Website Business? - Money?
I've started developing a website for myself, i hope to finish it and take it live to the internet soon.
It'll be an e-commerce website, and i'll be hopefully generating some money from it. maybe 20-30 a month in the beginning, depending on how i run the website.
My question is, do I need a business license or anything to have a small website that generates money?
is there a certain amount of money that i can make until i have to start paying taxes with it?
By the way - I'm 16 years old so, yeah i don't pay taxes
i'm still wondering if i need to since i'll be receiving small amounts of money
If you are doing business under your own name, you should not need anything; otherwise you need to at least register the name you use for your web business as DBA (Doing Business As), usually in the local court. Talk to an attorney though as your local area might have different requirements.
You will have to pay taxes on all you make; you will have to include it on you income when you file tax return. Check with a good CPA for details.
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Larry
http://georgiaitsolutions.blogspot.com/
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