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IRS Wants a Cut of Sales On eBay and Craigslist
Ponca City, We love you writes "In 2009, $60 billion worth of items were sold on eBay, meaning 'extra' money for many sellers, whose activities may provide them with taxable income. Now the Washington Post reports that beginning next year, a new law will require 'the gross amount of payment card and third-party network transactions to be reported annually to participating merchants and the IRS.' Also, for 2011 tax returns, 'taxpayers who annually sell more than $20,000 worth of goods and have more than 200 electronic transactions' will receive a new IRS form, known as 1099-K, for reporting the proceeds. The new tax issues shouldn't be a concern for people who sell just a few small items online for less than they paid for them, because as the IRS points out, income from auctions that resemble a garage or yard sale 'generally' isn't required to be reported. But if an online garage sale turns into a business with recurring sales and purchases of items for resale, it may be considered an online auction business. 'Generally, transactions resulting in a gain are reportable, regardless of whether the taxpayer is conducting a business,' says Gil Charney, principal tax researcher at The Tax Institute at H&R Block. The real reason behind the law is simple: Research shows taxpayers do a much better job of reporting taxable income when they know the IRS is receiving information about their transactions."
How exactly is this news? Governments have wanted to tax everything since well since they were established it's what they do.
.. even though this has been brewing since 2004.
"Research shows taxpayers do a much better job of reporting taxable income when they know the IRS is receiving information about their transactions."
lol
starting in 2012, businesses (that includes me and many other people who do work on the side) need to file a 1099 if you pay more than $600 in goods or services from someone.
Do you even lift?
These aren't the 'roids you're looking for.
The IRS wants to know all about your online transactions. And unlike Facebook, the IRS will definitely use the information against you.
But where are all the people who love to complain about their precious privacy?
Does this mean that I'll be able to deduct all of my capital purchases from my income tax, as I may later sell it on eBay? I bought the things with after-tax dollars in pretty much all cases, so I think I should be able to recoup any money made from selling it without paying taxes on it personally. Taxing the sale of used items is taxing twice, which doesn't seem right.
The Works of Benjamin Franklin, 1817:
"'In this world nothing can be said to be certain, except death and taxes."
I see how this could be tracked on EBay - especially "Power Sellers" with 1000's of transactions.
But on CL? that's going to be interesting to see happen.
www.effectiveelectrons.com "chips that work" Analog, RF, Mixed Signal
Will they make this as easy as claiming my earnings on black market goods like drugs and firearms? Maybe they should require stamps to be purchased for Ebay and Craigslist sales.
I like the concept of opt in taxes. That and I wish I could write off my net losses (heavy sarcasm).
You don't sell things on Craigslist; you simply find buyers, meet, and sell it on your front porch (or somewhere in public).
Fuck off.
Sincerely,
The Aeerican People.
They can haul my ass to jail if they can find me. I'm not paying taxes any more. Irresponsible, greedy fucks.
The income was already taxable, this will just help them find people trying to cheat the system. This is really no different than your bank reporting your interest paid on the 1099-int or one of the many other 1099 forms that are required to be filed by various entities.
Of course anybody who says that is labeled a loony teabagger... Good job guys... Effectively discrediting all opposition to the government was the plan all along, wasn't it?
“He’s not deformed, he’s just drunk!”
it means that they will have to collect your Taxpayer ID number and then validate it.
so no illegal alliens can use E-bay.
Since they will be reporting SSNs to the IRS it will also be interesting if the law enforcement agencies sniff this for fugitives. Supposedly SSNs are not supposed to get used for law enforcement but they are.
I wonder how they will deal with people who claim not to be US citizens.
Some drink at the fountain of knowledge. Others just gargle.
Selling online shouldn't be taxed differently than regular sales.
If you occasionally sell stuff that you own, then you (generally) aren't running a business, and not subject to tax.
If you are running a business (even a small one) selling stuff online, then you should pay tax like other businesses.
There is a long history of existing jurisprudence that determines whether you are a business or now.
And running a business isn't that bad, since you then get to write off many of your business costs.
Some would say 'crisis', but I see a business opportunity brewing in this. A darknet like sale system hosted outside of the US with out of US transaction and exchange mechanisms.
