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ALTERNATE WORKING TITLE: How to not get dropped like a Hot Potato by your Accountant and Income Tax Preparer

I shudder to think how many people are making money online selling items on Ebay and collecting payments using Paypal .. and are not reporting the income on their tax return.

It’s OKAY to sell some junk and personal items that you own on Ebay to help recoup the costs of other purchases that you may have .. and you probably don’t have to report the transaction. However, if you are buying and selling products on Ebay for profit .. you are a small business and must report your net earnings on your tax return.

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If you don’t know what “PHISHING” is … click on this link for more information, and to read the rest of the article in the box…

Phishing
From Wikipedia, the free encyclopedia.

This phishing attempt, disguised as an official email from a bank, attempts to trick the bank’s members into giving away their account information by “confirming” it at the phisher’s linked website.In computing, phishing is a form of social engineering, characterised by attempts to fraudulently acquire sensitive information, such as passwords and credit card details, by masquerading as a trustworthy person or business in an apparently official electronic communication, such as an email or an instant message. The term phishing arises from the use of increasingly sophisticated lures to “fish” for users’ financial information and passwords.

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