Tax Loopholes for Ebay Sellers by Diane Kennedy, Janelle Elms (2005, Paperback)

If you’re an online seller, take note: now you can reduce--or even eliminate--the taxes you pay using the insider tips in Tax Loopholes for eBay Sellers. You’ll discover hundreds of little-known, completely legal tax deductions and reporting tips that are unique to eBay and designed to benefit small business owners. Learn what the IRS is looking for when sorting out a real business from a hobby and why it matters.

You’ll get step-by-step advice on everything from setting up your business and getting a business license to creating a bookkeeping system. Use the power of eBay and the tax strategies in this book to increase your wealth, protect your assets--and lower your tax bill.

Ebay Tax Saving Strategies to the Max

Tax Loopholes for Ebay Sellers should be on every professional ebay sellers desk. It offers many great tips for saving money on your taxes, planning for growth, and maximizing every deduction you can.

Here are just a few of the tax savings strategies you can come away with:

1) Is forming an S Corporation right for you.
2) IRA, 401 K, and Keogh advice for the self employed.
3) Starting and funding a health savings plan if you are self employed.
4) Record Keeping.
5) Ebay accounting...Using QuickBooks,
6) Section 179 Deduction. Write off a new computer, printer, or SUV this year.
7) Deducting automobile, travel and meal expenses.
8) How to properly take the home office deduction.
9) How to write your cell phone off as a business deduction.
10) Deducting vacations by tieing them in to business trips, or conventions such as ebay live, or buying ventures.

The info presented is easy to read, and put to immediate use. One idea should easily pay back the $24.95 you spend on the book.

I have pages and pages flagged on what I need to do to improve my records so I come out ahead in my taxes; record-keeping, filing to be a business, how to read financial statements and so much more. I implemented many of the ideas but I still have a long way to go before I can save thousands of dollars on my taxes. This is a great book to buy for your tax consultant to assist you in your ebay business.

If you want to become a better businessperson or better Ebayer this book will help you learn how. This book sets a foundation for the basics of building wealth. My husband started his own business 2 years ago we changed accountants 3 times and found it very difficult to get the answers to our simple questions. After reading this book I wished we had known about Tax Loophole for the Ebay Seller 3 years ago. We would have saved ourselves endless costly hours asking our accountants (at $150.00/hr.- who bill by the minute) questions and getting inexact or incorrect answers. It shouldn't be so difficult to get straight answers from tax professionals - but it is. Diane Kennedy and Janelle Elms have simplified my life.
So much is covered in this book. She takes you from the basics of starting and Ebay business - which is really any business - and takes you step by step through the process and shows you the choices you need to make. Tax Loopholes for Ebay Sellers is a wonderful primer for any business.
My advice - if you are interested in furthering your business, get this book, implement it and start making more money today.

I bought the book over two weeks ago and I must say it has been the best investment of my life. I started my Ebay business in June 2006 and although I had read extensively on business strategies, business management and business taxes none gave me the insight and knowledge I need it like Tax Loopholes for Ebay Sellers by Diane Kennedy and Janelle Ellms.

This book guides you step by step on how to set up your business to take rightful advantages on business deductions and streamline your business performance for maximum tax deductions. In addition, it shows you how to set up QuickBooks Pro software to do your business files and shows you the advantages of using the software. The best parts are the honest advices, recommendations, the pros and cons on your business strategies and where to go for information. I am very pleased with it. Thank you Diane and Janelle!

I recently bought this book because it is income tax time and time to do taxes. It is an excellent book to help show you the many deductions you can take on your taxes. There is no way a person can think of all these without some help. It is not only great for tax time but also helps with your thinking throughout the rest of the year and how you can prepare ahead and directions you might want to take based on these loopholes. Highly recommended.

As a good ebay member, I will be filling out my tax returns like most other businesses. Understanding the complex tax system can be very time consuming. This book highlights the important things for ebay sellers to consider.

Unlike the book title may indicate, this is NOT a book on tax fraud. Nor is it a guide to scamming the government. It has information on accounting and recordkeeping for online sales. The book has information on legal business and home tax deductions. There are also advanced tax reduction strategies for larger ebay sellers.

If you are going to fill out a tax return, this book will tell you the ebay information that must be included. It will also give you tips on maximizing your tax deductions.

I found this to be a good reference book and it enlightens you. Lucky for me, my copy is signed! The appendix is loaded with sample forms and forms completed as a good example. It also includes links for your specific state. The book also covers basic bookkeeping and record keeping.

