It’s that time again….time to render unto Uncle Sam what is his; in other words, it’s time to file your income taxes for 2012 and you might appreciate some help available with this grim task for eBay dropshippers.
There are so many fantastic advantages and benefits to working from home and being your own boss; one of which is having a plethora of legitimate tax deductions!
Understanding what you can claim and write off your gross income is vitally important. If you aren’t familiar with all of the deductions available for the self employed and small business owner, you’ll be leaving money on the table by failing to get those exemptions deducted from your gross income, thus lowering the amount of your tax liability.
How to Learn About Tax Deductions for eBay Dropshippers
So, what’s an eBay dropshipper to do?
Where can you turn to get the scoop on all of the legitimate tax deductions you’re entitled to claim as a work from home eBay dropshipper?
Fortunately, you have several resources to help you navigate the shark infested waters of the IRS and best of all---they’re free! Here are a few free resources to help you learn and understand what deductions you’re eligible for as a self employed small business person and eBay dropshipper:
IRS Small Business and Self Employed Tax Center :This one can be immeasurably helpful to you, provided you make less than $10 million a year on eBay, and if you’re making that much, you don’t need to be doing your own taxes anyway---you need a CPA. Anyhow, this resource is very handy and packed with all kinds of great info that will help you get every penny written off that you possibly can. One of the best things found here is the A to Z Index for Business. It lists virtually every subject you might need clarified.
Free Outright Account: This an eBay service that automatically organizes all of your eBay, Paypal, credit card and bank transactions, and puts them all neatly in one place. It's a tremendous help when tax time rolls around.
Outright Tax Resource Center: It’s jam packed with a ton of great info, such as how to avoid being audited, bookkeeping tips, small business bookkeeping and a lot more. It’s free, so you can really ramp up your bookkeeping without hiring an accountant.
TurboTax: TurboTax offers a great lineup of tax tips for those with home businesses, such as eBay dropshippers. There is info for filing this year as well as handy tips to start you out right in the new year., for next tax season.
Savings Highway Tax Tips: You’ll love this one! It’s absolutely loaded with good tips to help you get every deduction you’re entitled to! For example, did you know that if you have a child at home between the ages of seven and eighteen, you can legally pay him/her a wage with no tax withholding, the child is not subject to child labor laws, the cost is 100% deductible to you as a business expense, and the income is 100% tax-free to the child? This is fabulous news for WAHMs and other parents who are eBay drop shippers working from home, or with any home business.
Check out some of these free tax help resources today and see how eBay drop shippers can claim many legitimate deductions with a home business!
Start your own online dropship business today!