Forum

Taxes on ebay
 

Hey I sell mostly branded goods on eBay, I plan on paying taxes of course, do you think it will be a problem since I'm selling branded goods?? I'm making a lot of money 20-100k from branded goods

Re: Taxes on ebay
 

No, the IRS does not care what you sell, as long as you pay your taxes.

Re: Taxes on ebay
 

You are making 20-100k/month?

Re: Taxes on ebay
 

in about a year

Re: Taxes on ebay
 

Where did you see month? lol

Re: Taxes on ebay
 

20-100K is a huge spread. And the IRS does not care, even if illegal, they just want to be paid.

Re: Taxes on ebay
 

About the "illegal" comment, maybe IRS won't care but other services could be monitoring so just be careful OP...if you're in this market of course.

Re: Taxes on ebay
 

I read "I am making a lot of money", so I automatically assumed /month :noidea:

Re: Taxes on ebay
 

I been selling on ebay for over 10 years. I never paid any taxes. Nothing ever happened.

Re: Taxes on ebay
 

Hope you're selling under 20k/200 per PP acc :P

Re: Taxes on ebay
 

I never paid any taxes for selling online. I've talked before to my eBay manager that I don't need to file it.
But in your case, then won't be giving any care as long as you're paying taxes. Have you had any experience being tax-mapped?

Re: Taxes on ebay
 

no what is tax mapped? and No I'm just using one PayPal account

Re: Taxes on ebay
 

Yes I sell under 20k on each account, across 15-20 accounts. Never paid taxes in 10 years. Never had one promblem, or had any tax forms sent to me.

Re: Taxes on ebay
 

Paypal will send you a 1099 if you have 200 transactions AND $20,000 .
IRS will also get a copy.
You can download a copy of 2018 small business schedule from IRS website and plugsome numbers in to see how it looks.
Paypal also gives you an annual summary showing how much you have collected,how much is refunded,paypal fee etc.

Re: Taxes on ebay
 

many sellers find out after completing that form,they lost money!