I do not purchase my supplies wholesale and sell directly to vendors at wholesale prices. As of now I am making very little per month but wondered when i would need to get a tax id? or WHAT exactly I would need to get. I am not a registered business but don't necessarily see a need to be... any advice?
2007-03-15 05:18:20 · 3 answers · asked by kimtraut 1 in Business & Finance ➔ Small Business
I live in NY . I do not purchase my supplies wholesale and sell directly to vendors at wholesale prices. As of now I am making very little per month but wondered when i would need to get a tax id? or WHAT exactly I would need to get. I am not a registered business but don't necessarily see a need to be... any advice?
2007-03-15 05:19:50 · update #1
your tax id number or resale id is needed if you sell retail or collect sales tax.
Check with your state and local government offices to make sure your doing things right.
http://www.custom-business-promotional-products.com
2007-03-15 05:29:02 · answer #1 · answered by JLMelvin 5 · 0⤊ 0⤋
If you want to file a Schedule C on your annual taxes to claim a buisness gain (or loss), then you will need a tax ID.
2007-03-15 05:21:51 · answer #2 · answered by Kutekymmee 6 · 0⤊ 0⤋
yes . you have already been reported to state DRS and federal IRS .
2007-03-15 05:28:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