1. i know i need to do the Form C(business expense net profit so on)
2. I know i need to file 1040 base on the net profit/loss from Form C
3. I know i need to fill SE form for self employment
My question is.
How do i file on the taxes that the majority of the income I get from these online sells will go back to another company because it is their transaction not mine. therefore I need to deduct these amounts on my Form C. Problem is, its very hard for me to get a legite transaction form from them. The only proof I have is the bank transaction transfer from my account to the company's account. Is this enough info for me to file my taxes so that IRS wont freak out? Let me point out that the shipping is done outside US, therefore I have to tariffs to worry about. And, most of the customers are foreign located. The only thing I do, is provide a service where I sell their things online. SOrt of like the middlemen over the interenet. thanks dawg
I do online selling services for a company outside the US. How do i file my taxes?
WELL NORMALY YOU WOULD RECEIVED A 1099 MISC FORM BUT SINCE ITS A FOREIGN COMPANY I HIGHLY DOUBT IT. WELL NE WAYS FILE YOUR INCOME TAX ON SCHEDULE SE, 1040, AND SCHEDULE C AS YOU WOULD NORMALLY DO AND IF YOU DO HAVE ANY QUALIFYING BUSINESS EXPENSES THEN INCLUDE THEM ON SCHEDULE C REMEMBER TO PUT YOUR OCCUPATION AS SALES PERSON VERY IMPORTANT. NOW IF YOU DO GET AUDITED JUST SHOW THEM WHAT EVER PROOF YOU COULD POSSIBLY SEND THEM AS LONG AS YOU DO THE RIGHT THING IN A TIMELY MATTER THE IRS WOULD PROBABLY UNDERSTAND AND COMPROMISE JUST MAKE SURE TO PROVIDE WHAT EVER INFO RELATED TO THE COMPANY AND THERE PAYING TRANSACTIONS YOU MIGHT HAVE. ALSO KEEP MIND MAYBE U SHOULDNT BE CONDUCTING BUSINESS WITH THIS COMPANY SO BE VERY CARE FULL DO YOUR RESEARCH. REMEMBER THAT IF YOU GET YOUR TAXES FILED WITH A PROFESIONAL YOUR GONNA NEED A NOTARIZED LETTER STATING YOUR NAME AND BUSINESS TRANSACTIONS . IF YOU HAVE ANY MORE QUESTIONS EMAIL ME @ G.TAXCONSULTANT@YAHOO.COM
Reply:You should have an accountant taking care of all this. He should have access to all your records and sort them as they should be. He can tell you what to put where and what not to do.
An accountant probably will pay for his fees in tax savings.
Let the pro do his job and you do youyr job.
Reply:Come on people keep it simple, the Fed. IRS don't care where the money came from and how you made it, all they care about is how much they get and where you live depends on that. and do you have proof of what you tell them.
And don't forget the state aslo wants there portion.
brenda song
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