Sign in to follow this  
eprcvinyls

Jiffyshirts question

Recommended Posts

So a member here told me about jiffyshirts so i went and looked and there prices sure beats my local walmarts, i signed up but it asks if im going to be selling the shirts, then i went to order and it asked am i going to make a profit with them, or decorate for fun or other.. why do they ask this? if you said your making a profit from them do they keep up with that and send it to the Tax people or something? I just checked Going to give as a gift cause that's the truth i only ordered 5 shirts today and plan on making shirts for my woman's family as B day presents. just thought that was wierd it asked that.

 

Thanks

Share this post


Link to post
Share on other sites

I am shooting from the hip here because I don't know for certain but there have been some changes in tax laws recently and this could be tied to that. I saw a post about 1099 forms being mandatory for purchases over 600 etc through paypal or similar. I never worried because I report all mine anyway but that could be the reason. If you are buying and reselling a lot then your account may accrue more than $600 and trigger a 1099 ruling possibly.  

Share this post


Link to post
Share on other sites

Not sure about any place else, but over here any thing that is  up for resale it only charged at a 1/2% tax. The expectation is like Goose said, you then pay the actual sales tax rate when paying taxes :( I'm not sure what the cut off is now, since no one has seen the details of the new tax reform, but the Fed's cut off was anything $600+ needed a 1099.

I don't move the kind of volume that anyone else does, so I just the vendor that it's for personal use and pay the going rate of the sales tax, but I do turn around an charge the same sales tax on anything I sell ... unless it's a cash job, because I'm too lazy to deal with coins :lol:

Share this post


Link to post
Share on other sites
8 hours ago, haumana said:

Not sure about any place else, but over here any thing that is  up for resale it only charged at a 1/2% tax. The expectation is like Goose said, you then pay the actual sales tax rate when paying taxes :( I'm not sure what the cut off is now, since no one has seen the details of the new tax reform, but the Fed's cut off was anything $600+ needed a 1099.

I don't move the kind of volume that anyone else does, so I just the vendor that it's for personal use and pay the going rate of the sales tax, but I do turn around an charge the same sales tax on anything I sell ... unless it's a cash job, because I'm too lazy to deal with coins :lol:

Thanks both of you, I just thought that was weird. never been asked that before.. and I did look up that anything over $600 is supposed to be accounted for at end of the year.

I need to find someone really smart at that kinda stuff to talk to to understand it all.

Share this post


Link to post
Share on other sites
5 hours ago, Go-C Graphics said:

It might also be so they are tailor there mailing list so they only send you emails you're interested in.  

Yeah, maybe.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this