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Posted by Bruce Mc on Jan 19, 2009 in Choosing a preparer, News Flash, Opinions, Preparer, Tax Preparation, Taxes | 0 comments

Released – January 14, 2009 

Affiliate Marketers, Bloggers and eBay Sellers Worried about Understanding and Paying Taxes on Online Income

Ebiz Tax Tips Owner Kristine McKinley Seeks to Remedy Situation by Offering Tax Consulting, Planning and Preparation Services to Address the Unique Tax Needs of Online Business Owners

With the economy in recession and layoffs increasing, millions of Americans are turning to the Internet to earn extra income, some even replacing their full-time jobs with businesses created solely online.  The web has seen a huge increase in bloggers, eBay sellers, affiliate marketers, service providers and other online businesses in the last year.

Online business owners are seeking help in understanding the tax rules regarding online income, including questions such as:

Ø  How do I report my online or 1099 income?

Ø  What expenses can I deduct?

Ø  What is the best business structure for my company?

Ø  Do I need to make estimated tax payments?

Ø  How can I minimize the taxes I pay on my online income?  

Many bloggers, eBay sellers and affiliate marketers would like to use a tax professional for help answering these questions.  Yet, not many tax professionals understand online businesses.  As a result, most online business owners turn to the Internet for tax advice.  But that can be dangerous, and most online business owners want advice from a tax professional who understands online businesses rather than from a forum.

According to Kristine McKinley, founder of Ebiz Tax Tips, online business owners want tax advice, but can’t find tax professionals who are familiar with PayPal, shopping carts, eBay reports and other items that are unique to online businesses. The result is that many online business owners are not getting the advice they seek, and many are overpaying their taxes simply because they don’t know what expenses they can deduct and other strategies they can use to minimize their taxes.

      In an effort to help online business owners better understand the unique tax needs of their businesses Ebiz Tax Tips offers tax advice for U.S. taxpayers who have income earned from online businesses such as eBay, blogging, affiliate marketing, etc. Options for Kristine McKinley’s clients include tax preparation, tax planning, and tax consultations.    

       Kristine McKinley, a CPA, Certified Financial Planner and founder of Ebiz Tax Tips, has been providing tax preparation and advice to individuals and small business owners for 15 years.  For articles, reports, ebooks, teleclasses and other resources please visit www.internetbiztaxtips.com. 

 

Be sure to catch this Pod cast featuring Kristine. eBay Tax Expert - Kristine McKinley.

 

Contact:           Kristine McKinley, CFP, CPA

816-739-4853

kristine@internetbiztaxtips.com

 

 

 

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Next post scheduled for 02/01/2009