Welcome to my eBay Accounting Lens!
Do you need accounting or bookkeeping tips for your eBay business? This is the place to be!
My name is Kristine McKinley. I am a CPA and Certified Financial Planner, and the founder of Beacon Financial Advisors, a fee-only financial planning firm in Missouri.
I specialize in offering tax planning and advice to eBay sellers and other online business owners. For tips, tools and articles on eBay and taxes, please visit my eBay Tax Tips lens or my Tax Tips for eBay Sellers blog.
In order to do tax planning for your eBay business, you must have good accounting records! This is easier said than done, so this lens will provide articles, tips, tools, software recommendations and more to help you keep good books for your eBay business.
Tax Tips for eBay Sellers - Free Special Report
Announcing the free 'Tax Tips for eBay Sellers' special report! This eBay business tax guide will show you:* Whether you're required to pay income taxes on your eBay income
* How to qualify for and deduct your home office
* About self employment taxes and how to minimize them
* The most common deductions available to eBay sellers
* How to value your inventory for your tax return
* All about estimated tax payments including when & how to make them
* And more!
Claim your free 'Tax Tips for eBay Sellers' special report here!
Do You Need a Tax ID Number for Your eBay Business?
Sole proprietors are not necessarily required to get a tax identification number, but it may be a good idea to have one.A tax identification number or an EIN (employer identification number) is a nine-digit number that is assigned by the IRS to businesses to be used when filing tax returns, hiring employees, and for setting up qualified retirement plans. Many banks require an EIN to apply for a loan or to setup a business bank account as well.
Click here to continue reading...
Free Tool: Auto Mileage Log
In order to take the automobile deduction, you should keep track of your business miles. The best way to do this is to keep a mileage log in your car and record every business related trip you take.
Your mileage log should include the date, the purpose of your trip, your beginning and ending odometer reading, and the total miles for that trip.
I have created a mileage log for you to use, which you can download here:
Mileage Log
Bookkeeping Poll
New! How to Hire Your Kids in Your Small Business!
Would you like to reduce the taxes you pay on your small business income? Would you like to keep your children busy, and learning valuable business skills at the same time? Would you like to build your family's wealth?What if you could reduce your taxes, build wealth, and teach your children about business - all at the same time?
You can! Hiring your children in your business is a legitimate business strategy, and it has many benefits as well!
Announcing "How to Hire Your Kids in Your Business: A Step by Step Guide"
Click here for more information...
New! Tax and Accounting Solutions for eBay Sellers.
I have been answering questions about eBay and taxes on my blog, my squidoo page, and on several eBay membership forums for a while now, but as the questions keep coming, I realize that eBay sellers need more help than I can provide on a blog/forum.
As a result, I am now offering the following services to help other eBay sellers with their financial and tax planning needs:
New Business Consulting - This is a one-hour consultation to address your most pressing financial questions about starting your eBay business. Topics discussed will include business entities, estimated tax payments, tax ID numbers, filing sales and income tax returns, common business deductions for eBay sellers and more.
Tax Preparation - Year round tax preparation is available to eBay sellers who operate as a sole proprietor or an S Corporation. As a CPA, an eBay seller, and a home based business owner, I understand the unique tax needs of eBay sellers.
Tax Planning - Tax planning is an important part of any small business, as good tax strategies can minimize your tax liability, thus allowing you to keep more of your profits. Tax planning includes estimating your quarterly tax payments, making sure you get all the deductions you are entitled to, and exploring tax saving strategies such as hiring your children in your business.
Bookkeeping and Accounting - Do you know how much your business makes? Do you know where you spend your money? Keeping good accounting records is important because it helps you know where your business stands at all times, alerts you to any cash flow or other problems, helps you maximize your tax deductions, and it frees up your time to spend on income generating activities.
For more information about the services above, please email me at kristine@beacon-advisor.com.
Recommended Accounting Software
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EBAY accounting lens !!! what an original one.. Posted April 03, 2008 |
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mandyc008
Hi, thanks for the information. It is really important in business that we keep track of our inventories so to speak and in this field we have lots of competition so in order to get one step ahead one must stay organized. I have similar article which does just that in inventory management software . Thanks a lot of heaps for your lens, very helpful. Posted March 28, 2008 |
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emilyb23
Hi, Posted March 25, 2008 |
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emilyb23
Who are we? Posted March 25, 2008 |
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QuickBooks-Credit-Card-Processin
In case someone is watching their money and does not want to pay $199.95 for QuickBooks, now they can get free QuickBooks 2008 accounting software FREE www.intlcardservice.com . It is not a trial or limited version, we give away the QuickBooks Pro 2008 or upgrade with a completed merchant account. Posted January 18, 2008 |
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