This is simply not true. I would suggest speaking with an Accountant. Since you sold the merchandise the sale belongs to you
. It will be necessary for you to document the commission and/or purchase price of the items that you are selling when filing your business taxes otherwise you risk every dollar of the sale price being recognized by the IRS as your income.
Originally Posted by garpike
3) I have been running a listing service for people so a MAJORITY of the payments are not going to be my income because I am selling for people.
Concentrating on my personal collection. Please drop me a PM if you have any of the following for sale: Topps Football 1956-1959; 1961-1964, 1967-1968; Philadelphia Football 1964-1967, Autographs of Baseball/Football Vintage Stars and Hall of Famers (especially on card autos), 1990's Topps Chrome Refractor Inserts of all sports.