The Booty Report

News and Updates for Swashbucklers Everywhere

Avast, matey! Sellin’ tickets online be a fine treasure, but it might draw the IRS kraken upon ye!

2025-02-15

Avast ye! If ye be peddlin' yer wares online, keep a weather eye! The tax scallywags be watchin' yer treasure hoard, and they'll be comin’ fer their share if ye don’t spill the beans on yer loot this season! Arrr, don’t be walkin’ the plank!

Ahoy mateys! Beware the treacherous waters of online selling this tax season! The Internal Revenue Service be watchin’ ye like a hawk, ready to pounce on any scallywags who be forgettin’ to report their doubloons earned from ticket sales, fine instruments, or trinkets sold on the seven seas of the internet.

In the year 2024, if ye be takin’ in over $5,000, a fearsome 1099-K form shall land upon yer doorstep, courtesy of PayPal, eBay, and other scurvy platforms! Aye, the rules be changin’ faster than a cannonball’s flight—down to $600 by 2026! So, if ye be sellin’ candles, collectibles, or half yer season tickets, don’t be thinkin’ ye can escape the IRS’ watchful eye!

Ye best keep yer financial ship in order, lest ye face the wrath of the taxman! The IRS be crackin’ down on those who think they can hoard their treasure without proper reportin’. So hoist yer sails, set up an LLC, and keep yer gold separate from yer personal coins, or ye might find yerself labeled as just a hobbyist and miss out on deductions!

So, batten down the hatches, savvy? Know the rules, or ye might find yerself swimmin’ with the fishes come tax time! Arrr!

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