posted on October 21, 2001 11:13:45 PM new
I know I seen a few boards on this but it seems to hit a little closer.
My Bud, who is an investment banker and can make a 1/2 mil on one deal... has discussed the tax on online auctioning, and stores, his focus was eBay cause he knows we play with eBay every so often. he says 2 years you will see "a" tax, the tax "aint" clear, fed, state, ?, but tax is due - "because of this war you can count on the US looking for more cash, and the net has not really been tapped" I said it would be very hard to tax and he clearly explained how simple it would be for ebay to tax, ebay can tax as easy as they bill. I went on to say, that would drive ebay nearly out of biz, he shruged and said, "it's going to happen either way"
I still have a 50% thought it won't, but, it can, and if you have an online biz and "cheat" then I say, open a storefront (NOT online! in a mini mall!) and get a pen and a large leger out.
Will buyers pay tax online??
I have once with a local purchase.
this would be a way to bring down a lot of online (private) business in my own opinion.
I would, for one, close my hobby and take that time I spend with my hobby, and\or online auctioning time to new avenues. I don't make much after the all the FEEEEEEEES and if I do, I only invest it in what I pass time with...... that extra paperwork AINT WORTH IT!
