Do you want to make more money selling on eBay?
Would you take business advice from a guy who sells bootlegged CD’s out of his trunk? Sounds like a silly question, doesn’t it? Well, don’t make up your mind too quickly. Let me tell you a story.
I used to work at a convenience store. When I first started, there were these two guys who came into the store.The bigger guy carried a black binder, that he held snuggly under his arm. “Do you watch movies,” he asked the girl I was working with. “Sure.”
And, that was all it took. He spread the contents of his binder across the counter, and started showing us his DVD’s. “Three dollars each, two for five dollars. Five for ten dollars. You won’t get a better deal anywhere.”
Those few words were all it took to get our money, and ten or twenty dollars more from several of our customers.
So why did I tell you that story?
Like most people, I can’t say no to a great deal. Only problem is, what seems like a great deal can quickly go sour.
When I got home, and we started watching those movies, the picture was bumpy, at times the picture or sound dropped out, and every now and then, someone would get up, and walk across the screen in front of the movie.
Those movies taught me a valuable lesson.
You can buy stuff on the cheap, but that’s all you’re going to get. Cheap stuff.
The same goes for advice. There’s a lot of free advice available on the internet, but a lot of it is overpriced, even when you’re getting it for free.
When I first started selling online, I got all of my tax advice from blog posts. One of things every blogger said was, “Don’t take the home office credit. It’ll trigger an IRS audit.”
I followed that advice the first couple years I sold online. I know I didn’t want to risk an audit.
Several years later I found an accountant. When he suggested I take the home office deduction, I looked at him like he was some sort of killer clown from outer space.
I asked if he knew how dangerous his advice was? I explained how I didn’t want to trigger an audit. I asked just what kind of professional was he to suggest such a thing?
And, that’s when I discovered this one truth that will help you make more money from your online business.
Not everything you read on the internet is true!
Shocking advice, but I stand by it.
I’ve been selling online for fifteen years now. During that time I’ve learned a lot about bookkeeping, business permits, and taxes.
During that same time I have saved thousands of dollars in taxes by saving my receipts and keeping good records.
And, so here’s the deal…
> Did you know eBay has an app that can automatically import all of your sales, fees, and other information and crunch the numbers to show whether you’re making a profit or loss?
> Did you know that same app will also import all of your information from Etsy and Amazon, if you sell on those platforms?
> What would you say if I told you that you could save $500 or more on your taxes every year just by writing down the mileage when you head to the post office, store, or bank?
> And, you’d probably think I'd lost my marbles if I told you that you could deduct parts of your next vacation from your taxes.
It seems hard to believe, doesn’t it?
The last thing I need to tell you is I’m not a bookkeeper or tax professional. I didn’t study accounting in school, but I have kept my own books for fifteen years. I do my own taxes, and have them reviewed for accuracy by a professional. That one step saves me hundreds of dollars every year, while lowering my contribution to my accountants new Mercedes fund.