Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
You will not owe tax on the money they give you for the price of the car. You will only pay tax on the fee that you get from them.
how can prove the fees for them
Well, your gross proceeds will include the price of the car or boat, and then you will deduct the cost of the car or boat. The leftover amount is the fee that you charge them.
so I have to keep the receipts of the purchasing
Yes, you will need to keep records of all of this
can I use my personal bank account to do this kind of business
You can do that, But I would keep a separate account for that
since all the payment go thru the bank online
can I do this even if I'm not a citizen
Yes, you can do this even if you aren't a citizen.
is it true the non citizen are not required to pay tax
no, that i not true
if I'm over seas ,and I doing this business am I reqired to pay the tax to since all the transactions online
No, if you are not in the US you would not owe tax on this
because what I'm try to do right now is this kind of this business .
can my bank stop me for wiring or overnight check to the sellers
because it too much
I do not think so, but I cannot comment on anything not tax related. You would have to ask an attorney that.
what kind of attorney is
You would ask a business attorney that
and you are a tax attorney
is that what they call you
I am a CPA - a tax professional
thanks a lot and I 'm sure I need your Experience next time . you will get from me AAAA+++
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