Taxes for Online Sellers

 In this life nothing is certain except death and taxes. ~ Benjamin Franklin

 While it may be fun for some to joke about next year's tax season officially begins January 1, 2009. So, before you decide to put it on the back burner, I want to entice you to consider filing early and smart this year. 

 Wall Stats proudly has this interactive poster to tell you where your tax money goes. On a more serious level the IRS have a page devoted to Online Auction Sellers to help them/us to understand how to properly file our taxes.

The Internal Revenue Service aka IRS has a few things to share with you if...

• You have an online garage sale
• You start a home-based online auction selling business
• Your online auction sales are a trade or business
• You sell appreciated assets at an online auction
• You sell depreciated business assets 

Now, as to what all of that means, you'll probably need to spend your entire Sunday afternoon between noon and nine to really get your mind wrapped around it. But, whether you decide to review the information or not, the pay off is potentially awaiting you. 

For instance, if you fall into one of the above categories, don't fret. The work of filing year-end taxes doesn't come without its potential sweet points. There are tax deductions that small business owners might not know they are entitled to. 

At the IRS'sOnline Auction Sellers page you may find practical information to help you successfully use the system. Without cheating or being beat, you can play by the rules and come out on top. 

Make sure that you are up to date as an online seller in doing your part to admit and claim your taxes.