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Pallmor Bergman
Registered User
Join date: 1 Mar 2005
Posts: 50
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07-25-2006 09:13
From: Marla Truss You do have to show a profit in the first three years of a business, or the IRS says it's a hobby, not a business. So Linden Labs can't file as a business?  -Pall |
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Kerrigan Talamasca
Registered User
Join date: 14 Jul 2006
Posts: 4
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07-25-2006 10:09
You do not need to be a "licensed business" to claim business expenses.
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Marla Truss
Registered User
Join date: 15 Mar 2006
Posts: 197
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07-25-2006 10:27
From: Pallmor Bergman So Linden Labs can't file as a business? -Pall LOL, nah, that applies only to a sole proprietorship. Corporations are allowed to lose as much money as they want. |
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Jesseaitui Petion
king of polynesia :P
Join date: 2 Jan 2006
Posts: 2,175
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07-25-2006 16:17
From: Shep Korvin Paypal can transfer your credit to your bank account (they certainly do in the UK anyway - that's how I cash out). Also, depending on the money laundering laws of the country you live in, paypal are obliged to report your income to the tax office once you've hit a certain threshold. If you haven't declared your SL income as a taxable asset, or haven't complied with any appropriate local business legislation by the time they do this, you could be in serious trouble. I must not have been clear. I meant that I dont believe LL can transfer money into your back account, nor can they transfer it into your paypal account- but i wasnt too sure about the paypal part. Im well aware paypal acts in concordance with ones bank account, though. |
