Business Opportunities Weblog

December 26, 2008 by Rich Whittle | 1 Comment

Entrepreneur:

Q: Do I need a tax ID number to sell items on eBay?

A: Based on your question, I’m not sure if you already have access to wholesale items or if you need to know how to get a tax ID number in order to sell them at a higher price elsewhere.

If you’re already selling and making small profits off of eBay sales, your social security number is a suitable enough tax ID number. But since eBay has its own policies–and since the IRS’s policies change as legislation changes–you’ll want to familiarize yourself with eBay and the IRS by going to their websites and reading the fine print.

Also speak to your accountant–as you may have sales tax issues (for which you need a special ID number for that) in connection with the collection of sales tax on the items you’re selling.

Photo by liewcf.

In Advice, Ebay & Online Auctions, Taxes | 1 Comment