| Redisplay Messages: Compact | Brief | All | Full Show Messages: All | Without Replies| Author: | TravelBound  | | Posted: | May 21, 2023 10:32 | | Subject: | Re: California | | Viewed: | 56 times | | Topic: | Taxes | |
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| In Taxes, crazy4sixflags writes:
| | Hi I am getting ready to open a store and am based in California. I am doing
this as a side gig but hopefully will turn more then $600. My question is, what
do I need to know about setting this up? From what I have read it looks like
I have to set up a small business and submit profits and loss. Has anyone done
this? I feel like when I look it up online I have to fish though the scams to
find the correct info. I just want to make sure I am not screwed at tax time
if I am able to be successful. Thanks to anyone who helps. I am really excited
about this.
|
Be sure to track all of your expenses. These will be deducted from your sales
to reduce your tax owed.
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 |
| Author: | ABakersBrick | | Posted: | May 21, 2023 09:49 | | Subject: | Re: California | | Viewed: | 49 times | | Topic: | Taxes | |
|
| Thank you so much! I am very excited and nervous about all of this.
In Taxes, wildchicken13 writes:
| | In Taxes, crazy4sixflags writes:
| | Hi I am getting ready to open a store and am based in California. I am doing
this as a side gig but hopefully will turn more then $600. My question is, what
do I need to know about setting this up? From what I have read it looks like
I have to set up a small business and submit profits and loss. Has anyone done
this? I feel like when I look it up online I have to fish though the scams to
find the correct info. I just want to make sure I am not screwed at tax time
if I am able to be successful. Thanks to anyone who helps. I am really excited
about this.
|
Welcome to BrickLink! I don't know what the laws are for California, but
as far as I'm aware, there's no need to incorporate as a business. However,
you will most likely have to declare your business income on your tax return.
There are multiple ways to do that and you may want to speak to an accountant
to figure out what option is best for you. As a small store with only a few hundred
dollars per year in sales, I typically use the standard worksheets provided by
the IRS (Schedules 1 and C).
Hope that helps.
|
|
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| Author: | wildchicken13 | | Posted: | May 20, 2023 22:54 | | Subject: | Re: California | | Viewed: | 62 times | | Topic: | Taxes | |
|
| In Taxes, crazy4sixflags writes:
| | Hi I am getting ready to open a store and am based in California. I am doing
this as a side gig but hopefully will turn more then $600. My question is, what
do I need to know about setting this up? From what I have read it looks like
I have to set up a small business and submit profits and loss. Has anyone done
this? I feel like when I look it up online I have to fish though the scams to
find the correct info. I just want to make sure I am not screwed at tax time
if I am able to be successful. Thanks to anyone who helps. I am really excited
about this.
|
Welcome to BrickLink! I don't know what the laws are for California, but
as far as I'm aware, there's no need to incorporate as a business. However,
you will most likely have to declare your business income on your tax return.
There are multiple ways to do that and you may want to speak to an accountant
to figure out what option is best for you. As a small store with only a few hundred
dollars per year in sales, I typically use the standard worksheets provided by
the IRS (Schedules 1 and C).
Hope that helps.
|
|
| Author: | ABakersBrick | | Posted: | May 20, 2023 16:25 | | Subject: | California | | Viewed: | 128 times | | Topic: | Taxes | |
|
| Hi I am getting ready to open a store and am based in California. I am doing
this as a side gig but hopefully will turn more then $600. My question is, what
do I need to know about setting this up? From what I have read it looks like
I have to set up a small business and submit profits and loss. Has anyone done
this? I feel like when I look it up online I have to fish though the scams to
find the correct info. I just want to make sure I am not screwed at tax time
if I am able to be successful. Thanks to anyone who helps. I am really excited
about this.
