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Are you running a business or just doing money-making projects?

Discussion in 'Business & Legal Issues' started by tmgenterprises, Nov 6, 2012.

  1. tmgenterprises

    tmgenterprises New Member

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    There are an awful lot of people who make some money online and therefore say they have their own business. Unfortunately, the majority of those people do not have an actual business. Many will boast about how much money they made last month but ask them what their expenses were and they haven't a clue. Or they'll pop up on forums like this one and ask questions such as 'do I have to pay taxes on my online income?'

    If you have to ask whether you should pay taxes, you are NOT running a business. You're simply playing at it and getting lucky enough to make some money while you do it.
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  2. Old Admin

    Old Admin Administrator

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    There are some huge differences between what people consider as "having a business" or just earning some pocket money, Obviously from different parts of the world this pocket money can seem significant enough to warrant taking it more seriously but like you say there are only too many cases which neglect their responsibilities like TAX and expenses.

    When people have to start thinking about NET and GROSS earnings its a different matter.
  3. etc

    etc New Member

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    I'm just doing money-making projects :D I have set my websites of my own but I also am currently creating an ecommerce store where I would sell apparels and fashion shirt from forever21. I'm not sure if I need to pay taxes for it but cyber world isn't what our government have focused for now so I'm free of it. :D
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  4. thenextGeek

    thenextGeek New Member

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    By your definition of a business and a money making project, I guess I'm still in the process of creating a money making website of my own. Most of my previous blogs are getting no traffic because I relied too much in money making through Google Adsense.

    Now its different. I decided to create my own affiliate website. I hope that this money making project of mine will succeed.
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  5. bauss

    bauss New Member

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    I'd like to say I'm running a business, but right now they're just money making projects that I'm trying to turn into my business. Hopefully I can make that happen in my near future.
  6. Greg McWill

    Greg McWill Member

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    I agree with the statement that operating a business and money making vary from each other. For me, doing business includes a lot of factors and earning income is just part of the whole operation. Merely earning income is not a business per Se.
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