Tax questions to ask your CPA about data licensing
Licensing revenue is new for most companies. Get advice early.
Revenue from licensing records may be treated differently from your usual income. Talk to your accountant before you sign.
Questions to ask
How should this revenue be classified? Are there timing considerations for recognition? Does it affect estimated tax payments? Are there state or international considerations?
Keep documentation
Your contract, file list and payment records will help your accountant.
Not tax advice
This article is general information only. Your CPA should advise on your specific situation.
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