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ALTERNATE WORKING TITLE: How to not get dropped like a Hot Potato by your Accountant and Income Tax Preparer

I shudder to think how many people are making money online selling items on Ebay and collecting payments using Paypal .. and are not reporting the income on their tax return.

It’s OKAY to sell some junk and personal items that you own on Ebay to help recoup the costs of other purchases that you may have .. and you probably don’t have to report the transaction. However, if you are buying and selling products on Ebay for profit .. you are a small business and must report your net earnings on your tax return.

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I recently picked up a new monthly account and my client asked me the following two questions ..

(1) What do you need to get each month?
(2) What do I get back from you each month?

I pretty much explained it to be similar to what you will read below the fold. If this type of stuff interests you, you can hit MORE to continue .. or go to the next post upwards!

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