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Finding stuff to sell on eBay and Amazon

 

The site where Gillmomma got the info to order the free products is   http://www.gettingfreebies.com

Sorry it has been a while since we posted a video, but we have been busy learning Amazon and had to do taxes.  This is just one of our many trips last week.  Keep on driving yourself and the sky is the limit.  We are so glad all of you guys get stuff from our videos.  I hope you can take something from these and improve your life.

You can check out our site to get more information on making money on eBay and Amazon.
www.gillmoney.com

Music:
incompetech.com

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Our Las Vegas ASD Convention Trip and Selling on Amazon

 

This is our trip to Las Vegas.  It wasn’t just business.  Here is also some updates on our new Amazon business.

If you want to get one of the scales just go to recommended supplies and there is a link there.   Thanks guys for your support.

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75$ into $1000 making money on ebay


Here is a short picking trip.  We spent $75 on eBay items and they should sell for around $1000!  Not too shabby.  I know we make it look like it’s easy to Read More…

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EBay’s SPRING SELLER UPDATE THE GOOD AND THE BAD

On August 20th the new evaluation standards will be put into action on eBay.  This is a new evaluating standard for all sellers.  These new standards are Read More…

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Free eBay Listings This Month!

Some really great news for all eBay sellers with stores.  From now until March 31, you get up to 2,500 more free listings.  If you do not have a store the offer is also available to anyone who goes and sets up a store.  eBay stores start at $19.99 a month, and if you are serious about running an eBay business you must get a store.  There are lots more features that can help you out.

The free promotion is available to auction and fixed price listings on eBay.  It excludes Buy It Now, Good til Cancelled, 1 day duration and 3 day duration.  Almost all categories are included.  It started on Thursday, March 6 and will run until Monday, March 31 2014.

If you want to activate this offer for your eBay account just click Activation required.   See terms and conditions for full details.

Lets get listing everyone!!

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Your Unfair Advantage

Guest post by Jim Stewart.  Jim lives in Philadelphia, works full time, and enjoys selling on Ebay on the side.  February 7th marked his second year anniversary selling on Ebay, and he’s on track to crack his $2,000 sales goal for the month.  Way to go Jim!

When it comes to tracking down hard to find items Read More…

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Selling Remotes on eBay and Listing Faster

 

Well, here you go.  Lots and lots of questions on remotes.  This is really a very small portion of all the items you can sell on eBay, but an extra $100 a month or so adds up.  You can use the listing tips to list any item on ebay not just remotes.  Auctiva is great for speedy listing.  Hopefully you guys are learning and executing these methods to grow your online business.  Best of luck to all of you and thank you everyone.

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Building your Homemade Packing shipping Peanut Hopper

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Here you go guys as promised how I made my homemade peanut dispenser.  Look at all the supplies and go get them.  This will not Read More…

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Doing your taxes for eBay

I get so many people ask me about taxes, so I wanted to just give a brief rundown of doing your taxes.  First thing is go find a tax guy (or woman) that you want to do your taxes.  It is best to do this first because many tax professionals will have different ways that you can keep track of your numbers.  Some may even give you a spread sheet or free training on quick books.  So if you are serious about keeping track DO THIS FIRST!

Do I Need To Report My Taxes?

Legally yes you do need to report it.  If you make more than 1$ profit you are supposed to report it.  If you make more than $400 profit you must pay self employment tax. Paypal only issues you a 1099 if you have had $20,000 in sales and over 200 transactions during a year.  So they are not reporting your income (currently as far as i know) to the IRS unless you meet that criteria.  So technically you are supposed to report sales from yard sales and Craigslist.  That doesn’t mean that everyone does but it is up to you.

Paypal Analytics

If you Google Paypal Analytics you can log in for free with your Paypal information and get access to lots of reports.  I use these reports for finding out how much sales I have had in a period of time and also how many refunds.  I know I hate refunds but it happens when you run a business.  I also use this to generate a report so I can find out how much I owe my state for sales made in state.  It really is a pretty easy tool to use and if you are doing eBay, I am sure you won’t have a problem using it.

Receipts

Keep your receipts everyone.  It is always good to keep everything.  We use our Paypal for all of our business expenses, fuel, inventory, packaging materials, etc.   You can download each month of statements and save them to your desktop.  At the end of each year we back them up on a flash drive sorted by month so we are safe if we are ever audited.  The paper receipts are stuffed into monthly envelopes and put into one bigger envelope.

Write offs

The beauty of doing eBay/Amazon is that you are going to make more money and show that you made less.  That’s right everyone.  You get huge benefits for having a home based business.  Here’s an example, Bob is an average American worker has a house or rent payment, a cell phone bill, internet, utilities, gas to and from work, and lots of other basic expenses.  Well if Bob makes $50,0000, Bob makes $50,000 minus his standard deduction.  As a home business owner all of those things are deducted out of your earnings.  So when you made $50,000 it shows you made $16,000.

Some of the things that are business expenses

  • Standard deduction for vehicle maintenance and gas
  • Portion of your rent or house payment
  • High speed interent
  • Portion of your utilies
  • Business expenses ( IE trip to Vegas for a convention)
  • Cell phone bill (part or all depending on users)

The reason you get to do this and good ole hard working Bobby doesn’t is because Bob gets a W2 and you get a 1099.

Using Godaddy for doing taxes for ebay (haha sounds like Gilldaddy)

Godaddy has an invoices and bookkeeping service  that we just signed up for this year.  One of Gillmomma’s friends on an eBay group recommended it to us.  So far I love it.  It does a great job of organizing everything and it links up with your Paypal and Amazon accounts.   This service makes tax preparation a breeze, or as far as I can see it does.  It imports your sales and allows you to track everything.  Once you are ready to do your taxes it helps you by filling out your schedule C.  I like the fact that you can login on your smartphone to keep track of everything.  They have this service as a monthly payment or you save more if you purchase the full year.  You can check it out below.

Online Bookkeeping for $9.99/month with GoDaddy!

So that is just my take on the whole tax thing.  I am sure you could read a whole book on taxes for this business, but the best advice I can give to any of you that are getting serious with eBay and want to keep track of everything is find a tax guy.  Do whatever they tell you to do.  I am not a tax expert, I pay someone else who is.

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Look out for this mug!

big_hug_mug2Look out for this coffee mug guys.  We found one of these recently at a thrift store for $.69 at a local goodwill.  This mug is an FTD Big Hug Mug and it sells for really good money.  We sold our mug for over $70.  Why? you may ask. Read More…

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