[TaxMama note: think eBay.com and epage.com ]
Courtesy of IRS
Many people don’t realize the income they earn from auctions and consignment sales may be taxable. A new IRS Fact Sheet helps taxpayers better understand what income they are required to report and what deductions they may be entitled to take.
http://www.irs.gov/newsroom/article/0,,id=174478,00.html
[See Resource Box below for links to this and other resources]
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Image may be NSFW.
Clik here to view.
- Ask TaxMama :: Where taxes are fun and answers are free
-
TaxQuips :: The number ONE free tax podcast online
- IRS Tax Gap Series :: Reporting Auction Income and the Tax Gap
- IRS FAQs :: Online Auction Sellers
-
IRS Tax Gap :: Over view of all Tax Gap Information and Enforcement
- MarketWatch.com – TaxMama's TaxWatch article :: Taxes the eBay way
- Skip McGrath's :: Auction Seller's Resource – free information and blog
