Taxation on Online Profits?
450176
That's called income. And Uncle Sam always wants your income, so it is taxed. That is just the reality of life.\n\nWhen you are self employed and a sole proprietorship, you fill out Schedule C. In Schedule C, you will list your income and you will list your expenses. You will then deduct your allowed deductions such as advertising, web hosting, domain name renewal and other expenses.
884222
no tax on winnings unless it is via a competition/ lottery generally it has be a massive amount for taxes to be charge in those circumstances too...\n\nnot sure on the internet poker rules, although it does raise some questions....
683125
Yes, you have to pay taxes on the gain. You can deduct your basis (what you previously paid to acquire or maintain the domain name), but you do owe taxes on the profit. If you have owned this domain name for more than a year, you may treat this as a long-term capital gain, which will be subject to a lower tax rate.
347174
If the company has a taxable "nexus" in your state -- some form of a presence that is sufficient to give the state tax jurisdiction over the seller -- then they can be required to collect sales tax from you.  If they do not have such a presence, then the state can't force them to collect the tax.  Theoretically you owe the tax whether it is collected by the seller or not.  I say theoretically, because I don't think any of the states presently enforce this on ordinary consumers.
418487
I know that businesses that sell through ebay must charge sales tax when selling to someone within their own state. I would contact your state government to see hor your state handles this situation.
107354
Regarding the IRS, it depends on a lot of things. Remember gross income is income from whatever source derived, not if it is a certain dollar amount... Is it business or personal? Did you sell for more than what you bought it for? If you did, you need to look into the reporting requirements.
933038
There is a gullible tax if you buy HYIPs.  Typically its 100% of the money you invested and it gets paid directly to the scamming jerk that sold it to you.\n\nDon't buy HYIP's
535615
The legal answer to your question is YES.  You are required to pay taxes for anything you sell for a PROFIT on ebay.  Many people, myself included, have sold items on ebay for a profit.  You are required to report this as income.\n\nIf you purchased an item for $20 and sell it for $10 on ebay, then no taxes are due.  In fact, you could probably count this as a loss against anything you sold for a gain.\n\nBest of luck, email me with any questions,\n\nJared
409466
You should file schdule C for your Ebay business. You first account your sales from ebay, then you account your business expenses: cost to acquire the items for sale, ebay fees, paypal fees, shipping fees, advertisement, auto expenses, home office deduction, telephone expenses, supplies etc. The difference of sales and expense is the net income which is subject both income tax and selfemployed tax. Schedule C is complicated, please seek a qualified tax professional.\n\nZhicheng Lai\nEnrolled Agent
1069923
Yup, you're taxed on income (salary, dividends, rental income etc).\n\nProperty is taxed yearly based on the value of your property (I think).  \n\nBuying and selling shares are taxed on point of sale, so if you do not have any other income, you can file for a refund at the end of the year.\n\nCapital gains are NOT taxable so if you strike the lottery, it's all yours.
281662
If you own a company, you're liable to VAT if you earn over £60,000 a year. If you're soletrader it may be less than that.\n\nGoto http://www.hmrc.gov.uk for more info
271431
Honestly there is no way online. If you do find something then you will have to pay out money at the beginning plus have to pay your own taxes out of your checks. ( No money taken from your checks meaning you set money back for the end of the year)
310160
Gross profit equals gross income less expenses.  Another way of putting it would be Earnings before interest, tax and depreciation allowance or EBITDA.
747128
Click on the link bel  eow for and see VAT Schedule of the State concerned where you want to sell the productsir \nwww.allindiantaxes.com/vat.php
913990
Excluding VAT but before any profit related taxes which should appear as a seperate item further down the P & L account.
607003
It depends on how cooperative the bank in Bermuda is.  If they value your business and won't disclose the details, then the money is not taxed.  This is technically illegal and people might get to wondering how you got that 100k and you might get an investigation later on, but lots of Americans illegally make offshore accounts.  Are you (or whoever it is) feeling lucky? :)
700419
This one is tricky.\n\nIf you find some stuff in your attic and want to "get rid of it" and sell it on eBay, then you don't have to pay taxes on what you receive.\n\nIf you regularly troll through garage sales looking for "bargains" which you can resell on eBay at a profit, then you do have to pay taxes on what you receive.\n\nIf you are selling new items on eBay then you undoubtedly have to pay taxes. (The above two are assuming used items)\n\nDisclaimer #1: Consult a tax professional, this is not tax advice.\nDisclaimer #2: I work at eBay