Bedford Ramblings
Steve Mills

Are you tracking your eBay and other internet sales expenses, NOW?

Posted Friday, March 25, 2011, at 9:09 AM
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  • Possible tip for preventing an overage...have your spouse open and link their paypal account to any multiple sites you have, such as ioffer, etsy, u-sale, ebid, bonanzle, overstock, etc. And/or have your spouse open an ebay account and split your products between them...example, you expect to sell and collect $22,000 revenue this year, which would put you in the "report" bracket, but if you split the account it then becomes $10,000+ between two separate individuals.

    This is just a thought and not a recommendation or advisement. Always talk to your tax consultant for your best advice. If it is in fact an either/or situation where both qualifications do not need to be met then this tip will only benefit someone who sells large-ticket items in small amount. If you sell motor parts, cars, furniture/antiques, high-end electronics, etc. you can reach $20,000 in fewer than 200 transactions

    -- Posted by shawna.jones on Sat, Mar 26, 2011, at 4:38 PM
  • I sold one travel trailer for some folks and went over $13,000 in one hit, so your suggestions are well taken Shawna.

    Someone may not plan on something like that and forget about keeping good records, then the opportunity comes up and whammo! they are left scrambling for write-offs, so plan ahead.

    -- Posted by stevemills on Sun, Mar 27, 2011, at 3:34 PM
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