BTW, the 'citizens', I mean the consumers of the 'land of the free' are having real problems with trying to open offshore bank accounts, credit lines and the latest of these is that any foreign hedge funds are no longer allowed to advertise to US consumers. The government is tightening the grip on the people's money and freedoms. Eventually the exchange controls will be implemented, gold will be again illegal to do transaction in, the taxes will be exorbitant, the interest rates will go through the roof, the price controls will kick in and this will lead to shortages of everything, including food, which will of-course give the government the always bright idea of collectivization of the farmers, food products confiscations etc. The borders will shut down not to prevent anybody from coming in but to ensure that nobody can leave.
That will be the result of the Keynesian experiment, free money, no interest rates to the banks, printing of money, minimum wage laws, unions, social programs, the end of the cold war and globalization of economy, trade deficit, death of the free markets... the end will look a lot like the beginning of the socialist revolution in post tsar Russia.
You can't handle the truth.
Craigslist would be completely unenforceable -- there's no way to know if the sale was made, or for how much.
If they're going to tax us on the sales we make in these venues then they'll have to give us tax breaks for losses we make on sales in the venues; not just as offsets to other sales, but on our total income. Otherwise, this is a complete scam by the IRS.
Wouldn't this just mean someone will make an auction site not run in the US and therefore not required to report to the IRS?
Sounds like the perfect opportunity to compete with ebay and/or craigslist
So, what you're saying is that you've been avoiding/evading paying taxes in the past? The requirement for 1099s for $600 or more has been around for a long time. The fact that people are ignorant of the rules doesn't really change that. Yes, you as a payer now have a slightly increased paperwork burden to actually fill out the 3 boxes on the form (name& address, TIN, and dollar amount), but I don't see that it's a huge issue. It's not like there's a filing fee for the 1099s, and if you're *in business* then annual recordkeeping isn't a big deal, eh?
You didn't think the change would be good, did you?
As that Sestak criminal would say, "The era of big government has returned."
I am tired of complex and complicated taxes. The overhead from processing it hurts business more, than does the actually tax.
Obama/Dems should push a FIXED tax on ALL on-line goods for some amount (say 6%). Then have the feds take a set amount( say 3), and then the rest goes to the state. If the state does not want it, then it remains with the feds. In the states, they decide how to divy it up (states vs. local area). The point being that the costs of the accounts and complex IRS are worse than the overhead of the tax.
I prefer the "u" in honour as it seems to be missing these days.
We have already paid enough taxes on the stuff we already own. If tax paying citizens want to sell something that they have already had to pay a sales tax to get, we should be exempt from any further taxation on said items. Am I missing something here, or is this just another greedy stab from our darling government???
All businesses no matter how large or how small or informal will have to file a 1099 for every entity to which they pay more than $600 in payments for goods and/or services in a year. This includes everything: the part-time plumber, your landlord, the power company, Office Max, WalMart, etc. You are going to have to get Best Buy's TIN if you purchase a server from them. The average USA small business will need to file about 600 every year.
Warning: this article may contain humor, sarcasm, parody, and perhaps even irony. Read at your own risk.
What's to stop someone from having multiple eBay / PayPal accounts? Will keeping each of them under $20k or 200 transactions prevent reporting?
Also, how the hell is Craigslist supposed to do accounting for anonymous ads?
__ Someday, but not this morning, I'll finally learn to use the preview button.
Fuck the IRS.
"The average reporter we talk to is 27 years old......They literally know nothing." - Ben Rhodes
Well, it makes sense that a government entity wants more money but the logic of a sales tax escapes me. If I'm buying something, the person who is taking my money is making income and therefore paying taxes on it. So a sales tax is a tax paid by the buyer for the privilege of being allowed to buy something? Makes no sense.
When you earn income from a job or investments, that income is normally reported to the IRS. But then you have to report that same income yourself. Why is the data not just sent straight to the IRS, which could automatically calculate your tax bill?
Umm. I wouldn't be opposed to them taxing the _profits_, not gross sales. Particularly if they let me deduct the losses when I sell something for less than I paid for it a month ago.
Those people have been scamming the system for far too long, I'm very glad to hear this. Unfortunately they're still not doing enough to go after the mega-corporations and their thousands of tax loopholes.
Guess the teabaggers will have to take a break from selling each other useless shit on eBay and rely on their government checks to pay for signs objecting to "socialism".
Or should that be China?
I'm never too sure these days with trillion dollar handouts and trillions in national debt.
