Possible new tax law?

[todeen]

This thread has given me a new faith in humanity.

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[MooseDog]

It's really simple, run and treat your eBay sales as a business. The (legal) deductions available to one running a business will mitigate any tax issues you might have otherwise. Just a sample of expense deductions:

Postage (in and out)
eBay Fees
PayPal Fees
Taxes (some)
Accounting/bookkeeping/legal fees
Mileage (with some limitations)
Office Supplies (everything from envelopes to ink for the printer)
Subscriptions (services like Worthpoint and VCP)

That's just a start.

[samosa4u]

I want to tell you folks a story here about something that happened in Canada a few years ago. Now, I can't remember all the details, but it goes something like this: the CRA (Canada Revenue Agency) wanted Paypal to hand over all the information on their Canadian users. The reason for this was obvious: lots of Canadians were making big Paypal sales and not reporting it. I think Paypal at first refused to hand anything over, but then I believe the CRA went to the Federal Court and the judge gave Paypal two options: either cooperate with the CRA or get out of the country. Paypal had no choice here but to hand everything over. I'm pretty sure THOUSANDS of Canadians got into BIG trouble! Now, I don't think police officers kicked their doors down and arrested them or anything like that, however, they did have to pay their taxes AND interest AND massive fines!

[Mike D.]

This will be a significant expense for the eBays and Ubers of the world. I hope they remember to claim that on their taxes.

Less funny is that the added expense will be passed on to customers.