A New Tax Form for Small Businesses

You may be filling out an extra tax form this year.  Unfortunately there will be additional taxes for small businesses that use PayPal, eBay, Amazon and even their own websites to sell products.

This year businesses that use the above to collect at least 200 transactions worth more than $20,000 will be seeing an additional form.  You will receive the  1099-K form from the payment collection tool that you use.

Be aware that this April you may have to declare income that before went unnoticed but the IRS.  For more recent news for small businesses tune into BIZ TV and visit http://biztv.com/!!

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Posted on January 27, 2012, in Uncategorized. Bookmark the permalink. Leave a comment.

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