I think you should be exempt from taxes on ebay - they already take enough of your money with those bullshit closing fees and paypal fees
just claim those as more operating expense, like postage and gas. no different that if you have to pay for a table at a show to sell your stuff.
as for the amount - in regards to the recent news of the new rules (we were discussing this in a thraed about 3 months ago?) i definitely recall the figure of $5000 or more in ebay income per year (as in, make that much and youd better be filing once the law passes..)
No one's EVER gonna force you. They'll just audit you and, if need be, arrest you. Good luck with that.
Thanks but I doubt I'll need any luck. I make a decent living at my day job and pay plenty o taxes. My families taxes each year are pretty straight forward, the chances of our returns getting flagged are probably close to nil. I know dudes who have fished in Alaska for 20 years and have never paid dime on that money. Lot's of them just set up a little slush fund to pay off their "settle and compromise" deals when the IRS finally tracks them down. They usually end up paying like 10 cents on the dollar of their estimated debt, which can easily be 6 figures. Those are the guys who need to be worried, not some small time ebay seller. I'm not scared.
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just claim those as more operating expense, like postage and gas.
no different that if you have to pay for a table at a show to sell your stuff.
as for the amount - in regards to the recent news of the new rules (we were discussing this in a thraed about 3 months ago?) i definitely recall the figure of $5000 or more in ebay income per year (as in, make that much and youd better be filing once the law passes..)
dude it was a joke and a reference to charlton heston's line in that mike moore movie
get over yourself already
Thanks but I doubt I'll need any luck.
I make a decent living at my day job and pay plenty o taxes.
My families taxes each year are pretty straight forward, the chances of
our returns getting flagged are probably close to nil.
I know dudes who have fished in Alaska for 20 years and have never paid dime on that
money.
Lot's of them just set up a little slush fund to pay off their "settle and compromise"
deals when the IRS finally tracks them down. They usually end up paying like 10 cents
on the dollar of their estimated debt, which can easily be 6 figures.
Those are the guys who need to be worried, not some small time ebay seller.
I'm not scared.