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  1. 7

    “Consigning” for a neighbor by selling his card collection on eBay and he has unrealistic expectations

    @rockfish37 OP has made it pretty clear that he's only profiting a percentage. Super easy for him to show only that percentage was his income and that he paid the rest to his client. But sure, your assumptions about a very simple tax situation are absolutely relevant.
  2. 7

    “Consigning” for a neighbor by selling his card collection on eBay and he has unrealistic expectations

    @sahline Ebay sends a 1099 to the OP, OP sends a 1099 to his client showing what he paid to the client. The IRS sees that only OP's commission was taxable income. Even with poor book keeping and failing to send a 1099 properly this is pretty easy to rectify after the fact unless you pay your...
  3. 7

    “Consigning” for a neighbor by selling his card collection on eBay and he has unrealistic expectations

    @rockfish37 If that's what you think then you just plain don't understand how taxes work.
  4. 7

    Tax ID

    @piripiri Then they are probably asking for your Sales Tax ID which would be issued with your resellers certificate. In my state it ends up being your EIN with a couple extra characters on either end, but you still need to get the certificate if you want to buy without sales tax. You'll need...
  5. 7

    Tax ID

    @piripiri Your EIN (Employer Identification Number) is your federal tax ID for a business, similar to how your SSN is your tax ID for an individual. So I'm not sure what you're asking about that exactly. When purchasing wholesale you don't have to pay sales taxes if you are reselling the items...
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