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What kind of licensing do I need for an Ebay Business?
I want it to be a legitimate business. I know I will need a tax ID number, register my DBA, and I am lost after that.
Will I need a special license to conduct business out of my home?
And are there classes available for me to learn about proper tax practices for my business?
Thanx
1 Answer
- 1 decade agoFavorite Answer
You really don't need any of that. You will need to set up a PayPal account...which is free. PayPal doesn't charge you anything to pay others, but there is a small fee to accept payments. it is @ 2% of your sale, plus 35cents. It depends on what kind of account you open . There are personal accounts and business accounts. PayPal, and also Ebay allows you to print out and view reports for Tax purposes.
You can choose not to accept PayPal Payments, which means you do not have to set up a PayPal accout...but I strongly suggest it. People can pay you through Paypal's secure site, and you never see their credit card, or bank information, so you get a lot more people that will bid on your auctions. But if you go to Ebay site, and jusy set up an account, they will give you all the info also.
You will also need a scale to weigh your pagages. I suggest one that holds up to 30 pounds...you can find one on Ebay...under shipping supplies. If you are going to send packages priority mail, you can log on to USPS.com, and order boxes, envelopes etc for free. They will also deliver them to you for free. You can also set up a free account with UPS. Your rates are discounted depending on the volumn you have going out. I suggest a digital cameral. It makes taking pictures of you items so much easier and faster.
I also print my own labels right from my computer. That is another advantage of PayPal. But even if you do not have paypal, you can set up an account at USPS.com, so that you can print labels at home...it is called "Click and Ship" . If you print out your own labels, package them up at home, and request a free carrier pickup...you never have to leave your home. (this is for priority mail service).You will also need to keep your cut off copy of the click and ship label for tax purposes. Keep ALL RECEIPTS
You can also deduct certain costs of your utilities. I'm not sure how to do that, but you can get publications off of the IRS website...www.irs.gov
You will need to get the "Tax Guide for Small Business", pub. 334, and" Business Expenses" pub. 535
If you need any more info, please feel free to email me.
Source(s): PayPal and Ebay