Is This NEW ebay Fee Report Useful for Taxes?
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- เผยแพร่เมื่อ 9 ก.ย. 2024
- Keeping track of ebay fees is a pain, I found this new ebay annual fee report for manage payments to look very promising. Let me know what you think! Did I mention that I'm not an accountant or a cpa and am a little skeptical of the wording ebay uses on their little disclaimer =)
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Please make more ebay tax/bookkeeping vids. You're a great teacher.
I have to thank you again! 🙏🙏☺️☺️ Now that I'm at my laptop, I see this is EXACTLY the type of report I spent a lot of time trying to find yesterday!!! Perfect!!!!
Has anyone asked what the Expenses consist of? Is it Ebay Final Value fees and insertion fees, and does it include the PROMO Fees. There is a line item for advertising on the Schedule C and I think Promo fees might be advertising and would need to be reported separately that expenses like commissions
Hey Eric, I have already used this info for my taxes. I did my entire year like you did and printed that report and then I printed out a form for each month of the year. Great info though!
Thats awesome, I guess its not that new lol!
@thecollegepicker how much federal tax will be on ebay for example if I sold for 20.000$ and how much i have pay to ebay and federal tax? Can you help
Thanka you College picker for takin the time to create the vid & post it. I hoped to see this watching vids for tax filing for my small ebay store & hadnt seen it on several vids. Great job
thank you, thank you. I agree with the previous viewer, make more ebay videos. I was able to follow your instructions easily.
OH, HOW CUTE... NOW IM A INDEPENDENT CONTRACTOR. I OWN A BUSINESS, THE BUSINESS OF DIGGING IN DUMPSTERS ... LOL GOING TO THRIFT STORES. I LOVE POLITICIANS. THESE CROOKS FLY AROUND IN A JET, EATAT FANCY EATERIES, AND I EAT CHEAP TOCOS TO SAVE MONEY. A FEW WEEKS AGO I BREAK DOWN ON THE SIDE OF THE ROAD, WITH A LOAD OF CRAP IN MY TRUCK, I GRABBED IT FROM A APT MOVE-OUT. PARKED THE LOADED TRUCK BY A GAS STATION, CAME BACK LATER AND THE HOMELESS THIEVES LEFT ONLY EMPTY BOXES BEHIND.
MY QUESTION IS, DO I GET A WRITE-OFF FOR THE LOSS? BY THE WAY, I DIDN'T GET ANY RECEIPTS. I'LL HAVE TO REM TO DO THAT. SO MUCH FOR MY INDEPENDENT CONTRACTOR SKILLS.
Some guy on here says he's trying to do 11 per day. LOL, I'm going to school, but do this to pay room rent and college fees, books, internet, etc. But teach me how to do this for a living? Are you NUTS? My advice after doing this for less than a yr. is to get an education. All I see at these places are scrappers, like myself trying to get in the front of the line for that hidden treasure. I'm gonna be a broadcaster, working at a radio station hopefully. But do this for the rest of my life? NEVER. Now the Gov wants a tax on one of those throw-away sports tee shirts I was lucky to be given. That figures! Joe Biden must have run out of diapers, He's got a chapped a$$ and takes it out on the little guy. Isn't America GREAT?
this is schizo
Great Video! I Love Learning New Things about how to be a better reseller on eBay.. especially when it’s about “Taxes”. I heard on another channel that EBAY is not going to start there Tax Change. We all received information about eBay changing thee ( Gross Tax of $600 Dollars per year ). “ Keeping it at: 200 items or $20K per year in gross sales “. Is this for 2022 Tax year or 2023? If you or anyone else knows could you please let me know? Thanks!!
Super helpful !!! thank you so much for this video! super straight forward !!!
You are welcome
The numbers are this sheet don't add up. If you subtract refunds expenses and transfers from orders it should equal out and yet it's off by thousands of dollars. I called ebay about this and the rep in accounting told me it's too complicated for him to figure out. The only thing correct on this page is total net transfers.
HI, Did you figure it out? I'm having the same problem only the total in net transfers is correct on my report. I'm confused.
