Taxes

[josiesjewels]

If I don’t have a business, why am I charged taxes on items I sell on ebay? When you have a garage sale you don’t have to pay taxes on the items you sell. I’ve been selling on eBay for years and never had to pay taxes. 

[johnrj1226]

How   much did you pay in selling fees when sellers had to pay eBay & Pay Pal vs what you pay today. as  a single  charge  Reply  in a  a percentage basis and what items were these  percentages applied to - make a side by side list for easy comparison.  Would be nice to see what your findings are.

[maxine*j]

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@stephenmorgan wrote:

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...  If you are a Business and treat your profit as Self Employment income then there is also the Self Employment Tax of 15.3% and this is in addition to what ever your Income Tax would be.

I do not think that as a Hobby Seller, selling Inherited Property or Capital Gains you will be required to pay Self Employment Tax.  

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And that's a good thing.  As the sole proprietor of two different businesses, years ago, I have a much nicer Social Security benefit every month than I would have, had I somehow managed to cheat the FICA taxman.

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[pickermall]

LOL... yeah I wanted to give highlights...

"Leave clever pennies on your eyes"

"And you're working for no one but me... TAXMAN!"

[monroe67]

I am old and I remember when Beatles' recordings were first played on the radio, and when the group first appeared on the Ed Sullivan Show.   

I believe the lyric was:
Now my advice for those who die,    
         Tax Man
Declare the pennies on your eyes.
       Tax Man

Yes, I can remember every word to Beatles and Beach Boys and Rolling Stones songs from the 60s, but can't remember where I left my sunglasses . . . . .    This can happen to everybody with time!