Fifteen years ago, I created a website that has generated advertising revenue over the years. Initially, the income went directly to me, but after setting up a company, the revenue started going to that company, which I solely owned. The company also covered the costs of hosting and domain registration for my site and other client projects. I've dedicated countless hours to developing the website without any formal ownership transfer to the company. Since the company is now being dissolved and I see no assets tied to it, I'm wondering — who actually owns my website? My gut says it's me personally, but I'd like a second opinion before I proceed with a potential sale.
5 Answers
Since you’re considering selling, definitely chat with a business attorney first. They can help sort out whether your personal and business assets are distinct, which is super important before you sign any contracts.
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It sounds like it could be a bit complicated, honestly. You should definitely consult a lawyer for a solid answer on this because there are a lot of variables in play. The ownership could depend on how the website is registered and the assets reported.
Who is the website registered under? Have you claimed it as an asset on your taxes? It seems like the company has paid for the site’s expenses, but if it’s not officially tied to the company, you might still own it. Since you’ve put so much work into it without billing, that might also bolster your claim to ownership. Just remember, the details matter here!
The domain is under both my name and the company's, but there isn’t any legal paperwork tying it to the company specifically. I’ve just used the company to cover the running costs and claimed expenses. After all the work I've done, it does feel like it’s mine.
That makes sense. It sounds like you’ve invested a lot into it, which could support your case. But getting a clear legal stance is crucial!
Honestly, the tax implications could depend on how you decide to proceed. If you own it, selling it might just involve personal tax. If the company sells it, you’ll have more paperwork and corporate taxes. I’d lean towards the simpler route too if that works out better for you!
Yeah, simpler sounds better! Plus, it seems like I’d only see a 5% difference in tax. Thanks for highlighting that!
Hey, if you can, try looking up some simple guidelines on asset ownership before you make any moves. It could save you a lot of hassle!