A quick tax question for NY/USA.
Say an online shop sends me a 5k check in my name and not under a corporation, to order 300 glass cups.
And I'm sort of the middle man and I will be using 4k that I got to order the 300 cups from the factory in China. That would leave me with 1k profit after all expenses are paid.
Since I'm receiving the money as a sole proprietor, will I be taxed on the 5k or 1k?