STYLE. COMMUNITY. GREAT CLOTHING.
Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.
Click Here to join Styleforum's thousands of style enthusiasts today!
Styleforum is supported in part by commission earning affiliate links sitewide. Please support us by using them. You may learn more here.
why is no one talking about MotivMfg?
why is no one talking about MotivMfg?
Just read a little bit, and it seems that you are only required to pay taxes on anything after whatever expenses you had to obtain and sell the item. Since everything I have sold has been at a loss, I just got to show that the item was worth more than I earned on it. Although tax law scares me so we shall see.
Currently in this boat...how do I show expenses? Is there a particular form?
I may be wrong, but I'm assuming it's when you do your taxes. You'll have to file online sales as income, and submit your receipts as "business expenses."
I'm gonna check with my cpa, but is there a specific form? Or just general itemized work expenses?
I'm not sure man, sorry. This will be my first year having to do this. Normally, my eBay/Grailed sales never went above a couple of grand per year. But now, I'm apparently a 'business owner' with my whopping $700 in eBay sales for used t-shirts and pocket squares.
Y'all are scaring me, I barely made any money on half the **** and I didn't keep receipt for crap I bought like 4 years ago and sat in my closet for 3. I sold everything at a lose to make space but now I'm like maybe I should've just kept everything and shot it out of a canon or sold it in Japan.
I'm gonna check with my cpa, but is there a specific form? Or just general itemized work expenses?