I been searching the forums for the relative topic but wouldn't able to find it, so I think maybe I could post here. How do you guys prepare the paper work for filing taxes? I am starting to sell on FBA now and I will need to file taxes on 2018. There are sets I bought back in 2014 or 2013. Do you guys always keep the receipts? What would you do on sets that you bought with cash in the parking lot? Do you record the cost of the set on the time buy in? or at the time of item sold? I know spreadsheet on excel always help on keeping record, but any good invoice software you guys would recommend? 

I am currently just create my own spreadsheet on excel to keep record but I think it's really time consuming since I already have another full time job. And I am getting frustrating since I didn't keep all my receipts back then. I just hope to get some good recommendations.

I am sorry if this post bother anyone or been inappropriate to this topic, please do so if it needs to move to other place. 

 

Thanks

2X LOTR Black Gates for $155 shipped on EBAY

2X Brick Bounty for $175 shipped on eBay. 

TRU truck 7848 used 54.99 plus shipping.......... buy in was prob around $10 in a bulk lot.......... One of around 25 sets including the maersk train.

Sold my last 8110 Unimog on ebay for $250. Had held on to it after I dumped the others back in 2015. Flagship technic sets had done so well before this one 

Sold a used 5378 Hogwarts (3rd Edition) today for $725 CAD. Ebay, and certainly not the lowest price by a big margin. Sold well above BP suggested market value. Buy-in of $121, paid back the entire lot it came from. Whoot! 

Loose hulk/Thor combo from BL. The guy also bought the banana suit guy.

ragnarok trailer helps

Lewa Uniter of Jungle for $28 shipped. Buy-in $4.

28 minutes ago, mizeur said:

Lewa Uniter of Jungle for $28 shipped. Buy-in $4.

Just literally sold one as well for $26 shipped on BL, buy in $5 from Kmart last week

I'm glad I grabbed the ones I saw. I passed on the Skull Bionicles so far. They don't seem to have the same legs.

Used 6211 Imp Star Destroyer (my 4th one in 12 months, working on #5 now) w/ instructions, no box. In for $32 out for $133 net after fees ($10 buy-in + $22 in parts... original owner glued the 4 most expensive parts :P).  $100 profit is ok on this one since I inventoried but never assembled it.

TBT! ... on a Friday... Actually it was about a month ago: I sold my last 75005 Rancor Pit on eBay for $101 (cosmetic box damage). More interesting is who I sold it to: @mscheaf ! Remember him? Whatever happened to that guy?

Probably not in the right thread to ask this question but since it's somewhat to do with selling, here it goes --- the items that everyone sells whether its on Ebay or Amazon, do you guys always provide a tracking number for the buyer?

18 minutes ago, Leopard said:

Probably not in the right thread to ask this question but since it's somewhat to do with selling, here it goes --- the items that everyone sells whether its on Ebay or Amazon, do you guys always provide a tracking number for the buyer?

yes

Probably not in the right thread to ask this question but since it's somewhat to do with selling, here it goes --- the items that everyone sells whether its on Ebay or Amazon, do you guys always provide a tracking number for the buyer?

Always. I don't ship without one.

After about 16 months of collecting/acquiring stock, I finally began my first foray into selling. I listed all of these items last weekend. 

eBay:

Raptor Escape - $118.5 (I bought 3 from a guy in a Wal-Mart parking lot for $120 about a year ago)

Wookie Gunship - $70 (buy-in was $40 from Target clearance)

Series 1 Microfighters X-Wing + TIE - $40 (buy in was $20)

Rhino and Sandman Supervillain Team-up - $39.50 (buy in was $19 from Wal-Mart clearance)

Loose Minifigures:

Jek-14 - $20

Ithorian Jedi Master - $15

Wolfpack Clone Troopers (x2) - $20

AT-DP Drivers (x2) - $8

Kallus - $10

All in all, I'm pretty satisfied with the return. I never intended this to be a major source of revenue, but these sales at least somewhat offset the cost of my habit. I'm sure I could have held on longer for higher returns, but I've run out of storage space and my (live-in) girlfriend is constantly reminding me of this fact.

MODS PLEASE GO AHEAD AND CLOSE THREAD, THIS WON'T BE TOPPED.

Galaxy Squad 70709 Galactic Titan, Amazon FBM, $109.99 BOOM!

Sold a Fire Dragon's Lava Cave for $33 shipped + $25 seller's coupon. $24 buy-in.

Took advantage of recent eBay £1 FVF offer and wanted to clear space so priced to sell and sold following in 2 days.

2 x Artic Truck for £65 each, buy in £30 each

Wall-E for £70, buy in was £25

T-rex Tracker for £100, buy in was £20 using TRU Vouchers

Trevi Fountain for £65 - buy in was £10 (on sale at SAH and using VIP points)

Total investment £115 and a profit of just over £200 for what was a six month old with minimal fuss and a lot more than your high street savings bank or blue chip tracker fund.

Last Flight of Destinys Bounty $90 on BL

Another Lewa Uniter of Jungle for $45 shipped, $4 buy-in.

Last week...

25x 21108 Ecto1 for £1000 cash.

5x 21104 Mars Rover for £450 cash.

16x large grey baseplates for £120 cash.

47x green Duplo baseplates for £100 cash.

4x 10218 Petshops for £525 cash.

10x 21303 WALL-E for £500 cash.

5000x black 2x2 tiles for £100 cash.

Over £1000 RRP worth of Friends sets in damaged boxes for £200 cash.

Another large box of random polybags donated to various Easter raffles.

Shhh.... No fees or tax!

 

Edited April 17, 20178 yr by TabbyBoy

12 hours ago, LahH001 said:

Took advantage of recent eBay £1 FVF offer and wanted to clear space so priced to sell and sold following in 2 days.

2 x Artic Truck for £65 each, buy in £30 each

Wall-E for £70, buy in was £25

T-rex Tracker for £100, buy in was £20 using TRU Vouchers

Trevi Fountain for £65 - buy in was £10 (on sale at SAH and using VIP points)

Total investment £115 and a profit of just over £200 for what was a six month old with minimal fuss and a lot more than your high street savings bank or blue chip tracker fund.

Good result, but can you do that day after day? ;-)

Good result, but can you do that day after day? ;-)

 

Effort is minimal to be honest. Live in London and have good contacts at TRU, SMYTHS and Lego shops who give me the heads up and keep stuff aside for me, including Pakaging from Lego which cuts down my costs. Im also connected up with my local LUG. Wife or mother in law drops packages into post office.

 

I'm just investing to pay for my personal UCS Star Wars and Modulars and then I'm done. From the 'what did I build today' threads you can see that I've already got most of the older, more expensive sets and based on profits banked from my first year, about 80% of the outlay for those sets have been paid for already.

 

By the end of this Xmas season I think I will be done and I will just buy for personal builds since returns are diminishing and it's more about jumping on those deals as well as identifying value. Much like my day job in the city. Although depending on how much the UCS Falcon tops out, this may extend for a little while yet. :-)

 

My wife does ask why I even bother with this approach and not just buy the sets outright, since funds aren't an issue and therefore not bother with the hassle of hunting for deals and storing etc. The answer I give her is that I do enjoy it. From the analysing of sets and determine a good buy in and sell point and then reinvesting that into my personal collection and ultimately the building of those great sets.

 

 

 

Local carboot 60080 Spaceport £35 (buy in £11), 41106 Tour Bus £25 (£8)

Facebook 10225 R2D2 £285 (£90)