Selling a product on a website

[SlipknotX556]

If I were to create a .com website, sell a product on it, would that become a source of income, then have to pay taxes on it?

I would like to create a website and sell my headbands and along with some other things on it, but if I have to pay taxes on the income, I dont want to do it.

Thanks for the help.

[bornl33t]

you would have to create a buisness and register it. Yes you would have to pay taxes.

[RRfireblade]

You have to pay/file or declare ALL income you receive regardless of where it comes from.Whether or not you pay taxes on it depends on how you file and how much income you had overall.

Doesn't everybody else claim everything they make? :)

[shartley]

You have to pay/file or declare ALL income you receive regardless of where it comes from.Whether or not you pay taxes on it depends on how you file and how much income you had overall.

[Albinonewt]

You have to declare the income BUT you can write expenses off against it. Just be carefull not to show a loss too many years in a row, otherwise the IRS can classify the business as a hobby and you won't be able to deduct expenses anymore.

[_tMAN]

I believe you have to have at least 3 years of losing profits for the IRS to declare you a hobby.