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you are my favourite person in the world!!!! i just had an account with a selling limit of 3 increase to 10 and an limit of 10 increased to 100! I've been stuck using the 10 for over a month now haha. So glad you mentioned this. Thanks alot! :)

Nice Job Sandy:clap:

I just added 2 people to the business and might add one more soon...

People say they might try to steal your business. However I am confident that it would take them years to figure out how to get my products, not to mention I have a contact written up that I will get lowest price on products. Basically I provide them with account to sell and I am the supplier of the products. They pay me up front. Yea my cut might be a bit lower, however I do very little work if any at all on those accounts. Its basically just another sorce of income and I provide products different then those I sell. I do not have the time to sell in every area and this will help a lot. Just started few weeks ago so lets see how it goes.

I am leaning more and more towards being a large supplier. Only difference I provide the selling accounts and they supply bank accounts if they don't want to pay a "banking fee"...

/quote

I just added 2 people to the business and might add one more soon...


Nice.

That's a lot of bank accounts sandy , i give you props i freak out with less than xx amount. let alone 100 or 300

2-5item / perday with account unlimit sell !

Lots of work, trying to manage the money coming in and out, transferring to main accounts etc.

Well worth it.

Sandy, you must have clones of yourself to do so much! major props to you.

Whats the need for so many accounts.

I have 1 on amazon that I sell 50 items a day on. I stopped selling on ebay as their fees for what I sell with paypal is 25% which is freaking crazy!

Although my profit is 900% I still dont want to pay 25% to ebay..

I guess just spreading sales.... I dont like them in one basket....

Right, if my 1 account didnt gross as much as it does then maybe but when I had 2 my account was b!tching about it all so I cut back

I just found a good item to sell. I was going to list in bin format. I have a bought 10 items to sell. Should I list them all at the same time. Or wait a day in between each?

Are they high end electronics or even high risk in any way? bearing a brand name at all?

Sandy this is awesome, youre my hero. Do you pay goverment taxes from your profits ? any ways to avoid it ? :)

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.