Comments on: Budgeting taxes for self employed

By: ZK@WebTrafficROI

ZK@WebTrafficROI — Fri, 26 Sep 2008 14:04:44 +0000

I came across your site on Google while I was searching for information of “affiliate marketing taxes in Ontario”. I am an affiliate marketer and was told my by accountant that I would have to pay a GST on all my affiliate sales. I just wanted to confirm if any of you know about taxes for affiliate marketer in Ontario. Is it based on sales or profits ? and how much is the percentage …I mean do I have to pay GST as wll as tax on my income earned….Would apprciate your help on this…

By: Dayne

Dayne — Tue, 22 Jul 2008 12:20:44 +0000

Chad, any suggestions on corporate entity’s? I’m trying to find a decent accountant to make the switch from sole proprietor by this coming net-15 payment so I can start the tax savings immediately. Just not exactly sure which model is best for a single affiliate marketer in Florida.

By: Gee

Gee — Mon, 21 Jul 2008 12:39:12 +0000

Great post! Isn’t corporate taxes around 15% in Ontario?

I’m the process of getting a corporation registered. One of my high school friends, who is an accountant is helping set up everything. He says to pay your business taxes every 3 months. I like your idea of setting up a separate saving account for taxes. Same way setting up a separate account for your profits.

With my day job, my personal income (apart from my business income) will go over 100k this year, putting me in high tax bracket. I have some how figure this out.

By: Black Tactics Marketing

Black Tactics Marketing — Sat, 19 Jul 2008 19:51:09 +0000

I forgot about taxes lol! Now I have to look at my earnings as if I only pocketing 2/3 of what Im actually earning, which is a bummer. But as everyone knows there all sorts of “loopholes” to get around 30% taxes, to more like 10 or 15%.

By: Affiliate Marketing

Affiliate Marketing — Fri, 18 Jul 2008 22:21:34 +0000

Great article…

Thanks for the tip… I find this number to be a great approximation too.

~Jony

By: Chad

Chad — Fri, 18 Jul 2008 19:34:39 +0000

But personal income is also taxed then too, right?

By: C Man

C Man — Fri, 18 Jul 2008 19:17:14 +0000

I thought it was 17% here in British Columbia, when did it go down 2% to the 15% tax bracket? Yeah we have less corporate taxes than U.S. corporations for sure.

By: Jonathan Radande

Jonathan Radande — Fri, 18 Jul 2008 16:16:13 +0000

I sure wasn’t disciplined enough when I first started making money online. It’s just so easy to spend the money! Besides, you’re going to make more next month, right? Wrong!

I owed money to the IRS for 3 years in a row! I’ve finally caught up and paid my balances off.

This year I’m on track. I’ve been saving 35% of each month’s net profits into a my business checking account, so I shouldn’t have any problems.