|
#1
|
|||
|
|||
Ebay Seller Tax Question
If you are a small seller do you still have to set up taxes? Do certain states have cut offs to do this? I stopped selling a while ago and always kept my selling below 200 lots and $10K a year not to have eBay send any info to the government.
|
#2
|
|||
|
|||
Claim Everything
|
#3
|
|||
|
|||
I have stopped selling as it way too difficult to file my taxes when I have no clue what I paid for a card in 1988 that I just sold. Too much work. I filed one year when I sold a ton of stuff. I had to resort to a fair value assessment of most items. That took me forever to put together (essentially I had to find three similar sales on record for each item for my accountant).
|
#4
|
||||
|
||||
I am a Canadian e-bayer and have a U.S. PO box in Washington.
I have to pay tax on my purchases. Do I just kiss that tax goodbye? |
#5
|
||||
|
||||
As a seller, you don't need to do anything to set up sales tax. Ebay will do everything instead, and charge all buyers for sales tax depending on your location. It doesn't matter how much you sell. Everything will be taxed (unless the buyer has a resale cert) by ebay.
|
#6
|
||||
|
||||
Quote:
Not all states have sales tax laws passed that require internet companies to collect and remit. Oregon has no state sales tax, one major reason the Vault was built there. They even promote it openly that it's a way to avoid sales taxes.
__________________
-- PWCC: The Fish Stinks From the Head PSA: Regularly Get Cheated BGS: Can't detect trimming on modern SGC: Closed auto authentication business JSA: Approved same T206 Autos before SGC Oh, what a difference a year makes. |
#7
|
||||
|
||||
It depends on what type of tax you are talking about.
Sales tax - do nothing. eBay does all of the work. Income tax - $10k is a significant number. You should be getting a tax form from PayPal for that amount. You’ll have to claim it on your income taxes but would have to speak to an accountant as to how it affects you in your state. |
#8
|
||||
|
||||
Quote:
In NY, ebay started collecting NY Sales Tax on June 1st, I ASSUME that I will still have to file for any and all NY State sales tax owed prior to that date for this tax year, right? Other states were phased in at different times, too. Or am I missing something??? |
#9
|
||||
|
||||
Quote:
|
#10
|
||||
|
||||
Quote:
It just seems to me that because eBay phased collecting NY Sales Tax in mid-Year, I collected sales tax for 5 months and they collected it for the rest. I will have to file AND pay those first 5 months or so and ebay the balance of 2019-2020 tax year. It's A BIT messy... |
#11
|
||||
|
||||
I'm still on the hook for the PayPal fee
Quote:
|
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
eBay seller question | Baseball Fan | Autograph Forum- Primarily Sports | 23 | 03-10-2018 08:16 AM |
Question about an ebay seller | vintagebaseballcardguy | Autograph Forum- Primarily Sports | 3 | 06-24-2017 04:43 PM |
Question on Ebay seller | the-illini | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 20 | 08-30-2012 08:18 AM |
Ebay Seller Question | jtschantz | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 18 | 08-08-2011 11:13 AM |
ebay seller question | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 2 | 09-11-2004 09:54 AM |