 | ||
|
| ||
|
|
Auction Information ChannelSEARCH: The auction information channel Directory of Information
auctions Akron, Ohio listings, estate sales Akron, Ohio, surplus liquidations Akron, Ohio
We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics. |
|
|
|
|
|
 |
|
|
Place your TextLink AD here free |
Q: I read your last column about paying income tax on eBay sales if you are doing it as a business, but as someone who only sells on eBay occasionally I'm still confused if the IRS rules apply to me. Can you tell me more? -- Norman L.
A: Last week's column on whether you were required to report income earned from eBay sales to the IRS sparked a number of additional questions and comments from eBay sellers who were hoping that I could somehow validate that their eBay activities were mere hobbies instead of actual businesses and therefore not susceptible to IRS taxation.
Several folks argued that just because their little eBay hobby generated a little cash, that didn't make it a full blown business. It seems they consider the income from their little hobby to be financial manna from Heaven and thereby not taxable by earthly tax collectors. I've always been amused by folks who try to impress me with talk about their "little side business" but when the subject turns to taxes they suddenly refer to it as "my little hobby."
All kidding aside, the conclusion that I came to after reading each email was always the same: while you may think selling on eBay is just a fun pastime and the money you're making is not reportable as income, depending on the circumstances, the IRS would probably disagree with you.
It seems that everyone likes making money, but hates carving off a piece for good old Uncle Sam. Welcome to free enterprise, folks. If you're going to come to the dance you have to pay the fiddler.
The IRS rules are clear: you must pay taxes on all personal and business income and that includes money you make selling on eBay.
In its most basic sense, the IRS rules can be interpreted to mean that if you buy an old vase at a garage sale for $10 and sell it on eBay (or elsewhere) for $20 you made a $10 profit and therefore must report it as income and pay Uncle Sam his fair share.
In reality, if you are a casual seller who only sells a few items on eBay every now and then it's doubtful the IRS is going to let loose an army of agents to collect taxes on the few bucks you make. However, if you consistently sell on eBay the IRS may deem your activities to be business oriented and you will be required to file a Schedule C and claim the income.
As mentioned last week, the IRS uses a number of factors to determine if an eBay hobby that generates sales revenue is actually a business.
These factors include: - Do you carry on the hobby in a business-like manner? - Do you spend considerable time working on the hobby? - Do you depend on income from your hobby for your livelihood?
If the answer to any or all of these question is yes, you're running a business, not carrying on a hobby, and you are responsible for paying taxes on your income.
What's eBay's take on all this? Naturally eBay is vehemently opposed to anything that might rock the eBay boat. eBay does not does not issue 1099 tax forms to sellers, nor does it report seller's sales figures to the IRS.
eBay considers itself merely to be a facilitator, meaning that they provide a marketplace in which buyers and sellers come together to do business.
Furthermore, under it's current system it would be impossible for eBay to issue accurate 1099s to sellers. eBay does not track if a seller actually gets paid by the buyer, so eBay has no idea how much money - if any - actually changes hands at the end of each transaction.
On the bright side, if you do sell on eBay as a business you can deduct a number of business expenses, including the cost of inventory, listing fees, shipping, envelopes, packing materials, etc.
You might also be able to deduct things like the purchase of a computer for business use, office space (even if it's a home office), office supplies, and more.
Talk to your accountant if there's any doubt as to whether you should or should not be paying taxes on your eBay earnings.
Here's to your success!
Tim Knox
Tim's latest book is "The 30 Day Blueprint For Success!" We asked 58 Top Internet Money Makers: If you lost is all tomorrow and had to start from scratch, what would you do to be back on top in the 30 days? Their answers just might make you rich!
Related Links:
http://www.prosperityandprofits.com
http://www.dropshipwholesale.net
MORE RESOURCES updated Mon. July / 22 / 2019In our area auctions have been commonplace for many years so most people have at least some idea what attending one entails. For those from areas where ...
Alabama's surplus property moves to year-round, online sale, with cars going for as little as $200.
The Alabama Department of Economic and Community Affairs is moving its auctions of surplus property online.
A total of 130 cars will be cross the block at Silverstone Auctions on 27 July — and of those, the “Made in England” section alone could fill a history book of iconic ...
MINERAL WELLS — The final day of the West Virginia Interstate Fair and Exposition Saturday kicked off with a packed barn for the Junior Livestock Auction.
