http://internetbiztaxtips.com/2007/03/qa-do-i-report-my-ebay-activity-as-a-hobby-or-business/ Tax Tips for eBay Sellers, Online Business and Other Small Business Owners Wed, 03 Mar 2010 01:32:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://internetbiztaxtips.com/2007/03/qa-do-i-report-my-ebay-activity-as-a-hobby-or-business/comment-page-1/#comment-10 Kristine Wed, 17 Oct 2007 10:25:21 +0000 http://internetbiztaxtips.com/2007/03/qa-do-i-report-my-ebay-activity-as-a-hobby-or-business/#comment-10 Thanks for the comment Madeleine! And you are correct, good records are a must if you are a small business owner. Keeping good records will make sure you get all the tax deductions you are entitled to, and it will help you know where your business is at all times. Thanks for the comment Madeleine! And you are correct, good records are a must if you are a small business owner. Keeping good records will make sure you get all the tax deductions you are entitled to, and it will help you know where your business is at all times.

]]> http://internetbiztaxtips.com/2007/03/qa-do-i-report-my-ebay-activity-as-a-hobby-or-business/comment-page-1/#comment-9 Madeleine M. Wed, 17 Oct 2007 09:51:43 +0000 http://internetbiztaxtips.com/2007/03/qa-do-i-report-my-ebay-activity-as-a-hobby-or-business/#comment-9 Keep in mind though, If you decide to be a 'business' and not a 'hobby' you need to keep very good records. Additionally, as a business, if you have losses (which you can write off when you are a business) for more than 2 out of 5 yrs the IRS will possibly flag you for an audit. Keep in mind though, If you decide to be a ‘business’ and not a ‘hobby’ you need to keep very good records. Additionally, as a business, if you have losses (which you can write off when you are a business) for more than 2 out of 5 yrs the IRS will possibly flag you for an audit.

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