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Buying and reselling for PROFITS Thread
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Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57702252 added 02-20-2013 4:26 AM by CoffeePleeze in Archived Deals
Good to know. Thank you. We have a 2000+ sq ft 4 bedroom house with one daughter, so we have two spare bedrooms, a basement, and a front living room doing nothing right now.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57715362 added 02-20-2013 1:47 PM by sd444 in Archived Deals
Make sure you mark this on your return: Would you like a free audit?
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57763238 added 02-22-2013 12:18 PM by CoffeePleeze in Archived Deals
I still plan to do the first two BTW...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57693146 added 02-19-2013 3:35 PM by Millionaire406 in Archived Deals
But that's not what I'm concerned about nor was it the question. I was asking why does camera retailers care if I am writing off taxes or not? I'm buying the cameras from them and paying them...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57746784 added 02-21-2013 6:43 PM by BargainSnatcher in Archived Deals
He is just saying that would throw up a red flag as it looks like you are trying to take the same deduction twice. Are you both using the same space?
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57748914 added 02-21-2013 8:44 PM by MakeitRainDolla in Archived Deals
Depends what you are looking at buying.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57719818 added 02-20-2013 5:18 PM by BargainSnatcher in Archived Deals
What, on Gods green earth, are you talking about?
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57694832 added 02-19-2013 5:00 PM by DWad in Archived Deals
They care because they'd rather sell directly to the customers if possible, and if you're not authorized then that means they don't know whether or not you're a 'quality' seller. They want their...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57696772 added 02-19-2013 6:32 PM by travathian in Archived Deals
Tax reasons maybe? If they consider you a reseller there may be tax implications for them.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57683098 added 02-19-2013 9:10 AM by tennis8363 in Archived Deals
You are not an authorized re-seller. Warranties, etc are not valid.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57683704 added 02-19-2013 9:32 AM by DWad in Archived Deals
If you make over a certain amount of money each year on it, you should be paying taxes on your earnings (and probably have a business license) as trav said. The benefit of doing this is that you...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57773002 added 02-22-2013 9:07 PM by CoffeePleeze in Archived Deals
I never said I didn't have a product in mind, I would rather not disclose it on a public forum, I was just looking for a little advice and insight. I can assure you that the item I have in mind is...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57693720 added 02-19-2013 4:04 PM by BreakingTheBank in Archived Deals
Same as Tennis said earlier. You are not an authorized reseller.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57715468 added 02-20-2013 1:50 PM by sd444 in Archived Deals
:crying: I don't want to pay taxes for the services I receive :crying: Go live in a boat in international waters or move to Somalia.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57713722 added 02-20-2013 12:47 PM by ViciousTide in Archived Deals
Is it legal to sell rocks? I mean technically they belong to the State and the Federal Government right? Bartering and trading shouldn't require a license to do so. Licenses are just more taxes...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57764920 added 02-22-2013 1:23 PM by BargainSnatcher in Archived Deals
Sounds like you have something specific in mind, which changes things. Different things work with different products.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57683376 added 02-19-2013 9:22 AM by travathian in Archived Deals
Uh, business license? Are you charging tax? Are you reporting this income to the IRS?
