Before, garage sales and flea markets were the most popular venues for selling pre-owned or used items that you would want to get rid of and at the same time earn money from. However, thanks to the technological developments that have happened through the years, we can now have easy access to the Internet and have the options to sell our stuffs there.
Righteous as this may sound, but any business that does not pay its taxes cannot be considered as a business.
More and more shoppers are getting lured by online shops and retailers because of their famous tag line of "no-tax shopping". What most people don't know is that that certain tag line used to lure online shoppers is not applicable to all states.
They would say that they didn't really know where to go or what government department to approach so they just went ahead with their online business without actually referring to the government or the state that they are under.
If you have been selling your stuffs for quite a long time already, you may consider it as an income-generating activity, right' Having an online business really has a lot of perks and advantages such as being able to work right at home, not having to have your own boss, etc.
You should also ask what is required at both state and federal levels. Most communities would actually require you to register a trade name. If you wish or choose to operate from your home, you should ask about the local zoning laws.
Perhaps the first and most important thing you have to consider is the legality of your online business. Make sure that you are not breaking any rule or law so that you and your reputation won't be in jeopardy.In addition to that, you must be aware of the several laws that come along with online businesses such as tax rules.
If for example you don't have a nexus in another state, you can still sell and ship your merchandise to costumers residing in another state without actually charging Sales Tax. However, sales to the residents in the same state that you are living in will definitely require a collection of Sales Tax and remittance to the Sales Tax Department of your state.
If you want to have a successful online business, you should try to keep it as clean and honest as possible. Don't even try to pull off any illegal or mischievous tricks in your business or it may jeopardize your success.
Some of the basic things you need to know about having a legal online business is that your business is actually the one that will pay income taxes in pretty much the same way it would if it were a brick-and-mortar kin of business.
In a nutshell, trying to start and operate an online business requires ample time, effort, honesty and sincerity. It's a sad fact that a lot of people use the Internet for scamming others and earning money illegally.
In determining what's the right thing to do in handling taxes and your online business, it would be best to go beyond researching for legal answers alone. Consulting the help of lawyers and other legal professionals would probably benefit you more than you expect. - 31821
Righteous as this may sound, but any business that does not pay its taxes cannot be considered as a business.
More and more shoppers are getting lured by online shops and retailers because of their famous tag line of "no-tax shopping". What most people don't know is that that certain tag line used to lure online shoppers is not applicable to all states.
They would say that they didn't really know where to go or what government department to approach so they just went ahead with their online business without actually referring to the government or the state that they are under.
If you have been selling your stuffs for quite a long time already, you may consider it as an income-generating activity, right' Having an online business really has a lot of perks and advantages such as being able to work right at home, not having to have your own boss, etc.
You should also ask what is required at both state and federal levels. Most communities would actually require you to register a trade name. If you wish or choose to operate from your home, you should ask about the local zoning laws.
Perhaps the first and most important thing you have to consider is the legality of your online business. Make sure that you are not breaking any rule or law so that you and your reputation won't be in jeopardy.In addition to that, you must be aware of the several laws that come along with online businesses such as tax rules.
If for example you don't have a nexus in another state, you can still sell and ship your merchandise to costumers residing in another state without actually charging Sales Tax. However, sales to the residents in the same state that you are living in will definitely require a collection of Sales Tax and remittance to the Sales Tax Department of your state.
If you want to have a successful online business, you should try to keep it as clean and honest as possible. Don't even try to pull off any illegal or mischievous tricks in your business or it may jeopardize your success.
Some of the basic things you need to know about having a legal online business is that your business is actually the one that will pay income taxes in pretty much the same way it would if it were a brick-and-mortar kin of business.
In a nutshell, trying to start and operate an online business requires ample time, effort, honesty and sincerity. It's a sad fact that a lot of people use the Internet for scamming others and earning money illegally.
In determining what's the right thing to do in handling taxes and your online business, it would be best to go beyond researching for legal answers alone. Consulting the help of lawyers and other legal professionals would probably benefit you more than you expect. - 31821
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