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<p>[QUOTE=&quot;Jim Dale, post: 7411154, member: 100459&quot;]Excuse me for the miscue.&nbsp; That means that if you are on some website to sell something, it will be up to you to report the sales as income, as it always has been.&nbsp; Many of you (I hope.) sell coins and other commodities on the Internet.&nbsp; In that case, it will be up to you to keep records of your sales and the cost associated with&nbsp; it, i.e., delivery charges, and any other costs associated with the sale.&nbsp; You will have to total your sales, delivery charges and the sales tax.&nbsp; The hard part will be keeping up with the sales tax for each state.&nbsp; You will also be required to make up any difference between sales tax due for each state and the amount of sales tax collected to include a copy of the sales tax statement from each vendor that is exempt from paying sales tax.&nbsp; Each state has a different rate.&nbsp; If your sales are sizeable, the accounting for your sales as well as keeping record of sales tax collected and due.&nbsp; There are some rather inexpensive programs that could help you keep a record of your sales.&nbsp; Again, if your sales are sizeable, you may need to hire a CPA specializing in small businesses.&nbsp; There are some very good accounting firms that are less expensive than a CPA, but hiring a CPA will take a great load off of your shoulders.&nbsp; I worked for the state of North Carolina because I hated doing taxes, however, my last job with the state was keeping up with the accounting records for all the businesses that due business with companies in the state.&nbsp; I had 9 people working directly for me, but each quarter, I drafted other employees in our division to reconcile the sales tax records.&nbsp; No matter how you deal with it, it is a serious challenge.[/QUOTE]</p><p><br /></p>

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