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CLANA | Does selling items on ebay count as a buisness? |
i want to start a wholslaers account and just wondering does if i was selling stuff on ebay does that count as an buisness? |
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mamgu.......
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yes. |
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mike1942f
 |
Of course it does. As long as you are buying for resale (as opposed to selling stuff you have owned for a long time or were given) you are a business. If you have income, you have to report it (in the U.S.) and if you're a business for tax purposes, you are allowed to subtract expenses (on Schedule C) but only if you make a profit in your first years (3 of 5) If you continue to have losses, you may be considered to have a hobby from which you make money in which case you have to pay tax on all the income and deduct none of the expenses. |
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Helen C
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Remember to pay VAT! |
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isleofskye
 |
If you are obtaining an income from it then yes, and if you are opening a wholesalers account you are hoping to do just that. Contact the Inland Revenue and they will be able to help you. Don't try and avoid it as they will find you and the consequences are really not worth it. |
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sparkeling beauty.
 |
yes it can do some people open up shops on there |
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beanie
|
Yes it does if your income goes through a certain threshold. I am not sure what the amount is, but there has been a lot of publicity recently on such an issue. Do a search on BBC website, I think I remember reading something about it on there. |
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john m
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Call Griff host of ebay radio, if he can't answer your question no one can. |
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Sam's DAD
 |
It does if your doing 50 or more items a month , but if it's less than 500 a year then no it's not . |
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oscar
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if you sell on a casual basis then no,, but if you are selling all the time and making money then yes
the inland revenue is looking into a way to tax people who are running a business from home vie EBay |
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Trout Pout (Lollie)
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I'm not sure, but when you find out let me know... I want to do the same thing! |
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eBay Powerseller
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Hi – I am an established seller on eBay. eBay has been my full time job for 4 years, and I have sold over 12,000 items.
You'll need to report your sales on your tax return. Usually if you buy wholesale, you need a business license.
Please email me directly and I can share more information with you.
Regards-
suzanne@ebaysellingcoach.com |
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