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Buying and Selling on eBay: Tips, Tricks, Problems & Questions - Page 1640

post #24586 of 30441
Quote:
Originally Posted by capnwes View Post

For me.....As a preliminary measure, I typically take 10% off the top of my weekly gross sales and put that in a separate account that is reserved for my quarterly tax payments. It usually works out fairly close once the income, expenses and deductions are all tabulated. 

Jeez, how much does PA take??

Here, I only owe the state 3.9% on sales within CO.
post #24587 of 30441
Quote:
Originally Posted by Fueco View Post


Jeez, how much does PA take??

Here, I only owe the state 3.9% on sales within CO.

PA takes 3.07%

 

But my 10% off the top covers the Fed, State and Local quarterlies, or at least gets me close enough.

post #24588 of 30441
Quote:
Originally Posted by capnwes View Post

PA takes 3.07%

But my 10% off the top covers the Fed, State and Local quarterlies, or at least gets me close enough.

How much do you need to bring in before they ask for quarterly payments? I haven't hit that yet. But I'm also only pulling in about 1/3 of the total family income.
post #24589 of 30441

They don't ask for quarterly payments, they expect you to do it on your own if you meet the requirement.

 

I believe it is, you need to pay quarterlies if you are going to owe $1000 or more in taxes on April 15th. I'm not 100% sure on the amount, I just know I have to pay them. Someone else here will know the specifics better than I do.

 

When I was still working a regular 9-5 job and doing ebay at night, I just had my employer withhold an extra $200 or so a week to cover it. I only had to start paying quarterlies last year. Since I had no withholdings coming from any other employment.

post #24590 of 30441
Quote:
Originally Posted by Fueco View Post


Jeez, how much does PA take??

Here, I only owe the state 3.9% on sales within CO.

Colorado income tax is 4.63%

post #24591 of 30441
Quote:
Originally Posted by capnwes View Post
 

I believe it is, you need to pay quarterlies if you are going to owe $1000 or more in taxes on April 15th. I'm not 100% sure on the amount, I just know I have to pay them. Someone else here will know the specifics better than I do.

 

Assuming filing as a sole proprietor/individual, which I would think most on here would, yes. Threshold is lower for a Corp

post #24592 of 30441
Quote:
Originally Posted by TheNeedMachine View Post
 

 

Coin operated dry cleaning?  Never heard of such an animal - was that next to the Automat in Times Square back in the 50's?

 

 

Well the buyer is continuing.   I asked him if the sleeves were the problem and he said 

 

"Yes. The sleeves have obviously been altered. They come up to mid forearm on me and I'm a classic 41L.
Please advise." 

 

I'm not sure what to do here.  I listed the sleeve measurement (23.5") and that is pretty short.  But, I had it in the listing.  I even noted that there was extra material to lengthen the sleeve if necessary.   I responded to him that the listing specifically provided the sleeve measurement.   

 

He responded: 

 

"The measurements listed are not correct. I want my money back. Please advise. Respectfully, Tim"

 

 

I have not responded yet.  But, the measurements are correct. He just didn't read it.  

 

post #24593 of 30441
Quote:
Originally Posted by My Main Man View Post
 

What percentage does everyone put aside to pay for taxes? I've been keeping approx 30% of my profit to pay, but I'm starting to get worried that it's not enough. I've sold way more this year than previous years plus my full time job. I'm getting kind of anxious that I'm putting myself into a new tax bracket I can't afford. 

 

 

Quote:
Originally Posted by drlivingston View Post
 

 

Dogs are nice. However, deductions are truly man's best friend. Make sure that you are claiming all that you can. It can make a significant difference.

 

I just did my taxes last month because I had gotten an extension.   If you are having to set aside that much, then in my opinion you are keeping track of all your expenses.

 

Deductions include:

 

Cost of goods sold, any shipping supplies or materials, anything you had to do improve the items to sell them (dry cleaning, repairs, shoe polish), shipping cost, ebay fees, pay pal fees, and MILEAGE.   Remember mileage to each store/sale counts, mileage to buy shipping supplies, mileage to post office, if you go out of town for buying stuff, etc.  

 

PLUS, don't forget your cell phone (whatever portion you use for business),  Internet, etc.   If you don't have a home office, GET ONE.  You can deduct the cost of everything (rent/mortgage, utilities, taxes, insurance, trash, etc) based on the percentage of your home/dwelling/apt that is used for the home office.   For example, in a 1500 sq ft. space if you use 500 sq. ft for home office (and storage of your stuff counts), then you take 1/3 of all the bills.  

post #24594 of 30441
Quote:
Originally Posted by concealed View Post
 

Colorado income tax is 4.63%

 

 

I was a bit tired before 7:00 AM this morning. I was thinking about sales tax.

 

Our tax people will handle the hassle, and will let me know when they do the taxes if I should file quarterly next year. 

post #24595 of 30441
Quote:
Originally Posted by Fueco View Post
 

 

 

I was a bit tired before 7:00 AM this morning. I was thinking about sales tax.

 

Our tax people will handle the hassle, and will let me know when they do the taxes if I should file quarterly next year. 

Oh, sales tax.

 

Well, fortunately for sales within PA, I typically do not have to pay sales tax, but that's only because there is no sales tax on clothing here.

 

Loving that loophole.

post #24596 of 30441
Quote:
Originally Posted by bpk1 View Post

This aught to be fun... buyer from Australia clearly threatening negative feedback - claiming I faked a BB jacket...



Honestly kind of surprised as he has over 500 positive feedback... Said I used fake photos, and that I labeled it Brooks Brothers myself LOL. Also says the size is wrong, when the pictures from the auction clearly show the marked size per BB. Any suggestions on how to deal with this sort of childish behavior?

Link to sold auction below...
http://www.ebay.com/itm/Vintage-BROOKS-BROTHERS-Faux-Fur-Collar-Lined-Leather-Trench-Coat-Jacket-44-USA-/231727991052?ssPageName=ADME:X:AAQ:US:1123

 

Where did he threaten negative feedback?

post #24597 of 30441

If one retook photos and uploaded it and chose to use the new one as the "cover" photo, ebay doesn't update the listing??

post #24598 of 30441
Quote:
Originally Posted by drlivingston View Post

Where did he threaten negative feedback?

Guess it wasn't directly enough for eBay. Would imagine it's safe to assume that someone who's calling me a fraud, saying I put on a label myself while using fake photos, isn't going to be leaving positive feedback.
post #24599 of 30441
Quote:
Originally Posted by ertu View Post
 

 

Assuming the seller is legit, how can a seller prevent fraud like this? It seems pretty easy for any eBayer to do this switch and get away with it.

 

Any advice on this? Otherwise it would be quite widespread and problematic.

post #24600 of 30441
Quote:
Originally Posted by borbor View Post

If one retook photos and uploaded it and chose to use the new one as the "cover" photo, ebay doesn't update the listing??

They do but it takes a long time for them to do it. I've seen it take a day or two, and had some that never updated.
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