Quote:
Originally Posted by Fred
Not that it matters -
Does this portal report any information to the IRS? For example, if I sold cards on the portal and the total sales for the year was $45K, would the Myslabs portal report that information to the IRS? Also, an assumption is that all fees charged by the portal would be something that could be reported as an expense to the IRS. Is that correct?
Do sales from this portal require that taxes be added to the final sale price of the card?
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You get paid through PayPal or Stripe, so those companies will issue a 1099, as required.
I think MySlabs is getting ready to go through a tough time as they are revamping their platform, requiring you to keep shipping and "shipping from" addresses on file. To me, that means they will soon be collecting sales tax on the transactions. They have said in the past they would have to eventually and this makes me think it is imminent.