200 transaction / $20,000 Tax limit

[jmag91]

Hey everyone,

Does this reset to 0 with the calendar year?

Or does it go by if you've sold that amount in 12 consecutive months?


Thanks in advance,
Jmag

[chicagoIL]

It's per calendar year so on Jan 1 your account starts over again at $0.
It's based on US tax year so Jan 1- Dec 31

[jmag91]

Originally Posted by chicagoIL

It's per calendar year so on Jan 1 your account starts over again at $0.
It's based on US tax year so Jan 1- Dec 31

Fantastic, thank you!

[rsot]

Just be wise about the operations jmag91

[jmag91]

Originally Posted by rsot

Just be wise about the operations jmag91

What do you mean, rsot?

[slokor]

Don't max out that amount in the first 2-3 months. That limit can be 'projected' based on your current sales meaning youll get hit by a request for SSN/EIN much sooner than youd expect.

[jmag91]

Unbelievable. I hit 150 transactions today, with 2 days left in the year, and got the email sent to me.

Un - freakin - believable. I'm livid.

[SaiJin]

my personal rule is to hit 60% max of the 200/20k

I don't even hit that though.

[jmag91]

Originally Posted by SaiJin

my personal rule is to hit 60% max of the 200/20k

I don't even hit that though.

So for the entire year you only do 120 transactions or 12k on each account?