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Forum
-> Working Women
-> Work at Home Mothers
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amother
Gold
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 Wed, Jul 13 2016, 11:16 pm
I have this idea to make a bit of extra money. I want to sell clothing-particularly nicer used plus sized clothing (think: from Lane Bryant, Dress Barn, Catherine's, Macy's, Old Navy) online via eBay and Facebook (through creating a sale page on Facebook). I have quite a bit of clothing all ready to go, and have thought about building my inventory by purchasing items at thrift stores or via craigslist.
My question is, does this sound like something that I would need a permit for? The sales would all be online and most likely it wouldn't make all that much money, just enough to have a bit of extra spending cash.
Tia for any help!
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amother
Amethyst
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Wed, Jul 13 2016, 11:26 pm
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No you don't need a permit or license. I think by law you have to pay taxes on any profits over $15,000 a year.
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amother
Crimson
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Wed, Jul 13 2016, 11:34 pm
If you're not opening a business bank account or using a DBA, don't think you need a permit or license.
Of course, you do have to declare all of your income on your tax return.
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TwinsMommy
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Thu, Jul 14 2016, 12:01 am
for ANY amount of $ you need to do taxes--- perhaps a schedule C sole prop in your case though is most likely.
look into the technicalities of remitting sales tax in your situation. My guess is that you'd absolutely have to charge and remit sales tax.
And I guess you wouldn't HAVE to have a separate bank account but it would surely make your life easier if you could pay yourself FROM your separate account (doesn't need to be a business account, just a separate checking account) so that you can most easily separate out your expenses, inventory replenishment, and profit. For instance in one of my businesses I have a separate checking account from which I attempt to pay myself 40% while taking 50% for inventory replenishment, 5% for advertising and 5% for sales aides/samples/supplies. You might need to figure a certain percentage for hangers, mannequins, advertising, etc.
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TwinsMommy
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Thu, Jul 14 2016, 12:01 am
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ps--- why are you all anon? Is selling clothing embarrassing? Can't imagine why.
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