LEGAL STUFF

Now if you choose to go into this venture there are things you will need to protect yourself. The first thing is to contact your local business license office and tax department. You need to find out what they require. Many try to go into this business and act like they are doing it as a hobby or just casual sales. I can tell you this don't RISK it. if you buy units or items at auctions and resell them more then three times a month your in business, acting like you don't know it is a business won't float when the authorities catch up with you. With all of the new TV shows showing profits that amount to thousands of dollars is doing one thing, alerting the IRS of the next industry to watch. They just released new laws on Paypal and all other online payment services to where they now have to 1099 you for all of your income that you collect online. I can tell you this will not be the only step they take on this issue. Many folks love to talk on camera and love to stretch the truth as far as they can to look like Hollywood. Then when they are checked out and caught they start singing other songs, but then it will be to late. It is simple get yourself a business license, a tax license and go into the business the right way. It will save you huge in the long run. If you do this business right you will live great. doing it right will give you peace of mind. After all $45,000.00 to $125,000.00 per year is not casual sales. It is INCOME.