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Post by bill on Sept 15, 2016 18:45:09 GMT
I've been reading on CreateSpace and haven't come across anything about sales tax. Does CreateSpace or Amazon keep track of sales tax?
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Post by Admin on Sept 15, 2016 18:51:07 GMT
they send you statements on royalties. I just include my personal sales in my report that I turn into the IRS. I have a sole proprietorship because of OurHome Studio. But I don't know if this is correct. I also include the amount from the royalties on my tax statement as income.
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Post by bill on Sept 15, 2016 19:02:55 GMT
Yes, those are income tax issues. I was thinking sales tax, but I wasn't thinking. Those sales are over the internet and probably not taxed. Sales done in person would be though, I think?
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Post by Admin on Sept 15, 2016 19:10:02 GMT
I tried to call the IRS and ask because OurHome studio is art and I didn't know if the books would be included or if I had to do something in addition to the art. After being on hold longer than 30 minutes I got angry and hung up and figured at least I'm paying tax. I already had my tax # established and had been running a sole proprietorship for probably about 5 years before I started selling books. I have no idea if I"m doing it right. I just know I"m paying sales tax. I have to submit my sales info January of each year. I don't know how to handle online sales except to declare the royalties as income.
What I'm really bad at is listing deductions. I'm not really sure what deductions are, what is allowed as a deduction, and what kind of receipt or records I need to keep. I'm very bad at organization.
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