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Domain Tax Strategy: Sell Domain Names This Year


When possible, I generally like to defer big end of the year sales to the following year for tax purposes. I am not a tax expert or even a fake tax expert, but I liked the idea of not having to pay taxes on a sale until the following year, so I always just assumed it was better to move a large November/December deal to January.

I read an article posted on Sedo and written by noted CPA and domain tax expert Sandra Brooks, author of the Domain Tax Guide (affiliate link). One very interesting nugget stands out from the article that was surprising to me, and it may change the closing date of a sale I have pending.

According to Brooks,

"Your best strategy may be to presume that the rates will go up, especially if you are in a higher tax bracket. You should lean toward selling domains now versus next year if the terms otherwise make sense. You may also want to defer deductions as they will become more valuable if the tax rates increase."

As with all tax guidance and advice, it's always best to speak with your own accountant who → Read More

Fourth Quarter Estimated Taxes


Well, it's almost that time of year again. Most of us dread paying taxes, but I suppose if you have an estimated tax payment due for Q4, your business is alive and well. Estimated taxes for the fourth quarter of 2009 are due on January 15, 2010.

Here's some info from the IRS to learn about Estimated Taxes. You can also download the Domain Tax Guide if you'd like (affiliate link).

I like posting these reminders because the schedule can be a bit confusing since it's not evenly spread out. A couple of years ago, I accidentally paid the second installment in July instead of June, so this is also a good reminder for me. In case you run a small business or are just starting a domain business, here are the Estimated Taxes Due Dates:

  • January 1 - March 31: Taxes Due April 15

  • April 1 - May 31: Taxes Due June 15

  • June 1 - August 31: Taxes Due September 15

  • September 1 - December 31: Taxes Due January 15 of the next year

→ Read More

Third Quarter Estimated Taxes Due Today


Domain Tax Guide

If you are like many American entrepreneurs who own and operate small businesses, you probably need to pay your estimated taxes on September 15 - which happens to be today. This is just a reminder that Q3 estimated tax payments are due today!

You should also keep in mind that as we enter the fourth quarter, you need to make sure you are doing everything possible to make filing your taxes easy and painless. I sent the Domain Tax Guide to my accountant a couple of years ago, and he has used it to help with my taxes. Now might be a good idea to buy the guide if you haven't done so already. → Read More