business records for self employment

[tjm_creations]

Hello,

I had to quit my job this year because of medical problems so now I'm selling on eBay to have some kind of income coming in, while working I was getting snap, medical and LIHEAP anything on eBay that I can use to send them? Right now, I don't have enough money to hire a CPA.

Thanks, in advanced

[ebooksdiva]

This may help, you can change the dates in the calenders.

Seller Hub | Reports financial overview | eBay

[soh.maryl]

Don't understand your question.  Why do you need to hire a CPA?

We'd really like to help, but unsure what kind of help you need.  

[dhbookds]

many local libraries sponsor free tax help.......if that's what you mean.......

[tjm_creations]

For me to complete my application I have to send them my income, I did get paid from my job in july but what I want to do know is show them that my income comes from online, I did net about 900.00 last year. I wrote about CPA cause I everybody giving that advice.

[1tuna]

it sounds like you dont know what to do as far as taxes and filing taxes goes

in a nutshell you will need to become familiar with schedule C

that is where your profit and losses and all your business deductions come into play

its also where you have to figure out the double social security or self employment taxes.

the numbers from this page will then go onto your 1040 and then its sort of a normal return

every year I deduct the same exact things 

mileage

hotels 

meals 

airline tickets

trade show fees

internet fees

professional association fees or dues

there are many items you can use to knock down the profit on schedule C

@tjm_creations 

[tjm_creations]

[1tuna]

this is my list of things I always deduct

hotels

packaging

office supplies

computer 

ebay fees

postage

newspapers-auction notices

tolls

airfare

food

church

NAWCC IWJG  WWT fees

mileage

comcast

phone

[dhbookds]

For me to complete my application

What application are you talking about?

[tjm_creations]

I think I wrote the wrong title for this. I need to show what my income is now from the choices of documents from the page above. The 1040 and schedule C would that be proof of income once filed?

[mmadigan · Accepted solution]

Business records is one of the acceptable documents you can provide.  If your total income is from Ebay you could print out an Ebay report showing sales and fees.  From this number you can deduct any expenses to get at profit (income) and turn in a summary report

I suppose you could also provide a copy of your deposit information from your checking account showing Ebay deposits and report it as income.  It would be a little high but I doubt it would be high enough to disqualify for SNAP

The easiest way would be to do your taxes now and report your Ebay income on your taxes and turn in the completed tax form.

[tjm_creations]

Thanks, waiting on my w 2 form from my job.

[pburn]

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@tjm_creations wrote:

I think I wrote the wrong title for this. I need to show what my income is now from the choices of documents from the page above. The 1040 and schedule C would that be proof of income once filed?

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@tjm_creations 

Wouldn't the 1040 and Schedule C fall under the "Tax returns or business records for self employment" category on your chart?