September 5, 2008, Newsletter Issue #162: Reporting income and taxes from your online business

Tip of the Week

When filing for your business, you should claim all the profit from all sales from your online business. Also, you should keep a record of the ecommerce sales tax you charge where applicable. The internet sales tax you collect must be paid to your state tax office just as a normal store would report its taxes collected. The only difference is that this money is collected via online sales tax.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Shopping Cart Tip Site? Request a Tip Now!

Guru Spotlight
Tammi Reynolds