Deleted
Not necessarily. A lot of businesses are forced to advertise in the "dealer" section for car sales. Expanding this to most of the other categories has been talked about by CL users for several years now, as they generally want to avoid businesses using CL as a source of free advertising. It would be fairly simple for CL to implement this and comply(at least on the surface) with the IRS' wishes. It would also reduce the spam by an enormous amount. As it is, you have to put at least half a dozen "-foo" modifiers in any search field to get rid of spam and junk.
When you're on the run, don't use any roads, sidewalks, or anything else tax money pays for. If you do, you're just leeching off society for a free ride.
In the same way, and for the same reasons, that banks refuse to allow you to open a bank account without your SSN/TIN eBay and Craigslist will now "have" to insist that you provide your SSN/TIN in order to establish (or continue) any userid (account) with them. Even old-school media like newspapers will now insist you provide your SSN/TIN as part of placing a classified ad.
Knowing eBay, they will require this even from people who have never placed an auction rather than establishing it as a pre-requisite for placing an auction (which is really the only time they would need to know it to permit them to comply with the new law).
In case that wasn't clear for you ... NO MORE ANONYMOUS ADS.
It is trivial to make ten different ebay accounts with ten different pseudoidentities and keep the total for each under $20,000 a year. It is trivial to then transfer the money to one's real account.
If video games influenced behavior the Pac Man generation would be eating pills and running away from their problems.
They like to jail people. Done a headcount lately?
I've fallen off your lawn, and I can't get up.
For casual users buying and selling on eBay, especially selling at less thn first paid, I would agree with not paying taxes. This is targeting people operating ongoing online businesses that compete with offline businesses, yet pay no state, federal, local or sales taxes. Either all reselling should be tax free, or all taxed - what's going on now is unfair to businesses that do pay taxes & duties.
This that to cover on line sales / that don't get taxed?
1. HAAHAHAHAHAHHAAAA
2. those who do report would only be a small percentage of those that make money !
3. too bad , soo sad for the IRS
4. WE NEED FLAT TAX - TAX everything - eliminate the paycheck taxes and woot woot , then EVERYONE!! including mr.fatcat driving a rolls and eating a 100$ overpriced premium yak burger
at the trendiest restraunts will then pay their share into the pool
Politicians? They're just a manipulated subset. Go after the lawyers. That has the potential to actually solve the problem. Laws are created by lawyers, not politicians. Judges - inevitably lawyers as well - are the ones demolishing the bill of rights and otherwise turning government compliance with the constitution into a parody of the oaths they swear. Lawyers are the ones that have made the idea of intellectual property into a series of brick walls instead of encouragement to the citizens to innovate. Lawyers have made medical care both more expensive and more difficult.
Make sure you tear up the laws as well, and start over with some simple ones individuals and juries can understand. There's no real need for judges or lawyers. Juries are sufficient, given just a moderate amount of structure and a reasonable, simple set of laws to moderate.
Shakespeare's Dick the butcher was on to something. The fact that it was obvious then, as now, should provide at least a hint as to the basic underlying truth.
I've fallen off your lawn, and I can't get up.
"No!' says the man in Washington, 'It belongs to the poor.' 'No!' says the man in the Vatican, 'It belongs to God.' 'No!' says the man in Moscow, 'It belongs to everyone.'
I will not be pushed, filed, stamped, indexed, briefed, debriefed or numbered. My life is my own.
They also do harmful things, and they acquire funding for that through taxes as well. This is one (of many) reasons that government powers and government funding should be severely limited. The main reason we have an out of control government is because they control their own funds, and now also their powers (the constitution no longer governs them.) Not only do they tell you how much you have to pay them, and how often, and why, and for what, and what words like "income" and "profit" mean, they can print money (via the banking scam), incur unlimited debt (stroke of a pen, no approval required), and spend it all any way they want -- and all without you getting a word in edgewise.
Legally speaking, you can't do squat about it. In the case of the US, that's the hallmark of a government that is not in the least responsible to the people who originally put it in place. That connection has been well and truly severed.
I've fallen off your lawn, and I can't get up.
Start taxing drug dealers and make marijuana legal.
just think how much tax can be made from marijuana and how much law time that can free up.
Summary execution for all drug dealers and drug abusers via a .45 caliber bullet in the back of the head upon conviction, retroactive to 1970.
Just think of all the tax money, prison space, and law time that can be saved.
