Today I was checking out a co-worker's bookshelf and noticed an interesting book:

The Ebay Seller's Tax and Legal Answer Book: Everything You Need to Know to Keep the Government Off Your Back and Out of Your Wallet.

I very rarely would suggest any book to anyone, but I thought this is worth sharing. I know many folks who collect cards (and members of this site) sell stuff on eBay as a hobby,  supplemental income, or for their full time job. This book is very helpful to help anyone get an overview of what the tax obligations are for seliing anything, and hopefully can keep folks out of trouble.

The book is going for $12-$13 on Amazon (cover price is $19.99) and is written in Plain English. I am no accountant, lawyer, rocket scientist, etc., but I could easily understand the topics and found it valuable. If you are in Barnes & Noble or Borders and happen to see this one, you may want to open this up and check it out.

Book Description
Anyone running a wholesale or retail business must deal with legal and tax issues, and those who sell on eBay are no exception. Yet many eBay sellers remain ignorant of the consequences they may face if they disregard certain basic rules. Packed with stories of actual eBay sellers, this helpful guide takes readers through the most common eBay transactions, pointing out all the legal and tax issues they may encounter along the way. Readers will get practical advice on:

• whether their eBay selling qualifies as a "business"
• illegal practices to avoid 
• what taxes must be paid and what they can and can’t deduct
• spelling out a refund and return policy
• knowing when a bid becomes legally binding
• resolving seller-buyer disputes
• protecting themselves when buying inventory and hiring employees
• trademarking a business name and web address
• customs, duties, and other considerations when selling internationally.

Complete with sample contracts, forms, checklists, and disclaimers, this is a book no eBay seller should be without.

About the Author
Cliff Ennico (Fairfield, CT) is a lawyer specializing in legal and tax issues for small businesses, and is a popular instructor at eBay University. The host of the PBS show MoneyHunt, he is a frequent contributor to Entrepreneur magazine and the author of Small Business Survival Guide. His weekly syndicated column Succeeding in Your Business appears in dozens of newspapers and websites.

PRINT  |  PERMALINK        

Recent Topics

Month List