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http://www.flickr.com/photos/calvindog/sets |
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With perhaps a few exceptions, I don't think any one auction, or the habits of any one bidder, are enough to draw conclusions. But when one sees patterns, auction after auction, month after month, year after year, bidder after bidder, one does get strongly suspicious. And Jesse, no worries.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-19-2015 at 11:39 AM. |
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As an example, I had a lower priced item returned back to me recently. Ebay, due to some system glitch, would not allow me to request a FVF credit or provide a refund through their system because the buyer opened and then closed a return request before the item arrived back. I simply wrote off the very small FVF credit and refunded the buyer through paypal. This item is still marked as paid with ebay, however, I refunded the buyer. I clearly would not rely on ebay in this situation if I was faced with a tax auditor as the sale would still be showing as "completed". I would however, show the auditor my PP refund(which is linked to the original transaction). What matters to auditors in regards to an ebay business is the paper trail that is created in either paypal or a bank account that shows an actual payment received thus creating a taxable "transaction", as I am pretty sure that no state is not going to impose a tax on a "commitment to buy" made through ebay that may not ever be paid for. I also highly doubt that an auditor is going to waste their time pouring over ebay records of commitments to buy, but instead they will review actual payment transactions made through paypal and deposits into bank accounts. |
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As far as outgoing payments, I use one credit card for all expenses, such as inventory, supplies or paying bills like my ebay (fees) bill. Since I keep all outgoing payments for ebay only expenses on one account, it is quite easy to forward these expenses at year end to my accountant for accurate tax preparation purposes. |
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