@@tr-sp6qo Looks like each sale has different parts that are spread out across several days. Initial payment, ebay fee, shipping and payout. Those things do not always coincide within the same report. Something any competent accountant should have been able to explain, if they understood there own report.
It doesn’t give me the option for “payments” just activity, messages, account.?? Please help, so I need to change my eBay account to a business account or something?? I only make about 300-400 a month.
Now "Net Transfer," is that only counting what was sent to your bank account or what you made for the year?
As in if I didn't have auto payout activated and the money made in December wasn't transferred until January, it would be inaccurate. Correct?
My Performance>Sales and Payments>Reports pages do not match.
yeah i used it to do my taxes, it has everything you need.
Solid 🤝
I didn’t receive a 1099 for EBay this year for my taxes. I did not sell much. Less than $500.00 dollars for the year 2022. Do I need to report anything to my bookkeeper? Thanks for your help :) Great Video!! Very helpful information 👍👍👍
Supposed to
Only need to report if you make 600,00 or more!
For shipping labels what is included is it only labels deducted before payout or does it include labels purchased with Paypal?
Hi do you think you can make a video on how to report your taxes on eBay I'm new on selling on here thanks
Hello the reports tab doesn’t come up for me and this screen looks different. Does anyone know if this changed?
Sooo useful! Thanks for the tip!
Glad it was helpful!
That Jawn was useful thanks for sharing.
Thanks jawn
thank you very much, I was worrying about ebay fees and taxes.
You are welcome.
useless, i WAS SEARCHING FOR THE state tax NO ONE HAVE THAT INFORMATION - IT UPPEAR THAT EBAY TAKE TAX RIGHT AWAY AND SEND IT TO IRS!?
Thanks for the tip!
You are welcome
What should my dimensions be in inches for the 4x6 labels?
Useful, thanks for this content
Tax is just so tricky to figure out 😢
😩 tax season coming up
@@thecollegepicker my uni has accountants so that’s one relief
Yea cause Ebay takes out tax when someone buys an item from you... so why do you have to still pay another tax to the IRS? I can see they taking out the sales fee but why take sales tax... and I still have to pay that same sales tax when doing my taxes???
@@ddy246 I think you’re confusing sales tax with income or federal tax. eBay and other marketplaces are required by law to collect sales tax from buyers from pretty much every state that has sales tax, it was a Supreme Court decision back in 2019. When reporting your income from eBay you report your gross sales and you don’t include the amount eBay charged for sales tax. eBay doesn’t include the sales tax amount they collect on the 1099 they send you.
@@stevejacobs2764 I was looking for this answer all over the internet, THANK YOU !!!
Thank you so so much! Can't wait to try it out tomorrow (yes, I've procrastinated badly)! 😅
Lol you are welcome
Fantastic awesome fabulous helpful knowledgeable perfect
Why does mine look completely different?
Im having trouble reconciling it to my 1099.
Mine was very very close to the 1099
@@thecollegepicker Shouldnt they be the same number?
You'd think. It may have something to do when an item is purchased a day before the year starts and then is actually processed in the new year. Thats just my guess.
Quick question. Do you get taxed on the 77 thousand or 60 thousand? Thanks
Neither. You get taxed on profit minus expenses. You have a lot of expenses and that will vary person to person.
@@thecollegepicker cool, thanks
U the man. Subbed 👍
Appreciate you bro 🤝
The eBay disclaimer says it doesn’t constitute tax ADVICE, not that it isn’t data. It’s data, and how you use it to do your taxes is up to you and your financial adviser.
Thank you
Great very useful
no it is not useful as they swoop in with charges on your account and you don;t know what they are for but there they are on your account from eBay. It will cost the government three times more to investigate the poos sods who try to make a pittance, and it is a pittance from selling stuff on eBay than it will recover in taxes. The fees paid alone are forbidding let alone the initial cost of items . It looks good from the overall gross figure of sales but behind those figures is a 50p per item gain.
This was great
UK version so different.
This gave me gas
Happy to help =)