I’d vote for ya!
What party will he be affiliated with? Marvel, DC or Independant?
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You gave me the giggles with that post.
Heeyyyyyyy… this is political! 
(J/K!!!)
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I shall smite you all then… 
Does that mean their Smitten?
Only for kitten mittons will I be smitten
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My cat’s paws are TOO LOUD!
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You need kitten mittens!
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I am more of a Dark Horse candidate
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You win for puns today.
did we ever find out the % someone has to pay. i sold a 9k book, 8k after fees. how much should i hold back for taxes?
Put up to $6k in an IRA and you can deduct up to $6k from your annual income. Ditto for your spouse if applicable.
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I always hold back 30% on taxes on all my 1099 type of income…
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Got this today from PayPal. I had just set up a PayPal business account in the beginning of the year.
Confirm your U.S. taxpayer status
Because you receive payment for goods and services through PayPal, we need to verify your U.S. tax status. Your U.S. taxpayer information will be used to prepare the IRS Form 1099-K when it is necessary. You can refer to the instructions provided by the IRS.
This is my plan as well until I speak to a certified accountant. I also want to know what eBay reports as “income” on the 1099. For example, do they include the sales tax
THEY collect? Do they deduct their fees a shipping you pay through eBay?
I’m guessing they don’t and we need to
Figure all that out ourselves.
Can’t wait for springtime and all those flea markets and small comic con shows I’ll be setting up at!!
A full 2 months of no selling activity on Ebay for me
I go to my payouts take that number and subtract shipping from the total and record that as my sale then I attach a photo of my receipt when I purchased the item and subtract that price and end up with taxable profit.
So much book keeping sigh
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I’ve never been let down withholding and setting aside 30% of my selling money and other contract 1099 work I do. Normally it’s more than enough to pay the tax bill each year. The extra cash not used to pay taxes is like getting a bonus for me… Usually throughout the year I put the money in accounts that are making more money as well…
But will it match the 1099’s you’ll get from eBay, Mercari, etc. maybe it will. If it doesn’t, gonna be trouble…
It’s never going to match I track profit so I know the amount to deduct from my 1099 for expenses including the cost of items sold. I’m only paying tax on profits the rest of what’s claimed on my 1099 I got receipts and invoices to make exempt.