Forum

Electronics is always risky for new account - especially the large influx of cash when selling. Maybe if you build with small electronics and toss a big one here and there.

Yes I do. I would not avoid any taxes owed.

But--- Expenses brings down your total profit at the year end.

You pay taxes on profit which is what is left after all those expenses.

:thumb:

Hey Sandy,

Could you please tell me a little more about how you file taxes for your eBay business?

This is my first year in business and I have done a significant amount of sales already that I want to get sorted out well before tax season. I have Outright that syncs everything for me and prints off nice reports.

Is going through CPA better or can you file them yourself online? Thanks!

Always make sure you have access to full accountant if after you speak to Sandy, you decide to do some reporting.

They are not high end items. But they are name brand. Isn't everything nowadays?

Hey Sandy congratulation on the business, i was just wondering if you mind to care how you managed to package 200 item in 2 hours that would be pretty cool.

I just pay my sister £200 a week to do the packaging/posting off for me. It feels great to have employed a family member instead of a stranger to do it, and she is happy to help, and sees the cash as a bonus. So she never complains and I do not have to worry about her falling behind.

Since you are new to business you need to find an accountant that you can trust, learn from and on your own learn about expenses, deductions, write offs etc.

Great record keeping is a must. Remember most everything you do in business has an expense to it so you need to keep track and receipts of your expenses for your book keeper.

Even though I could do my own taxes I want a second set of eyes on my stuff to make sure it is 100% correct.

Good luck.

200 items in 2 hours is really nothing.

Bubble wrap and toss into a box or package is very easy.

how much u make a month?

Sandy you got everyone drooling. Myself included :dance:

It's all in the ground work AND in the belief in oneself that the business plan will work.

Or maybe the other way round...

One thing is the priceless info here on the forum.

Where we come here burned by ebay/paypal it's possible to regroup & get back to selling. Often we sell better than we did B4 suspensions.

:thumb:

Interesting.

truuuuuuuuuuuuuuu

That's true. I sell aloootttttt for now than before.
And i stop crying when i lose a account:tears:

Now i move on like :sly: LOL

60 accounts selling the good old vero hehe usually making £8000+ per month from all accounts I'm aiming for 15k soon enough. Pays the bills.

Not to be rude but it is none of your business how much I make overall. I did give an example above for one account so you can figure it out that I am making a nice chunk running no less then 15 accounts right now at one time.

I have already fried a modem switching accounts many times a day. :ranger:

I would never ask you that personal question.

Lets say this, I am selling thousands of items on a variety of accounts per month and I am making a really nice profit.

If anyone tells you a $$ amount they probably are lying as I believe that should be kept to yourself.

Items, number of items etc is different in my opinion.

Hard work does pay off.

I do work many 16 hour or more days and raise kids at the same time.

Some only want to put in a few hours a day and expect huge returns and that is not going to happen.

Many nights you will see me on here at 1-2 am and back on at 7-8 am.

I check in while I am checking accounts and in between running to thrift stores, malls, auctions etc.

I only put in 2-3 hours a day and am making about 600% on every item sold, and it is all just one type that I am selling over and over again for now. But then my sister does all the "hard work" and I do not have a family to raise (I am only 19), so I suppose that things are easier for me.

600%

Awesome!

You already blurbed out in bold about how much you "made" or "make' in a day.

Besides thread was about how many items you sell a day, facepalm.

Glad you picked up on that.

Maybe they need a calculator to figure how much I make a month.

No one day is the same could be more could be less.

So I went into Sandy's house undercover and found her stash! :clap: :hail:

http://i45.tinypic.com/2zye9ug.jpg

http://i45.tinypic.com/3524w49.jpg

Tell me about it! Its 2:30am on Miami Vacation and everyone is sleeping and I am awake. I feel like this will not last forever so I might as well get all out of it I can...

I sure know that feeling Sandy. Going to sleep at 5am and getting up at 7:30am take kids to school and doing it allover again. My only half rest is Saturday from 12:00pm noon to Sunday. Only cause post office is closed one day.

1-5 BIN
2 ebay account

Its just look like paper but has SOME POWER

imagine having all this money.

OMG

You were not allowed to take pictures and you did.

What would anyone do with all this wealth:noidea:

Vacation. What is that?

I do pretty much the same thing, get my only good nights sleep on Saturday night unless we have a family game night and stay up really late.

Damn kids and that PS3 anyway!!!

Wish I was at the beach.

Laugh is on you Mary.

You took pictures of the wrong house.

That happens to be BluntzCASH's house and not mine.

:laugh:

Hey Sandy, apologies if you have already answered this somewhere, but do you have 50+ bank accounts too, or are you cashing out by other means?

I like the idea of having a family member do the packing. My daughter (7) just started her own website. I am having her do her own descriptions and all... Just got her a laptop to work on. Obviously not ebay, however its a great teaching tool.

I will pay my step daughter next year to help with packaging... Till then I am on my own.
Last night it took me nearly 3hrs to do 40 packages. I took my time, but wanted it to be done right. Plus the shipping supplies this time around where horrible. Just ordered 300 envelopes from someone else.

At end of June I am going cross country to help teach someone how to become stealth.... At a nice fee of course.... To them its worth it as they will get back to working online. I get a free paid vacation, a new contact and a new niche product they will share with me...

Actually have over 100 checking, savings, credit unions, online banks etc.
Some with small fees and some with no fees.

Example-

BOA
3 checkings
3 savings

US Bank
3 checking
3 savings

NFCU
3 checking
3 savings

and so on.

I wonder how many checking debit cards Sandy has?

A rubber band holds them together.

I do a lot of transferring to my main bank and use very few debit cards actually.

Nice to sit here online and transfer hundreds of dollars a day without having to leave the house.

Bravo Sandy :clap:

when i'm in "full time" mode it's about 25 items a day, 15 BIN 10 auctions, started moving towards different items and with other stuff going on, closer to 10 a week total, mostly auctions. (but much higher value)

Today was nuts ill tell you that. My phone started buzzing with sales at all hours. This weekend I basically slept 3-4hrs a night and worked the rest...

It will all be worth it by Tomorrow.... Deposits start coming in....

Wow! I knew people made some extra cash on eb, but didn't know it could be SO MUCH!!!! I felt sad and frustrated that my eb account was indefinitely restricted from selling because I wanted to make a few hundred dollars here and there while being in school, but for some of you it's your entire livlihood!! Definitely puts things in perspective for me. My heart goes out to all of you who have been cheated by eb and pp. Keep doing what your doing and let the fight go on!!! :fight:

A damn good livlihood at that. :humble: