Taxes are Done

[bjl584]

I owe $1175.

I guess I know where my $1200 stimulus check is going.......

[disneysteve]

We did ours ages ago. Already paid the Fed and got our state refund.

[bjl584]

We did ours ages ago. Already paid the Fed and got our state refund.

I owe the state too

My CPA was swamped.
She told me they would be done last minute, but with the 90 day extension I wasn't concerned.
State and Feds will get their money in July

[Like2Plan]

I owe $1175.

I guess I know where my $1200 stimulus check is going.......

That was some good planning!

[bjl584]

That was some good planning!

pretty much perfect lol

[Fishindude77]

Ours have been done, filed and paid for quite some time.
Rather than do quarterly's this year, we just did a one time state & fed payment and are done with it for the year.

[QuarterMillionMan]

Fed owe $2700
Hawaii owe $350
California owe $150

Like BJ, I will pay come June/July.

[QuarterMillionMan]

Curious if anyone who sells on eBay or Amazon pays taxes on income generated from various states. Technically since eBay & Amazon now automatically calculates sales taxes for each state does that mean I would have to pay taxes on let's say an iPhone I sold to a buyer in West Virginia who paid me $400 ($365 for the iPhone + $35 in taxes). Am I supposed to now file West Virginia general excise tax on that $35 in taxes? Or would I pay West Virginia general excise tax on the $365 generated from the iPhone? This could get complicated with all the sales I did on eBay with payments coming from all over America.

[disneysteve]

Curious if anyone who sells on eBay or Amazon pays taxes on income generated from various states.

I report my ebay income on our state and Federal taxes. I also file quarterly state sales tax returns, which have now become superfluous since I'm no longer the one collecting the sales tax. Ebay is doing it for me. I still have to file the return every quarter just to report that I owe nothing. It's a pain but my accountant said there's no way around that.

[~bs]

I report my ebay income on our state and Federal taxes. I also file quarterly state sales tax returns, which have now become superfluous since I'm no longer the one collecting the sales tax. Ebay is doing it for me. I still have to file the return every quarter just to report that I owe nothing. It's a pain but my accountant said there's no way around that.

If you don't file, I think there's no statute of limitations when it comes to your state coming back years down the road claiming you owe money. By filing, you start the clock ticking.

[bjl584]

If you don't file, I think there's no statute of limitations when it comes to your state coming back years down the road claiming you owe money. By filing, you start the clock ticking.

There is a statute of limitations on back taxes in PA.
Last year they tried claiming that I owed $1200 from 2015.
My Accountant cleared it up for me. I ended up owing nothing.
She said that they were looking back 5 years to "try" to collect money from tax payers before the statute was up.
So, apparently it is 5 years here in PA.

[disneysteve]

If you don't file, I think there's no statute of limitations when it comes to your state coming back years down the road claiming you owe money. By filing, you start the clock ticking.

I’ve been reporting my eBay income for over 20 years and a CPA has always done our returns. I’m confident I’ve filed appropriately.

[~bs]

I’ve been reporting my eBay income for over 20 years and a CPA has always done our returns. I’m confident I’ve filed appropriately.

That's good. I wasn't saying you didn't

[~bs]

There is a statute of limitations on back taxes in PA.
Last year they tried claiming that I owed $1200 from 2015.
My Accountant cleared it up for me. I ended up owing nothing.
She said that they were looking back 5 years to "try" to collect money from tax payers before the statute was up.
So, apparently it is 5 years here in PA.

Yup, every state is different and the fed is different. I can imagine it's irritating getting a notice from the state that they think you owe something years after the fact and due to their own screwup. lol Our state "updated" their tax system and it's firing out all sorts of incorrect taxes due notices for years past.