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Do You Have To Pay Tax On Website Earnings

Disclaimer: I am not a Tax Agent and have not study anything related to Tax, I have simply looked into what’s involved in my Tax for my Location. Everyone should consult a Tax Professional for your area for more information about Tax and the money you are earning online.

First I would like to say that the information on this page could be totally wrong for you depending on your location. However it should give you an idea of how to go about your Tax issues when earning money online. Tax is not hard and don’t let it scare  you away from earning money online, you most likely already do your own tax each year as it is.

Keep Records

Make sure that you keep records of everything, from your website hosting account to the money you spend on advertising. Also keep track of all the money that has come in from the website and how much has been spent and on what.

Save Money for Tax

I personally like to put away up to half of everything I earn into a separate account for tax purposes. This way once I get my tax done I have way more than enough to pay my tax and I get like a bonus of the left over money I saved that didn’t go on tax. Depending on where you live you should be able to make interval payments towards your tax throughout the year. This is much easier than having to pay a large sum at the end of the financial year.

How you handle your money is totally up to you and this was some basic information on what I do. Sorry I couldn’t give you more information but you are best off finding actual tax information that applies to you for your location.