timber_wolf899 wrote:Hey a question for you guys with BL stores. How do you handle your taxes? I've been thinking of starting a store, but want to be sure i know what i'm doing first.
That's a question that has been asked many times on the BL forums. Technically, everyone should report income tax from Bricklink. However, if you're opening up a store just for a little extra cash to fund your hobby, like you would holding a garage sale (even if you're buying a few sets to resell), just about everyone doesn't and the IRS doesn't pay much mind.
However if you plan to sell significant amount of LEGO to supplement your income then you definitely need to report it, though still some sellers still do not. It all depends on what kind of audit (and punishment) risk you're willing to take on.
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