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Buying and Selling on eBay: Tips, Tricks, Problems & Questions - Page 394

post #5896 of 15839
Under business advertising: "world finest luxury". That's a no brainer :P
post #5897 of 15839
Quote:
Originally Posted by marc roberto View Post

So how was the Ferrari a business expense? devil.gif

The advertising value alone of the Ferrari as a symbol of his success in the thrift business! Think of the non styleforum people who tracked down his store or decided to consign their stuff because of his success demonstrated by being able to thrift the Ferrari.
post #5898 of 15839

Hi All,

 

I'm very new to selling on ebay and this thread has been a great source of information for me. I'd greatly appreciate if you could tell me if I'm doing something terribly wrong in this listing:

 

http://www.ebay.com/itm/231071216268?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

 

Thanks!

post #5899 of 15839
Quote:
Originally Posted by Reosymes View Post
 

Hi All,

 

I'm very new to selling on ebay and this thread has been a great source of information for me. I'd greatly appreciate if you could tell me if I'm doing something terribly wrong in this listing:

 

http://www.ebay.com/itm/231071216268?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

 

Thanks!

Nice jacket! I would personally be a little less wordy. I don't think saying that it will need pressing is required, as buyers wouldn't (or at least shouldn't) expect you ship in a giant box that doesn't require the jacket to be folded. I think it just puts another cost into their head. I also wouldn't say that there are things you might have missed. To me that can translate to either a) I might try to slip a minor imperfection passed you or b) I really didn't inspect it as thoroughly as I said. Just my $0.02.

post #5900 of 15839
Quote:
Originally Posted by MJMcRibb View Post
 

Nice jacket! I would personally be a little less wordy. I don't think saying that it will need pressing is required, as buyers wouldn't (or at least shouldn't) expect you ship in a giant box that doesn't require the jacket to be folded. I think it just puts another cost into their head. I also wouldn't say that there are things you might have missed. To me that can translate to either a) I might try to slip a minor imperfection passed you or b) I really didn't inspect it as thoroughly as I said. Just my $0.02.

Thanks for the feedback. The reason for being too 'wordy' is that I'm a new seller, thus undertake the risk of people returning the item knowing that ebay will side with them. I guess I'm covering my ass, which does sound defensive.

post #5901 of 15839
Mama didnt raise no fool.
post #5902 of 15839
Quote:
Originally Posted by Brianpore View Post
 

I don't have a business set up, but I pay taxes. You should get a 1099 from paypal (if you are not a business it goes under you SSN) and just add it to your income. Keep a list of any expensive and submit that as well to your accountant.... at least that's what I do.

 

This.

 

Though you'll want to do yourself a favor and make it as easy as possible. The last thing you want to do is spend a couple days at tax time sorting receipts. So, first, get a PayPal debit or credit card attached to your account, and use it to pay for everything related to your thrifting activities. Then, subscribe to Outright (or Go-Daddy bookkeeping, as I think it's now called). Outright organizes all your expenses into categories, and automatically generates a schedule C for you at the end of the year. Then just hand the schedule C to your accountant, and you're good to go. You'll just need to check Outright every so often to organize your expenses, but it learns your vendors over time, so that gets easier as you go. Outright used to be free, but now it's $50 per year. Well worth the expense.

 

Oh, and one more thing. Make sure you stash some of the scratch in a savings account so you don't end up short on your tax bill at the end of the year. Outright is also helpful for reminding you to make quarterly tax payments.


Edited by Acme - 10/11/13 at 8:55pm
post #5903 of 15839
Quote:
Originally Posted by Reosymes View Post
 

Thanks for the feedback. The reason for being too 'wordy' is that I'm a new seller, thus undertake the risk of people returning the item knowing that ebay will side with them. I guess I'm covering my ass, which does sound defensive.

 

Covering your own ass in that way may have the reverse effect though. With that said, capnwes has almost identical wording on the dry-cleaning bit, and he's doing mighty fine on ebay.

post #5904 of 15839
Quote:
Originally Posted by Reosymes View Post
 

Thanks for the feedback. The reason for being too 'wordy' is that I'm a new seller, thus undertake the risk of people returning the item knowing that ebay will side with them. I guess I'm covering my ass, which does sound defensive.

