Comments on: Taxes

By: TylerCruz.com: An Internet Entrepreneur’s Journey » I Owe $30,000 to the Government

Thu, 15 Mar 2007 06:03:36 +0000

[...] Taxes [...]

By: The Ramblings of Erik Sandfort » Review: TylerCruz.com - A Web Entrepreneur’s Journey

Thu, 08 Mar 2007 01:39:29 +0000

[...] Recently I have found my way to the blog of Tyler Cruz, a young entrepreneur who has made it and succeeded in the career we are all striving for. Tyler Cruz, head of the Merendi Network, has proved himself quite capable of making a living off of his websites, such as Movie-Vault.com and PokerForums.org to name a couple of his more successful creations. Right now Tyler reports earnings of roughly $256 per day! Which, doing a little math here, is roughly $7,680 a month, and $92,160 per year. Tyler has recently bought a condo for the hefty price of $250,000. He is living what we consider a dream, he himself sometimes points otherwise – usually with his posts about self-employment Taxes he deals with. [...]

By: Nomar

Nomar — Wed, 07 Mar 2007 22:30:17 +0000

Great article Tyler !!

I am a reader of your blog for a long long time now..

finally took the time to sign up

By: LessThanHumble

LessThanHumble — Mon, 05 Mar 2007 17:34:21 +0000

Wow, you have it lucky actually.

Here in the USA, and especially Arizona, businesses more than likely have to pay monthly tax payments (on top of income tax, social security, etc). I found this out the hard way in 2005 when my CPA instructed me just to wait till the end of the year to file in order to make it worth it all. I ended up getting penalized big time and learned my lesson.

This year, on top of our monthly income, social security, and medicare taxes, we also pay monthly tax payments. The nice thing is, the check at the end of the year isn’t quiet so painful and it all works out.

Count yourself lucky, trust me…

By: jackmoe

jackmoe — Mon, 05 Mar 2007 15:59:14 +0000

I’m almost an accountant, few more years of school and internships left, but, I can say, thank goodness I’m in audits instead of with the tax guys, they have it rough.

By: tylercruz

tylercruz — Mon, 05 Mar 2007 07:32:25 +0000

I remember talking to my accountant about this last year. I still need to claim it as normal. In fact, when you sign up for ad networks, many now make you sign a W8-BEN form basically stating that you are not an American and so they are clear legally for tax reasons.

As far as I can tell, there is no difference from making money outside the country. The only issue that did come up from our conversations was the GST issue. Being self employed, I’m supposed to charge 6% on all transactions, but since 99% of my clientel are from outside the country, my accountant said I should be fine.

By: fry

fry — Mon, 05 Mar 2007 07:27:23 +0000

Yikes. I am also a net businessman and moving over to Vancouver next week so I have been reading your posts with great interest.

Let me know how much you end up paying and how much you managed to write off. I am earning almost $200k a year so I don’t want to even imagine how much I will need to pay once I start living in Canada.

Doesn’t it matter that your earnings are generated outside the country? It’s not like you are working in Canada, you earnings are generated by advertising agencies from the USA, doesn’t that count for something? Where I live right now (Mexico) that is foreign income and I don’t need to pay taxes since I am not earning that money in my country (just as the people that receive dollars from their relatives from the USA, they don’t pay any taxes on it here).