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 Post subject: taxes
PostPosted: Thu Nov 20, 2014 7:10 pm 

Joined: Tue Aug 12, 2014 3:07 pm
Posts: 10
Will I receive an IRS tax form after selling to Boardsort.com?


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 Post subject: Re: taxes
PostPosted: Fri Nov 21, 2014 11:35 am 
Reputable Seller

Joined: Fri Jan 31, 2014 10:22 am
Posts: 796
I'm not aware of scrap dealers issuing IRS tax forms, but if you are deriving an income from scrapping, you may want to retain a copy of all your scale tickets showing how much you were paid and report it as self-employment income. Check with your tax preparer or an accountant familiar with federal and your state tax laws as to how you should properly treat your income from scrapping.

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 Post subject: Re: taxes
PostPosted: Fri Nov 21, 2014 12:03 pm 

Joined: Tue Aug 12, 2014 3:07 pm
Posts: 10
I actually own a computer scrapping business (tax ID #, sales tax license, the whole deal). The real question is, will Boardsort send me a W-9 for the money they've paid me? Some other companies I deal with consider me a vendor and require tax documentation up front due to the amount of money being exchanged and the benefits of being a legally owned business. I've never had a scrapyard send me anything around tax time, but I'm curious about payouts from Boardsort. I keep books on all my transactions and am not asking for tax advice. I just would like clarification for everyone on whether or not Boardsort will send us tax paperwork. Thanks!


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 Post subject: Re: taxes
PostPosted: Fri Nov 21, 2014 2:21 pm 

Joined: Tue Aug 12, 2014 3:07 pm
Posts: 10
Just spoke with Chris at Boardsort. No one will ever receive a tax form from Boardsort. It is up to you to handle your tax situation. I strongly recommend everyone who sells computer scrap in great quantity handle their taxes accordingly.


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