

internet marketers tax ruleMany internet entrepreneurs find themselves quite confused when it comes to paying the taxes on what they have earned. Some of them even believe that they do not have to pay taxes since it is so difficult for the government to track them. Other internet marketers simply refuse to recognize this obligation.

The truth is simple, everyone who earns money has to pay their taxes. All of the money that you earn through your Internet Marketing projects and services is considered income. This income is not exempt just because you made it on the internet. So, yes, you do have to pay taxes on the money you make with Internet Marketing and your taxes are going to be a little bit more complicated than they were when you were someone else’s employee. This article should help you get the facts you need.

What Are Quarterly Payments?

Quarterly payments is when you decide to pay quarterly of what you expect to make for the year. If you chose this option before, you were required to send them in quarterly. Now there is no prescribed time demanding a payment. It may be a wise idea to run this past an IRS agent, and then be sure to maintain exact records and you should have no problem when it comes to making out your annual tax papers. You could get lucky and have paid them more than you should have and get compensated for it!

What Is The Three To Five Rule

The government has broken down internet marketers into 3 categories. These categories are freelancers, entrepreneurs and sole proprieters. The general feeling of the IRS is that these people will probably make money no less than three out of each five years they are in business on the internet. If you consistently show a loss or no profit; the IRS will be looking into your business. If you are able to keep clear and concise records of your income and expenditures, you should have no issues if the IRS should decide to have a look. It is not a good idea to try and be sneaky when reporting your income; you may face a very negative penalty as a result.

Saving money for your retirement is extremely important if you are in the internet marketing arena! Your retirement fund is the key to being content at an older age, even if Internet Marketing is how you intend on earning your income. If you have the right ones you will possibly be able to diminish the amount of tax you will be liable for at the same time as you are securing your future. An IRA will give you a substantial tax deduction.

You should talk to your accountant or a representative at the IRS to figure out what kind of retirement account and fund you should open for yourself. This helps you take care of your tax responsibility and prevent you from having to work for the rest of your life. 

Some marketers struggle to make money online so therefore they are more reluctant to follow tax rules. This circumstance makes it understandable as to why so many internet marketers would like to stay voluntarily unknowing when it comes to these circumstances. Actually, if you are meticulous with your records and are up on current tax information, you should have no problems.

Remember, not paying your taxes when you have earned money online may proof to be a huge error.  You may find yourself  having to pay penalties later or even worse facing jail time. Taxes are not as daunting as they may seem; take your time and figure that for every year you do them, you will be that much more ready for the life of your business.

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social media police

Social Media Growth May Require Goverment Intervention

social crime stoppersTechnology has grown in leaps in bounds over the past 10 years. This has been especially apparent when it comes to the internet. A few years ago the local news was responsible for delivering the top stories of the day, recently however, breaking news stories are being delivered through social media giants like Facebook and Twitter.

Social media is also plays an important role on whether someone gets fired or hired for a job. There has been many instances where employers may check an applicants social pages in the hiring process or just for monitoring their personalities. This great infatuation with social media has also made it a playground for many predators and pedophiles.

While the giants of social media are more strict about their guidelines, there are other social sites that are pretty relaxed. Websites like Omegle.com have platforms where people can meet randomly without much security at all. Recently there has been an increase in cases where social media was the platform for robberies, rape and even murder.

This random incidents have not been isolated to just the random chat roulette sites, they originate from a variety of social sites. The ease in which anybody can create an account anonymously does provide a deterrent for predators looking for the right opportunity. Whether their intentions are robbery, underage sex, or quick hookups, it can easy be done from any public computer.

As of 2014, there is not any government that I know of  that addresses these issues. In the near future however, I believe that some type of law will have to be created to make it more harder for potential criminals to be able to create accounts on these social websites. A logical solution would be to at least require anyone registering for these sites to upload identification at least.

Additionally, a registration process that requires a manual review should be implemented for all social networking sites. There should also be age limits for social sites that keep minors from interacting with adults. Some sites have already adopted this concept creating teen only sites similar to Facebook, but there has to be more strict requirement across the board.

In Philadelphia a  man soliciting for sex ended robbing and raping another man after casually meeting on an online gay community. This goes to prove that these incidents are not just reserved for women and children. Predators are using the online arena to target men, women and children alike. Politicians must put on their thinking cap now before this becomes the norm. While these online communities are great for meeting and staying connected with friends and family, they still need to be policed  like regular neighborhood communities.

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