Just got notice from Etsy that I will be required to give tax ID to them because I sell well on their site. If I refuse to, then account will be suspended.
The problem is that I don't actually make that much money. When you take off what I paid for item, shipping, insurance, taxes , and what Etsy takes out , I have actually lost half to 75% of the amount I have left over. But Biden taxes me 100% of the sale.
This is Government spying on me and the others. This is why they want to go cashless. So I am getting over taxed on my sales. Again , many will quit selling on Etsy and Ebay because this is going to put them in higher tax bracket when they didn't actually make that much money. This is the Government punishing people for working and trying to make a living on their own. It proves what I have been saying all along. Biden is raising taxes on everyone not just the rich. They also hate anyone that works for himself or herself.
This is why I can't stand liberals and Democrats or thieves. Democrats want you out of a job and out of Business.
It sucks because it makes me look like I made more money than I really did.
I want Biden to steal as much money from people and give it to useless pieces of shit that won't work
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What do you think about $600 rule that takes effect Jan 1, 2022 ?
Even if you get around the taxes with Etsy and eBay, if you deposit that into any kind of banking institution, they'll be knocking on your door. There will be mattresses full of cash, safes full buried out in the yard. By that time they'll have done their best to confiscated all the guns, except the ones their criminal voters kept, so defending ourselves will be up to the govt police, which will be useless because DAs wouldn't send their illegal alien voters to jail. The revolution is coming, better pick the correct side, is gonna be worse than if the taliban, chinese, north koreans, russians ruled. We will be praying that Hitler was back.
This sucks and will be a massive drag on efficiency (it’s obviously meant to harm smaller businesses and individuals and help large corporations that can afford to track everything automatically) but you’ll be forced to keep impeccable records. If you can’t get receipts for every expense it might help if the details for every expense are recorded on a ledger.
Well here in Germany, you have to register your business before you even start and then report everything from it. Even when you aren't really making much profit, the finance/tax authority will iimmediately ask you monthly about the VAT and shit...
1) no they don't because I have good years and bad years 2) When they say I made $600 , I really only made $200 if I am lucky depending on which item I sold
Once your accountant does the figures and files what you really made it won’t matter, I thought if only sell used items you shouldn’t need to file tax on it because it’s not new and selling for less than new which was already taxed when it was new
I do my own taxes and I would need receipts and I don't have them for everything. Auction buys descriptions are vague and lots. So , do you get the whole amount for the lot to take off or what?
Just estimate it, I think you can only deduct so much that’s allowed before needing receipts anyway but that’s why I use an accountant so they know the limit before it will raise a red flag
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