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  #45  
Old 03-23-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by PepsiCoin View Post
agent and you are friends...
HAHAHA Yea right. She is so full of crap most of the time. Nobody even knows why she is here. Just nothing better to do it seems.
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  #46  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by phaz0rz View Post
If you're cool with reporting everything anyway then just get more EIN's bro..

This forum inspired me to get 3 of them but then I learned the importance of having some accounts without them. So much for that. I guess our politicians are above running money through Paypal. They're more advanced. They're use non-profits and "foundations" to avoid reporting their real income. We need to get on their level.
I have confidence i will figure out a solution. I just don't know the framework to go from a single-member llc s corp, to multiple llc's and what's involved in required reporting etc... ill have to read up on it, right now i am doing more business elsewhere than ebay. (not account sales, that's for sure)


Wyoming looks like a good state to open a LLC. No taxes and their privacy laws are great.

Last edited by HurricaneHuntr; 03-24-2021 at 03:10 AM.
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  #47  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

What about federal tax?
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  #48  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

Federal tax is everywhere and unavoidable. Even expats who no longer live in the US have to pay federal income tax.. for whatever reason. Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming have no state income tax. So if you form your business in one of those states you have one less tax bill.

Since having kids I never have to pay anything to the state anyway but I can certainly see the benefits.
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  #49  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by phaz0rz View Post
Even expats who no longer live in the US have to pay federal income tax.. for whatever reason.
This shiit blows my mind! My ole lady moved to England for 10 years, decades ago, and was telling me that. I didn't believe her!

She also didn't file with the US, but she was surely supposed to.
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  #50  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

did anything happen because she did not file?
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  #51  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by mark2be View Post
did anything happen because she did not file?
Nope. And I'm not sure why, either. She did say she got nervous several times when flying back and forth between the UK and US, because the IRS had offices at/near customs when she went through in the airport.
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  #52  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

The IRS can use your passport as leverage for their extortion scheme if an expat living abroad fails to report to/pay them. I guess if you were to give up US citizenship then you could be off the hook.. but most don't want to do that so they do what's they're demanded to do.
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  #53  
Old 03-24-2021
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Default Re: Tax Laws in 2022 are changing

Who the phuck does the US government think they are? Paying taxes to two different countries.? Even the IDEA is absurd.
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  #54  
Old 05-01-2021
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Default Re: Tax Laws in 2022 are changing

so now if you sell your 1 year old iPhone for $700 you'll get a 1099?!
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  #55  
Old 05-02-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by mark2be View Post
did anything happen because she did not file?
if she does not file US income tax return,it would be on her record.
She should file ,any tax she paid to UK government is deductible,she may owe Uncle Sam nothing !
If she gives up her citizenship,she will also owe taxes ,check it out
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  #56  
Old 05-02-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by theintersect View Post
so now if you sell your 1 year old iPhone for $700 you'll get a 1099?!
IRS does not expect most people to make a profit selling personal items (new or used),it figures you must have paid higher price for the item .
Unless it is something like gold or priceless collectibles which have appreciated greatly in value.
Bitcoin is considered an asset to IRS
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  #57  
Old 05-02-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by theintersect View Post
so now if you sell your 1 year old iPhone for $700 you'll get a 1099?!
USA IS DEAD.

I will be getting out of this communist state as soon as I can, just like the smart jews out of Germany. RIP USA. you were always an ugly hoe that i just put a trash bag over your head and still banged but not anymore my friend. Adios USA you toxic waste of medicated zombies.
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  #58  
Old 05-03-2021
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Default Re: Tax Laws in 2022 are changing

I can't believe you're still here. You've been biitching about this place forever now.
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  #59  
Old 05-03-2021
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Default Re: Tax Laws in 2022 are changing

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Originally Posted by agent006140 View Post
IRS does not expect most people to make a profit selling personal items (new or used),it figures you must have paid higher price for the item .
Unless it is something like gold or priceless collectibles which have appreciated greatly in value.
Bitcoin is considered an asset to IRS
This is just more work for people who don't have enough time. It's bullsh1t to make mom and pops fill out extended tax returns so they don't get flagged for audits. No more free tax returns if you sold anything over 700$ and are just some guy flipping your iPhone.
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  #60  
Old 09-16-2021
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Default Re: Tax Laws in 2022 are changing

What's really funny is the .Gov has about 270 trillion dollars paid in so far to pay 'unfunded liabilities' that they pay with 'typed in money'. Welfare, Medicaid/Medicare, Social Security, unemployment payouts are all insolvent many years ago. So they raise taxes just to keep you weak, feeding on them to save your lives...with your vote of course.
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