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<Jay>
I think there is a sweet spot for everyone depending on their inventory they are trying to sell. Too low of a price means you could be selling lots of volume but not getting the best return on each item. Too high means you have the best return on each item but miss many sales. I am at the spot where if I raise prices by much I risk missing out on a lot of sales which would ultimately hurt my gross sales month by month. So yes, the kind of inventory I’m able to source based on my sourcing locations means I need to price to a certain average sales price in order to maximize my monthly gross sales.Cool, I was thinking I read something about programs like that.
Anyone know (J&R ?) how much tax you pay additional if you pay your employee $100 a week. I read where it doesn’t really benefit you or the employee much by paying under the table. Is this true? If so, how true is it? To be clear, I’m asking how much do you have to pay the IRS if you pay an employee $400 a month and 10 hours a week. I hear things on the net like “can you afford an employee”. Well I can answer that question if I know how much extra the tax liability is. Possibly it balances out to near 0 based on the amount you can write off?• Total Items in Store: 700
• Items Sold: 65
• Total Sales $1,506
• Average Price Sold: $23.17Very good week. Could have been a record week but Fri and Saturday were less than average. Sometime, I will have to get an employee. If I were to be sick or want to go on vacation, I am tied down except for weekends where I don’t ship until Monday. Anyone have rules they abide by for their business concerning employees? What percent of your overall net profit should be spent on an employee for instance? Are you only paying in cash for a 10 hour a week employee and do you report it to the IRS? What levels of security exist for your admin abilities over your eBay account? Eventually, you will want your employee to list, take pictures, price, and some day even source (that way you can just sit back and do nothing, haha jk). You get to a certain point I think where you hit a plateau and more man hours is the key way to get over that. Employing someone for the first time is the topic I need to research on. Feel free to give advice or post links.
