QUESTION
Is it illegal to sell a few items online considering I don't have my business license and am on an SSI check?
Asked on Apr 30th, 2013 on Taxation - Missouri
More details to this question:
Someone is telling me that I have to pay taxes on a temporary few item sale that I plan on doing online one time only. I got a social security insurance check.
1 ANSWER
Probate Attorney serving St. Louis, MO
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Edward L. Armstrong, P.C.
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If you are selling something that you purchased for more than you paid, the difference could be taxable income (either ordinary or capital gains); if you are selling something that you made whatever you received over and above the cost of the materials used to make it is income. I don't believe this would affect disability income since it's not earned income from gainful employment but one way to allay your fears is to see an attorney in your local.
Answered on May 06th, 2013 at 9:35 PM