Oregon. EUGENE. (Eugene Livestock Auction). July 13. Total Receipts: 722. Comments: Small animals getting stronger. Feeder cattle steady with good ...
The Alabama Department of Economic and Community Affairs announced they will move Alabama's public surplus property auctions to the internet starting this ...
A home in the same neighborhood where Mark Cuban lives in Dallas, Texas is going to auction on July 20 with no minimum bid required. The home is valued at ...
This week marks the 50th anniversary of the Apollo 11 moon landing, and for space fans with deep pockets, it's possible to own a piece of the historic mission.
On Monday, three of the most intense bongs you've ever seen will go up for auction at Heritage in Chicago after being displayed at ComplexCon. It's been a long ...
Brewing a Charlottesville beer with Champion. A holiday party for 50 at Duner's. The ultimate tailgate party from Maya. These experiences and many more will ...
Sotheby's is partnering with Stadium Goods for an online auction of 100 pairs of the rarest sneakers ever produced: From Nike's Moon Shoe to the Adidas NMD ...
Hong Kong's Office of the Communications Authority (OFCA) published guidelines, including reserve prices and spectrum caps, for upcoming 5G auctions in ...
Writing on an exclusive basis for ExchangeWire, Deepti Phatak (pictured below), sales project and program lead at Verizon Media, explains how both.
Riding on the coattails of a highly successful 2018 season, commercial auction houses pulled out all the stops in wine sales in the first half of 2019. On the block ...
College of the Redwoods will honor former football player/wrestler Dan Phillips at the school's 16th annual sports auction/dinner, one of two big upcoming ...
Taxi medallions might be worth less than ever. But in some ways, there has never been more interest in the troubled asset. Late Wednesday afternoon a bidder, ...
July 19th, 2019 by Saurabh. Rooftop Solar. Courtesy: MNRE, India. An industry body in India representing solar power developers made a significant proposal ...
The closing auction — a window of just five minutes — is becoming the most heavily traded part of the day, a shift that has driven a wedge between investors,...
U.S. Treasury prices fell this week after investors submitted fewer bids than usual at a series of government bond auctions, underscoring the centrality of their ...
CLINTON -- A local engine, tractor and automobile collector's estate auction in early August will allow more than 200 stationary gas engines, antique tractors and ...
Singapore Exchange's regulatory unit is proposing imposing price limits for daily stock auctions to prevent incidents such as the $41 billion flash crash in ...
The inability to meet redemptions — due to a high proportion of illiquid or unlisted assets that just worsened with an exodus of investors that shrunk the fund from ...
When you load a website, an electronic auction happens in milliseconds to determine which ads show up on your screen. Now, privacy regulators in Europe are ...
Former Wimbledon champion Boris Becker has raised more than £680000 in an online auction by selling his own memorabilia.
Some of the original artwork for the comic strip, originated by Jim Davis in 1978, is up for grabs starting Tuesday.
“Data-Driven Thinking” is written by members of the media community and contains *fresh* ideas on the digital revolution in media. Today's column is written by ...
Jon Ellis Updated: July 17, 2019 03:09 PM. Anyone who has ever dreamed of owning a Twin Ports lighthouse now has a chance. Advertisement – *Content* ...
Some trophy paintings went unsold at recent London sales, where collectors chased after lesser-known artists more than household names.
As the real estate market has slowed over the last year, luxury home auctions have seen incredible growth. But these estates and mansions aren't being ...
Following its monumental collection of KAWS Companions last year, Heritage Auctions continues to gather sought-after artworks with its forthcoming Urban Art ...
MONROE COUNTY. PROPERTY AUCTION. Friday, August 23, 2019. Registration begins at 12:30 P.M.. Auction begins at 1 P.M.. St. George Cultural Center.
Olivia Newton-John is auctioning over 200 iconic items from her recording and film career, including costumes and accessories from her 1978 starring role in the ...
A disabled veteran whose Arizona mobile home was seized and sold over a few hundred dollars in back taxes will keep his home. Maricopa County officials ...
This week's auctions appearing in the July 19, 2019 Wisconsin State Farmer.
But first, Elizabeth Taylor's collection of jewelry, art, and decor items from her many homes will be on view aboard a luxury cruise ship.
By any credible measure, the U.S. has become less creditworthy under President Donald Trump. Total debt outstanding has risen by $2 trillion to $22 trillion ...
This won't be your typical Nebraska auto auction, with bidders shuffling from car to car inside a barn or across a bean field.
