Episode 50: Q4 Checklist - Super Spooky Tax Special

Welcome to our super spooky tax episode! Today we have special guest Kevin Reeth from Seller Ledger here to discuss with us some common concerns about taxes that online sellers face all the time! Kevin, like a one-man scooby-doo gang, is going to assuage our fears. Here’s what he’s covering, with a checklist included!

1. Getting a 1099K for the first time
2. Being taxed on the sale of personal items
https://sellerledger.com/1099-k-personal-sales/
3. Put an expense in the wrong category
4. Being audited - what are the odds?
5. Being audited - what actually happens?

Checklist:
-If you get a 1099k, keep a copy of it on file.
-Flag and subtotal your personal sales
-Do your best to keep it organized. As long as you can back up the numbers, don’t worry about it.
-Don’t cheat and don’t worry

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