I am eBay seller and these are my estimated numbers
Estimated 2023 Gross - 185,406
Estimated 2023 Net from eBay- 105,490
Inventory Expenses 2023- 76059
Net Profit 29,431
This is my 1 full time year on eBay made lots of mistakes but just wondering how much I Should have ready for Taxes in 2024?
Any tips to reduce my bill?
My mileage was around 20k
Have a home office deduction
Thanks for the help
So you had about 80k of ebay fees, right?
By inventory, is that the cost of the items you sold? Or how much inventory you bought, even what didn’t sell?
Was the home office used exclusively for business?
The driving, what kind of driving was it?