jlgrove wrote:..ok all you tax guys out there, (Ralph, rebel, Jimmyd, etc)....give those of us that do a considerable amount of ebay sales, words of wisdom on the accounting/responsiblity of processing our taxes.....especially how we account for costs when selling off personal items, of which I have done many during 2011....any thoughts would be well recieved....
gnatshop wrote:My #1 long time strategy - You make your choices and take your chances!
I've never reported any of my eBay sales, but then I was not registered anywhere as
a business. And I haven't done large amounts of sales - the biggest was several years
ago when I was selling custom zippos with car emblems - about $8,000 Gross.
Net profit would have been less than 50% of that.
Or #2 - follow the fourth monkey's lead - my favorite:
OK, Ralph, it's time for you to pitch in here - wait, maybe it's better if you send Jeff
a private message instead of posting it on a public forum!
gnatshop wrote:I DID NOT mess around with that gummint!!!
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