Tax Tips for Online Auction Sellers

Admin — Wed, 27 May 2009 21:04:05 +0000

An online business comes with many tax breaks, but it also comes with some tax responsibilities. If your online auction sales are the Internet equivalent of an occasional garage or yard sale, you generally do not have to report the sales. In a garage sale, you generally sell household items you purchased over the years and used personally. If you paid more for the items than you sell them for, the sales are not reportable.

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Tax Tips for Online Auction Sellers