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Online business INFO required

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  • 13-10-2012 10:24pm
    #1
    Alexidium
    Closed Accounts Posts: 67 ✭✭


    Hello,

    Firstly, I would like to say sorry if i am posting this in the wrong section, I cannot find another suitable one. If needed, move the thread I don't mind.

    Anyway, to get to the point. For example, if i was to set up an online money making business with the sole aim to make money how would I got about it in terms of legal papers and all that stuff (tax etc.).

    There are two ways in which I plan to make money online. Through advertising with Google AdSense and payment from interested people. Now, I will not tell you what my plan is but it involves me creating my own website through coding and scripting. In no way is it going to be illegal.

    So to round everything off, what I am looking for is information about what I need to do if I was to set up an online business with the purpose of making money. So, taxation, legal papers attaching my name to the business.

    My aim is to expand the business in the future and hopefully make a career out of it. I am a student by the way if that has anything to do with papers and stuff.

    Please no rude comments, all I am trying to do is create an indigenous business which Ireland might benefit from in the future. I am 20 and this does sound crazy but its the crazy people who think they can change something, that actually do.

    Thanks


Comments

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    #2
    Swampy
    Registered Users Posts: 2,104 ✭✭✭Swampy


    Register with the Revenue as a sole trader (tr1 form) and buy your domain then off you go. Check out the revenue website for vat thresholds, more than likely you won't need to register for vat unless you sales (services) is over 35k.


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    #3
    The Apprentice
    Registered Users Posts: 1,130 ✭✭✭The Apprentice


    Well im not going to give you any advice like stampys fair play for helping..

    Your trying to sprint before you can crawl mate.. Stop with the legal implications and tax stuff.. just go make a euro before u even think about tax implications etc !! literally..


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    #4
    Alexidium
    Closed Accounts Posts: 67 ✭✭Alexidium


    Swampy wrote: »
    Register with the Revenue as a sole trader (tr1 form) and buy your domain then off you go. Check out the revenue website for vat thresholds, more than likely you won't need to register for vat unless you sales (services) is over 35k.

    Thanks for the help!


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    #5
    Alexidium
    Closed Accounts Posts: 67 ✭✭Alexidium


    The Apprentice wrote: »
    Well im not going to give you any advice like stampys fair play for helping..

    Your trying to sprint before you can crawl mate.. Stop with the legal implications and tax stuff.. just go make a euro before u even think about tax implications etc !! literally..

    Good idea, I was just wondering so I don't enter in to the unknown, but you're probably right mate. Thanks


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    #6
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    As Stampy said, go as a sole trader. I think you need a lot more testing / experience but everyone starts at the beginning. Adsense is not a genuine full time "business" revenue stream in Ireland as out population is too small to call anything other than a side project. 5 Million population just doesnt stretch to a niche service with good Irish ad revenue opportunity, so try thinking bigger if this is your model, reach for the stars, go global.

    Saying that making a few quid on the side is nothing to frown about.


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    #7
    Alexidium
    Closed Accounts Posts: 67 ✭✭Alexidium


    TheCostumeShop.ie: Ronan wrote: »
    As Stampy said, go as a sole trader. I think you need a lot more testing / experience but everyone starts at the beginning. Adsense is not a genuine full time "business" revenue stream in Ireland as out population is too small to call anything other than a side project. 5 Million population just doesnt stretch to a niche service with good Irish ad revenue opportunity, so try thinking bigger if this is your model, reach for the stars, go global.

    Saying that making a few quid on the side is nothing to frown about.

    Cool. Oh and I mean the idea is not only for the Irish population, but global. ...And yeah I am going to need some side cash definitely. Thanks for the advice, always appreciated.


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