Sunday, June 8, 2008

What's next?

Now the IRS wants their cut when you sell stuff on eBay. Just because one person's stuff is trash doesn't mean it won't appeal to someone else. The Internet has become one of the fastest and easiest methods of recycling trash into quick cash. Not only are the IRS watching eBay but also Craigslist and uBid. Of course right now reporting any profit is strictly volunteer and I guess there are not too many honest people out there. Then there is another consideration, what type of business person are you, casual seller, a hobbyist or a business? The tax issues vary for each type. Also the state you live in wants their share so these are things to think about when you list stuff on eBay, Craigslist or uBid. I would like to know how the IRS is going to police this and collect their share. Grandmother

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