paying the tax man

tenpoints · Feb 2, 2011

Okay so say you start drawing in a little money on eBay, your really not making that much but your getting a steady flow of $500 to 1k a month. Should you start worrying about the tax man? Should you get a business license? Or is this type of money still too small. What do you guys think?

wholesalereplica · Feb 2, 2011

depends on where you are based, some countries are sticklers for this others are not

I used to be in the Uk and was doing maybe 1o times the money you are talking about and never declared and was never chased

CashGrower007 · Feb 2, 2011

wholesalereplica said:
depends on where you are based, some countries are sticklers for this others are not

I used to be in the Uk and was doing maybe 1o times the money you are talking about and never declared and was never chased

How long were you doing it for?

Did you have any problems with PayPal?

Doesn't PayPal report you to HMRC or anything

Thanks.

zedd32 · Feb 2, 2011

From what I've heard, (in the US) if you earn over $600 for the year, you must file.

solventnine · Feb 2, 2011

If you're in the US, head over to the federal tax web site, go to Individuals, and the second item is "Do You Need to File a Federal Income Tax Return?"...click there and it will lead you through a few steps so you can determine whether you'll need to file.

paying the tax man

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