eBay and Politicians What gives ?
Hi Ed WeBBers,
Well i guess at this moment in time you`re thinking ….Ed what the HELL are you going on about, politicans don`t shop on eBay they don`t need to bargain shop ?
Well peeps you`re right, with the money they claim back in expenses from the poor tax payer THEY don`t need to .
The point is , if you run a lucrative eBay business in whatever market, do YOU yourself claim back money through your eBay business , you will be surprized at what you could claim for and to be perfectly honest in this economic climate you `d be a fool not to..
Ed….does that mean i can claim back all the expenses for every first class stamp i paid for on my free postage offer to customers ?
AHH NO Doris , what you should have done is charged postage , saved up that money you spent on your customers , and took a flight to San Francisco i know a good hotel there called Alcatraz !!!
NOW WHERE WAS I..AH YES.
Basicilly, any expenses that you have are deducted from your profit , are deemed tax except!
Also people that run their business from home as do most ebayers, are also entitled to some form tax relief , so i would advise you to look into that, and check out what you are entitled to and claim as to this regard !
Now if you like exotic holidays and you source your products from say china , why not combine this with a holiday there and claim back expenses as a business trip, theres a nice cheap holiday for you !
However note if you are going to trade on eBay full time as a business THEN make sure you register on as a”business” and state this on eBay too as a business account, before you endeavour for your little cash back niceities , to make sure you are legitimate and qualify for these tax deductions!
Don`t forget that there are numerous ways to milk (for want of a better word) THE SYSTEM, and thats for you to look into , and if the politicians are doing it , IT MUST BE THE RIGHT THING TO DO , make sure you enjoy these benefits, just class YOUR BUSINESS as a legitimate free ride that YOUR ENTITLED too !
Peeps why am i always busy , i need to chill and settle down with my book , its a DIY book about decorating with a negative attitude called..
“Painting with Terets”
By Arthur( WHO YOU LOOKING AT%%??>><<) Smith!
Well tune in next time peeps when it`ll be more of the same on eBaying with some good home cooked tips just for you ,YOU`RE SPOILT YOU ARE, Doris says i`m too good to you (JOKING) ?
Until then Ed Devotees its TTFN….Ed.
MY Ed WeBBers ARE PRICELESS!
Ed
Mandy Allen
Barry Wells
Kathy Dobson
Rob Corrigan
John McNally
Steve
Jacinta Dean
George Nieves
Barry
Susan Owen-Thursf...
Cragar
Ann Martinez
Ann O Leary
JohnB
John,
Just stopping by from the MC to say Hi. Love your video!Wanted to say that we are all pushing to finish the product, you are not alone. Your site looks great! You’re handling it all and doing fine.
To your success,
Ann
Hi Ed, great post. It is really important to get all the tax relief you can because you can be sure if you get inspected and you have claimed something you shouldn’t they will weedle every little half penny they can find out of you, and fine you, and charge back interest! (I know, I’m in a tax inspection right now!)
Enjoy the journey.
Mandy
Hi Ed wise words!There is lots of information available on what you can claim for on your tax return for HMRC they also send you a rather helpful little book when you register as a business. Drop by my blog and read my post “Beware the smiling assasin” all about Mr Tax.
Keep it up
Rob
admin@robert-corrigan.com
http://robert-corrigan.com
Hi Ed,
Although I have been diligent in visiting all MC student’s blogs, yours must have slipped through the cracks somehow – what a brilliant informative post! Your blog is very nicely put together with a great sense of humor added to it!
Many Thanks,
Svenja
Hi Rob,
I need to do more research for tax purposes ?
TTFN….Ed.
Hi Ed –
Just checking whether the gravatars are working – …
Great post! However, to expand one point you made, just because you source your product from a given country does NOT mean that you can get tax deduct everything if you visit that place. From personal experience I know that the VAST MAJORITY of the trip has to be for business purposes (so you’re flight might be claimable on expenses but your partner’s and your kids won’t be), and KEEP RECEIPTS FOR EVERYTHING.
BTW – if you form a limited company and get yourself VAT registered (on the grounds that we ALL expect to be earning considerable amounts online on day), ALL your sellers fees on eBay are not charged VAT.
Email me again if this gravatar thing doesn’t start working soon!
Cheers!
Sx
Hi Susan,
Thanks for the extra advice there on ye ole tax man the swine, and i will sort the gravatar soon !
Cheers….Ed.
Hi Ed!
Loving the gravatars! Pleased you got it sorted – recommend you set the setting (somewhere on the blog) to show the “anonymous man”, or nothing whenever there’s no gravatar – saves the blank “missing file” look esp on your Recent Comments section.
See ya round!
Sx