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Posts by capnwes

Technically, Cost of goods sold only becomes deductible once the item is sold.
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Love it the way it is, hopefully love it more after..... 
You should be keeping a record of everything you spend and all the money you receive. 
You just keep waiting. The buyer technically only has 5-6 days to return the item after initiation. If it still only shows "Return Started" , after about a 5 weeks it will roll off and close automatically. 
Insane...I think JC would be very proud.
How will you prove you what you paid for the item in the event of an audit.
Any income is taxable and should be claimed on your taxes. You will receive a 1099 from Paypal if you break the 200 item/$20K barrier, but unfortunately that does not relieve you from keeping good records and reporting any income below that amount.
Yes, Paypal fees are additional fees, don't forget insertion fees if you had any.
I am so close to being a billionaire right now it's not funny. Everything is correct except the damn shoulders and BOC.
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