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

[suited]

I agree, feel like my spreadsheet is becoming less useful. It was good to see what items were returning what. But now I just need to see an overview of income to outcome. Why do you ask PayPal debit card? About 80% of my purchases come from local Goodwill's and they only take cash or checks there which is insane, and also a unique problem when it comes to keeping track of expenses..

A PP debit card is linked to your go daddy account. It tracks your COGS and other expenses, and prepares your tax information for you.

You can manually enter data into programs like godaddy.

Also, I use godaddy but also a spreadsheet. Others may disagree with me but theoretically you are only supposed to deduct the purchase cost of the items you sold that year. Not the purchase cost of All the unsold items as well. So you still have to track what you sold from year to year and there will be carryover to the next year of unsold merch.

I was told by a CPA that it’s perfectly legal to deduct expenses as you incur them. Whether or not the item sells in that year does not determine whether or not you can log the expense of purchasing it. Were they incorrect?

 

[Coldsnap]

A PP debit card is linked to your go daddy account. It tracks your COGS and other expenses, and prepares your tax information for you.

Gotcha, I think I could probably link a non paypal debit card to my go daddy acount and use that exclusively for business expenses?

 

[Fueco]

A PP debit card is linked to your go daddy account. It tracks your COGS and other expenses, and prepares your tax information for you.



I was told by a CPA that it’s perfectly legal to deduct expenses as you incur them. Whether or not the item sells in that year does not determine whether or not you can log the expense of purchasing it. Were they incorrect?

My understanding is that if your sales are greater than $1M, you only get to claim purchase cost on items that sell. Under $1M, you can write off all purchase costs.

 

[drlivingston]

My wife, taking photos for her first ever eBay listing.

So proud.


View attachment 848242

Mahatma Holly getting things done!

 

[My Main Man]

Any regulars here interested in a 2011 Mac Mini? It's not the greatest machine ever but you'd be able to run GarageSale on it if you've been wanting to give it a shot for a lot cheaper than a MacBook Air/Pro. I had it hooked up to my TV for a few years and I'd watch torrented movies on it and play Super Nintendo roms on it. Let me know if you're interested. I haven't really done a ton of research on what it's worth yet (I'd hook regulars up for below ebay prices) but here are the specs. You'd probably want to do a RAM upgrade, FYI. Let me know if anyone is interested.

 

[JackFlash]

What categories do you use when listing t-shirts? For a vintage band t-shirt, for instance, you could list it under andy combination of shirts, vintage shirts, and band memorabilia. Or does this not matter much as folks just have their keyword searches lined up?

 

[Coldsnap]

Holy ****, ya doin't really realize how much ebay / paypal is actually getting from you until you put it all into Go Daddy and look at total expenses...

 

[leisurewear]

Holy ****, ya doin't really realize how much ebay / paypal is actually getting from you until you put it all into Go Daddy and look at total expenses...

wait till you realize the government is taking another 30% off the bottom

 

[Coldsnap]

wait till you realize the government is taking another 30% off the bottom

Yes I'm starting to realize this is a spending game. Where you're sort of stuck with about doubling your money spent(after expenses and tax). And the best way to make more money is to spend more money on good product.

 

[Fueco]

Yes I'm starting to realize this is a spending game. Where you're sort of stuck with about doubling your money spent(after expenses and tax). And the best way to make more money is to spend more money on good product.

Just like all of retail...

 

[ZGHCU]

Hey guys, I'm still fairly new to eBay, and I've got a couple questions. First, I've got a buyer that purchased one of my items that was BIN two and a half days ago, and I haven't received payment yet. How should I go about solving this? Should I just shoot him a message, or go through eBay?

Also, I've been moving a lot of ties and shirts lately, and I have been just using small boxes and large manila envelopes using USPS 1st class mail. I've been thinking to myself that there has to be a better way to package this stuff. What do you guys use to send shirts/ties/stuff under a pound?

 

[txwoodworker]

Poly bags for shirts, and padded craft envelopes 7x12 for ties.

 

[bert9000]

Hey guys, I'm still fairly new to eBay, and I've got a couple questions. First, I've got a buyer that purchased one of my items that was BIN two and a half days ago, and I haven't received payment yet. How should I go about solving this? Should I just shoot him a message, or go through eBay?

Also, I've been moving a lot of ties and shirts lately, and I have been just using small boxes and large manila envelopes using USPS 1st class mail. I've been thinking to myself that there has to be a better way to package this stuff. What do you guys use to send shirts/ties/stuff under a pound?

Shoot him a message first. Also, turn on immediate payment requirements with Buy It Now.

I usually use poly mailers and USPS First Class. Other people might have better ideas.

 

[ZGHCU]

@bert9000 @txwoodworker Thank you guys!

 

[txwoodworker]

This came on after another video I was watching. Always spell check your auctions, kids. Didn't watch the other 11.