In The Pink
[ post a message | In The Pink ]
I have a vendor's license so I report everything anyway because I have to pay sales tax. msg
I don't sell much online, mostly at doll shows.
So, now they are going to make us pay taxes on anything over $600 that we sell starting in 2025. It was supposed to start this year, but they delayed it until next year which in turn has been delayed until 2025. Next year you can make up to $5000 before you have to report earnings.
Now this is really going to effect those who sell online and never had to pay taxes unless you made over $20,000 a year. Everything you sell online, even if you're not a business has to be reported.
People's handmade doll clothes and dolls that you resell.
I was just curious as to what others think about this new tax law. Is it going to curtail your online selling to some degree.
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