Buyer wants an invoice and you have no registered business - what do you do ?

[asfas]

Any suggestions ?

 

[ImageAuthors]

Paypal allows you to create invoices.

 

[Theo]

Was that a Sedo sale?

 

[asfas]

Theo , eCop.com transaction, similar to Escrow.com

 

[Theo]

Hmm. If it were Sedo, I would not bother sending an invoice.

Simply prepare a statement/bill of sale. They can't expect a business invoice, if you are a private seller.

 

[amplify]

Open up Word with an invoice template, pop in your personal details, domain, qty, price, subtotal, total and send it off.

 

[angel69]

I'm not that familiar w/eCop but at least Escrow.com has never asked me for that. They supply both parties with a mini-closing statement (it's just an addition/substraction of where the money went, not like a r/e closing statement for sure lol)

As to marketplaces, no one ever has either except for Sedo, a handful of times only. And they always say the buyer wants it, it isn't needed to begin with because both when you buy or sell Sedo creates a pdf statement for the trans, except that when you're the seller it does not display the buyer's info, you need to find out through the WHOIS if you're curious. I've always thought Sedo should not display the name for the other party whether you're buying or selling, but since they've decided to do it for the buyer (to see whom he bought from), they should do it for the seller too. But doing one and not the other is not right. Some sellers want to remain anonymous so many people have a problem with Sedo's invoices showing all that info. They should ONLY let the other party have it (whichever side you're on) IF there's a dispute..... like non-pymt from a buyer or the seller refuses to deliver the domain

Like the guys said, most sellers (even on Sedo) are individuals ....so a WORD template for invoices is enough, even good old Notepad on Windows works lol. They can't demand elaborate stationary or professional invoicing. They always accepted mine, one thing though..... their original request for an invoice for the buyer specifically says you should create a pdf invoice and many guys own Adobe Reader but not the more expensive Acrobat where you can create docs, so they should not ask for that. At the end they just want some sort of statement with your info and the details, even on a blank background. The seller probably is a big guy and needs it for tax declaration purposes if there were to be an audit or something

 

[amplify]

@angel69 - if that were an issue, there are soooo many DOC to PDF's for free that don't brand the crap out of it. You could probably upload a DOC to SignNow just to export it in PDF without additional information added. Haven't tried uploading a DOC there, so don't know... but pretty sure it converts.

 

[Biggie]

tell them, "that you do not give invoices for a domain sale, and if they want to cancel the transaction because of that, you'll agree."


it will add to the psych, that you don't have to sell that name....particularly if they thought they got a good deal.



cuz sometimes invoices come back as w-9


imo...

 

[Jack Gordon]

cuz sometimes invoices come back as w-9

Precisely. If they need an invoice, you should assume they will be using the sale as a business writeoff. Conversely, it is a safe assumption that the government will be expecting you to declare it as income.

This may not be the big red flag that gets you audited, but it certainly can be. If you do not declare domain sales as income, be very careful about the paper trail you are leaving.

Having said all of that, I do not know how it works in Greece. But if you don't either, you should do the research before proceeding.

 

[chipmeade]

Write off? Taxable Income? What???

And invoice is simply a bill that states everything that a business gets for what price. Many, many, many business accounting departments require an invoice to trigger a payment. It allows them to track and apply the expense and provides a record of what is received. Invoices do not typically have tax information/ids on them. In terms of tax liability, you should pay your taxes anyway so now you have an invoice to record that sale. The benefit of an invoice is that you can dictate the terms of payment. "Due immediately upon receipt" "Buyer pays any bank fees" "Paypal Payment required prior to transfer" etc... Go online (or build a simple one in excel yourself) and send it off.

 

[Jack Gordon]

If I spend business dollars on something and all I have to show for it is an invoice, that is enough. It goes into the system and becomes part of the tax file.

I am not advocating tax fraud. I am simply saying that if one creates a paper trail, that trail goes in both directions.