There is no "-1 offended" or "-1 you don't agree with me" mod options for a reason.
"Otherwise"?
Craig's List has no knowledge of what transactions actually take place, regardless of what section. They do not know if a car was sold through the dealer section, or for how much, or to whom, or, really, by whom in many cases.
If we had a $10 per joint tax, and 100 million people lit up every day, we'd reduce our national deficit by about 20%. Not much at all, really...
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
I'll use 20% as an example. You can substitute any number.
If your earnings are low enough that with 100% of your income you are *just* paying the rent and food and utilities, and then they apply 20% taxes, you're screwed.
If your earnings are high enough that you can pay all those things and you have 20% left, and then they apply a 20% tax, you're simply ok.
If your earnings are high enough that you can pay everything, go to Maui and Europe, and drive (and insure) a Lamborghini and have 80% left over, and they apply an 20% tax, you're not only ok, you're golden, as they say.
That - in short - demonstrates how "20%" means something different specifically depending upon your earnings.
Fair: Tax purchases, not income; don't tax necessities (generously figured as X dollars of food per person, X kilowatts per person, X gallons of water per person, X number of square feet per person, etc.) Every person gets X in certificates good for those tax debts, rather than the usual money. Like food stamps; but water stamps, real estate tax stamps, etc. These act like money, but only in the domain they are meant for - when submitted back to the IRS by the appropriate vendors. Tax every other purchase. At the other end, absolutely separate government spending from government income collection and distribution; and disallow operating at a deficit, period.
I've fallen off your lawn, and I can't get up.
Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore, advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.
http://en.wikipedia.org/wiki/Keynesian_economics
The Keynesian experiment was back in the 1950s and 1960s, when the American middle class was the envy of the world. Countries like Canada, Germany, and France have Keynesian economies and strong government regulation, and are doing much better than the United States in terms of quality of life, external debt, and life expectancy.
In short, they are like parents who send their kids to college, but stop sending them money if they find out it's all going towards coke and hookers.
Here in the states, we've discovered the raging brothel, and continue to hand money over to corporations that do nothing economically useful with the money. The problem is not investment and full employment as a goal of government policy, but the corruption and colossal failures of American governments since 1980.
Somebody could have a big income, but spend like a person with an avereage income. How will you disproportionally punish him for doing well?
Yes, but cars generally have VIN numbers and registration. Even a used car dealer is going to have a hell of a time hiding the fact that they sold a car (after all, if its still in their inventory and not reported stolen, how will they explain that it was involved in an accident 5 states away?).
There's no reporting requirement for individuals --- Payment processors like Paypal will have to report on their customers who have more than 200 sales transactions that account for more than $20k in a year. The assumption is that anybody clocking those sorts of numbers is probably running a business and should be reporting the income and expenses already. The only people adversely affected will be those who are not reporting their sales on their 1040 or Schedule C forms because the IRS will be able to cross check their reporting with that of their credit card processors.
They never said "no taxes on the net." You are still obligated by most states to report your purchases from out of state and pay sales tax on them.
Other taxes are an entirely different issue.
Banksters are the new authority of the web now?
Soda tax, This tax that tax
How about a tax on pin strip suits before they ruin us all!
Why use fact when you can ad hominem? Remember, kids:
* Fight "the corporation"
* The New Republic, Huffington Post and the Daily Show are scholarly sources devoid of bias
* 8 years of Republican control is far more dangerous than 12 years of Democratic control by the same man (i.e. FDR)
* Lackluster statements about "hating all politicians" are the illusion of apathy and impartiality
I do absolutely every transaction I can though my S-Corp. No Taxes, No late fees. All I have to pay tax on is the transfered net to me personally. This is some more paperwork with the state bi-annually but its worth it. Everything becomes an expense for my business. In other words, I only pay taxes on what I actually pay myself. It helps I have a service/rental company with a few employees.
6.8SPC TR of 550, l xwind at 6, drift rt at 26" drops 77". AT has 503 ft-lbs at 1403 fps. FT 0.86
Dude, chill out. Last I checked, derivatives aren't traded or sold on Craigslist or eBay, and profits on those are already taxed by the IRS. And China, they buy US treasury bonds direct. If you're angry about world+dog, try to form a coherent thought before you start typing, or find something else to do.