The toy, a prototype Boba Fett action figure, was sold last week by Hake's Auctions of York during an online event.
Most consumers don't know it but house bidding is allowed under Arizona law in auctions with "reserves" or minimum prices set by sellers.
U.S. government debt yields rose Tuesday as investors awaited Fed speeches and a *fresh* batch of economic data. U.S. Markets Overview: Treasurys chart ...
For the first 24 hours after I post on artnet News, I shut down all communication devices—”paranoiac” or “delusional” are not the words after I've suffered physical ...
By Lianna Spurrier for CoinWeek ..... In conjunction with the ANA World's Fair of Money in Chicago, Heritage will be holding an auction from August.
A pioneer electric car of historical significance is to be auctioned next month. The 1898 Riker won three of America's first car races, a Gold Medal at the 1900 ...
After a new PA law mandated they start back, the Pennsylvania Gaming Control Board (PGCB) announced the second round of mini-casino auctions begin Sept.
The business assets of Thr3e Wise Men microbrewery and restaurant's now-closed Broad Ripple location will be sold at auction next month, giving a new ...
RM Sotheby's has put together what it is calling the “full Ford GT lineage” for its Monterey Car Week auction in August. That lineage scheduled to cross the ...
By Lianna Spurrier for CoinWeek ..... Stack's Bowers will host a series of auctions at the 2019 ANA World's Fair of Money in Chicago, featuring.
This week's auctions appearing in the July 5, 2019 Wisconsin State Farmer.
Joe Tiller, our most beloved football coach in Purdue History, will have some of his items auctioned off in the coming weeks in order to raise money for the Joe ...
By Sandra Guile Better Business Bureau Going to a live auction to find a unique piece of furniture, jewelry or art can be an exciting but exhausting experience; ...
There's no evidence that this statue of Egypt's most famous monarch left Egypt legally and many believe that the item was looted.
The FCC set the stage today for more auctions of 5G spectrum. At today's monthly meeting, the commission adopted rules for the auction of millimeter wave ...
The debate over whether to remove Confederate monuments divided the country. The question of what to do with them next is just as complicated.
The federal government is auctioning off three historic Great Lakes lighthouses. The lighthouses are Poe Reef on Lake Huron, Ontonagon Breakwater on the.
An auction Wednesday to sell off bankrupt Johnson Publishing's historic Ebony photo archives has been continued until Monday after producing "multiple ...
An auction of David Gilmour's guitars has raised a lot of “Money” — to combat climate change.
Andrew Jones is the founder of Los Angeles' newest auction house, Andrew Jones Auctions. His career in the auction business spans four decades.
Paintings by Lynette Yiadom-Boakye and Marlene Dumas bring in double their estimates, as do others at Christie's and Sotheby's.
Amish made outdoor furniture - some made from material created from recycled milk jugs like these beautiful red and white deck chairs and some made of cedar, ...
One of the event organizers said approximately 70 people and organizations donated items to the auction.
The Frank Lloyd Wright-designed Sondern-Adler House in Kansas City will be up for auction. The house, located at 3600 Belleview Ave., went up for sale last ...
A new report shed doubt on India's plan to start 5G spectrum auctions in 2019, instead targeting them for the second half of 2020.
Capital city property auctions have sustained their recent improved clearance rates, but early signs that prices have bottomed out have yet to have any effect on ...
When it comes to bailing out the sector through financial incentives, there is not a very strong case for the government to help out.
Disabled veteran Jim Boerner, whose Mesa mobile home was seized and sold at auction, will get to stay under new deal.
LOS ANGELES (AP) — Elvis Presley fans can take to the road in his personal stretch limousine, on his last motorcycle or in a pickup truck if they have the money ...
The Arizona Republic analyzed auctions during a 60-day period and identified an unusual pattern of bidding by accounts linked to nonworking email addresses.
Nearly 400 pieces of gold and jewelry seized by the New Orleans Police Department are going up for auction.
RM Sotheby's will dispatch a bevy of rare supercars at its upcoming auction during Monterey Car Week in California. One of its most rare selections is a McLaren ...
It's not the hardest thing in the world to get ahold of a cask full of whisky, though it might require a little digging. Distilleries, especially new ones, sometimes have ...
WMUR's John DiStaso reported Tuesday that Gov. Chris Sununu auctioned off his family leave veto and two flags flying at the State House that day at a July 4 ...
