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I have a few for you. Lots of people sell on Ebay, myself included and I was wondering at what point do you need to take the step to becoming a business and filing those earnings? Is there a gross dollar amount or profit? As of right now, I make no real profit that I keep. I have a separate bank account and use the money to purchase more items and supplies.
The items I sell buy and sell are from retail stores and I have paid sales tax on the items, but haven't collected any tax on the items when reselling them. Is that the buyers' responsibility?
Any advice would be greatly appreciated.
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