IRS Asks: Is Your Pastime a Hobby or a Business?
The IRS published a new tax tip in its email newsletter it sent to small businesses on July 22, 2022. The crux of the tip: if your hobby earns income, you must report it on […]
Category: Tax and Legal Issues
Even Marketplace Sellers Will Pay a Price for New Colorado Fee
Online shoppers in Colorado will pay a new fee for their purchases beginning July 1, 2022. But similar to state sales-tax laws, the Colorado Retail Delivery fee will require retailers and marketplaces to collect it, […]
Regulations Hit Sellers Shipping to Europe
Etsy warned sellers that those shipping to countries in the EU (European Union) face new requirements that presumably apply to sellers on any platform. In an announcement on Tuesday, Etsy wrote: “We wanted to let […]
Will a Version of Small Claims Court for Copyright Help Sellers?
It doesn’t take online sellers long to learn about the implications of copyright and Intellectual Property (IP) issues, whether they are being accused of infringement by a brand or they’re trying to protect their own […]
eBay, Etsy, Mercari, Poshmark Found Coalition for 1099-K Fairness
eBay announced today it had joined the Coalition for 1099-K Fairness – though a visit to the website reveals eBay cofounded the group along with Etsy, Mercari, OfferUp, Poshmark, Reverb (owned by Etsy), and Tradesy […]
Accept Virtual Currency for Payments? The IRS Wants to Know
Did you know that taxpayers who accepted virtual currency for payments in 2021 for goods or services must answer yes to a question at the top of IRS Form 1040 that reads: “At any time […]
GoDaddy Adds Sales Tax Capability with Avalara Partnership
GoDaddy partnered with Avalara to add sales-tax capabilities to its stores product for online sellers. “Memorizing the ever-fluctuating sales tax rates for over 13,000 U.S. jurisdictions is something GoDaddy doesn’t think business owners should have to […]
Ecommerce Companies Oppose ‘Shop Safe’ Legislation
Craigslist, eBay, Etsy, HobbyDB, Mercari, OfferUp, Poshmark, and Shopify are among the companies lobbying Congress about the SHOP SAFE Act, which stands for “Stopping Harmful Offers on Platforms by Screening Against Fakes in E-commerce.” The […]
Shopping App Too Good to Be True: Developer Heads to Jail
Imagine if you could find the guaranteed cheapest prices online – and that you could get in on the ground floor of a mobile app that made it possible for shoppers to save money with […]
eBay Cops to Glitch over California Tax Form
eBay told some sellers to disregard the IRS 1099-K forms it had generated because of a “recent technical issue.” On Wednesday, we wrote about sellers in California who were puzzled because eBay issued them 1099-Ks […]