Oh no! The IRS is enforcing the rules against cheats and fraudsters. People are running "cash" businesses and lying on income tax returns to fraudulently hide income, and the IRS just wants to stop that. The IRS estimates that the income tax evasion is in the hundreds of billions of dollars range. This means that if people had actually been paying their fair share (And the government didn't just raise spending to match, yes I know I'm dreaming) that our taxes would be 25% less (because the debt would be paid off and we'd be operating with a balanced budget).
How horrible, the people that have been committing perjury for years with businesses they haven't declared will have to declare them. The were required to declare them before, so this really isn't a huge change, other than because so many go unreported, the IRS is trying new ways of getting the lying eBay cheats to declare, inconvenience us. Sure, a simplified system would benefit everyone, but lying to steal money from the people isn't something I think a good thing, like so many who brag about cheating the government out of taxes they owed.
Learn to love Alaska
Craigslist is never going to know that. Craigslist knows nothing about the transactions. Craigslist is a place to meet people and nothing else. Sometimes you date them, sometimes you buy things from them, and sometimes you sell things to them, but you don't give money to Craigslist for the transaction, and they never know if it completed or anything else.
eBay knows all. That is the difference.
Learn to love Alaska
Especially for the little incomes. Tax more, take more.
I hope they do, furthermore I hope this pushes people over the edge.
In fact I hope the IRS and its ilk throws people into prison by the truckloads maybe even fine them to make them indentured servants for the rest of their lives.
Tax more, take more. I hope the IRS gets more and more because as I see, that is the only way people are going to stop this sham of voting and actually start doing what the colonists did when faced with Englands taxation that would destroy your business and labor you worked so hard for.
I hope we get a ton of new taxes and lots of police to enforce them.
-Hack
Lets say 5 years ago you bought three tractor trailer full of taxable items you resale. You sell $50,000 worth of stuff, but you actually paid $45,000 for the stuff initially. Do you have to pay taxes on $50,000 or the $5,000 difference?
God spoke to me.
"And I suppose you don't care that the Fair Tax is a ridiculously regressive tax? Because it taxes buying power, it disproportionately effects those who do not save or invest but, instead, live paycheck to paycheck. So, if you're poor and you have to spend all your income on rent and food, the fair tax hits you hardest. If you're rich, and you are able to invest half your income, and you spend the rest, you're only taxed on half your income. Thus, the rich pay a lower real tax rate than the poor. (Add to this the fact that the marginal value of $1 is far less to a rich person than to a poor person to begin with and the system starts to look downright dystopian.)"
Actually, the current system is disproportionate. One person should pay the same tax rate as any other person, regardless of income. That would be proportionate. A higher income person paying 20% taxes would pay more taxes than a lower income person paying 20% taxes. Making him pay 30% is just robbery.
And you expect us to pay off the debt without enforcing tax laws against cheats?
Learn to love Alaska
Two words...
Fuck Them!
The hell we are going to keep track and pay even more of our HARD EARNED money to people who spend it foolishly and against out wishes. If we are selling on Ebay or anyplace else - we are taking a loss, on items we have already paid too many taxes on already.
Tell them all to take a hike - we are mad as hell and aren't going to take it any more.
This isn't about taxes. This is about government tracking of personal purchases. They cannot have people selling things to each other without an automated means of keeping track of all of those purchases. The government will spend far more in simple overhead in processing the extra 1099-K's than they'll receive in taxes on the $60 Billion.....and the sheep will get more of the tryanny they so richly deserve. If the people refuse to exercise their power, they abdicate it. Your apathy will make slaves of us all.
DISCLAIMER: The below paragraph is political commentary and exaggeration to make a point about your stupid assertion to not pay taxes and should not be construed as any sort of actual threat!
Fuck Off! If you don't want to pay your fair share of the services you receive from the Gov't, then FUCK OFF! So someone can come to your house to kill you, rape your wife, murder your children, and steal your shit! Don't expect any help from the Gov't that you don't want to pay any taxes to. Dumb-ASS!
Now, let's try again to be a reasonable and intelligent member of a society instead of fucking moronic douche-bag. JACK-ASS!
Over-the-top Response Guy! Giving "Over-the-Top Responses" since 1970.
Given the way US debt works, it will never be paid off, regardless of how they enforce the tax laws.
Never ending wars and backstopping corporate losses won't pay for themselves.
