So to sell an occasional animal does one need a business license.
Do they have to do any specific taxes?
I don’t pay taxes, my income is 0 even though i get 39k a year, its non taxable so as far as the IRS is concerned my income is 0. ( VA disability payments)
Until i get my rating to 100% currently im 90% with unemployable which pays me at 100% so i can on occasions run my small business but not in any full-time capacity ( so like selling an animal here and there, i also want to sell some sodas on the side for extra cash. They are a craft soda and pretty yummy but i have to invest about 7500 for my 1st pallet to get them cheap enough to profit. I asked the VA and my attorney and they said so long as its not like a job job its ok. Hence why im working on getting pure 100% with an attorney because the VA kinda screwed me.)
So i guess my question is and i probably should ask a tax expert but since there are lots of sellers here i thought I’d ask. Is this something that i have to go get a business license and do specific taxes etc. Also if this was “a business” then taxes would be separate i assume? Is this a case where the government gets to double dip? Like i have to pay taxes in the business and then when i “pay” myself then im responsible for personal tax income as well?
Im just looking to make a few bucks here and there being on a fixed income, but im not looking to make my life harder than it is. Im not good at certain things most days im lucky if i know what day it is, or what i did the day before.
I definitely don’t want to do tax fraud or whatever. But before i go to a tax expert hire an accountant etc id like to kinda know the deal. Im sure one of those accountant will see $$ and sell me what i don’t really need.
Whats y’alls experience with selling? Im definitely not looking to carry 100s of animals or more for selling, its just for an occasional boost to my fixed income. I know im not smart enough for all the business stuff and will have to farm out management of it.