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Buying & Selling Thru Ebay & Other Auctions/selling on e-bay
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Question
I was just wondering if you can help, i have set up a business acoount on e-bay do i need to pay tax on items i sell on e-bay?
Look forward to your response,
Many Thanks
If your are turning a profit on the items you sell on eBay, which you probably are because its your business account, then you have to pay taxes on the items you are selling. If you are just the occasional seller, looking to make some extra cash on stuff you don't need anymore, then you don't have to pay taxes on any of the stuff you sell because you are selling the items less then what you originally paid for them. I hope this helps.
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Russell Smiley
Expertise
I can answer most eBay buying and selling questions. I can answer questions regarding setting up a Ebay account and creating a selling account. I can also answer questions regarding Paypal, which is essential to your eBay success. I can answer questions on how to establish a good feedback rating if you are a new seller. In rare cases you may receive a damaged product or no item at all, I can guide you though contacting the seller and requesting a full refund though eBay and Paypal if you need to. I am familiar also with most of eBays policies and rules. I can also give you tips on how to spot bootleg software. I cannot answer questions on how to start your own eBay business, find good drop shippers, and find really cheap merchandise on the Internet to sell on Ebay for a profit.
Experience
I use eBay regular to sell my products around my house that I no longer use. I have 135 positive Feedback rating. I always have Paypal listed as a payment option, so I am familiar with using Paypal. I have been an eBay member since 2003.
Education/Credentials
High School Graduate
Awards and Honors
135 positive feedback rating
Honor Roll
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