DON'T FORGET IT: Roads are Open as a matter of Right to public vehicular travel. No licenses are necessary, because it is not a privilege from a private service company that might be prepayed to maintain unrelated improvements near or upon the roads. Insurance is not necessary, because it diverts blame to another party: solve your problems in the country Small-claims court.
Statutes all contend that all roads are Open as a matter of Right to public vehicular travel.
Taxes don't pay to clear the roads. Forcing someone to abide by regulation just because you or anyone PAVED unnecessary substrate ONTO the Road to accomodate your excessive weight from degrading everyone else's Right is a jurisdictional issue.
The jurisdiction problem here is heavy-weight cars are what pay for the road to be PAVED. Heavy loads should be distributed over more axles or never leave the railcar they should have been arriving on.
The average USA small business will need to file about 600 every year.
Whew! The computer came along just in the nick of time.
Shai Schticks:"You don't make peace with friends, you make peace with enemies"
First of all, any character or remedy addressed under Civil standing is implied that the addressee of such infraction is legitimately in the country: so first acknowledge that they have character to respond as a civilian rather than misplaced character (double-speak as some call it).
Second of all, a tax is collected in a district Court. If you haven't been paying attention, all the contracts you see that volunteer you explicitly to commit a taxable event is a fraud upon the court because it established a tax to be diverted into another forum for their intents and purposes. An authentic tax doesn't collect through an induced or impelled registration with a Baltimore MARYLAND corporation with a TIN or iTIN from Internal Revenue Service. If you owed a tax, then an uncorrected/non-abated notice from a district Court would presume you owe it, yet that still amounts to a lien if not by 30 days of silence. So in the matter of dodging taxes as being wicked, well let me remind you that IRS is a supplanted form of administrative body that is diverting actual taxation away from the district Court. Figure that out, so if you agree to a contract to commit such taxable activity then that is not a tax but an unlawful contract.
Third of all, there are territories and there are countries; all definitions of emigrating or immigrating have all been a commercial response to markets and merchants selling wherever it affords them. What you see today is more the natural inhabitants of a continent to aggress in all their natural ways in their domain with their property. All the fear you have in your mind is your lack of knowledge. They are either an occupying militant or a national whom is disputed for unneighbor-like activity. There are herbal remedies for all kinds of parasites and infections that you're afraid of, only the standing pharmaceutical companies are not dispensing products but to supress your bodily immune system; if you haven't noticed, the entire planet of people is weakened by bad health, and that is where the money is -- just look where all the money is: it's not in broken bones and regrowing skin from deformities, it's in drugs to remove the symptoms of disease rather than remedy the origin.
Remember that Income Tax is authenticated under Section 83(a), and your labor is exempted because you payed nothing to receive your labor (as given by your nature) and you sell it or are compensated by the company you invested your time to.
Get luck to you.
If you haven't been keeping-up on the times, the currency being circulated isn't a dollar form by a Will to transfer in a Dollar denomination from District of Columbia not the Several States or around The 48 united States of America.
The dollar in The United States of America has been eschewed in that regard of using it as a denomination, because misusing it far and above it's original definition has only liened more taxation. How they use the dollar today is like how farmers get payed to not grow crops in that regard: by giving evidence of doing something at such dollar of transaction when in-fact according to Statute they never accounted to move any such dollar but traded receipts of inflation.
In this regard, nobody will have any business in a year to exceed 600 dollars. Not even near 100 dollars. With the value of the dollar in The Coinage Act, any man among the people would move the equivalent of 3 dollars in a month where the same would be equivalent of USD 3000 in a month.
Do you see what that federal corporation (US Code Title 28, 3002a) "United States" is doing in the District of Columbia? Do you see yet how that "United States" is outside The 48 united States of America? One is a pseudo-class competing with privateers in District Court (United States vs Breadloaf, or United States vs Bob, or United States vs Ford Pickup Truck), the other is a style of union (the Several States joining their markets into The 48 united States of America).
The "intent" of the eBays and Craigslists of the world is supposedly to let people sell things they don't want around (more or less). If I buy something with my income, and pay sales taxes on it, then sell it later on then so be it. If I'm lucky enough to make a little money on the arrangement (like if it turns out to be collectible), that's splendid. But it's not a business. Taxes due at each step of a transaction are a VAT, and we don't do that here.
If I'm buying goods wholesale or as an investment and I'm trying to sell them at a profit as my means of earning a living, though - well, that's taxable in this country and that's just all there is to it.
