Tax
 

So, owning a clothing brand means taxes. Does anyone know how to do sales tax and income tax? I kind of need help of where to start and whatnot. Please add me on discord Khai#0409

Is your brand officially registered as a company?

Contact your local tax office and ask, or look through the terms and conditions of thr online outlet to see how they deal with tax (the last thing you want to be doing is paying more than you actually owe).

Not sure how it works in the US, but in the UK if you're selling commercially (which you are) then you will have to register your governments tax system (UKs is HMRC), which im pretty sure you could probably do online.

Where you register should have way more helpful information than what anyone here can provide. Good luck

No, not yet.

I'd probably avoid it for the first couple months but I'm not sure if I'd be caught.

Soz I did a bit of research and edited my initial message. This is defo not the way to go, you really should do things by the book or it'll bite you down the line.

https://blog.bigcartel.com/taxes

Seems like a good read.

I'm p sure tax evasion is a pretty ****ty road to go down, them Federales don't mess around when they get skimped on their end of the bargain.

Dunno about laws in the US but you may not have to worry about tax until u earn a certain amount

Can someone confirm this? Santa Rosa, CA

Unless you make over $9,345, your income will not be taxed by the federal government (http://classroom.synonym.com/much-un...-it-24328.html).

I would still file taxes every year though. It's very easy and for many individuals, you simply need to fill out a 1040EZ form and submit it electronically. If you want something even easier, many elect to use software such as Turbotax (as I have for the last fiscal year).

Every state is different. Remember you are paying federal, state, and local taxes (if applicable). The best people to talk to about this is your parents so I would consult with them first.

I'm going to ask my dad tonight since he's the only one that speaks English. And when you say I'm paying fed, state, and local is this all paid separately? Sorry, I know nothing about taxes.

Usually when using software such as Turbotax it'll handle all of your state and local taxes. I believe it's free if you make under $30,000.

As a business owner, I'm pretty sure there's different rules. I would research it.

Just don't pay tax dude, they won't know