|
|
| Author: | ErwinNL | | Posted: | May 9, 2023 10:46 | | Subject: | Re: store openen als (kor) kleine onderneming met | | Viewed: | 46 times | | Topic: | Taxes | |
|
| In Taxes, Ikspeellego writes:
| | hallo,
als ik als kleine onderneming met btw vrijstelling (kor)een bricklink store wil
openen
hoe moet ik mij dan registreren?
hoe kan ik zorgen dat er geen btw/vat word berekent is daar een instelling voor?
of moet ik mijn store aanmaken zonder vat enable en dan btw. nr. enz vermelden
in de terms
ik lees ook dat bricklink op de maandelijkse fees btw aanrekend
Hoe dat zit met stores die onder de KOR (kleine ondernemingsregeling) vallen
Zij heffen geen BTW over hun verkopen maar mogen ook geen betaalde BTW aftrekken.
|
Dit zijn de VAT instellingen die je kunt maken:
Er is veel geschreven op dit forum over KOR en BL, ik weet er te weinig van om
je goed te kunnen helpen.
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|
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| Author: | Ikspeellego | | Posted: | May 9, 2023 09:56 | | Subject: | store openen als (kor) kleine onderneming met | | Viewed: | 65 times | | Topic: | Taxes | |
|
| hallo,
als ik als kleine onderneming met btw vrijstelling (kor)een bricklink store wil
openen
hoe moet ik mij dan registreren?
hoe kan ik zorgen dat er geen btw/vat word berekent is daar een instelling voor?
of moet ik mijn store aanmaken zonder vat enable en dan btw. nr. enz vermelden
in de terms
ik lees ook dat bricklink op de maandelijkse fees btw aanrekend
Hoe dat zit met stores die onder de KOR (kleine ondernemingsregeling) vallen
Zij heffen geen BTW over hun verkopen maar mogen ook geen betaalde BTW aftrekken.
|
|
| Author: | SylvainLS | | Posted: | May 9, 2023 09:06 | | Subject: | Re: International Order going out from US | | Viewed: | 26 times | | Topic: | Taxes | |
|
| In Taxes, Bb_Rebuild writes:
| | Does seller need to add tax?
|
No. You don’t collect taxes for a country you’re registered in. How would you
remitt them?
| | Invoice option is not showing BL collecting tax.
|
At the moment, BL only collects:
— US sales tax for US buyers (obviously),
— import VAT for UK buyers, below £135 only,
— import VAT for EU buyers, below €150 only.
For other countries (or amounts), it’s the responsibility of the buyer (they’ll
pay at reception, generally along with a “broker fee”).
For more info, at least tell us to which country you’re sending to 
|
|
| Author: | jennnifer | | Posted: | May 9, 2023 09:03 | | Subject: | Re: International Order going out from US | | Viewed: | 22 times | | Topic: | Taxes | |
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| In Taxes, Bb_Rebuild writes:
| | Does seller need to add tax?
Invoice option is not showing BL collecting tax.
|
No, you as the seller do not add any tax to orders. If taxes are required, BrickLink
adds them and then collects them through Onsite payments.
~Jen
|
| Author: | Bb_Rebuild | | Posted: | May 9, 2023 08:54 | | Subject: | International Order going out from US | | Viewed: | 50 times | | Topic: | Taxes | |
|
| Does seller need to add tax?
Invoice option is not showing BL collecting tax.
|
| Author: | 1001bricks | | Posted: | May 5, 2023 13:18 | | Subject: | Re: Bricklink seller fee | | Viewed: | 44 times | | Topic: | Taxes | |
|
| In Taxes, SylvainLS writes:
| | In Taxes, peregrinator writes:
| | In Taxes, SylvainLS writes:
| | But then the taxes are deductible, aren’t they?
|
Yes, as a business expense. So it does all come out in the wash.
|
Good. And who doesn’t love a bit more paperwork? 
|
Says the guy who never paid BrickLink fees!!!
Which appears VERY suspect to me.
But I'm confident UTLF will find something rotten in your specific case...
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