Ask Experts Questions for FREE Help !
Ask
    Qthompson's Avatar
    Qthompson Posts: 1, Reputation: 1
    New Member
     
    #1

    Aug 28, 2008, 06:17 PM
    Tax pass throughs
    I own a website that allows members to post things for sale. Buyers buy the items via our merchant services account and we forward payment to the seller less our 1.75% fee.

    My question is do we need to pay taxes on the full income of the total sale or our 1.75% fee?
    Renaissance1967's Avatar
    Renaissance1967 Posts: 14, Reputation: 1
    New Member
     
    #2

    Aug 28, 2008, 10:29 PM
    What type of taxes? Sales, excise, business ?
    This appears to be a state and local specific question. Contact your local jurisdiction or consult a tax professional.

    If you are talking about Federal Income tax it is paid on net income after deductions less any credits or loss carryforward. Contact the IRS directly or consult a tax professional.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Will I pass? [ 3 Answers ]

I am also on probation and have to take EtG tests. So, you are saying you drink that much on the weekends and can still pass the test? The only time I believe I have failed was when I was drinking vodka. Never do that again. But I did have 3 beers on Friday. Here is is Monday and I have to...

Pass it around [ 3 Answers ]

YouTube - Ron Paul: A New Hope

Will I pass ua? [ 5 Answers ]

I drank some beers the other night will I pass ua I did in the morning

Thanks, but ill pass [ 2 Answers ]

I have a strong want to have a boyfriend, but I'm not desperate. Lately, a few guys have made passes at me and I've denied all of them. Also, I can't seem to even meet anyone that I am remotely interested in. I don't know why I can't find anyone that I would consider dating. :confused: I'm 15 yrs...

This too shall pass. [ 1 Answers ]

Reflecting upon what makes people stronger as a whole, it's the trusting in oneself for the knowing of what is true which allows us to get up in the morning and deal with life on life's terms. What has come to fruition for me is this: The pain, the anger, the hurt, the fear, the despair, the...


View more questions Search