01-07-2009 08:44 PM
03-01-2015 06:45 AM
03-01-2015 01:20 PM
No, because you're never going to make a profit trading games at Gamestop. You're always going to have a loss.
Gamestop is the one that's making profit, not you.
03-01-2015 06:56 PM
Although now that I think of it, some of these credit card deals with points & cash back credit & dining gift cards?
I bet those things will get taxed in the next few years.
Depends on how influential the Amazon Prime lobbyists are.
03-11-2015 11:14 AM
I received a form from PayPal stating I was paid $38,000.00 in 2014 Then I received an income tax bill for $14,000.00 for unreported income and fines. I never received this in 2013,2012,2011 and etc. I also spent about the same for supplies and stock, postage and etc. My net income came to $2.500.00 I do ebay for fun and it's my social outlet after a hard day at my full time job. I replied to the letter by sending them the 5 pounds of receipts and a copy of every transaction. I pray I do not owe the entire $14k they are seeking. Nice how our govermant is spending time investigating hard working Americans who only want to make a few bucks and a few friends on Ebay. Why don't they go after and spend money on the real problems in this country like terrorists, drugs, murderers, rapists, and etcccccc. Just venting. Thanks for listening - Sandras Vintage Time - my ebay store
03-12-2015 12:31 PM
@Anonymous wrote:... Why don't they go after and spend money on the real problems in this country like terrorists, drugs, murderers, rapists, and etcccccc. ....
Well, they ARE going after money! Your money! And mine! So they can spend it.
Glad to hear you kept receipts! With receipts you have proof so it will probably go OK. Best of luck!
03-23-2015 07:49 PM
I helped a friend sell things in 2012 and I was going to have my taxes amended as I made a mistake (not related to these sales). However, the tax preparer informed me of this paypal sales over 20000 and if we were to amend that the IRS may say I need to pay taxes on that amount even though I didn't get any of that money. I am going to talk with the person who I helped, but wondering if anyone else has been in this situation. tax preparer informed that things could go either way...the IRS takes it off my account and sends it to the person who I helped or I would be accountable for this amount and then need to pay taxes (they haven't audited me for this amount)
Please advise if you have been in this situation.
Sara
04-01-2015 07:28 PM
04-03-2015 12:42 PM
04-03-2015 12:46 PM
04-03-2015 12:50 PM
04-04-2015 10:07 AM
@lovelywatchforyou wrote:
Make sure you dont exceed more than 200 sales or $20,000 sales whichever comes first . And if you do business on ebay make sure you keep all reciepts such as postage, original reciepts. Or you you sell old stuff with no reciepts you loose so, its better to sell just few not exceed 200 sales or if sell cars for cost 20,000 dollars , Paypal will report to the IRS. If you have large family , ask them if you can use thier SSN numbers for few sales . Paypal is very quite about this and they do not let people know or even send customers a mail form 1099 .
Oh, so it's OK if you make over $20K not to pay taxes by spreading out the income over family member SSNs?
But all us minimum wage workers who make even less than that per year get to pay full freight, so we're the chumps funding the military, social security, healthcare for you?
What a mooching freeloader.
04-20-2015 04:58 PM
@janies_bizz wrote:
I just started selling on Ebay and Im a little worried about reporting my extra little income. Its not that much but is there like a certain amount that I have to make for them to report or how does this work? Any help would be appreciated. Tax time is near.
Yes, you are required to file all income. Also, several states require you to pay taxes from buying out of state on purchases you bought on the web is recorded. Remember, everything you do on the computer is recorded.
04-24-2015 11:50 PM
Do I need to apply Tax Registration certificate if I file my income on schedule C? I read online they will let you pay large amount of penalty if you failure to register . But I don't think all the ebayer realize this .
@kansas_gal06 wrote:
@Anonymous wrote:... Why don't they go after and spend money on the real problems in this country like terrorists, drugs, murderers, rapists, and etcccccc. ....
Well, they ARE going after money! Your money! And mine! So they can spend it.
Glad to hear you kept receipts! With receipts you have proof so it will probably go OK. Best of luck!
04-25-2015 12:06 AM
May I ask do you apply for tax registration certificate? do they require to have it if your activities as business?
05-30-2015 11:50 AM
Minimum wage(artificial wage), peace time military(policing the world), social security(ponzie scheme), healthcare(redistribution) are usually the reasons people don't pay taxes.
If excise taxes aren't enough, it's because the budget isn't efficent; more taxes are just more money thrown away.