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

Discussion in 'Classic Menswear' started by HansderHund, Jul 27, 2012.

  1. Steve Smith

    Steve Smith Senior member

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    I keep a notebook in the car and use the odometer. But you usually will be making the same trip repeatedly so it becomes easier.
     


  2. Steve Smith

    Steve Smith Senior member

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    Recognizing that none of us has been retained as your accountant or your lawyer, the only thing I'd add is that it's my understanding that at some point these deductions phase out. Above a certain income level, you can deduct these things but it only counts for carry-forward losses, and doesn't actually reduce the amount of tax you owe in that year.

    Expenses within your thrifting business will be on Schedule C and will reduce your profit on the business. These are expenses, not deductions and there is no phase out of expenses. Your bottom line profit from your business will go to line 12 of your 1040 form, along with your other income.

    And if you made a profit, then there is always Schedule SE to work on.
     


  3. GMMcL

    GMMcL Senior member

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    Buyer of a RLPL shirt asked why it came without collar stays.

    :foo:
     


  4. Brianpore

    Brianpore B&S (BS) ambassador-in-chief

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  5. capnwes

    capnwes Senior member

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    Phew. Just finished my taxes. Was prepared to owe about $6k.

    Somehow forgot that I had increased my tax withholding on my "real" job paycheck. Add to that, I quadrupled the size of my home office and took better track of my spending and mileage with the use of outright......and

    Turns out i only owe about $150! Feels like I just got paid $5850.
     


  6. FaceOfBoh

    FaceOfBoh Senior member

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    I remember doing taxes on the paper form. It was like a roller coaster: the numbers go up, up, up, then down then up then down again, then through a loop. I always needed Immodium as it went into the home stretch.
     


  7. Brianpore

    Brianpore B&S (BS) ambassador-in-chief

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  8. GMMcL

    GMMcL Senior member

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    BTW, dudes, I was talking a few days ago to my wife's uncle, who has a bunch of years in the USPS, including the "lost packages" division. He recommended that I include a copy of the shipping label inside the package, just in case the outside one gets too mangled or ripped off. He said they would do everything they could to discern either the destination or return address first from what they can find on the outside. Failing that, if they can tell there's a second copy inside -- they won't open a compromised package unless it's already been ripped open -- they will check that and use it to get it to its destination. So I've been printing and packing a second copy of the shipping label inside the package.
     


  9. SpooPoker

    SpooPoker Internet Bigtimer and Most Popular Man on Campus Dubiously Honored Affiliate Vendor

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    That is a fucking awesome feeling man! Congrats.



    FWIW, Ive shipped like 10,000 packages and they lost like, three. Im good on those odds. (watch me lose a package this week)
     


  10. ruben

    ruben Senior member

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    A buyer messaged me saying he hasn't got his package yet. USPS tracking shows it as being delivered two weeks ago.

    He seems genuine and trustworthy and everything, but I kinda feel like he should contact USPS before I issue him a refund, is this a seller faux pas?
     


  11. capnwes

    capnwes Senior member

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    A. It definitely feels great....but makes me skeptical too. I will be double/triple checking this week.
    B. In 8 years, I never had a lost package until this year...I have had 4 missing parcels since January. [​IMG] I blame it on all the recent USPS changes and cut backs.
    • First was a return to me from a SF member....no biggie. It went out for delivery to my house a month ago and apparently didn't survive the 2 block ride from the P.O. to my front door.
    • Second was a HF Loro Piana Suit, sold for $180. Went to an apartment complex with one of those mailbox banks. Someone else must have grabbed it. The apartment management company refunded the guy his money!!! [​IMG]
    • Third package still currently lost in Russia somewhere.
    • Fourth was my Brioni SC. Sold for $280, notice was left, guy didn't get the notice. He went to the P.O. and package wasn't there. I called the P.O., package isn't there. They have no clue. Still a couple days before I can open the insurance claim. Should be covered with no problems.

    That is a completely reasonable request. Many times, the carrier will remember dropping it off, especially if they are not usually receiving packages. Ask them if they live in a community with a bank of mail boxes. Sometimes the packages get put in a large package section and the mail carrier forgets to put the key in the recipients normal mail slot. This has happened with my packages a few times.
     
    Last edited: Mar 25, 2013


  12. suited

    suited Senior member

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    I just started using outright and entered all of my COGS for Jan-March. Considering that it's free, it's going to be a lot easier come tax time. I think the easiest way to do it is waiting till the item sells, copy the item description from the income section, then add it to COGS by pasting it into the expense section (so the names match identically). It's my understanding that, for tax purposes, you recognize the cost of the item when the item sells, not when the cost is incurred by you.
     
    Last edited: Mar 25, 2013


  13. Acme

    Acme Well-Known Member

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    No. If the carrier shows it as delivered, you did your job properly. I'm not sure I'd even issue a refund in that situation.
     


  14. gambit50

    gambit50 Senior member

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    I know this might be a stretch but I could not resist asking after seeing 'lost package' division, etc.
    Have a package coming into USA from overseas. USPS had it, last tracking was 3/14, processing in a sort facility and I think going out. Nothing since. Also,
    it was 'missent' right before that, 3/12. Any advice from your uncle, wise in the dark arts of USPS package relocation, or whomever?

    They have totally passed the buck telling me the sender must issue a notice on his end so they will do something. Obviously, them having noted nothing for 2 weeks is not a valid enough
    reason to make an effort on their end.
    That makes zero sense but is not completely surprising.

    Any advice appreciated.
     


  15. concealed

    concealed Senior member

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    Because the prices will go higher due to more exposure.

    I have used the GSP at least 20 times now and I am fine with it. If someone doesn't want to purchase because they have to pay true customs charges, so be it.

    I know others will disagree and I have made my peace with that.
     


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