Taxes

[rdoubleus@aol.com]

Has anybody figured out how to beat the new 1099 tax bite? Is there a way to get paid for items sold on eBay that doesn't generate a 1099?

[alcoforever]

Easy.   Don't sell more that $600 worth of stuff.

[duffy4444]

   Short answer - NO. Anything over $599.99 in a year will generate a 1099. The only way to "beat the new 1099 tax bite", as you put it, is to discontinue selling online here and on the other online sites. Also, prepare yourself for the possibility of having any back years of unreported online sales income coming up to bite you.

   The best thing to do is ACCEPT > ADJUST > ADAPT. 

   Get into compliance with the new tax laws pronto... Filing Schedule C income is not that difficult to perform every year after your ducks are in a row and the procedure is set up. The successful sellers here have been following the law by reporting their online marketplace income, less expense deductions, for years. It has always been the law, and the playing field is now being leveled. Frankly, it's way overdue.

   Just in case, don't think that being a "hobby" is an excuse that will fly any longer, either. Talk to your tax advisor if necessary.

Cheers, Duffy

[dhbookds]

Probably not going to get much help from the people here who pay taxes...........

[maxine*j]

Not only will tax evasion get one into serious trouble, helping someone else evade tax is good for five years in prison.   

If you don't believe me, take a gander at the latest edition of the Tax Crimes Handbook published by the IRS.

=

[kensgiftshop]

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rdoubleus@aol.com 

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Ya, don't sell more then $599.99.

But you're still supposed to report your income, without a 1099-K.

[myboardid]

You have just admitted that you plan to (already have?) cheat on your taxes.  Not a smart idea.

[mr_lincoln]

Seriously rdoubleus@aol.com ?  You are asking here how to evade taxes?  Are you saying you don't know how to do some simple math and allow for a % of your sales to be put aside for tax purposes so you still make a profit?  If you can't sell for a profit online then don't do it ...

Mr. L

[house*of*paws]

Hi rdoubleus@aol.com 

Surely you’re not asking your fellow citizens how you can avoid revealing that you may owe taxes to our government.    Nah … I must be mistaken.

[katzrul15]

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rdoubleus@aol.com wrote:

Has anybody figured out how to beat the new 1099 tax bite? Is there a way to get paid for items sold on eBay that doesn't generate a 1099?

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No.  And no one would/should try.

With the implementation of Managed Payments, any account you open on e-Bay would have the same common info to generate a 1099-k (i.e. SSNs, etc)

It's early.....perhaps you did not realize how you postured your question?  It appears you are asking other Sellers to share potential methods to evade taxation?

QuickBooks is your friend.  All the best!

[bashort]

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rdoubleus@aol.com wrote:

Has anybody figured out how to beat the new 1099 tax bite? Is there a way to get paid for items sold on eBay that doesn't generate a 1099?

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Yes,

Have lots of deductions

[maxine*j]

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@mr_lincoln wrote:

Seriously rdoubleus@aol.com ?  You are asking here how to evade taxes? ...

Mr. L

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And soliciting others to help him evade taxes which will carry for them, should they do so, serious penalties under the law.

=

[bashort]

What I find quite humorous and enlightening is that this going after people who do the equivalent of online garage sales came from politicians who talked non stop about taxing the "rich".

[wildpitchsports]

Stop selling online. I could get into other means but I wouldn't want to be taken out to the shed on this board.

[wildpitchsports]

Yeah - "not a single person making under $400,000 will pay a dime more in taxes"

Translation - shut down people in hobbies & getting rid of things they don't want !

The serfs don't have time for hobbies they need to work 3 jobs to keep paying more taxes