posted on March 28, 2005 09:06:53 AM new
I think this is a slow news story - My guess is that most of us posting here realize that we are supposed to be paying taxes on our ebay income, if you are posting here you probably are more than a casual seller. I think this is the same as having a garage sale occasionally - Technically you are supposed to pay taxes, but in reality, who declares a couple of hundred dollars cash from a casual garage sale?
posted on March 28, 2005 09:44:44 AM new
some city sends out workers to look at garage sales and if they find someone who holds garage sales every week and the stuff they sell look like they come from wholesalers,it is deemed as a business and your garage is your store.
so they expect you to apply for a license and collect and remit sales tax.
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Eat grass,kick ass,never go belly up!
posted on March 28, 2005 09:47:03 AM new
As they should, but I made a distinction between a casual and a professional garage seller. While I am pretty sure most are not paying income taxes, they probably should. It is the casual seller, the one who holds a garage sale every other year that I am talking about.
posted on March 28, 2005 12:37:40 PM new
if the casual seller reports his income from ebay sales and garage sales etc,how does he account for the expenese incurred ?
It would just come up to lots of work and little profit,not worth the time to report it.
-sig file -------
Eat grass,kick ass,never go belly up!
posted on March 29, 2005 06:40:59 AM new
The issue is not complicated for anyone posting here. You are supposed to report your ebay earnings on your tax return. Period. The debate is basically whether you will get caught if you don't. Just another way the tax system is completely screwed up. It's absurd that 99% of the population has to have help (Turbotax, HR Block, etc.) to complete a tax return.
I've got 2 graduate degrees and it's still a struggle. Even many IRS people don't understand the system. It's kind of like postal employees, where they make up an answer if they don't know.
posted on March 29, 2005 08:16:12 AM new
you mean the IRS ROADMAP which comes with the form is not enough????
I am shocked!!
see,if honest ebay seller reports ebay income,then he would have to figure what is income.
Income should be income after expenses,and IRS frowns on home office expense.
Home office expense deduction could get you an audit.
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Eat grass,kick ass,never go belly up!
[ edited by stopwhining on Mar 29, 2005 08:36 AM ]
posted on March 30, 2005 07:10:08 AM new
You know how to kill off lawyers don't you. Put 6 lawyers in a room, each has a 45 cal pistol with 6 rounds. In addition, you give them one paragraph of the tax code.
You put them in a locked room, and tell them that when they come to an agreement what the code means, then they can come out. Tell them they can use violence to eliminate those in opposition to their views.
Then put the one surviving lawyer in a room with 5 more survivors................
The tax codes are meaningless. The are whatever the person says they are, because no one can figure them out. If I was on a jury in a tax fraud case, I don't care if they claimed their 54 cats as dependents, they are going free. When they write a tax code I can figure out in 15 minutes, then I will consider holding people accountable. But not till then! National sales tax!!!
posted on March 30, 2005 08:14:32 AM new
do the 54 cats have social security numbers?/
are they legally blind??
-sig file -------
Eat grass,kick ass,never go belly up!
[ edited by stopwhining on Mar 30, 2005 09:55 AM ]