I'll quickly sum up what this book tells you to do: hire an accountant and start a corporation. I would skip this book.

This book is a must have for the e bay seller. We learned so much, we feel we are ready for tax time. we now know how to properly prepare for our business taxes.

Wow what a book, if you sell on ebay, and plan to file the long form this book is the tool for you. it will give you hundreds of ideas for legal deductions for the ebay business owners. Should you go LLC or LP? this will give you clues to decide, also plenty of website references are listed to gain more info.

While I love running my own business one area that has always presented a challenge was the accounting and book keeping. My business is solely online and when contacting accountants or CPAs for help in this area I was always greeted with 'the look'. 'The look' being one of doubt and not being taken seriously since I sell 100% online.

Putting that aside I knew running my business online was the way for go for various reasons. However, book keeping was always the most difficult and confusing part!

I bought the book Tax Loopholes for Ebay Sellers by Diane Kennedy, Janelle Elms after seeing a mention that the book provided help setting up Quick Books Pro. And IT DOES!!

Not only that, the book is wrote in simple language which is very easy to understand. The chapters are organized very nicely for quick reference. I loved seeing examples of how federal income tax forms were filled out.

Reading the book, I felt friends were talking to me about business. It is the first book I found that specifically targets online merchants and sales.

I now feel empowered to take charge of this area of business.

I found the book to be positive, upbeat and directly addresses the difficult tasks of book keeping in a clear and easy to understand manner.

Highly recommend to anyone felling overwhelmed and lost in the complex area of taxes, paperwork and requirements of federal and state government. A+++

I bought one of these books looking for tax-related info for a newly started ebay business. On nearly every page it says to hire an accountant, professional bookkeepers, and a lawyer or two or three to help you with your taxes, etc. This is great if you have the $100- $500 PER HOUR that these people will charge you. Also, many of the things they recommend in this book are helpful, but many of them will also be a guaranteed way to get audited every single time by the IRS. Much of the content is overly explained and exampled to death to the point that it gets very confusing, more than it needs to be. If you get off on a tangent by reading one of the 4 page "example" stories you will most likely forget what it was you were reading about in the first place. I know there are dozens of glowing reviews of this book on ebay, many of which look like someone might have been paid to put them together, but take my advice - don't bother with this book. If you are confused about taxes, etc. now, you will be hopelessly lost after reading this book.

ADDITION TO THIS REVIEW - I forgot to mention before, every few pages the book refers to a "companion website" that is supposed to have all kinds of tax forms and other helpful info. The seller I bought a copy of the book from made this feature a big selling point. Well, unfortunately the website no longer exists. I have tried to access it several times and it is just GONE. Doesn't do a lot to boost my confidence in the information in the book. More food for thought...

The URL links are outdated, they no longer work. A lot of reasons I bought this book were for in depth answers, but instead of going into detail, the standard answer is "Consult a CPA". I wouldnt recommend this item.

This book was well worth the time and money if you plan on selling seriously on Ebay. Do not hesitate!

It is fairly simple to understand. I bought this book because the writer of the book was on ebay's site so I trusted what was in the book.

This is a great book with some excellent advice and suggestions. It was a very helpful book Very helpful. If you sell on eBay, then this book is a must have!

I bought this book because it helped me to get my Quicken Pro set up quickly and it is a great help for tax questions I had.

I found the Tax Loopholes for eBay Sellers to be highly educational on my part.From front to back information regarding the tax breaks were over whelming.I definitely have a better idea on what direction I need to go with.The Easy Accounting step by step was very helpful and will eventually save time and money.I will use this book in the future to fall back on with questions and answers.I am more confident about issues of eBay operations.I highly recommend this book to anyone new or old to eBay.The only complaint I have falls back onto myself,not starting out with this book.Thanks Phil

very easy to read and informative, led me to some web sites for help in getting my business updated and into the 21st century!

have not had a chance to use it yet, but all but the tax info look's like will be very helpful if looking to start own business

This book is a must-have for eBay sellers. While some tax books can be dry and text-book-like, this is an easy-read, full of lively and descriptive anecdotes describing various scenarios. The authors cover a great deal of useful information and offer numerous helpful suggestions. This book covers the tax liabilities that we sellers need to be aware of, and also offers ways to increase our profits. By learning how to properly (and legally) use tax write-offs available to us, we can actually keep more of our hard-earned money! I saved a ton of money on my taxes this year, thanks to reading this book in advance of tax-time. I highly recommend this book to all eBay sellers.