{"id":1026,"date":"2013-05-10T00:00:00","date_gmt":"2023-05-12T21:28:49","guid":{"rendered":"https:\/\/mediaoptions.com\/blog\/domains-a-golden-egg-at-tax-time\/"},"modified":"2024-11-19T07:52:23","modified_gmt":"2024-11-19T07:52:23","slug":"blog-domains-a-golden-egg-at-tax-time","status":"publish","type":"post","link":"https:\/\/mediaoptions.com\/blog\/domains-a-golden-egg-at-tax-time\/","title":{"rendered":"Domains: A Golden Egg at Tax Time"},"content":{"rendered":"
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Well hopefully by now you\u2019ve filed your 2012 United States tax return; time to prepare for next year!\u00a0 Have you talked to your accountant about the different tax benefits that domain owners have? Since domains are relatively new in the realm of taxation, there isn\u2019t much precedent to gauge each and every situation that may occur. Yet at the moment, there are several ways to incorporate domain purchases and ongoing renewals into your U.S. tax return, depending on how you use them (we here at Media Options aren\u2019t accountants or lawyers, so make sure to speak to the appropriate party to determine what\u2019s right for your business).<\/p>\n

How You Use the Domain can Determine How It\u2019s Treated at Tax Time<\/h2>\n

The IRS can consider domain names as either capital costs, or as ongoing business expenses. If you purchase an existing domain\u2013as you would through a domain broker like Media Options\u2013and you proceed to invest in branding and development using the domain name, then the domain becomes part of your business benefit and could be amortized over time.\u00a0 If you register new domains for ancillary purposes, such as to forward to your main domain, you have the opportunity to write off the full purchase as a recurring business expense.\u00a0 Make sure to keep your purchase receipts so that your accountant will have solid evidence of your purchase price and development costs.<\/p>\n

Is Taxation Different for Domainers?<\/h2>\n

If you make a business of domaining, then your domains could be taxed in a different manner, since you buy and sell them more frequently than the average business; it may benefit you to treat them as any other goods bought and sold by a business.\u00a0 If you have a large portfolio, then the domains are also considered assets.\u00a0 Confusing?\u00a0 Not if you do your homework! Again, check with your accountant to see if this option applies to you.<\/p>\n

Where Else Can You Find an Asset that Can be Amortized and can Appreciate at the Same Time?<\/h2>\n

And remember another benefit of owning domains:\u00a0 if your venture takes a different direction and you decide to sell your domain assets, that you may actually make a profit when you resell the domain despite amortizing it on previous tax returns.\u00a0 \u00a0Remember to consider contacting a domain broker for possible existing domains that may suit your needs.\u00a0 We are always here to help!<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Well hopefully by now you\u2019ve filed your 2012 United States tax return; time to prepare for next year!\u00a0 Have you talked to your accountant about the different tax benefits that domain owners have? 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