Re: Auto limited when reaching $2500 Quote:
Originally Posted by RosieTosie In reality however anyone's chances of selling enough to even start to pay tax on their income from it is increasingly remote and getting more remote every day! | I wouldn't necessarily say that... It all depends on what you sell.
But I understand what you are saying. The average profit on $20,000 in sales is about $2,000 (figured at 10%, profits average 7% - 12% according to experts) and if that were your ONLY income, then yes, you would not be earning enough to pay taxes on it.
Many people earn money on eBay part-time though, and some of us have a full time income from selling on eBay and other sites.
I just wish eBay was the same way it was back in 1985. The money was UNBELIEVABLE! Back then, just about EVERYTHING sold and for a good price. But it is much more competitive now and eBay diluted categories to such an extent that there are not as many eyeballs looking at your items. So, sales are fewer and less profitable, GENERALLY SPEAKING. I use that term because, again, it all depends on WHAT you are selling.
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