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Ask Shawn Collins: Classify an Affiliate Business

February 24, 2005 by Shawn Collins

Q: I have a couple of websites where I place banner ads and generate affiliate revenue. I have incorporated (mainly cause I hated giving out my SS#). Now I have to apply for a Tax ID number. How would you classify an affiliate business? Anything related to Internet sales implies selling hard goods. Any advice?

Shawn CollinsA: That’s a great question. Since I have absolutely no background in this sort of thing, whenever I have a similar question, I quickly pass it on to my accountant.

If you don’t already have one, I would definitely suggest hiring an accountant for any issues regarding properly filling out forms related to taxes.

Also, if you currently file your own personal taxes, you will see that it’s a bit trickier to file business taxes.

It’s not worth your time to try and navigate the Federal Government, when you can outsource that stuff, and then concentrate on making money.

Work smarter, not harder.

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