Re: Are you guys aware of this ticking time bomb?

On 10/20/2024 12:57 PM, John Robertson wrote:

You really must hate living in the US don't you?

It is amusing how much folks rail against "unfair" requirements
that they feel have been *imposed* on them; yet want *protection*
(via similar requirements -- tariffs?) when they think it will
benefit them!
We had a neighbor ranting about folks complaining about his yard upkeep
("lowers property values in the neighborhood", etc.).  My other
neighbor, at the time, appeared to agree with him:  "You're absolutely
right!  It's MY property; if I want to put up a MEAT RENDERING plant,
here, why shouldn't I be able to?!"
The first neighbor, having previous experience in slaughterhouses,
suddenly got *really* quiet...

Assuming you live in the USA and aren't a Russian or Iranian troll.
 I'm Canadian and I have to fill out US forms to do business there such as:
 IRS regulations require non-US taxpayers to provide Form W-8BEN to Amazon in order to be exempt from US tax reporting requirements. An IRS Form W-8BEN expires on December 31 following three years after a selling partner provides it to Amazon. When prompted, foreign selling partners are required to retake the tax interview to submit a new form.
 So, get a life, find a real problem and deal with it.
 How about this - US residents who wish to import products valued over around $2000USD MUST provide their Social Security Number to their customs clearance provider under US law that was enacted in the early 90s - Republicans in power at that time, eh?

There *are* a shitload of rules and regulations.  And, the onus is on *you*
to know about them.  But, that's why we *hire* people with that expertise.
It's trivial to balance one's accounts (as a business).  And, file one's
taxes.  Etc.  I do all of these things.  Yet, have an accountant who
reviews my calculations, blesses them AND keeps me informed as to
other regulations, requirements, opportunities, etc.
So, instead of trying to get by "on the cheap", I push some dollars his
way, each year, to TELL me what I need to know, lest some unforeseen
surprise catch me (and lead to more "busywork")
E.g., I often did business in other states.  Yet, my physical presence
never changed.  So, when those other states would have *liked* to tax
my income from THEIR sources, it was nice to be able to cite this
"I never set foot in your state" qualification to render their
desires, moot.
In one state, my fees were subject to "sales tax" (every state has
a different name for it).  Fine, being aware of that ahead of time
means I just tack that on to my invoices -- lest *I* have to pay
it out of my income *and* to give the client a declaration of
taxes that *he* has paid, to me.
But, BEFORE operating in that state, I had to *fund* and show evidence
of a bank account THEREIN (what consequences, that?) that would act to
hold the sales taxes collected on business done, there.
In most states, "mail order" purchases were only required to collect
sales tax from your purchase *if* they had a business presence in
the state to which the merchandise was delivered (I think this has changed
and many etail businesses probably collect "local taxes" regardless).
However, in those states, it is often a requirement that YOU report
any purchases for which you have NOT paid sales tax and voluntarily
remit those monies to the state.  (Not doing so is called tax evasion)
OTOH, often, only state and county governments had such requirements;
*city* governments (who can also impose sales taxes) did not.  So,
you could remit to the state and county and end up saving on the city!
It's nice (essential?) to know about these things before you get bit
by them!