SONICdomains
02-21-2002, 03:34 PM
When a hosting company does their taxes do they disclose to the IRS who their customers are?
 | View Full Version : Tax help sammasati 02-21-2002, 03:53 PM No that would be too crazy! Report revenue and expenses. Can you imagine your local grocery store reporting all their customers? IRS may be Big Brother, but they are not that nosey. SONICdomains 02-21-2002, 04:04 PM Maybe the IRS distinguishes between the local grocery store and a web host, since a web host has a recurring revenue that can be tracked easily....... sammasati 02-21-2002, 04:27 PM no such thing. What about.... your local gym magazine subscriptions newspaper subscriptions your lawn service cable company isp phone company book clubs cd clubs video stores alarm companies insurance companies ... The list goes on. You must report the source of income if the specifically report it using W-4, 1099, or other form. If your customer spend more then $600 and they 1099 you then you would have to report it, but they also have to inform you that they are doing it, and most won't even bother. Most will just record as a cost of operations and leave it at that. There is no where on your return for your to lable Office Depot as the company you bought all your office supplies from, and consiquently there is no where on their return to report that you bought supplies from them. If there is no room on the return it is not reportable. Call the IRS for clarification, or go to http://www.irs.gov and download the Publications directly. SONICdomains 02-21-2002, 05:23 PM Call the IRS... hahahahahaha... you're a funny guy. I think I'd rather not. Anyways, thanks for the answer! noRom.com 02-23-2002, 04:28 AM lol...You only need report expenses, gross revenue, and anything you want to claim as deductable <--most ppl dont know, a lot falls into this category. I go so much back from my claims, and what i was allowed to claim was crazy, but hey, i'm not complaining. Hope this guys helped you! xnet 02-23-2002, 04:32 AM For example, when you take a trip - buy the ticket as the company for passenger: you. Or if you're a sole propriator (SP?) - you can do it in your name I believe Simply type up an expense report, and say you were researching potential data centers ... boom .. biz trip - tax deductable :) |