http://internetbiztaxtips.com Tax Tips for eBay Sellers, Online Business and Other Small Business Owners Wed, 13 Aug 2008 15:27:14 +0000 http://backend.userland.com/rss092 en Thanks to Kay Bell for another great tax carnival. Appropriately named The Dog Days of Summer, this week's carnival features some great posts, such as... Andrea of Queercents wonders, "Should we be able to claim pets as dependents?" Check out her thoughts in Reducing Pet Costs: Tax Deductible Pets? Dave warns Donating Clothing? ... http://internetbiztaxtips.com/2008/08/tax-carnival-39-is-up/ On July 30, 2008, President Bush signed H.R. 3221, the Housing and Economic Recovery Act of 2008 (the "Act"). The Housing Act is intended to revamp the housing finance industry, encourage home ownership and help prevent foreclosures. Below is a summary of some of the tax provisions in the bill that ... http://internetbiztaxtips.com/2008/08/key-provisions-in-the-housing-and-economic-recovery-act-of-2008/ Buried deep in the housing act that was just passed is a provision that requires credit card processors - including companies like eBay and PayPal - to report annual gross receipts of it's merchants to the IRS. Credit card processors will be required to file Form 1099 for each merchant that ... http://internetbiztaxtips.com/2008/07/paypal-and-ebay-must-report-transactions-to-the-irs/ Are you a new online business owner?  Do you know what your tax responsibilities are as a small business owner? Starting a new business is a very exciting experience.  But you may have a lot of questions, like... what taxes am I responsible for? do I need a tax ID number? what expenses can ... http://internetbiztaxtips.com/2008/07/the-new-biz-tax-consultation/ If you're an online business owner, you've probably noticed a LOT of product launches this year. Many of us are on a budget, and struggled with the decision to purchase a product, even if it was something we really needed to grow our business. Well, don't forget that ordinary and necessary business ... http://internetbiztaxtips.com/2008/07/im-courses-may-be-tax-deductible/ In recognition of recent gasoline price increases, the IRS has raised the standard mileage rate for the final six months of 2008. The rate will increase to 58.5 cents a mile for all business miles driven from July 1, 2008, through December 31, 2008. The rate for the first half of ... http://internetbiztaxtips.com/2008/07/irs-increases-mileage-rates/ I was recently interviewed by Cara of The Household Helper about getting your tax and financial records organized NOW for next year. Some of the tips we talked about include... - Create a system NOW: a folder for 2008 taxes where you can easily insert paperwork related to your taxes. - Rule of ... http://internetbiztaxtips.com/2008/06/organizing-your-tax-financial-paperwork/ With the economy slowing, gas prices rising, and unemployment rising, more and more people are turning to eBay to earn extra cash. The IRS has always had an eye on eBay and even tried to force them to report details of it's top sellers last year. While eBay resisted, the ... http://internetbiztaxtips.com/2008/06/selling-on-ebay-the-irs-wants-its-share/ Did you miss the ‘Learn How to Avoid the Top 4 Mistakes Small Business Owners Make With Their Cash Flow’ teleclass? No problem… the recording is now available to download! To download the teleclass, go to: http://www.onlinebusinesstaxtips.com/TeleclassEPWDownload.html In this call you will learn: - How to learn the simple System to control cash ... http://internetbiztaxtips.com/2008/05/cash-flow-teleclass/ "Learn How to Avoid the Top 4 Mistakes Small Business Owners Make With Their Cash Flow" Attention Coaches, Virtual Assistants, Internet Marketers and Other Small Business Owners... Join me for a free teleclass with special guest Elizabeth Potts Weinstein on Tuesday, May 20th. Title: Learn How to Avoid the Top 4 Mistakes Small ... http://internetbiztaxtips.com/2008/05/new-teleclass-in-may/