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Top Tax Questions for eBay Sellers in Idaho

Whether you are a career eBay seller in Idaho, or just making some extra cash, taxes can be a very daunting part of your new venture. Do Idaho eBay Sellers Have to Pay Taxes? Any profit from your eBay sales is considered when you determine your taxable income. In...

Idaho Business Loss and Hobby Losses

A loss on your Idaho business tax return is by no means a sure cause for audit. It is not uncommon for new businesses to show a loss in the first year or two, with high start-up costs and early, slow Idaho business. A warning, however,  to people who manage to show a...

IDAHO (EIN) FEDERAL IDENTIFICATION NUMBER

Your Idaho business will be required to identify itself on tax forms and licenses by either of two numbers: your social security number or a federal employer identification number (called FEIN or more often EIN). So, proprietors can use either number, your choice,...

Starting and Forming an Idaho Business

Opening a new Idaho business starts by forming your Idaho business’s legal structure, finding a location, obtaining necessary permits, and operating licenses.  Are You Buying an Existing Idaho Business? You may also be buying unpaid debts, unpaid taxes, worker’s...

Idaho Business Expense Guide

What Are Ordinary and Necessary Expenses? Ordinary and necessary expenses are expenses incurred by individuals as the cost of owning a business or carrying on a trade. “Ordinary and necessary” expenses are categorized as such for Idaho income tax purposes, and these...