The $600 tax rule taxes people selling stuff online and yard sales. People don't actually make $600 with yard sales , they paid more than for the stuff than they get. Same with online sales. They usually pay more for clothes than they sell them for which is considered 100% income.
This law also is used to spy on people that buy Gold and Silver and Bit Coin, so Gov't will know what you have and make it easier to confiscate these items later.
It will cause many people to quit selling online because it penalizes people by making a loss look like income putting them in next tax bracket , RAISING their taxes. These people are mostly just getting by now. So, you have a min wage job making $8 to $12 an hour and now you will have more money taxed and make even less.
Again it is penalizing people trying to better themselves and rewarding loser , lazy, jackoffs that won't work and live off the system.
Yes what do you think the $600 tax rule is fools
No, I am a liberal that thinks everyone should be taxed 90% of their income to give to trees in the forest
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So Biden ain't going to tax anyone making less than $400,000, bull shit?
"If your sales are akin to having a garage sale — i. e., you unload belongings for less than what you originally paid — there typically is no reason to report what you pulled in, said Weston at the American Institute of CPAs. Essentially, there is no "income" to report."
"Generally speaking, if you're selling to make a profit for reasons that go beyond nurturing a hobby, you probably would be considered a business owner for tax purposes. For instance, if you regularly buy clothes at yard sales (or other discounted spots) and sell them — whether online or not — with the intent of making a profit, that counts.
It's funny if you thought democrats were going to cut taxes for anyone but the rich. Just look at how they're trying to increase the salt deduction to like $60000 it from $10000. Who other than rich people are paying that much in property and income tax to state levels.
Democrats will do what they always do act like they're helping the poor but actually hurt the poor the most and give all the money to the rich and using the media to lie to you so the poor people cheer it on
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It is just one more thing the government will use to totally oppress us. The sad part is that there are still people out there that think Biden is doing a good job.
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