7 ms·
Trevor here, creator of the Spanish Bible app. IkmoIkmo got this spot on in his/her comment. Biggest two mistakes people are making in this thread: 1. $100k
by trevmckendrick 11y ago
Trevor here, creator of the Spanish Bible app.
IkmoIkmo got this spot on in his/her comment.
Biggest two mistakes people are making in this thread:
1. $100k was revenue, not profit.
2. I get capital gains rates on the sale, versus ordinary income rates.
(If you didn't know about #2 you should probably sign up for my accounting and tax course for freelancers and entrepreneurs: http://trevormckendrick.com/accounting-course-for-entrepreneurs-and-freelancers/ http://trevormckendrick.com/accounting-course-for-entreprene...)
- pc86 11y agoIs your web server down?
- trevmckendrick 11y agoProbably. I'm long overdue for changing hosts.
- Veratyr 11y agoSorry if this is incorrect but wouldn't a better term be long term capital gains rates? Short term capital gains are taxed at ordinary income rates but they're still capital gains.
- trevmckendrick 11y ago:) Yes you are correct. I try to avoid details when higher levels of abstraction are sufficient for my audience.
- elcapitan 11y agoDo you have more information on how that course is going to look like? Are those going to be video tutorials, or some degree of interactivity like on Coursera?
- markdown 11y agoHave you considered developing an accounting or bookkeeping app, since that's obviously your domain?