Personal Finance and Investing

getagrip_already

(17,595 posts)

3. I think you are confusing ss with the irs....

Sat Nov 23, 2024, 02:03 PM

Nov 23

To the ssa, if you have elected to receive ss payments early, any income earned up to your full retirement age (around 67 depending on birthdate), can reduce your social security payouts. If you started collecting ss after full retirement age, it doesnt matter.

Thats is irrelevant to the irs and state dor however. To them, everything you make is income. Even if you are selling things you have owned for 50 years. They probably want records of sales as a retailer. Your age isnt going to get you a free pass to no taxes

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Marthe48

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Highlight:

The manager of the vintage mall just sent email that LLCs need to submit a BOI [View all] Marthe48 Nov 23 OP

If you aren't an LLC then you shouldn't need one FBaggins Nov 23 #1

I talked to another vendor awhile back Marthe48 Nov 23 #6

Required report to the fed dept of treasury IbogaProject Nov 23 #2

I think you are confusing ss with the irs.... getagrip_already Nov 23 #3

After my husband passed away Marthe48 Nov 23 #8

Just fyi, you always need to file a return.... getagrip_already Nov 23 #12

I have no idea, and I'm sure you already googled for "boi." But I found FinCEN's website. Beartracks Nov 23 #4

Yeah, I learned about this the Friday before the election Mike 03 Nov 23 #5

Thanks for explaining it so well Marthe48 Nov 23 #7

Maybe your booth is governed by less Mike 03 Nov 23 #9

I thought the wording in fincen seemed reassuring Marthe48 Nov 23 #10

One last thing that might set peoples minds at ease: Mike 03 Nov 23 #11