Domain Sale Advice
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- dMullins
I own a couple of domains, and got an offer from a buyer today for one of them.
Is profit from the sale taxable? It's a fairly significant amount.
- anxiousarms0
that's a good question. is a domain the same as a yard sale? you don't have to pay taxes on a yard sale...
- brandelec0
i believe so
what domain is it?
- doesnotexist0
hmm if you sell a car for $15k do you have to pay taxes?
- Milan0
how much?
- dMullins0
GetFierce.com, offer is $4k.
- brandelec0
who's buying it?
sounds like an action movie with v. diesel coming 2011
- tparsons0
Yes you'll need to consult with a CPA and it is taxable.
I know someone personally that sold one for $750k last year. Your CPA would be able to tell you how to pay less taxes.
- johngrif0
yeah i bet it is capital gains if you made a profit on it. why dont you ask one of the sites that sells domains for people. they will know.
- dMullins0
Thanks, my accountant says that it's definitely taxable, and to up my price to include that tax rate estimation.
- tparsons0
I know the guy that owned adwords.com Google had an agent buy it for them so he didn't know who bought it and sold it for way under what it was worth. Negotiate upwards for sure.