Indiana Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
tax question - selling items & profit
Hi ladies, I don't know if any of you sell on Etsy, Ebay, etc., but if you do, I have a question for you. I am not a registered business yet, but I have received payments for my work.
Technically I probably didn't make a profit since my rates are so low, but I was wondering what resources you could direct me to to understand how to file paperwork for Indiana and fed. What's the lower limit, tax percentage, etc. for this kind of thing.
Thanks!
Move along, nothing to see here.....
Re: tax question - selling items & profit
I don't think unless you are registered you have to pay taxes but I honestly have no idea.. you may want to ask Jen as she's been doing it for ages.
DH has his side business, and I is not registered yet. ?As long as he doesn't make more than $600 from a single payor at a single time, he doesn't have to claim a business loss/profit. He has one contnractor that sends him a 1099 for contracted work, so that is the extent of what he claims as his business loss/profit (which is in the thousands). ?That should be the case for you. Unless, say you do a lot of graphic design work for a specific company, you shouldn't have to worry about it.?
?
I know how to register to pay sales tax, but that's as far as I've ever gotten.
I will probably call some accountants after tax season is over to find out more details about self employment.
I thought you had to file taxes if you sold more than $500 or so TOTAL for the year. I could be wrong though.