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I am a homeschooling mother and Certified Public Accountant (CPA) combining my experience and knowledge to help homeschool organizations such as co-ops, support groups, music and sports programs. HomeschoolCPA answers questions from homeschool leaders on many topics such as nonprofit status, liability, paying teachers, tax exempt status and taxes.
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10:19 AM, Mar. 28, 2007
Do you have an eBay business? You may have tax problems!
(view similar articles on Home Based Businesses)
The on-line aution business, like selling on eBay, is a very popular way to make money, especially for Work at Home Moms (WAHMs) and home-based businesses. I know of a couple of teenagers selling stuff on eBay and making quite a bit of cash. But selling on-line comes with its unique problems. The IRS has a web page devoted to on-line auctions with issues such as:
When does selling on eBay go from being an electronic garage sale to being a business?
What taxes might you owe?
What do you have to report?
Are you the victim of a scam?
IRS webpage on On-line Auction Business
It's time to get educated!
Carol
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Another great tip! Thanks Carol.
Posted by berrymorin on Apr. 1, 2007 at 10:18 AM
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thanks
