Right now the issues of how the taxes will be calculated are still up in the air, I do not think the IRS has nailed this down yet. As far as the state goes, you should look up the rules for "Mail Orders" as to when you are supposed to collect sales tax.
Now as far as the Tax on the "profit", well there are a hundred different ways around this. For example: Did you sell some household items? Anything the your previously bought for personal use? If so well if you sold it for less than you originally bought it for, then it is a loss. If you are going to report the income that you make off of ebay make sure that you report all the expenses that are attributed to that sale as well as your time, etc.
This is also a good reason why you should create a business in the state that you live in. My advise would be to incorporate your business and not do it as a sole prop. as you will get personally nailed for any mistakes, Hide behind the corporate shield. So if anything goes wrong tax wise it is limited to the corporation.
Now before someone comes around about items and depreciation of value, well that is another part of the ball game but for most here that is something AFTER they protect themselves from the thieves at the IRS. Key thing to keep in mind is expense everything against the business so that you have no profit to pay taxes on. You will just pay the tax on the payroll (which I think is illegal and the the IRS has no right to take but that is for another day).
For example: I currently book all my expenses for my dogs (Food/Vet) against the company.. Why you ask, Simple they are my "Security Dogs" that watch over the inventory and the office.
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