DECLARING INCOME...?

[19tigger73]

Hi anyone and everyone,

Sorry if this subject has already been discussed... But just looking for a little clarification.

I sell on a part-time basis, on average selling for a month, then taking a month off. I mainly sell old books with 90% of sales going to the U.S.

My sales are not anything to get rich off of, averaging about 10-15,000$/year, this being a "gross" amount. After deducting what I paid for the items I sold, I think the net amount would be around 7500$-9000$.

This is only my second year selling on eBay and was just wondering if I should be claiming income tax? Should I be looking to register as a business if I plan to continue on eBay and sell more?

If I should be doing these things, where do I go to start or who do I call?

I now have a file-cabinet full of receipts from buying and Paypal Sales receipts...Should I do anything with these now?

I just want to avoid any kind of problems in the future as I have heard some horror stories.

Thanks for any help!

P.S. Any good book-keeping programs I should be using ideal for sellers whose customers are almost all American?

[shooger]

This has been talked about quite a bit. You'd probably get more info if you went and read the past 3 or 4 discussions on it, because you might not get a lot of new responses here in this thread.

Just want to point out that it doesn't matter if you take a month off. I think the numbers that matter are yearly numbers.

[javax.swing]

I asked something similar here:

http://forums.ebay.ca/thread.jsp?forum=44&thread=100014733

[19tigger73]

THANKS GUYS & GALS,

JAVEX: HOWS IT GOING WITH YOU SO FAR? I HAVE THE SAME PROBLEM BEING I HAVE A FILE -CABINET FULL OF RECEIPTS, INVOICES, ETC.

I WOULD LIKE TO BE ABLE TO START FRESH FROM THIS POINT ON, BUT DON'T KNOW...

[javax.swing]

I'm swimming in government forms and documents trying to figure out what to do with all of it. Haven't really gotten out of the starting block quite yet.