Comments on: Are eBay Sellers Required To Pay Income Tax On Sales? http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/ Personal Finance Beyond Credit Cards and Balance Transfers Sun, 08 Nov 2009 03:56:44 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: ian http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/comment-page-1/#comment-92261 ian Wed, 26 Aug 2009 12:59:26 +0000 http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/#comment-92261 Do you just collect tax on items you sell in your home state? Or every transaction no matter what? Do you just collect tax on items you sell in your home state? Or every transaction no matter what?

]]> By: Raymond http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/comment-page-1/#comment-68048 Raymond Sun, 03 May 2009 18:30:52 +0000 http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/#comment-68048 Ebay Former Power Seller guy, I totally feel your pain. I used to run a nice little eBay auction business as well, but the scammers, customer demands, incredible price driven competition, and rising eBay listing fees finally eliminated my profits to the point where it wasn't worth it anymore. It is still very possible to make a decent living from running an eBay online auction business, but it requires a lot more work than it used to. Competition is indeed super fierce and growing. But taxes are taxes and unfortunately net eBay profits have to be taxed, at least officially. Of course, whether you actually report your earnings as income is up to you, but just keep in mind that the IRS likely will get better access to the paper trails in coming years with new legislation and improve their crackdowns on eBay sellers who fail to report their earnings. Be careful! Ebay Former Power Seller guy,

I totally feel your pain. I used to run a nice little eBay auction business as well, but the scammers, customer demands, incredible price driven competition, and rising eBay listing fees finally eliminated my profits to the point where it wasn’t worth it anymore. It is still very possible to make a decent living from running an eBay online auction business, but it requires a lot more work than it used to. Competition is indeed super fierce and growing.

But taxes are taxes and unfortunately net eBay profits have to be taxed, at least officially. Of course, whether you actually report your earnings as income is up to you, but just keep in mind that the IRS likely will get better access to the paper trails in coming years with new legislation and improve their crackdowns on eBay sellers who fail to report their earnings. Be careful!

]]> By: EbayFormerPowerSeller http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/comment-page-1/#comment-68047 EbayFormerPowerSeller Sat, 02 May 2009 18:23:39 +0000 http://www.moneybluebook.com/are-ebay-sellers-required-to-pay-income-tax-on-sales/#comment-68047 Making money through Ebay is tough these days. With all of the get rich quick Ebay infomercials and scams appearing on television like Dave Espino's, the competition is getting way to stiff for many of us. I used to make a decent side living from my Ebay business but now it's not doing so well anymore....and Amazon's taking away much of the business I used to have from online auction based businesses. Now the IRS is trying to tax my net profits.... I know it's supposedly only fair that net gains be taxed and I'm not trying to be a tax dodger, but how about giving regular folks like me a fighting chance in this economy? Uggghh So frustrated! Making money through Ebay is tough these days. With all of the get rich quick Ebay infomercials and scams appearing on television like Dave Espino’s, the competition is getting way to stiff for many of us. I used to make a decent side living from my Ebay business but now it’s not doing so well anymore….and Amazon’s taking away much of the business I used to have from online auction based businesses. Now the IRS is trying to tax my net profits…. I know it’s supposedly only fair that net gains be taxed and I’m not trying to be a tax dodger, but how about giving regular folks like me a fighting chance in this economy? Uggghh So frustrated!

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