Ashlea Ebeling
speaker
2,002 appearances
38 recordings
1 series
first heard Jul 2022
last heard Feb 2025
Ashlea Ebeling’s voice in public audio — every appearance, attributed to the second.
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Appearances
I really have to deal with all this record keeping and report it as income.
The point is, if you're making a profit, you do have to report it as income.
The biggest change is that millions more taxpayers are going to get the form this year.
And that's because the thresholds have changed.
For last tax season, you had to have made $20,000 and had 200 transactions to get a form.
But this tax season for the 2024 tax year, it's just $5,000 no matter how many transactions.
Like who has to look at this?
So mainly it's people making between $5,000 to $20,000 who this will be new for.
And it's not just people who sell stuff like tickets and clothes online.
It's also people making stuff and selling it on Etsy.
It's people taking online payments for their services online.
Really big thing, the IRS has just launched an investigation into taxpayers who earn money as experts on the online platform Just Answer.
And they allegedly failed to accurately report their income.
It was in the past from 2017 through 2020.
And a judge in December just authorized the IRS to issue summons requiring Just Answer to provide the names of these people.
So the point is you might be found out.
Your Etsy gig would be considered self-employment income.
And you would just tack that on.
If you're already self-employed doing something else, then you would just tack this on to your Schedule C and you're already used to doing this probably.
But for someone who has a W-2 like regular daytime job and then they're doing this, they might get more confused because they don't already know that you have to pay in self-employment taxes and that you have to possibly pay in quarterly estimated tax payments to make sure that you've paid enough throughout the year, not just at the end when you'd file your return.
Showing 161–180 of 2,002 · page 9 of 101
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