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Another question about taxes. I got the 1099 printed out. That is gross sales and shipping, right?
So, I want to know the actual things I need to give the tax preparer and make this as simple as possible:
1. 1099 from Paypal
2. Total of monthly invoices I paid eBay.
3. What about fees paid to Paypal, which aren’t included in monthly eBay invoice, right? Is that 3% or whatever that I need to figure out?
3. All other business costs for the year
4. Partial write-offs like cell phone bill, etc.Is this right? Is there anything else?
First time posting my numbers:
Total items in store: 2,287
Sold: 25
Total Sales: 455.35
Highest price sold: 39.95 for four sets of Cambria finials NIP
Ave. price per item: 18.21
Cost of goods sold: ~50
Returns: 0
New listings: 48
Spent on new inventory: 36My husband gave me two pairs of his Dickies work pants to list and those sold for $35, so that was basically a freebie. Have sold a bunch of his old, holey, stained Carhartts too:)
Seems like the wider one is a tooling milling lathe cutter bit. Thanks for the suggestions!
I see this one up on auction, maybe not exactly the same but pretty close. I wonder if that would be a good thing to grab,…if the price stays low?
http://www.ebay.com/itm/PA-PENNSYLVANIA-GAME-COMMISSION-1982-OSPREY-DECAL-PATCH-WTFW-SERIES/192142780057?_trksid=p2047675.c100011.m1850&_trkparms=aid%3D222007%26algo%3DSIC.MBE%26ao%3D1%26asc%3D40130%26meid%3D7c14f9a937b747e4b42c60017f9a620b%26pid%3D100011%26rk%3D2%26rkt%3D2%26sd%3D232069952995Thanks Ryanne for the video. I had no idea the value of RL stuff or what a ‘Lo Head’ was!
I hadn’t heard of the brand, but then again I probably haven’t heard of lots of brands 🙂
We are planning to enclose our garage and build shelving for eBay storage. Will that be tax deductable?
I don’t recall any scavenger dreams. What does come to mind as I read your dream #2 is that maybe it is good to just get the stuff even though you don’t recognize the marks or names, without taking the time to check on your phone. Take a chance if it looks interesting to you and trust that it’s going to turn out OK, you will be OK either way.
I include the packing slip with a handwritten note, at least at this point, for the personal touch. But it does add to paper and ink costs.
Got the tape, as well as 100 of the 6x4x4 boxes. This size box is REALLY nice, just send off a John Deere toy and it was perfect. Better than the 7x6x6 USPS ones in this case.
Hey Skycam, had fun looking through your sold items. How much do you usually pay for the estate pipes, and does estate mean that you got it at an estate sale or something else? Thanks.
I am currently getting free bubble wrap from a medical lab that I work for, and I plan to ask other businesses in the area.
I just ordered my first eBay tape also, so thanks for the tips. I sure go through a lot of tape!
I normally never make goals for much of anything. The thing that is changing is that I feel better about doing eBay now that I have committed to auto-investing part of the income generated, so it feels more like I am contributing to my husband’s and my future. Feels more like a real, viable business worth making the effort for, in other words. Here is what I came up with just yesterday, as well as an actual list of all the thrift stores I know about, auctions, and locations. Currently at 1,100 items.
PURPOSE OF THIS IS TO LEARN, TO PUT MONEY INTO INVESTING, HAVE MONEY TO DO STUFF, AND FEEL CONFIDENT AS I AM CONTRIBUTING TO OUR PARTNERSHIP
1. VISIT ONE TOWN’S STORES, AT LEAST, PER WEEK.
2. BUILD UP TO 1500 ITEMS BY END OF FEB. AT LATEST
3. GET FAMILIAR WITH NEW PLACES TO FIND ITEMS
4. ASK AROUND FOR FREE BUBBLE WRAP
5. GET CASH BEFORE SHOPPING, DECIDE HOW MUCH I WILL SPEND
6. PASS UP CHEAPER ITEMS, LOOK FOR UNIQUE ITEMS AND LEARN BRANDS
7. SPEND LESS TIME ON RESEARCH, JUST DECIDE HOW MUCH I WANT FOR IT
