I have a sucessful ebay buisness, do I file taxes for it?
Question by B-More G: I have a sucessful ebay buisness, do I file taxes for it?
I make around $ 350 a week on ebay. Do I have to file taxes for it if I have a regular job on top of it? Also if I do can I claim any business deductibles? If yes what outta of this list:
I sell movie scripts, so I use about 2000 pages of paper, 3 ink cartilages, and $ 20 worth of shipping accessories.
Best answer:
Answer by Graham N
deduct all your costs and pay tax on the final profits.
And yes, you have to file taxes for it or you will end up in jail.
The IRS has special teams that do nothing other than trawl ebay looking for tax evaders.
What do you think? Answer below!
