Justin Cooke

Updated on August 2, 2016

Buying and selling websites often includes some big financial decisions.

How do you minimize your tax liability? What structures are best uses to protect and house your online assets? What should you look for from a financial perspective when purchasing an online business?

Counting All Your Ducks – The World of Accounting for Online Businesses

To get some answers, we reached out to our friend of the show Mario Lucibello, a CPA over at GreeenHaus, to dig into the some of the financial nitty-gritty when purchasing an online business. He was refreshingly frank and to-the-point – I think you’ll want to listen to this if you’re considering a purchase.

Check Out This Week’s Episode:

Direct Download – Right Click, Save As

Topics Discussed This Week:

  • Business Structure/Setup
  • Due Diligence With Buying Online Businesses
  • Taxes With Buying/Selling Websites
  • Offshore/Expat Issues
  • Investments/Financing

Mentions:

 Spread the Love:

“If you’re buying stocks, you’re buying everything that’s happened to that company in the past.” – Mario – Tweet This!

“When the buyers know what they’re buying they might pay more for it.” – Mario – Tweet This!

“Business and website buyers prefer clarity.” – Mario – Tweet This!

 

Big thanks to Mario for coming on the show and sharing with us.

Do you have any accounting questions for Mario related to buying/selling sites? He said he’d be happy to dig into any questions you might have in the comments, so feel free to ask away!


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Discussion
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  1. Dan says:

    Definitely put it all in bitcoin. :)

  2. Hey Chris

    While I am not an EU tax expert I think this concept will still hold true. Typically sales tax is charged on sales of product (inventory) or other defined services. The sale of a business assets typically are not inventory (except for the portion of the sale of the inventory assets on hand).

    But again – I know this would hold true in the USA, but I would think the concept would be similar in the EU.

    Hope that helps
    -Mario

  3. Chris says:

    Hi guys,
    I really enjoyed this episode, some very interesting information.
    I’m wondering how you have handled following situation. As a resident within the EU a business is obliged to charge sales tax for all sales within the EU. Sales outside the EU are generally exempt.
    Have you had any EU based sellers that have sold to EU based buyers, where I think technically this sales tax would apply?

    Thanks,

    Chris

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