i'm going to rent a booth at a flea market and was told i don't need a tax id and to use a schedule c on my taxes and that i can still deduct expenses but the irs website says i need to have a #. i will not have any employees besides myself. i guess i don't understand why i need one if i'm not charging tax on the things i sell. please help!!!
2006-07-18 10:19:01 · 4 answers · asked by tlr 1 in Business & Finance ➔ Small Business
You can get a business license at the chamber of commerce in your city.
Usually if your by yourself your tax id is your ssn.
If you don't charge tax, you will be paying to the irs instead of your customers.
2006-07-18 10:23:04 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Since you live in Texas you don't charge tax on food. But of furiture in is taxable. But since you do not have a business location you probally will not need a tax ID # to sell in a flea market. But you can call the State Tax office to find out.
2006-07-18 23:49:46 · answer #2 · answered by cajundude 1 · 0⤊ 0⤋
Even though you are not charging tax, you are making income. It is to report income. Having a tax ID# means you are operating a business. That is what they want from you. You have to report the income.
2006-07-18 17:23:00 · answer #3 · answered by educated guess 5 · 0⤊ 0⤋
No
2006-07-18 17:22:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