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Fools Wildin Thinking They Doing It Unappreciation Vol Get The @#*+ out
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Huh, that wasn't taxed in the first place?
dontsteponmyshoes
Supporter
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She took it like a G....Yall remember when KG hit a ball into the stands and the fat dude acted like he got automatic CTE and had to be carried out on a stretcher... looking for the ultimate come up 
aepps20
Supporter
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MetalMario
formerly m4riol
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i have a client who is a semi big ebay seller. after awhile of consistent transactions of goods and services over a certain amount of time (talking months to years) both ebay and paypal told him he's going to get a 1099k and youre going to have to list yourself as an authorized seller. aka "we're forcibly changing you from Hobbyist to legit business"
This new 1099k form simplifies it by giving a concrete threshold of $600.
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You were supposed to claim any and all income since the inception of time.
There was a loose agreement between merchants like PayPal and eBay but now it’s 600. Banks report all your transactions to the IRS anyway but now they need to nickel and dime their way out of the stimmys and bbb stuff they can’t afford
You’re only taxed on profit which is easy to deduct down to little or 0 tax at all.
There was a loose agreement between merchants like PayPal and eBay but now it’s 600. Banks report all your transactions to the IRS anyway but now they need to nickel and dime their way out of the stimmys and bbb stuff they can’t afford
You’re only taxed on profit which is easy to deduct down to little or 0 tax at all.
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You were supposed to claim any and all income since the inception of time.
There was a loose agreement between merchants like PayPal and eBay but now it’s 600. Banks report all your transactions to the IRS anyway but now they need to nickel and dime their way out of the stimmys and bbb stuff they can’t afford
You’re only taxed on profit which is easy to deduct down to little or 0 tax at all.
I can understand it at a certain level, but $600 is insane. That can't be right. All my Venmo transactions are if I pick up the tab at a bar and my friends pay me back. That adds up, but it's not income. Would love to see the IRS come at me for friends paying me back for bar tabs.
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The IRS is not gonna tax you for tabs you and your friends picked up at bars.
It is for profit for things sold online.
That has always been the law, but it relied on people self reporting. Now to catch tax evaders the IRS made companies low there threshold of what was reported the threshold
It is for profit for things sold online.
That has always been the law, but it relied on people self reporting. Now to catch tax evaders the IRS made companies low there threshold of what was reported the threshold
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Generally, people have horrible takes about the IRS.
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Steph throwing up an all time terrible game so far lol + dubs missing every free throw
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Nah man, I laughed at first but she obviously has some equilibrium disorder.
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sponsored by Sharpie…
when i go through my mid life crisis i hope i just buy a car or somethin
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Correct, before if it was a certain aggregated amount $20k or like 200 transactions, they consider you a business.
But now you'll havw to explain and jump through hoops, unless I'm missing something, explaining why your used **** that's still valuable and sold at a lost is not taxable. Seems like just a greedy way to tax the people.
Is just another way to extort money .... like why does a car that has been used and sold 5 times needs to be taxed every single sale????
PS. When I initially read the update, I read it as every transaction over $600, obviously putting the burden on us to prove the money was not profit.
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