Hello everyone I am very inexperienced but I have been out of work for almost a year because I have anxiety as well as deal with pain. Last month I decided to see what I could invest some money in so I used some money and started buying cell phones off Craigslist. We are not talking cheap ones. I have paid out in the last month over 3400 dollars in cell phones from 300-600 a phone.
I then put these phones on eBay even though the fees are high I have made profit on every phone. Right now I have 5 phones left and after I sell them I will have total sales of close to 5000 dollars. The problem is it cost me 3500 for the phones.
Here is the problem. All I have is the Craigslist ad that I printed off before I went to buy the phone. I print them off then after they sell I print off the eBay transaction then subtract all fees and I have my remaining profit. The problem is no seller will sigh a receipt of sale. All I have is their phone number and the printed Craigslist ad. Should I give up?
In one year I could have a revinue of over 60,000 dollars but a profit of only 15000 but I am afraid that next year when I have to file and pay taxes which I have no problem they will say a Craigslist ad is not enough and I have to lay taxes on 60-80k and basically lose all profit to taxes.
Would it be a good idea to screen shot text messages saying do we agree on this price? Then print the text message and attach it to the ad? Not very experienced but just wanted to try and do something to make money that I enjoy.
I then put these phones on eBay even though the fees are high I have made profit on every phone. Right now I have 5 phones left and after I sell them I will have total sales of close to 5000 dollars. The problem is it cost me 3500 for the phones.
Here is the problem. All I have is the Craigslist ad that I printed off before I went to buy the phone. I print them off then after they sell I print off the eBay transaction then subtract all fees and I have my remaining profit. The problem is no seller will sigh a receipt of sale. All I have is their phone number and the printed Craigslist ad. Should I give up?
In one year I could have a revinue of over 60,000 dollars but a profit of only 15000 but I am afraid that next year when I have to file and pay taxes which I have no problem they will say a Craigslist ad is not enough and I have to lay taxes on 60-80k and basically lose all profit to taxes.
Would it be a good idea to screen shot text messages saying do we agree on this price? Then print the text message and attach it to the ad? Not very experienced but just wanted to try and do something to make money that I enjoy.
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