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View Poll Results: What is your pre-tax net profit for calendar year 2001? | |||
DUDE! I'm in the red for 5 figures. |
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3 | 1.97% |
I'm loosing thousands and it hurts! |
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6 | 3.95% |
I'm loosing hundreds and I can't sleep! |
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11 | 7.24% |
I break even. |
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12 | 7.89% |
My profit is 2 digits. |
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9 | 5.92% |
My profit is 3 digits. |
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13 | 8.55% |
My profit is 4 digits. |
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37 | 24.34% |
My profit is 5 digits. |
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49 | 32.24% |
I'm making 6 digits. I need a dump truck when I make a deposit. |
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12 | 7.89% |
Voters: 152. You may not vote on this poll |
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#1 |
Join Date: Aug 1998
Location: Las Vegas, Nevada, USA
Posts: 5,224
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Let’s see how this works out. I’m hoping it can lead to some quality discussions. Your “vote” is 100% anonymous. I am reluctant to mention this but please be honest when you select your answer and only vote once.
![]() ![]() Translations: 2 digits: $10.00 3 digits: $100.00 4 digits: $1000.00 5 digits: $10000.00 6 digits: $100000.00 Definitions (edit of 7/25/01): "What is your pre-tax net profit for calendar year 2001?" 1) Calendar year 2001 begins on 1/1/01 and runs through the current day. It's not the last 365 days or the last year. It's sometimes refered to as "year to date" 2) "pre-tax net profit" for the purposes of this poll and a ballpark definition for self employed folks is : I cashed checks for $12,000.00 for CPA, CPM, and CPC campaigns for period 1/1/01 through today. Thats your gross and NOT your net. It's never your NET as all business have exspenses. 3) I spent a total of $7,000.00 for the period 1/1/01 through the current day for EXSPENSES like hosting, advertising, custom coding work, rent, graphic artists fees. 4) My "...pre-tax net profit for calendar year 2001" is NOT $12,000.00. My pre-tax net is: 12k minus 7k = 5K 5) Salaried GEEKS of which we have plenty get a "pay stub" which showes gross earnings and net. Please post in this thread if anything in the Poll is not clear or you don’t understand it. Good luck ![]() Last edited by Steve_S; 07-25-2001 at 10:47 AM. |
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#2 |
Registered User
Join Date: Nov 2000
Posts: 231
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We probably won't see many votes below "I break even". Not because majority of webmasters are actually making money, but because most of us don't have the money to be able to survive for long with significant negative cash flow.
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#3 |
Registered User
Join Date: Nov 2000
Location: NC, USA
Posts: 290
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Oh please gimme a break.
15% of you make 6 digits? We are not counting to the hundreths place guys ![]() ![]() If you honestly make over $100k/year yikes, whats your site! |
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#4 |
Member.
Join Date: Apr 2001
Location: New York
Posts: 209
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I voted 5 digits, but this does not include advertising expenses - I reinvest pretty much all my profits minus personal expenses, into getting new subscribers/visitors.
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#5 |
Member.
Join Date: May 2001
Posts: 322
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I voted 5 digits, but I'm on a salary.
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#6 |
Registered User
Join Date: Nov 2000
Posts: 1,291
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Hmm, is this poll meant for people who run websites for a living as opposed to people who are on salaries?
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#7 |
![]() Join Date: May 2001
Location: Beautiful Darwin
Posts: 4,753
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Just as a matter of interest to 'overseas' affiliates, if you are earning big money, do you have to declare it?
At present the Australian Tax Office doesn't know about my earnings from the net. I don't even know if we have to tell them. Czar maybe you know??? |
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#8 |
Registered User
Join Date: Apr 2001
Location: Melbourne, Australia.
Posts: 305
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I think you do Jan, and when you cash your cheques into your Australian Bank account the ATO can monitor your funds. I imagine you will have to pay tax on this eventually.
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#9 |
Registered User
Join Date: Nov 2000
Posts: 1,291
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Maybe you can hide it in a Swiss bank account or something, if the Australian government doesn't require you to declare offshore investments (I think the US government does).
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#10 |
![]() Join Date: May 2001
Location: Beautiful Darwin
Posts: 4,753
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Uhoh! better get me a real job so I can pay the taxes
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#11 |
Registered User
Join Date: Aug 1999
Posts: 40
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Don't worry Jan, they are pretty much clueless when it comes to earnings from the internet in most countries overseas.
I live in Belgium and tried to declare taxes. It took me 4 letters before they understood why I was paying taxes for. They even told me that if I wouldn't have mentionned it, they would never have found out about it. The fact is, in most countries, the fisc can't just monitor your bank account. They need a good reason for it (fe: fraud, money laundring,..). The only way they could find out about your earnings is through the IRS, but there doesn't seem to be much communication between the IRs and foreign tax offices.. |
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#12 | |
![]() Join Date: Aug 1999
Location: Gold Coast, Queensland, Australia
Posts: 9,506
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Personally, the only benefit that I get from dealing mainly with US-based firms is that filing my company's BAS each quarter is a piece of pie, since no GST is payable or receivable on such transactions. I certainly receive no out-of-the-ordinary tax breaks, though. Pity. ![]() In order to learn more about how your online earnings affect your tax reporting, have a conversation with your accountant. It's always better to be safe than sorry.
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#13 |
![]() Join Date: May 2001
Location: Beautiful Darwin
Posts: 4,753
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Ouch!
Well my earnings weren't that big that I could afford an accountant, but I did have a good time last year. Guess I better get a tax agent for last years return :-( Thanks guys ![]() |
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#14 |
![]() Join Date: Aug 1999
Location: Gold Coast, Queensland, Australia
Posts: 9,506
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Well, without delving into anyone's personal finances in too much detail, those adult Australians whose annual taxable income is less than $6000 (this includes all earnings, not just your net stuff) do not have to file a tax return. This figure is $643 for teens.
If you are earning more than this, you may still be able to manage your own taxes without too much trouble, but a tax agent/accountant can save you a great deal of effort, and fill in the blanks, so it is a good idea to meet with one. Just make sure you keep good books...or have an shoebox handy! ![]() This is one of the more painful aspects of working for yourself - but it's well worth the trouble in the long-term.
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Czar Follow Geek/Talk's Twitter Feed and Facebook Page to stay up to date with new discussion threads and online ad industry highlights. Important GeekVillage Links: Home | Rules | Posting Guide | Report Trouble | Feedback | Advertise on GV |
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#15 |
Registered User
Join Date: Dec 2000
Posts: 1,579
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If Quickbooks or a similar accounting page is available, invest in it. It can save an incredible number of headaches and it simplifies record keeping.
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