Tax Loopholes for eBay Sellers: Pay Less Tax and Make More Money [Paperback]

Diane Kennedy (Author), Janelle Elms (Author)

Book Description

ISBN-10: 0072262427 | ISBN-13: 978-0072262421 | Publication Date: November 1, 2005 | Edition: 1

Hundreds of Legal Deductions for eBay Sellers!

If you’re an online seller, take note: now you can reduce--or even eliminate--the taxes you pay using the insider tips in Tax Loopholes for eBay Sellers. You’ll discover hundreds of little-known, completely legal tax deductions and reporting tips that are unique to eBay and designed to benefit small business owners. Learn what the IRS is looking for when sorting out a real business from a hobby and why it matters.

You’ll get step-by-step advice on everything from setting up your business and getting a business license to creating a bookkeeping system. Use the power of eBay and the tax strategies in this book to increase your wealth, protect your assets--and lower your tax bill.

How much can you fit into your eBay tax loophole?

• Learn what the best tax-advantaged business structures are for your type of eBay business
• Get the free “The 9 Steps to Business Test” to see if your business measures up against IRS guidelines
• Identify and take advantage of hundreds of legal deductions for eBay business owners
• Determine how often you will prepare a sales and use tax report based on volume
• Set up a payroll system with the proper withholding deductions for all employees including yourself
• Create an accounting system to pay bills, input transactions, record sales, keep track of PayPal fees, and balance your business checkbook

Editorial Reviews

From the Back Cover

Hundreds of Deductions for eBay Sellers!

If you’re an online seller, take note: now you can reduce--or even eliminate--the taxes you pay using the insider tips in Tax Loopholes for eBay Sellers. You’ll discover hundreds of little-known, completely legal tax deductions and reporting tips that are unique to eBay and designed to benefit small business owners. Learn what the IRS is looking for when sorting out a real business from a hobby and why it matters.

You’ll get step-by-step advice on everything from setting up your business and getting a business license to creating a bookkeeping system. Use the power of eBay and the tax strategies in this book to increase your wealth, protect your assets--and lower your tax bill.

How much can you fit into your eBay tax loophole?

• Learn what the best tax-advantaged business structures are for your type of eBay business
• Get the free “The 9 Steps to Business Test” to see if your business measures up against IRS guidelines
• Identify and take advantage of hundreds of legal deductions for eBay business owners
• Determine how often you will prepare a sales and use tax report based on volume
• Set up a payroll system with the proper withholding deductions for all employees including yourself
• Create an accounting system to pay bills, input transactions, record sales, keep track of PayPal fees, and balance your business checkbook

About the Author

Diane Kennedy, C.P.A. is the author of the New York Times bestseller, Real Estate Loopholes and the Wall Street Journal and BusinessWeek bestseller, Loopholes of the Rich.

Janelle Elms is the bestselling author of eBay Your Business, a lead instructor with eBay University, and a Silver PowerSeller

Product Details

• Paperback: 352 pages
• Publisher: McGraw-Hill; 1 edition (November 1, 2005)
• Language: English
• ISBN-10: 0072262427
• ISBN-13: 978-0072262421
• Product Dimensions: 9.1 x 7.4 x 0.7 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #306,949 in Books (See Top 100 in Books)
  • #53 in Books > Computers & Technology > Business & Culture > Digital Law
  • #65 in Books > Computers & Technology > Business & Culture > eBay

More About the Author

Diane Kennedy is a CPA, Tax Strategist, Business Owner, Investor and most importantly an Educator. As the author and co-author of 8 books, she discloses the wealth-building, tax-saving strategies that her rich clients use.

She is a past recipient of the Blue Chip Enterprise Award for the small business showing the most entrepreneurial spirit in Nevada, has been invited to the White House for round tables on small business financial issues and provided guidance to one of the first joint ventures from the People's Republic of China. Her testimony was included as part of the guidelines still in force in Beijing for government approved joint ventures.

She and her husband Richard divide their time between Reno, Nevada and their beach-front home in Baja California. She actively supports a number of charities with money and volunteer time including a dog rescue for street dogs in Mexico and several Mexican orphanages. She loves to garden, cook, fish and drink good anejo tequila.

You can find Diane and daily tax tips at http://www.USTaxAid.com and http://www.DianeKennedyCPA.com

Customer Reviews

Most Helpful Customer Reviews

36 of 37 people found the following review helpful:

5.0 out of 5 stars 5+++++ stars!!!!, July 14, 2006

By 

J. Willard (usa) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Tax Loopholes for eBay Sellers: Pay Less Tax and Make More Money (Paperback)

Even if you don't have an Ebay business, this book is so informative for those of us who just don't understand the behind-the-business scene. My husband and I have had a business for years and FINALLY, I now understand what the heck an "S" corporation is and why we have one, as opposed to the "c" corp that we used to have. I HIGHLY recommend this book to ANYONE starting a small business, whether its Ebay or not. Thanks to the authors for putting it in plain English.

12 of 12 people found the following review helpful:

4.0 out of 5 stars eBay Tax Gude is a useful resource, February 22, 2007

By 

John C. Shaffer - See all my reviews
(REAL NAME)   

This review is from: Tax Loopholes for eBay Sellers: Pay Less Tax and Make More Money (Paperback)

For a large volume eBay seller this is a vauable resource. For the more casual seller who sells occasionally or has a smaller volume of sales it is probably not necessary. It is well organized and it is easy to find the tax topic you wish to address.

19 of 21 people found the following review helpful:

5.0 out of 5 stars very helpful, November 2, 2006

By 

J. Baggs (Edison, NJ USA) - See all my reviews
(REAL NAME)   

This review is from: Tax Loopholes for eBay Sellers: Pay Less Tax and Make More Money (Paperback)

As a new e-bay store owner, I was in need of some tax advice. This book gave me everything I needed to know about owning a small business on e-bay. I read it cover to cover the first time and still often refer to it. Highly recommended to anyone who may not know how tax laws work for e-bay sellers.