Carri Ferris, the Colorado River Women's Council's president for 2018-2019, explains the rules for the group's Western Auction fundraiser Saturday evening at ...
HARRISBURG, Pa. (AP) – Pennsylvania will try again to award licenses for five more mini-casinos, part of an aggressive gambling expansion authorized in ...
The Detroit Pistons will hold an online auction for collectibles honoring the history from their former home The Palace of Auburn Hills.
Julien's Auctions and The House of Taylor—which oversees Elizabeth Taylor's legacy and foundation—will sell the celebrated Hollywood legend's red-carpet ...
It's a buyer's market in Mexico for some high-end properties that come with a grisly past. The Mexican government on Sunday began auctioning off dozens of ...
Twenty years ago - on June 24, 1999 - Eric Clapton sold over 100 of his guitars and other items in a charity auction. The sale smashed records for fretted ...
MEXICO CITY - For years, the Mexican government has auctioned properties taken from criminals. The current administration is also auctioning dozens of ...
This week isn't quite as jam-packed as the last couple have been, but here's what I'll be watching: At Christie's New York on Thursday, July 18, One Giant Leap: ...
... ** Indicates an auction ad appearing in this issue of the Wisconsin State Farmer. FRIDAY, JUNE 28. Online Only. 4:00 PM Commercial Building on 22.66 ...
The mergers of Leslie Hindman Auctioneers and Cowan's Auctions, as well as Rago and Wright, offer a hint of what's in store for the industry.
Two pistols made from a 4.5 billion-year-old meteorite could fetch $1.5 million when they are auctioned later this month.
Amid the rapid patter of prices for animals at Saturday's Linn County Youth Livestock Auction the auctioneer would occasionally encourage buyers to be a bit ...
The dinner will be held on Tuesday at Atria Springdale.
DENVER — Mecum Auctions, the world's largest collector-car auction company, is returning to Denver on Friday, July 12 and Saturday, July 13. The two-day ...
Tips from an auctioneer on getting the most out of an online auction.
The auctions for Jamie's Grill and Pub's two locations in Whitman and Braintree were postponed to August on Tuesday afternoon, one day before they were ...
Thanks to a number of recent high-dollar sales, the Datsun 240Z has come into the spotlight as one of the next big vintage collector cars. With some S30s going ...
You might not have the reflexes of Matt Murdock or the indestructibility of Luke Cage, but thanks to a collection of costumes about to be auctioned off by Netflix ...
For all cart enthusiasts and those just browsing, the Lancaster event center is hosting a car auction in partnership with SG Auction this Friday and Saturday.
Four eccentric, somewhat bonkers autos from the '80s are hitting the block at the collectible-car world's most important annual sales.
IONIA — Pioneer Construction owner Tim Schowalter couldn't resist a handwritten invitation from 8-year-old 4-H'er Vayda Woolston asking him to attend the ...
A number of Apollo 11 artifacts that were owned by Buzz Aldrin are up for auction at Sotheby's later this month. The Apollo 11 lunar module pilot has consigned ...
Auction houses are looking to cash in on the nostalgia of the Apollo 11 lunar landing.
The photo archives of Ebony magazine, which span decades and contain some of the country's most iconic images of African American history, are scheduled to ...
Dating to the time of the inaugural induction of 1939, a newspaper photo showing baseball's earliest Hall of Fame icons is at RMY Auctions.
If you're a fan of Elvis, you have a shot at owning his stretch limousine, his last motorcycle or in a pickup truck as they go to auction. Kruse GWS Auctions will be ...
It was a very successful Rice County 4-H Livestock Auction this morning. It began with a complementary buyers breakfast served by the Rice County 4-H at 8:30.
