Legal Question in Business Law in Illinois
How can I make money with banner exchanges on a website and do I need to pay taxes on that or set up a corp.?
1 Answer from Attorneys
This is a forum for general legal information, so any "how can I make money with..." inquiries are not likely to elicit useful information. Such income would most certainly be taxable. Incorporating (or establishing an LLC) is often a good idea for liability protection and/or possible tax advantages.
Circular 230 Disclosure: Any tax advice contained in this message is subject to the following limitations: Nothing herein is intended to convey an expression of an opinion as to the likelihood a tax position would ultimately prevail if challenged by the IRS. This advice was not written, nor can it be used by the person to whom it is addressed (or anyone else), for protection from penalties that might be imposed by the IRS. This advice is intended solely for the person to whom it is addressed; no one else should rely on the tax advice provided herein. The person to whom this advice is addressed is under no obligation to keep this advice or matters related to the advice confidential.
Related Questions & Answers
-
Can a company continue to use your email address if you are no longer with that... Asked 2/15/10, 9:11 am in United States Illinois Business Law
-
What is allowable in dollars to gift to a customer / client? Asked 2/15/10, 8:19 am in United States Illinois Business Law
-
I worked for a small business for 21 years, the owner passed away and new owners... Asked 2/13/10, 5:20 pm in United States Illinois Business Law