Reselling questions?
Hello,
I'm a student and practically unemployed, and I'd like to start reselling alongside my studies, but I have a few questions. I'd like to register a small business for this soon. I plan to buy several items on eBay Classifieds and then sell them again for a little more money. For example, if I buy several items for €1,000 and then sell them again for €1,500, what do I need to keep in mind?
If I pick up goods from a private individual, what do I need to consider? Can I simply pay in cash and take the goods with me, but then I won't have any proof to present to the tax office.
What about selling? Do I have to issue an invoice if the buyer comes to pick it up from me or if the buyer pays me via PayPal? I sell without VAT as a small business owner.
What happens if I sell the goods on platforms like rebuy, etc.? What do I need to consider?
Or is it sufficient if I simply record all sales and purchases in an Excel spreadsheet, just the € amounts with the corresponding dates? You have to do the income surplus calculation once a year.
Besides, I will only win minimal amounts anyway, I think up to €5000 per year.
I'd love to get started, but all the questions are slowing me down a bit because I don't want to get into trouble with the tax office.
(1 votes)
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There is no, there is only one Industry.
There is no:
The platform means Classifiedswithout eBay.
But as always, then again the long version:
You need to sign up a trade once a Winner intention and you sustainable want to act, from the first day to.
This is the case with you, and of course you must also tax your revenue.
And no, the amount of your revenue plays in it at least no matter tax is not the same as Tax payable.
Click: When do you need to register a business?
Click: Commercial Code
This applies primarily to sales on eBay, but also in most other cases:
Click: When do I trade?
Click: Legal information for commercial seller
Founded (!) commercial knowledge (a.k.a. about imprint obligation, right of withdrawal, competition law, product liability, product liability/ warranty, product safety law, GDPR, packaging regulation, taxes, insurance, health insurance etc.) For your part, such a project is a basic requirement; and for eBay, classifieds and all other sales platforms and PayPal is of course also a basic requirement. Commercial account mandatory.
By the way:
A violation of the obligation to inform you up to 50,000,00 € cost.
And yes, the number of zeros is completely correct:
Click: All about the imprint obligation
If you lack this knowledge – and after that it looks sadly at you – then you should first Foundation Seminar visit your IHK so that at least once you master the commercial foundations, otherwise you will fail mercilessly.
Click: Start-up Seminar
And I the competent authorities now have quite amazing possibilities…;-)
‘Whoever sells more than 30 articles per year in the future, or takes over 2,000 euros, whose data the platform operator must transmit to the financial authorities’.
Click: Platform Control Transparency Act
Click: Digital platform operator reporting obligations (DPI/DAC7)
Click: When the tax office simulates online sales
Click: tax evasion as a seller on eBay and Amazon that threatens you
Click: eBay-Urteil: Entrepreneur
Internet trading is a shark basin. And you’re not the shark.
you need a business first. What you can buy from private individuals can you bring into account via own documents, i.e. notes, purchase price, what has been bought, date (or if known yet the seller). Always sell with invoice, without sales tax if you are subject to the small business organization scheme (in your case it actually makes sense).
All revenues/expenditures as you have already written add in an Excel table and at the end transferred from this so-called income income statement to income tax in the case of independent activities. That’s it.
Basically, it is of course not a bad idea to let the seller sign a receipt.