Uncle Sam wants to tax your Ebay sales
So I'm reading today's Capitol Hill Blue and come across this article titled Uncle Sam wants to tax your Ebay sales.
Interesting, since I happen to sell on various online auction sites and run one of the larger online newsletters about the subject... So I read on.
"In tax law, there is no clear, bright line that separates fun from profit, or a hobby from a business. But IRS instructions make it clear that all income - a category that includes bribes, gambling winnings, kickbacks and money made in illegal activities - can be taxed."
I found this particularly interesting. Ever wonder if those politicians that take bribes from lobbyists and PACs report those bribes to the IRS? Hmmm...
""When the person that you owe the money to can throw you in jail, it's always a good idea to get professional advice," he said."
That line was the real kicker for this article. I was prepared to ignore it as just another "Tax Day Angle" from the news until I saw that line... That quote is from Bob Miller, who lives in Northern Utah here. Methinks Bob is on to something.
""When the person that you owe the money to can throw you in jail, it's always a good idea to get professional advice," he said."
That really spells out our American income tax system and how theIRS operates. Debtor's prisons are illegal in the USA...sort of. We do put people who don't pay their taxes in prison... Interesting since taxes are technically a civil matter and are considered a "debt" when you receive your "pay us now or face the consequences" letters from theIRS.
""When the person that you owe the money to can throw you in jail, it's always a good idea to get professional advice," he said."
I think he should have said: When the person that you owe the money to can throw you in jail, it's always a good idea to pay up.
That's a pretty good wrapup of the whole Internal Revenue system... Couldn't have said it better myself...
When the person that you owe the money to can throw you in jail, it's always a good idea to pay up.
-----
Got comments? Email me, dammit!
Permanent link for this article which can be used on any website:
Interesting, since I happen to sell on various online auction sites and run one of the larger online newsletters about the subject... So I read on.
"In tax law, there is no clear, bright line that separates fun from profit, or a hobby from a business. But IRS instructions make it clear that all income - a category that includes bribes, gambling winnings, kickbacks and money made in illegal activities - can be taxed."
I found this particularly interesting. Ever wonder if those politicians that take bribes from lobbyists and PACs report those bribes to the IRS? Hmmm...
""When the person that you owe the money to can throw you in jail, it's always a good idea to get professional advice," he said."
That line was the real kicker for this article. I was prepared to ignore it as just another "Tax Day Angle" from the news until I saw that line... That quote is from Bob Miller, who lives in Northern Utah here. Methinks Bob is on to something.
""When the person that you owe the money to can throw you in jail, it's always a good idea to get professional advice," he said."
That really spells out our American income tax system and how theIRS operates. Debtor's prisons are illegal in the USA...sort of. We do put people who don't pay their taxes in prison... Interesting since taxes are technically a civil matter and are considered a "debt" when you receive your "pay us now or face the consequences" letters from theIRS.
""When the person that you owe the money to can throw you in jail, it's always a good idea to get professional advice," he said."
I think he should have said: When the person that you owe the money to can throw you in jail, it's always a good idea to pay up.
That's a pretty good wrapup of the whole Internal Revenue system... Couldn't have said it better myself...
When the person that you owe the money to can throw you in jail, it's always a good idea to pay up.
-----
Got comments? Email me, dammit!
Permanent link for this article which can be used on any website:
posted by Aaron Turpen @ 10:05 AM
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