Accountants for Domainers
- Thread starter Scott7
- Start date
findtim
Top Contributor
although it shouldn't matter but where are you would be good, as interviewing your accountant before deciding on one i feel is important.
i'm in melbourne but mine is in ballina , hes brilliant and the only reason i got him was because of close friends, he no longer takes on more clients.
acountants seem to think you NEED them when actually you pay their salary so interview them just like you would an employee.
its an accountant that knows the unstated deductions that you don't need receipts for is the one you want..
the one that can make almost every dollar you spend a tax deduction, where ever i go i drop in on busineses and grab a card and ask to see the boss, mostly you get a no, but everything you do that day is a deduction.
a trip to see my parents in brisbane is a full deduction with overnight expenses of @ $145 a day without a single receipt., just by coming home to melbourne with a stack of business cards as i am trying to "source new work", "advertise my services" you get the drift.
just my thoughts.
tim
i'm in melbourne but mine is in ballina , hes brilliant and the only reason i got him was because of close friends, he no longer takes on more clients.
acountants seem to think you NEED them when actually you pay their salary so interview them just like you would an employee.
its an accountant that knows the unstated deductions that you don't need receipts for is the one you want..
the one that can make almost every dollar you spend a tax deduction, where ever i go i drop in on busineses and grab a card and ask to see the boss, mostly you get a no, but everything you do that day is a deduction.
a trip to see my parents in brisbane is a full deduction with overnight expenses of @ $145 a day without a single receipt., just by coming home to melbourne with a stack of business cards as i am trying to "source new work", "advertise my services" you get the drift.
just my thoughts.
tim
Scott7
Top Contributor
Thanks for your thoughts Tim.
I'm in Melbourne.
TrafficSauce
Regular Member
No direct experience but "Mert" from Nobel Thomas (nobel.com.au) is/was a DNT member many years ago offering accounting/tax services for domainers.
helloworld
Top Contributor
What classification should domains be put into?
Shane
Top Contributor
Any accountant should be able to handle it in theory.
I have domains held by two different companies and they are treated a little differently in each one.
Company 1 holds the bulk of my domains and websites, and for this one all of the domains are classed as trading stock.
Company 2 is my insurance business, and for this one the domains are simply treated as a general expense.
I found it a little strange having domain names accounted for as stock, but that's what the accountant thinks is best based on the way that company operates.
I have domains held by two different companies and they are treated a little differently in each one.
Company 1 holds the bulk of my domains and websites, and for this one all of the domains are classed as trading stock.
Company 2 is my insurance business, and for this one the domains are simply treated as a general expense.
I found it a little strange having domain names accounted for as stock, but that's what the accountant thinks is best based on the way that company operates.
On a related note, came across this on Namepros
Is a domain portfolio an asset?
Is a domain portfolio an asset?