|
|
|
RELATED AUCTION INFORMATION ARTICLES:
How To Sell On eBay: The Money Is In The Back-End Many people who sell on eBay completely neglect the follow-up process. They post an auction. Effective Online Car Sales on eBay Motors Remember back when selling online was a new experience? Dealers tried everything to sell their vehicles online. Today's market has expanded to include several hot online marketplaces. Importing Products to Sell on eBay The interesting thing about online buyers is they are extremely price sensitive. A survey done by Forrester Research shows that 73 percent of surveyed online buyers expect prices on the Internet to be cheaper than in stores. From eBay Zero to Power-Selling Hero: Don't Be That Random eBay Guy If I could convey only one concept to someone who was about to start selling on eBay, it would be this: no one has ever purchased anything on eBay with this in mind--"I think I'll buy something on eBay from some random guy and pay more than I would at the store down the street."No one has ever said that. 7 Great Reasons Why You Should Start an eBay Business Today eBay is a great part or full time business. An eBay Business can be used as a way to promote your Online Home Based Business. Starting an eBay Home Business Do I need to explain what eBay is?If 'Yes', where have you been living for the past 5 years? On Mars?eBay is the world's largest Internet auction site. There are a reported 30,000,000 users, but that number has probably increased in the time delay between me writing this article and you reading it. Profitable Paper Piecing on eBay--Part 1 Why sell paper piecings on eBay?eBay is a great way to make a steady part-time or full-time income from a hobby that you love! Selling paper piecings has its ups and downs, but overall it is a rewarding and lucrative venture.Getting and Understanding An eBay AccountTo get started selling paper piecings on eBay, you will need to set up an account. Professional eBay Auctions Reap the Profits for Sellers eBay offer an unbelievable amount of traffic for ANYONE wanting to sell on their auction site, so much so that millions of items are listed on it everyday. So with all this competition how do you make sure that your listing doesn't get lost amongst the rest and that customers keep coming back to you. Is Selling On eBay Just A Hobby Or A Real Business? Q: I made extra money selling things on eBay last year. These were items I picked up at yardsales mostly. How To Compete With Amazon.com If you are selling online,here is the down side of our business.. Can You Really Make Money Selling New Release CDs & DVDs On eBay? Being an active eBayer, I am often being asked about products to sell. A common question is "Where can I purchase products such as new release CD's DVD's and Video Games for Playstation and X box at a 75% to 100% discount. Easy Money on eBay? eBay was only two years old when I discovered it.A friend I worked with was also starting to sell on eBay at about the same time, and we exchanged ideas and experiences constantly. Tips on How to Profit from eBay Buy It Now Auction Listings eBay is an online auction site so it stands to reason that most users will tend to auction off their items aiming to get a high price.The problem with auctioning items is that eBay can be a very fickle place, one week an item may sell for hundreds of pounds but the next week the same item may sell for pennies. Royal Memorabilia -Smart Trading and Fake Dodging This is my second article about trading royal memorabilia on eBay and other online auctions. We're going to explore just what items are really tradable, how and where to find your stock and mention some definite pitfalls to avoid. Bananas - Your Source of eBay Packing Materials! This is the most boring stage of the process and subsequently where some eBay sellers let themselves down. If the buyer receives their purchase poorly packed and broken then they are not going to be happy and will want a refund and more importantly never buy off you again which will have negated all the hard work that you put into the previous stages of your professional auction listing. Everything You Need To Know About eBay Money Making Opportunities eBay money making opportunities are simply the best thing to come along since the wheel. Seriously, everybody from grandmothers to middle school kids are cashing in on what's been called the $14 billion eBay pie. How To Sell Santa's Slip-Ups Shoppers spent more than $15.5 billion this Christmas on gifts on the Internet alone. How Professional eBay Auction Templates Can Boost Your eBay Sales Do you like to sell on eBay ? It's easy and fun, isn't it ? In fact, it's one of the easiest online business you can start almost overnight, without any major investments. That's the best thing about it. Start an Easy Home Business: Become an eBay Trading Assistant eBay's online auctions have created business opportunities for thousands of people. Now the Trading Assistant program is making it easier than ever to start a business from home. Are You an eBay Shopper? As I write this article, I am keeping an eye on an item on eBay. Do I have to keep an eye on it? No.
|
||||||||
|
|
|
 |
|
Here
Find used office equipment in Ohio at www.OfficeJax.Has.It Find the best fleamarkets at www.FleaMarketWorld.Has.It Find electric powered vehicles at www.NoGas.Drives.It Surplus Outlet Directory 5th Avenue Flea market Find homes for rent
|
Surplus Overstock and used PET SUPPLIES buy arts and crafts supplies below wholesale in Akron, Ohio university of akron university housing available Find unclaimed freight in Akron Ohio
|
[Back to Top]
online shopping
Triplet jeweler's loop's
Akron crafts and hobby news center Advertising and promotions Akron, Ohio The Akron blogging news center Akron Ohio web site design news Akron Mortgaging and refinancing auction Akron Ohio auctions Akron Ohio
auction news and listings for Akron, Ohio Rosier's Auction
|
|
|||
|
