Taxes on ebay

[slat77]

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

[Leader2dark]

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

[walkingupwards]

Originally Posted by slat77

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

You are making 20-100k/month?

[slat77]

in about a year

[ebaystealth1974]

Originally Posted by walkingupwards

You are making 20-100k/month?

Where did you see month? lol

[Leader2dark]

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

[rsot]

Originally Posted by Leader2dark

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

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.

[walkingupwards]

Originally Posted by ebaystealth1974

Where did you see month? lol

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

[eman350]

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

[Sunspot144]

Originally Posted by eman350

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

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

[WEI]

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?

[slat77]

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

[eman350]

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.

[agent006140]

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.

[agent006140]

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