Comments for IRS help line

Comment on How to calculate taxes on ebay sales? by Judy

Judy — Fri, 18 May 2012 07:32:07 +0000

If you had a profit of $800 last year, you need to file, and will be responsible for self-employment tax.

If you don’t want to file every quarter, you can pay the whole year’s worth of estimated taxes in the first quarter. Otherwise, you’re subject to penalties.

When someone just sells their own stuff on ebay that they don’t want any more, they usually end up selling for less than the purchase price (same as garage sales) so don’t normally have a profit so there’s nothing to be taxed. People who sell on ebay as a business, making a profit, are subject to tax. If someone sells somethine of their own but makes a big profit on it, maybe an antique or collectible, then that’s taxable.

Comment on How to calculate taxes on ebay sales? by Scott M

Scott M — Fri, 18 May 2012 06:38:46 +0000

I understood that ebay was still under the “Garage sale” laws unless you set up and “Ebay Store.”

Perhaps I need to find out more details as well.

Comment on Anyone support raising taxes at the local level to maintain services? by Judy

Judy — Tue, 15 May 2012 00:45:48 +0000

Reluctantly, I’d support a tax increase for those services if tax revenues have declined.

Where I live (PA), the voters don’t decide on most of those – the county commissioners, school boards, and local officials are empowered to set the tax rates without voter approval. That takes care of most of your list, except for the many areas that have volunteer fire departments, and libraries – local tax bodies aren’t required to contribute to those although many do.

Comment on Anyone support raising taxes at the local level to maintain services? by PPwallawalla

PPwallawalla — Tue, 15 May 2012 00:09:10 +0000

The first problem is that there are so many different forms of taxation that it creates a lot of room for stealing and lies. The second problem is the idea of a ‘budget’. What a budget means is say you make a 100 dollars and you budget to spend 10 dollars, we still have 90 dollars remaining right? Nobody hears what happens to that money though. My solution is we change all taxation to sales tax. Most people spend like (insert ethnic stereotype here) and that is a poor way to live. Set the sales tax at 25% for everyone and everything in the US and there will no longer be an IRS (a huge organization), there will no longer be tax evasion, there will no longer be tax refunds because you cannot be over taxed and people in the middle class may begin to really save money.
I believe that our general education system in the US needs to be changed greatly. You are what you eat and if you feed your brain mediocrity and laziness then you will become that without doubt. Students should be trialed in every way, pressured to excel and taught to DO IT NOW. Students float through school, we need much more funding for education.

Comment on Anyone support raising taxes at the local level to maintain services? by wartz

wartz — Mon, 14 May 2012 23:51:23 +0000

There are only two choices, pay more taxes or cut services. The previous poster recommends cutting non-essential services and waste. Unfortunately waste and non-essential services are not items that are budgeted expenses. In my county schools, law enforcement and fire protection are the major government expenses and are the only places where there is anything significant left to cut.

Comment on Anyone support raising taxes at the local level to maintain services? by SmartA$$

SmartA$$ — Mon, 14 May 2012 23:50:10 +0000

I would recommend they cut the waste in those services and mostly I would recommend they cut other nonessential services.

Comment on ABC’s Nightline Exposes the Tax Relief Industry with Brian Ross by TorusLogic

TorusLogic — Sat, 12 May 2012 17:47:22 +0000

Sweet. Today Tax Masters declared bankruptcy.. Imagine a bunch of wealthy people getting ripped off for owing That Much Fake Tax! lol… I just called up the company after hours and even confirmed that yes people do call in owing that much in back taxes. Idiots. lol. Reap and Sow. How can one person really be worth more? than another person anyways?

Comment on 57. Do YouTube Partners Have To Pay Taxes (YouTube Partnership Series) by iThinkNinja

iThinkNinja — Sat, 12 May 2012 04:51:15 +0000

@rjared but what if your like 15,, do we pay? taxes (dumb question i know)

Comment on 57. Do YouTube Partners Have To Pay Taxes (YouTube Partnership Series) by lEpicFails

lEpicFails — Sat, 12 May 2012 04:36:37 +0000

600? dollars monthly or in all?

Comment on 57. Do YouTube Partners Have To Pay Taxes (YouTube Partnership Series) by ggisedd

ggisedd — Sat, 12 May 2012 04:25:16 +0000

I’m actually look for an answer to that question as well, but I think I might be able to help you out a little. If I’m not mistaken, you? have to be 18 for a You Tube partnership, however, you can put it in your parent/guardian’s name if you’re at least 15 (I think). So I would assume your parent/guardian would have to put that in their taxes as their income (which I don’t think they’d mind so long as they know it’s legit, and you share some of the income with them).