Do I Have To Pay Federal Taxes For Having An Online Business Drop Shipping?
Posted by IT CommentatorAug 5
We have someone that ships out the product for us. We do not carry any inventory.
One Response to “ Do I Have To Pay Federal Taxes For Having An Online Business Drop Shipping? ”
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You pay federal income taxes (and state if applicable) on the net income you make.
You calculate that by taking the Gross Income you get and deducting all your expenese and costs of the products.
If you are making money then you owe taxes.
You should probably get some advice from a competent tax advisor.