I run a services business (as an S Corp), and I could probably pay a little less tax if I weaseled appropriately and just buried all my income as "expenses". I don't. The business pays what are real, legitimate expenses (I don't buy an iPod for my kid and call it "computing equipment" or any of that kind of shady stuff). I keep my business and personal money separate and I pay myself and my employees a salary. I could probably make a few more bucks being really aggressive about things, but I know I'm doing the Right Thing and I'm not in line for an eventual trip to Federal Pound Me In The Ass Prison.
In other words, if you're trying to live free of the IRS by doing a cash business on eBay, screw you. Pay up.
-- Josh Turiel
"2. Do not eat iPod Shuffle."
geez man, check the economy and project it out a few years. You would regret in spades giving up that farm if you sold it now. Hang on to it, it might be the thing that keeps your extended family and some friends fed and solvent and you actually employed.
You know those "good old days" you hear about? You are in them right now. It is *absolutely not* going to get any better than it is now, it is going to get much worse, for most of the people on the planet. A LOT of well off white collars are going to go completely broke and into total poverty soon now.
Yeah, that was kind of my point.
Meet death.
---- Booth was a patriot ----
...and is probably due for some serious review. I'd lean towards full legalization with people being held responsible for their actions. I am willing to admit though, that we don't yet know if that'd be a good thing or not. We could end with far too many people hopped up on crack and heroine and we might not be able to meaningfully hold them responsible beyond jailing them for non-drug crimes they might commit. I think those that support these sort of drug laws believe that to be the case and most who support them (not necessarily those who are making money off it though) believe having these laws is better for society than not. I'm pretty much with you though and think the negatives of these sorts of laws far outweight the positives. I'd be happy to support, along with you, any group that would like to work to have these laws changed. Still, that doesn't mean I shouldn't pay my taxes. It means I should become and active participant in our democracy and the public discourse and work to have unjust laws corrected.
Over-the-top Response Guy! Giving "Over-the-Top Responses" since 1970.
No...they can't have it. Next question please....
it does not apply when the payments go to a corporation- only when it's to an individual
1098/1099 misc filings are already required it's not new
every day http://en.wikipedia.org/wiki/Special:Random
"IRS Wants a Cut of Sales On eBay and Craigslist".
Yeah, well so do I. However unless they get some laws changed they are not going to be getting more of a cut than I am.
I am sure taxing all online transactions will make politicians very popular.
I'm a good cook. I'm a fantastic eater. - Steven Brust
The big time drug money gets laundered and invested as well as played with by the bankers who love the extra billions to work with. The IRS sees part of these huge actions already so dealing with the smaller stuff is not worth the political costs involved.
Democracy Now! - uncensored, anti-establishment news
... EBAY is no longer stuck in 1995, when small sellers actually had a chance to sell things on EBAY. Sadly, that no longer happens. The small "garage sale" vendors don't sell shit on ebay, so they go to places like Craigslist. The big sellers should have always been paying taxes anyway.
-- "In order to have power, I must be taken seriously." -Mojo Jojo
Are they going to send investigators around the weekend garage sales too?
What! What! Since when does hyperspace belong to the IRS or US for tht matter? Are they F#cking mad? Personally I am from Mars and my wife is from Venus. We don't need no F#cking IRS no F#cking USA to do business at EBAY or on Hyperion where all go Hyper-Shopperd go to buy their supply.
F#ck F#ck F#ck!
You've completely missed the point and misunderstood what I was saying.
I wasn't suggesting any income level is ok, or that any particular way to earn is ok, or that any particular tax is ok (or not.)
I was setting a defined horizon, then demonstrating what happens to that horizon at different income levels and a constant tax rate. You can set the horizon anywhere you want, living any way you like, with any particular tax rate, and the example works precisely the same way.
The point simply was, and remains, that a particular tax rate affects people at different income levels differently. Which is the answer to the original question.
I've fallen off your lawn, and I can't get up.
Prisoners by headcount and as a function of population
I've fallen off your lawn, and I can't get up.
With children you get more, but a couple with 7 children would receive only $47840 rather than the $100k you suggest.
You know what, I am tired of having my money taken to incentivize people to breed like rabbits. At some point, having a(nother) child has to take into account your means of supporting and nurturing it into adulthood as a productive member of society.
What could possibly be the benefit to socienty in having a seventh child in a family already overcommitted in funds and relying on government pittance ?