online business tax

[Shimura 0]

hi all, i would like to know about making an online business example through facebook, instagram. so th e question is about how to pay the tax? Should i register for business license?

and how much total income that will makes you have to pay the tax?

Anything will be very helpful, thank you

[mandixon 9]

Hi,

I filed my 2012 taxes as "self-employed". I work from home via my computer. You need some form of "income evidence" eg: contract stating your income. I filed through an agency and they requested "an official document indicating my income". I know a few self-employed people in NYC who just go to a tax expert and give "a number" and the expert does the rest. Maybe you should look into hiring a tax expert if you don't have evidence of income (contract).

You are required to file income tax if your income from self-employment is 400 dollars or more per year. It is a little amount. I think IRS wants to keep track of the income of self-employed people because they can easily go away with not filing taxes.

Good luck!

[mandixon 9]

I just forgot to add that it is possible to use the receipts for services provided as evidence of income.

[Shimura 0]

Hi,

I filed my 2012 taxes as "self-employed". I work from home via my computer. You need some form of "income evidence" eg: contract stating your income. I filed through an agency and they requested "an official document indicating my income". I know a few self-employed people in NYC who just go to a tax expert and give "a number" and the expert does the rest. Maybe you should look into hiring a tax expert if you don't have evidence of income (contract).

You are required to file income tax if your income from self-employment is 400 dollars or more per year. It is a little amount. I think IRS wants to keep track of the income of self-employed people because they can easily go away with not filing taxes.

Good luck!

Hi Madison, thanks for your reply, so next year, what i need to do is filling my own tax and doing join tax with my husband too? i am selling some stuff and try to make it much bigger and some of my friends said it can be like business tax and need license

so if i am buying some stuff to be sell again, i just need to collect all the receipt, gas / miles and all shipping fees?

is it every 3 months or just 1x in a year?

yes i think some people doesn't pay for tax, because as i knew some people selling stuff through facebook and they said they didn't pay tax for that

[CarlosAndSveta 808]

hi all, i would like to know about making an online business example through facebook, instagram. so th e question is about how to pay the tax? Should i register for business license?

and how much total income that will makes you have to pay the tax?

Anything will be very helpful, thank you

Here is a link to IRS Publication 334 - Tax Guide for Small Business that might answer some of your questions regarding Federal income taxes:

http://www.irs.gov/pub/irs-pdf/p334.pdf

[TimeTravel 78]

Hi Madison, thanks for your reply, so next year, what i need to do is filling my own tax and doing join tax with my husband too? i am selling some stuff and try to make it much bigger and some of my friends said it can be like business tax and need license

so if i am buying some stuff to be sell again, i just need to collect all the receipt, gas / miles and all shipping fees?

is it every 3 months or just 1x in a year?

yes i think some people doesn't pay for tax, because as i knew some people selling stuff through facebook and they said they didn't pay tax for that

If your business is growing up, it is best to set up your business registration, it comes with alot of benefits. Like you said if you are buying some stuff to sell again, here you would involve sales tax situation. If you have business registration, you may get your sales number to pay the sales tax, as well as can get tax-exempt for resale purpose items.

May be, buy a good from Amazon about Start up S/C-corporation or LLC, and see which one seems good option for your case.