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Should the internet be taxed?

How are internet advertisement revenues taxed?

  • I was inquiring about opening a website with the intention of generating revenue from advertising. Its unclear whether I would have to remember how much tax I owe, or if it is automatically deducted before I receive revenues. Is there a source explaining this? I don't want the IRS breathing down my neck.

  • Answer:

    Yes, it is taxable. No, it is not automatically deducted. It would be considered "Self-employment" income. http://www.irs.gov/businesses/small/

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Taxes would be your responsibility, not the advertisers.' You would make quarterly payments of estimated taxes. There are several free IRS.gov publications you can order online or download at the IRS web site. There is a tax guide for small business to start with, and that will lead you to other free publications. Don't forget the state tax website. Good luck with your new venture. A CPA might be a good resource.

TheBansheeofBebop

That would be self employment income and no, taxes wouldn't be withheld.

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