Taxes 101 A Basic Overview For eBay Resellers
HTML-код
- Опубликовано: 14 мар 2024
- Click The Link Below To Try Found Today!
found.sjv.io/jr3EGP
**Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.**
Found's core features are free. We also offer a paid product, Found Plus!
As an eBay Partner, I may be compensated if you make a purchase.
eBay Store! ebay.us/pDQ3Ug
Jiaropack - The Best Colored Poly & Bubble Mailers On The Planet!
Save 10% Off Your First Purchase With Code: taylor10
jiaropack.com/TaylorExchange
I earn from qualifying purchases with this link.
As an Amazon Associate I earn from qualifying purchases.
- Boxes 30x8x8: amzn.to/43Ul9RG
- 100 Clear Poly Bags: amzn.to/3JEDf0j
- 200 Clear Poly Bags: amzn.to/42z7IFV
- 500 Clear Poly Bags: amzn.to/3yZweCq
- 1000 Clear Poly Bags: amzn.to/40d6pL5
- 2000 Clear Poly Bags: amzn.to/40dacYL
- 1375 4"x1" Thermal Labels Roll: amzn.to/40x91mJ
- 2750 4"x1" Thermal Labels Roll: amzn.to/3K41mHc
- 5500 4"x1" Thermal Labels Roll: amzn.to/42BcKBD
- 13075 4"x1" Thermal Labels Roll: amzn.to/3Zh3OhQ
- 27500 4"x1" Thermal Labels Roll: amzn.to/3lDyg8b
- 22000 Fanfold Thermal Labels: www.uline.com/Product/Detail/...
- 500 Fanfold Shipping Labels: amzn.to/42plKty
- 4000 Fanfold Shipping Labels: amzn.to/3ZZWCYV
- 8000 Fanfold Shipping Labels: amzn.to/3n7ZcgB
- 10000 Fanfold Shipping Labels: amzn.to/3n8lTBm
- 120000 Fanfold Shipping Labels: amzn.to/3JQ4Htk
- Shelves: amzn.to/3FNJNIR
- Wagon: amzn.to/3PBSiMb
- Dolly: amzn.to/3PAwvV8
- Printer Rollo amzn.to/3naIP2W
- Label Holder Fan Fold Or Roll: amzn.to/43ySCAw
- Tape Dispenser Holder: amzn.to/3TFKAS6
- Shipping Scale: amzn.to/3JANm6s
- Photo Light Bulbs: amzn.to/3K66t9X
- Clamp Lamp: amzn.to/3TX0zLP
- Flat Base Lamp: amzn.to/40wC0r4
- ThinkPad Laptop: amzn.to/3z6ptii
- Dock for Laptop: amzn.to/3z3kI90
- Mouse: amzn.to/40kiQF1
- 10 Key: amzn.to/40vVdJk
- Mic: amzn.to/3ZbBOw9 
Хобби
Pretty much. And on top of that, a lot of people are getting audits.
Very good job. Thank you
Appreciate it. 👍
Just make sure people understand that if you live in a state like I do that charges sales tax, Ebay collects that and pays it directly. You don't have to do anything yourself. When you're talking about filing a sales tax return viewers might think they have to file quareterly sales tax.
Ah good point. I was trying to hit on sales outside eBay like a pop up sale or person deal.
Waiting for the 'I thought you didn't have to file if you didn't receive a 1099?' comment 😂
Hahaha give it time.
I'm sure their will be a plethora of strongly opinionated comments on this one.
Yes 🤣 still going back and forth but almost finished
Come on man haha
@@TaylorExchange he just messaged me this morning
I haven't even started doing my taxes yet its my first year
It's not too difficult but does take some time to complete.
I keep my listing to err 82 and sold or not and loss cost of goods at OG cost too
What do you mean err 82?
When you buy stuff for yourself a thrift store along with sourcing inventory, do you make the clerk do two separate transactions?
That would be the best practice if you know for sure you’re keeping it for yourself.
@@TaylorExchangeyeah i mean that's what i do, i was asking you what you do lol
@@helpfulcommenter I do the legal thing 💀
sells and being on YT money too it is profit huh I will never do that just me
YT money, sponsors, affiliates, all adds up and the creative aspect of it is great.
Plus I get to help others out!
Can you deduct your shipping discounts or eBay fees?
You can deduct the cost of the shipping labels.
im using my brothers ebay. do you think it would affect his taxes and tax returns? i sold over $500 in a week so im selling quite a bit
Yes 😂
@@TaylorExchange dam, im under 18 so i have no real way to do this. so stupid, hate america
Do you have a SEP IRA? I have one,...it's a good way to be taxed less each year.
I have a Roth but no SEP 🤔
@@TaylorExchange I'm not sure of the difference,...but for SEP IRA you need to have either an LLC or a DBA,...and you can contribute about 20% of your yearly "profit" into the SEP IRA....so if you profit $100,000 per year,...and you put $20,000 into the SEP IRA, you would only get taxed on $80,000 that year,....however,...when you eventually take out money from the SEP IRA when you are in retirement you will THEN get taxed on it, -but at a much lower rate, so it is still a good deal. That's what my CPA told me.
@@NashTV8 Ah ok, good to know. Thanks
@@NashTV8Definitly has higher contribution limits but personally I'd only add to that after maxing out a Roth for the year; there's no better deal in terms of taxes than the Roth IRA
@@helpfulcommenter Probably, I certainly wouldn't know. I should watch more videos on them.
FIRST LETS GO
Woot woot! Thanks Bryan.
Please tell you gave our CPA a call to get your taxes filed 😂
Just got that email for Quickbooks for Ebay today. Wonder if that's worth it. I don't use Quickbooks, personally, but anyone have experience with the Ebay integration?
I’m going to check out Found.
They have a lot of the same processes as Quickbooks.
@@TaylorExchangeOh sweet are you actually gonna go for it? Will look forward to your review for a video? But it's a sponsor right? Hmmmmm lol
@@helpfulcommenter I’ve been tied up with the office move but the ya Found is the real deal.
A lot of taxpayers have opt out and aren’t filing this year.
Really? How come?
lol what in the world are you talking about
A lot of people owe and don’t want to pay. So they aren’t just not doing their return.
I’m staying this as a preparer myself, I lot of my clients filed themselves bc they owe money and don’t want to pay for a preparer. A lot of CPA and tax offices are getting cancelled appointments.
@@virginiavictorio1369 Ah yes the classic "Owe the IRS and don't want to pay" excuse. Works every time, major life hack.
I did a bit of poking around with Found, trying to figure out what exactly it is they do and if it's a good fit for eBay sellers, and I stumbled upon a few things that raised some red flags for me.
No one can read any comments on their Facebook page-they're there but hidden. They've also disabled the reviews tab, which seems a bit fishy. And their RUclips channel? Well, let's just say it's not exactly packed with helpful tutorials like you'd expect.
Their website claims they've got 25K users, which sounds impressive, but I couldn't find any real reviews from actual eBay sellers using their product.
I'm also curious about how they handle expenses when eBay takes them straight out of your payout. And what happens when your payout doesn't cover all your eBay fees, and eBay has to dip into your bank account? How do they handle owner investment and draws?
Would love it if you could share with us step by step how you make Found work for you on a day-to-day, month-to-month basis. Is our data end to end encrypted? What measures are they taking to prevent a data breach of all my information? Also, if you could let us know what your accountant thinks of it too. 😊
I’ll send this along to my Found contact.
Thanks for looking into it.
@@TaylorExchange looking forward to seeing it utilized in your use case!