Also, there's one picture in the middle that looks like a completely different jacket. Get rid of that one.

post #5905 of 15839

What is the 33 viewers on his listing? When did they start that? Last I saw they had number of watchers, but now number of viewers?

 

 

post #5906 of 15839
Quote:
Originally Posted by JabbaTheSlut View Post

For those of you that are actually a legit business, what types of things are you actually able to write off? I'm thinking that I need to register this as an official business because to pay taxes and save my ass if I ever got audited, but I'm worried about losing a few grand to taxes and only getting like $100 back in write-offs.

 

Get an old copy of TurboTax Home and Bussiness 2012 or create an account online @ turbotax.com . Fill in 2012 tax information and hypothetical business deductions you might incur . You will get a precise idea about how deductions will effect your refund.

 

Quote:
Originally Posted by capnwes View Post
 

FTFY. You cannot deduct your Mortgage (I wish), but you can deduct the Interest.

 

Yes, I cant wait to get back 40 cents on the dollar . :brick:

 

 

Quote:

Edited by chiron - 10/11/13 at 9:35pm
post #5907 of 15839
Quote:
Originally Posted by Reosymes View Post
 

Hi All,

 

I'm very new to selling on ebay and this thread has been a great source of information for me. I'd greatly appreciate if you could tell me if I'm doing something terribly wrong in this listing:

 

http://www.ebay.com/itm/231071216268?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

 

Thanks!

 

 

Your listing info looks great but the pics are so so . Before investing in a new camera , lighting or anything else . I would recommend you list with a consignor for the "Holiday" season to get some sales and build your thrifting skills. They might not want to list everything you have but will list the SC you listed . You will pay a commission but will not have to worry about pictures (staging) , pricing or shipping. As a new seller these three areas will be your weakest . After a few months If you find that it is worth your money to invest in a lighting , camera ect... then go ahead.

post #5908 of 15839
Quote:
Originally Posted by Reosymes View Post
 

Hi All,

 

I'm very new to selling on ebay and this thread has been a great source of information for me. I'd greatly appreciate if you could tell me if I'm doing something terribly wrong in this listing:

 

http://www.ebay.com/itm/231071216268?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

 

Thanks!

Pockets still basted shut? And you still have the original tag showing in the eighth picture?

 

Is there any reason you don't list that as new with tag instead of pre-owned? If so, it'll sell for more money, and probably quicker too.

post #5909 of 15839
Quote:
Originally Posted by Acme View Post
 
Quote:
Originally Posted by Reosymes View Post
 

Hi All,

 

I'm very new to selling on ebay and this thread has been a great source of information for me. I'd greatly appreciate if you could tell me if I'm doing something terribly wrong in this listing:

 

http://www.ebay.com/itm/231071216268?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

 

Thanks!

Pockets still basted shut? And you still have the original tag showing in the eighth picture?

 

Is there any reason you don't list that as new with tag instead of pre-owned? If so, it'll sell for more money, and probably quicker too.

I always keep my suit pockets basted (as I never use them) and have the tags in a box, does that mean in 5 years when I go and sell my suit I can call it NWOT? :puzzled: The jacket does look like it could be new for a number of reasons but I'm just saying, those two things dont make it new...

post #5910 of 15839
Quote:
Originally Posted by Acme View Post



Personally, I probably wouldn't bother with taxes on eBay income unless I sold enough to get a 1099 from Paypal (you have to have more than 200 sales AND $20,000 in revenue).



If you receive $18000 from ebay, of which $9000 is profit, you would not report the $9000 as income?

There are a lot of non-business-savvy types who read this thread and rely upon it for advice. All of you should note that the advice from Acme above is tax evasion (aka tax fraud), which is a criminal offense in the US. That is a gamble that I would advise you not to take.

This stuff is not rocket science. Take a look at the 1040 Schedule C to get an idea of how it works. This is a schedule which attaches to your form 1040 (aka tax return). The schedule C is for a sole proprietorship, which is the business entity which you have by default chosen if you have not formed another entity (corporation, LLC).

http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
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