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03/06/2017 at 12:14 pm in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13912
Thanks, Terri!
03/06/2017 at 12:13 pm in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13911In the eyes of the government, I made no money on eBay/online sales last year.
Here’s how I did it:
Sales (as reported on my 1099 from PayPal) – COGS – eBay/other site fees – 25% of my mortgage (my eBay room + storage is approximately 25% of my sq footage) – monthly car payment (couldn’t source without the car) – mileage – gas & tolls – internet service – cell phone plan – office supplies like boxes/mailers/tape/bubble/peanuts.For me, that all equaled out to zero profit. Technically, I did make profit since things like my mortgage, car payment, internet, phone would all be something that I had anyway – but this way I can expense it.
It’s the same exact thing that our large corporations do in America, albeit on a much smaller scale.
03/06/2017 at 9:59 am in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13890We had good luck with taxes this year – our accountant just did them over the weekend. Basically, my expenses zeroed out all of my eBay sales so there was a net zero effect on our taxes, which is awesome. Since I don’t do this full time, I just list the sales as 1099 income and use GoDaddy Bookkeeping Schedule C to track expenses, attaching to mine & my wife’s joint tax submission. If one day it becomes a burden on our joint return, I’ll detach it but I think we’re some time away from that.
03/06/2017 at 9:35 am in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13889Paul, check out the cache of records I just picked up this weekend from a private collector… the 73 most recently listed were all from the same guy on Saturday.
03/06/2017 at 9:33 am in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13887Incredible sales, especially with a “real” job. I do eBay/Bonanza/Amazon on the side of my “real” job and couldn’t imagine doing this volume. Do you have someone helping? What kinds of things are you selling (I assume easy to pack with this volume)?
03/06/2017 at 8:44 am in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13883Ha! This is only like the 3rd video I’ve ever posted on YT (the other 2 were for listings) and didn’t even know where all the settings were. Changed to “education”.
Anyway, yeah, we’re super pleased with the way it turned out, just still can’t believe the contractor situation.
Anyone need to flip a shower cartridge?!?!? I’m now an expert!
03/06/2017 at 7:16 am in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13871Thanks! As you can see, his work is so good and we’ve used him in the past and reco’d him to at least 6 people in the area. Just a shame for whatever reason he flaked on the end of this project. We have a second bathroom we were going to do later this year that he lost out on – all over a project that took us a half hour to do after watching a YT video. He could have done it in 5 minutes and had more jobs waiting for him.
03/05/2017 at 8:22 pm in reply to: Scavenger Life Episode 300: Our 300th Episode!! Now let’s talk taxes… #13852Congrats on 300!!! I started listening on like episode 4 or 5 when you were still “eBay Scavengers”. Time flies!!
Store Week 2/26/17 – 3/4/17
Total items in store: 867
Items sold: 12 (2 Bonanza)
Cost of items sold: $43
Total sales: $388.47
Highest price sold: $75 (estate tobacco pipe)
Average price sold: $32.37
International Sales: 2
Returns: 0
Money spent on new inventory this week: $325
New listings: 75Had a ridiculous days sourcing on Saturday. I found a guy on CL trying to sell his own personal record collection. He had 100+ listed and it was all great stuff. I emailed him and asked if I could come over and cherry pick through the collection. He allowed me to and I was the first one in and got 73 records from him – Beatles, Stones, Dead, The Who, and so much more. I usually only like to pay a buck or two max for records, but this was a cache to good to pass up – paid $325 for the 73 albums ($4.45 each) but already listed them all today for a bit aggressive total $2300. I’ll probably take 25% off offers as they come in which would still give me over $1700.
Other big news is that I finally took a little video of our new master suite/bathroom. The work was done the second week of January, but there were some problems and we were in a fight with our contractor. One of the problems was that the cold water was hot and the hot water was cold. Our contractor stopped answering our calls and everything, so we ended up just watching a Youtube video of it and it was quite easy to fix. Anyway, enjoy!
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This reply was modified 4 years, 6 months ago by
Brian Treasures from Grandmas.
03/02/2017 at 2:19 pm in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13693Killer sales! You know I love cassettes, so to see a grouping of used ones go for so much is exciting.
That Halloween mask going to Tiffany – I’ve never seen them use anything like that in a display or window, doesn’t seem to be “on brand”. Maybe it is simply for an employee?
03/02/2017 at 8:58 am in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13679Wheeling in the house! My family is from the greater Pittsburgh area – from Monroeville on the east all the way to Steubenville on the west. My parents grew up in Weirton, just north of you. I remember going to Wheeling as a kid for the Christmas light festival. It was always a treat.
Anyway, amazing amazing sales! Love the trench are bracelet and that silk book is something like I’ve never seen (or at least noticed).
03/02/2017 at 8:55 am in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13678Sheldon! Great to have you back. I guess it’s a good thing we didn’t hear from you cause that meant business was boomin’! Can’t wait to catch up on your videos.
03/02/2017 at 8:54 am in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13677When my wife & I got married, we bought a place on 5th & Willow – so yes, a small apt within one of those row houses. About 18 months ago we sold and bought a newer condo in Hoboken – bigger, but definitely still not a ton of storage space.
03/01/2017 at 6:48 pm in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13665Hey neighbor – I’m like 45 mins north of you in Hoboken!
That Italian bowl is gorgeous!
03/01/2017 at 4:03 pm in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13651Whew, ok. I thought I was going crazy. (you can delete the duplicate post if you want) 🙂
03/01/2017 at 3:08 pm in reply to: What Sells On eBay: Organ parts, trucker wallet, video monitors, 70's flip date, hurricane lamp, amps, turntable #13643$80 for that stylus, amazing. I really need to get into parting out old electronic gear… I pass them up all the time because of lack of space.
Some of my interesting sales over the past 7 days:
(20) c1968 NFL Stickers
http://www.ebay.com/itm/192114607876
These only took 1 day to sell. Found them randomly on Saturday at an estate sale of a collector/borderline hoarder. At least their collection was very nicely displayed, albeit on every inch of their house walls, ceiling, every flat surface, and more. They were just sitting there on a dresser, maybe they were in a drawer. I could date them by the logos, colors, and that the helmets only had one face mask bar – by 1970, the NFL required helmet logos to have 2 bars on the face masks. I could have sold for $5-$10 each if I parted them out, but decided to go with the lot route. Bought the whole stack for $1, sold for $50.Wooden 6 Tobacco Pipe Stand & Humidor
http://www.ebay.com/itm/201424543286
I’ve had this for a while. Even had it on 50% off sales before. But it finally sold for full price, $99.99. I think I bought it for like $10-$15.TDK Napa Valley Box Company Cassette Storage
http://www.ebay.com/itm/201825547266
Got this when I bought a lot grouping of cassettes. Looked it up and found it was worth something on it’s own. Apparently any of the cassette/cd/vhs racks made by Napa Valley in CA is good to pick up. Sold within 2-3 days for $25.US Army 4 Star General Wool Flag
http://www.ebay.com/itm/201628466816
Didn’t make as much as expected on this, sold for $130 after buying for $55 at the estate sale of the longtime secretary of the 9th Infantry Division Association. He lived in Weehawken, right next to me in Hoboken, NJ. At the same sale, bought this, a one star general flag, a flag from the Philadelphia Quartermasters, and also a bunch of memorabilia from the Association.-
This reply was modified 4 years, 6 months ago by
Brian Treasures from Grandmas.
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This reply was modified 4 years, 6 months ago by
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