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57682766 added 02-19-2013 9:00 AM by Millionaire406 in Archived Deals
Anyone in here buy things to resell for profits? I always do and I was wondering the legal issues with it. I ordered 5 Canon DSLR cameras from the Canon store website one time and they kept asking...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57686528 added 02-19-2013 11:05 AM by travathian in Archived Deals
Oh, and as far as the legality, no idea, but the company can simply refuse to sell to you at some point.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57748686 added 02-21-2013 8:30 PM by CoffeePleeze in Archived Deals
No, I would keep them separate. Neither of us have started anything, but are considering it. While I have the floor, does anyone here sell items in a group buy style... ie lets say 25 local...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57749432 added 02-21-2013 9:17 PM by BargainSnatcher in Archived Deals
What Wild Chicken said, depends on what it is and the savings. It wouldn't be worth the hassle for a HDMI cable or something.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57772524 added 02-22-2013 8:34 PM by CoffeePleeze in Archived Deals
Yes I do, and I feel that there is a hole that I can fill by buying in larger quantities than the average Joe would, combining shipping and selling it locally. Without going into detail the item...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57693104 added 02-19-2013 3:33 PM by Millionaire406 in Archived Deals
Yeah but that's the problem with my buyers not the company that sells me the cameras, why would they care? None of these issues have anything to do with my suppliers though, why would they...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57700390 added 02-19-2013 10:19 PM by BargainSnatcher in Archived Deals
Why would there be? What happens to the product after Canon sells it has no impact on Canons finances. Its probably just an authorized seller thing.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57700792 added 02-19-2013 10:57 PM by Millionaire406 in Archived Deals
I understand that Canon would feel the same way of what you said but what about regular retailers? LIke for example BeachCamera or B&H or Adorama, they sell it other customers is the same price as...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57747064 added 02-21-2013 6:57 PM by MakeitRainDolla in Archived Deals
Shortly thereafter, Marc and Vinit purchased the domain name and telephone number for 1800DIAPERS. They worked nights and weekends and enlisted a friend with her own family to answer customer calls...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57747880 added 02-21-2013 7:39 PM by sd444 in Archived Deals
And they used a resale certificate. This has nothing to do with the OP who is skipping paying taxes completely for "PROFITS."
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57747916 added 02-21-2013 7:41 PM by MakeitRainDolla in Archived Deals
Why wasn't i driving around buying diapers in 2006...True about the resale cert and True that this is totally unrelated to anything other than they made mad bank off reselling.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57762180 added 02-22-2013 11:40 AM by CoffeePleeze in Archived Deals
Thank you for the positive and honest reply. Group buys would be tough to coordinate, it would be better with friends or people you know and trust. I guess I was trying to avoid keeping inventory...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57762370 added 02-22-2013 11:47 AM by MakeitRainDolla in Archived Deals
Thank you for the positive and honest reply. Group buys would be tough to coordinate, it would be better with friends or people you know and trust. I guess I was trying to avoid keeping inventory...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57760748 added 02-22-2013 10:42 AM by BargainSnatcher in Archived Deals
I can't see it working. When you see "shipping kills the deal", its because its a cheap item that became more expensive with the shipping. i.e. a DVD that cost $5 which may be a good deal, but the $3...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57763024 added 02-22-2013 12:10 PM by CoffeePleeze in Archived Deals
Thank you for the quick reply. This really does show the benefit of creating a potential business plan to identify pot holes or things you don't account for when planning a small business. It is easy...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57772778 added 02-22-2013 8:53 PM by sd444 in Archived Deals
First you had no product and now you do? What is it? Model rocket fuel? Insurance and storage for hazmat materials in large quantities? City, county, state, federal regulations for...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57685596 added 02-19-2013 10:32 AM by CoffeePleeze in Archived Deals
And I believe that for 2013 you can claim a standard "streamlined" home office exemption @ $5 sq ft up to 300 sq feet, or $1500.00. ...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57704654 added 02-20-2013 7:14 AM by travathian in Archived Deals
Are you a tax lawyer? A professional distributor/reseller? No? Neither am I and neither is the OP, and no one here has any true answers for the OP. It is up to him to do the research to keep his ass...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57722660 added 02-20-2013 7:48 PM by CoffeePleeze in Archived Deals
I thought it was a legitimate question? Sent from Slickdeals App for iPhone & iPod Touch.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57702490 added 02-20-2013 4:57 AM by saladdin in Archived Deals
If one "home business office" deduction is a red flag, I'd guess claiming 2 would be DEFCON 1. If you are doing everything by the book, then no problems. But I prefer to stay under the radar with...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57712452 added 02-20-2013 12:01 PM by BargainSnatcher in Archived Deals
You could probably write a book on the reasons. Here are a few that spring to mind.... - They are concerned they may end up on the grey market in european countries - You are buying from their...
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57711410 added 02-20-2013 11:26 AM by BargainSnatcher in Archived Deals
Actually, i am a professional reseller, and have experience as a exclusive distributor too. Interesting the assumptions people make.
Buying and reselling for PROFITS Thread
Expired
Thread created 02-19-2013 by ToToToToToRo
0 Score 40 Replies 5,752 Views
Post #57701032 added 02-19-2013 11:30 PM by D1337 in Archived Deals
Not the same room, and you cant use the room or any other business items for personal use.
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