Comic book selling and taxes 0

[smith0116]

HI I believe  I may make about 11K this year from selling comics on ebay .I am am trying to decide whether I should pursue a sellers license or permit .Any suggestions?What the write offs off  set the profit to help with the taxes I would owe?

[jokiing]

Great question.... and good timing since, here in tax hungry California, the state is starting discussions on internet sales tax....

[jmg3637]

When you say MAKE what do you mean?  Is that gross revenue?   This most important factor is the cost of the goods sold, which is of course reduces the revenue as does all other expenses associated with producing the revenue

[shadroch]

Lose money on every sale, so there are no taxes. Make it up on volume.

[thunsicker]

Interesting I haven't sold much and what I've sold has been for minimal profit, but I've wondered about this.  Are comic profits considered capital gains or income?

[WoWitHurts]

6 minutes ago, thunsicker said:

Interesting I haven't sold much and what I've sold has been for minimal profit, but I've wondered about this.  Are comic profits considered capital gains or income?

Simple income.

[Bomber-Bob]

On 7/28/2018 at 12:43 PM, smith0116 said:

HI I believe  I may make about 11K this year from selling comics on ebay .I am am trying to decide whether I should pursue a sellers license or permit .Any suggestions?What the write offs off  set the profit to help with the taxes I would owe?

Well you already made a big mistake by mentioning your profit on a public internet site. Be stealth about financials.