Making Money Online ??

Discussion in 'Monetisation Tips & Tricks' started by Paddy Irish, Jan 2, 2012.

  1. Paddy Irish

    Paddy Irish New Member

    Hello Everybody,

    I have been following several of the big bloggers in America who make money online from niche sites through Google Adsense, affiliate programs etc etc. But I never really hear them talking about the business side of the work like setting up a company, paying tax / vat etc etc. And I suppose there is no point asking them really anyway because I live in Ireland

    I have never set up a company before as I have worked for people all my life so being honest I have no clue where one would start. I like the idea of making money online but some of these bloggers just make the idea sound way to easy which in fact it is anything but. I am only working part-time at the minute and I have a wordpress blog up and running as a hobby. I just know the basics and anything I have learned has just been through my own research online.

    I would just like to know if I was to try and make money online do I have to set up a company as I presume you would have to pay tax on income made online ??
     
  2. mneylon

    mneylon Administrator Staff Member

    You don't need to setup a company. You can either declare your extra income or if you're earning enough to live on, setup as a sole trader.
     
  3. breik

    breik Guest

    To make big money you need to know php, ruby, seo or to work freelancer.
     
  4. link8r

    link8r New Member

    Surely the rules differ from state to state?

    Once you setup a business, you're automatically a sole trader, what else would you be?

    The onus is always on the business entity to notify the state, not to have the state come to you - that's just absurd. Do you just make up replies and go with that or did you check any facts or regulations for any jurisdiction or are you just building up post count for signature links. Excuse the cynicism, it gets better over time.
     
  5. darrylb

    darrylb New Member

    You can be a sole trader and the best thing to do is speak with the Irish revenue and they will talk you through your options for free.

    You can go through the expense of setting up a company, but it depends on your revenue stream, if over a certain amount you can register for VAT etc. If you set up a company you will need to file annual accounts with the CRO (another expense). So you will have to weight up the pro's and cons. There is also nothing stopping you from being a sole trader at first and doing an annual tax return with the revenue (double check with them deductible expenses). Then as you earn more, look into setting up a company.
     

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