4 ms·
This is more legislative theater. "We're catching the cheats" where the cheats are as you describe, middle or lower class households or individuals trying to ge
by andrew_ 5y ago
This is more legislative theater. "We're catching the cheats" where the cheats are as you describe, middle or lower class households or individuals trying to get ahead with a side hustle. I hope to see this reversed in the near future.
- UncleMeat 5y agoWhy should a side hustle on etsy be taxed less than a side hustle working at the local coffee shop?
- LorenPechtel 5y agoThe side hustle on etsy will likely have plenty of expenses that come off the income--but now you made the person do things like maintain inventory and the like. The compliance burden is a lot higher. I'd like to see some modified rules for sufficiently small businesses--no inventory, no depreciation, you simply take expenses when they are incurred. This would especially apply to service type businesses where your expenses are consumables and tool replacement.
- PopAlongKid 5y agoThere already are rules that avoid most depreciation in this case. The Tangible Property Regulations allow a De Minimis Safe Harbor expense deduction for assets purchased, such as a computer or office furniture. The max amount is $2,500.
- andrew_ 5y agoThere's another reply in this post about a scenario of selling a couch on Craigslist, as an example. The burden that comes with a simple transaction is undue.
- UncleMeat 5y agoSelling a couch on craigslist would easily be a "friends and family" transaction rather that a commercial one.
- deleted 5y ago[deleted]