You can find almost anything for sale on eBay, from a piece of fine art to clippings of Justin Bieber’s hair. So it's no surprise that the IRS doesn't view all sellers alike in the online marketplace. You may not have to pay tax at all if you are essent
Great news for anyone who sells stuff online for extra cash. The IRS just hit pause on the lower threshold for reporting online sales until 2024, giving everyone a bit more breathing room. via GIPHY Originally, a $600 reporting threshold was set to kick in back in 2022, causing a tax-fo...
But instead of using the new $600 threshold right away, the IRS applied the previous reporting threshold for the 2022 and 2023 tax years. For the 2024 tax year, the IRS is using a $5,000 threshold, regardless of the number of transactions. The threshold will drop to $2,5...
Once eBay starts to collect tax in the required states, no action is required on your part. There will be no charges or fees for eBay automatically calculating, collecting and remitting sales tax. The collection process will apply to all sales with delivery in the required states whether the ...
VA's reporting threshold has been at $600 since 2020 and I have gotten 1099's from eBay, PayPal, Venmo, Stripe and a couple of other third party processors. Of course the VA income tax takes input from the Federal income tax filing so it's reported on my Federal returns as well. Of...
eBay used to be one of the more difficult online sales platforms on which to collect sales tax. However, a 2018 Supreme Court decision in favor of South Dakota changed all that. This blog post will explore how and why eBay sales tax got so much easier, a
09-24-2024 10:47 AM Upcoming dates for sellers to keep track of. A month later than planned, but here it is, updated for holiday. September 15 - Quarterly estimated tax deadline for June 1 - Aug 31. (Due to recent disasters, some states have extended relief deadlines.) Sept 25 ...
DAC7 — Sales reporting obligations The EU Directive known as DAC7, implemented in Germany by the Platforms Tax transparency Act (PStTG), requires action by eBay and its EU-resident sellers. eBay is legally required to report transaction data of its users to tax authorities under certain circum...
Seller sign-up: Lightinthebox requires more documentation, like a business license and tax registration, making it less accessible than eBay. Fee structure: Lightinthebox has a higher commission fee of 15%, compared to eBay’s fee structure of 12.9% plus $0.30. Shipping and logistics: Unlike eBa...
This article originally appeared on eBayInc.com. For over 25 years, we have embraced equitable and sustainable business practices and championed recommerce through the selling and buying of pre-loved goods on our marketplace to support a healthier planet