Suzanne is participating in the Good Karma Experiment on Facebook, and is hoping her guide can help people who have lost their jobs, taken paycuts, or who are otherwise struggling financially learn how to make extra money selling on eBay.

Suzanne is a power eBay seller, consultant and author.  You can find more tips about selling on eBay at her blog, eBay Selling Coach.

Related Posts:

• The eBay Selling Coach is Grilling Me on Taxes
• Free Teleseminar – Your Top Tax Questions Answered!
• List of Tax Deductions for Online Biz Owners

Image via CrunchBase

I will be on the eBay Selling Coach’s internet radio show on Friday, January 16 to talk about taxes for eBay sellers. The show airs at 1:00 PM, Eastern Time.

Click here for details on how to listen or call in with your questions. The show will be recorded as a podcast, so if you miss it, you can listen as soon as the podcast is uploaded.

*** If you missed the live call, you can listen to the recording here. ***

Related Posts:

• PayPal and Ebay Must Report to the IRS
• List of Tax Deductions for Online Biz Owners
• The IRS and eBay: Tax Season Is Here

Attention bloggers, coaches, eBay sellers, affiliate marketers, and other online business owners…

* Do you worry that you’re paying too much in income taxes?
* Do you worry that you’re not getting all of the deductions you’re entitled to?
* Do you want to learn how to pay fewer taxes and keep more of your profits?

Announcing the Free teleseminar, ‘Your Top Tax Questions Answered’!

Join me on Thursday December 18th at 1:00 CST for this exclusive teleclass, to answer your top tax questions!

Click here for more information and to sign up today!

Related Posts:

• Getting a Large Refund? Time to Adjust Your Withholding.
• Get The ‘Stay At Home Moms Guide to Successful eBay Selling’ Free!
• The eBay Selling Coach is Grilling Me on Taxes

A:  You are allowed to deduct expenses against your business income as long as they are ordinary and necessary for your business.  This basically means that if it’s a common expense for your type of business and it’s necessary in order for you to run the business, it’s probably deductible.

If in doubt, write it down, and let your accountant decide if it’s deductible.

Here is a list of the most common deductions that online business owners typically will have:

* Inventory
* eBay fees
* PayPal fees or shopping cart fees
* Shipping fees and supplies
* Postage
* Office supplies – pen, paper, toner, folders, etc.
* Advertising – Google Adwords, ezine ads, website
* Mileage – use your car for business purposes
* Phone – cell phone or second line
* Bank charges – business checking account
* Accounting and legal fees
* Computer and software
* Internet, website and faxing services
* Contract labor – VA, coaches, web designer
* Furniture and office equipment
* Membership fees – Mom Masterminds, Client Abundancing Coaching Cafe, Jimmy Brown’s List and Traffic, etc.
* Continuing education – ebay classes, accounting classes, marketing classes
* Home office expenses – will discuss in detail later

This list is not all inclusive, there are a lot more expenses you could incur, but these are the most common deductions that online and home based business owners will have.

=> Free report – Top 5 Tax Saving Tips for eBiz Owners

Are you paying too much tax on your online income?  Are you getting all the deductions and credits you are entitled to?  Do you want to learn how to minimize your taxes and keep more of your profits?  Get all your online biz tax questions answered in this exclusive audio and report just for online business owners.

Related Posts:

• Can I Deduct Internet and Phone Expenses?
• What’s the Best Way to Keep Track of My Income and Expenses?
• Do I Need to Make Estimated Tax Payments?

I wanted to let you know about a new site – AuctionSelling101.com – that is coming out on the 31st of this month.

This is a new eBay learning site that includes step by step videos, private discussion forums, a 120+ page handbook, and a webinar room where the instructors will give *LIVE* support.

I have had a chance to review this site, and was impressed by the number of videos, audios and other tools for new and experienced eBay sellers.

Click here to learn more!

Related Posts:

• Get The ‘Stay At Home Moms Guide to Successful eBay Selling’ Free!
• The eBay Selling Coach is Grilling Me on Taxes
• Free Teleseminar – Your Top Tax Questions Answered!