YaBB - Yet another Bulletin Board Welcome, Guest. Please Login or Register.
Home Home Help Help Search Search Login Login Register Register
Sep 10th, 2010, 3:02am News: These Forums are for Peer Support. For direct and immediate support, use the Live Chat, or Support Ticket System
AOB ForumGeneral DiscussionOpen Forum « Previous topic | Next topic »
Pages: 1 2 3  Register to Reply Register to Reply Send Topic Send Topic Print Print

Holy Moly (Read 1861 times)
lynn
Posters
Re: Holy Moly
Reply #15 on: Mar 13th, 2010, 4:25pm
 

I love YaBB 1G - YaBB 2!

Posts: 57
I would like to know if others are using FBA and what they think. Just trying to think of what else to try, because we are not making it.
I also am concerned that we are running out of cash flow to purchase books. Would anyone share how you budget or set aside a certain amount for the purchase of books.
I have never put together a Business budget. Just bought all the books I could find ( and that is getting so competitive and difficult) and sold what I could.  And then...Hoped it all would work out with some profit.
While I am here, if I may, another question. I would like to know what others use to help them at book sales in the way of carts, bags, equipment, etc. My husband and I do this for a full time living. We have to go at it seriously in Ca. with lots of competition. It has become so crowded and competitive, that I only go when I have to as I don't like the sale environment anymore.
In answer to another, we have pondered working as a greeter at Walmart or some such thing at Costco, wondering if that would be better than books right now. There are no jobs in my husbands professional field. Husband joined me with book sales after he lost his job a long time ago.
Back to top
IP Logged
dawnb7
First Chair
Posters
****
Re: Holy Moly
Reply #16 on: Mar 14th, 2010, 12:52am
 



Posts: 381
Gender: female
Quote:
I'd be curious if any of you -- especially full-time sellers -- think things are bad enough that you are looking for other work.

I'm certainly not pleased with how things are going and I always have my hand in several things, but I don't plan to abandon ship soon... Do any of you?

 
Gip, I am actually working on growing our business even more.  My husband works full time and I do work part-time outside the home.  Our goal has always been for this to eventually support us or carry a bigger load so my dh can take a job where he doesn't have to travel so much.  My efforts have helped but I didn't give it a 100% in 2009, now I am giving that and more, so we will see.
Back to top Dawn
Audrey Rose Booksellers
www.audreyrosebooks.com
Email WWW IP Logged
sofaslugsbooks
Journeyman
**
Re: Holy Moly
Reply #17 on: Mar 14th, 2010, 2:54am
 

I love YaBB 1G - YaBB 2!

Posts: 127
Gender: male
I went from part-time seller to full time seller last August. I've been doing this for nearly five years and I have seen ups and downs.  Last year was my worst year.  I am definitely not planning on getting out anytime soon.  Things are still not what they were for me in 2008 in terms of sales but I see an upswing.  
 
I am also starting to be aggressive in improving my inventory and listing on more venues. I am also advertising via a Facebook page (which I just started.)  I'm not sure what it will take to get this business to grow but I do know that I have invested way too much to think about getting out.
 
The market will start to turn and the customers will have a bit more cash to spend.  Hang in there.
 
- Sofa
 
http://www.facebook.com/pages/Elsie-MI/Sofaslugs-Books/179159598464?ref=mf
Back to top
Email IP Logged
dawnb7
First Chair
Posters
****
Re: Holy Moly
Reply #18 on: Mar 14th, 2010, 4:36pm
 



Posts: 381
Gender: female
I just did the same thing Sofa.  I added the Facebook page and of course my friends began to join but just yesterday I had my first "unknown" Grin  I was very excited, I know kind of silly, but it would be nice if that helps, free advertising is always a good thing Smiley.  I am like you, too much invested and really feel like this can grow again.  I went to that website grader and graded my site and am following their advise for my website, so we will see if that helps any.
Back to top Dawn
Audrey Rose Booksellers
www.audreyrosebooks.com
Email WWW IP Logged
robin_culver
Journeyman
Posters
**
Re: Holy Moly
Reply #19 on: Mar 14th, 2010, 5:06pm
 



Posts: 202
Gender: female
Sofaslug's Books Did you know that in the state of Michigan USED items such as books and other media are not subject to sales tax?
 
Hi Sofa,
 
This is from your Facebook page. I like the way your marketing yourself. Please tell me where I can find this sales tax info for Michigan.
TIA, Robin
Back to top
Email robinsbuyitnow IP Logged
BookLadies
Maestro
Posters
*****
Re: Holy Moly
Reply #20 on: Mar 14th, 2010, 6:30pm
 

I love books!

Posts: 887
Gender: female
Quote from Gip Plaster on Mar 13th, 2010, 4:04pm:
I'd be curious if any of you -- especially full-time sellers -- think things are bad enough that you are looking for other work.

 
At times, I wish my husband would go and get an outside job, with health insurance!  But, we're so comfortable here doing what we're doing....  We get up to get the boys to school @ 7, go to work, come home (1 minute away lol) for lunch and go back until school's out around 3.  We work about 6 hours a day from work (more from home answering emails, etc), plus we get to do things around the property - take care of cows or chickens, the garden (rapidly expanding), which are also all ways to make money (we sell eggs, we're going to sell cows soon and the garden will provide us food all summer).
 
That being said, we've really pulled in the reigns to spend less (less going out to eat and other entertainment) in efforts to keep our current situation working for us.  We don't necessarily have as much money as we would like, but we're getting by okay most of the time.
 
We're working harder than ever to grow our inventory and increase sales, but sales are lower than ever since we've become full time (spring of 2007).  We're adapting, but I would really hate to see them decrease any more than they already have.
 
It was so easy to make a living doing this just 2 years ago and now it's really becoming a struggle.  We're spending more and more on books and increasing inventory levels, but they just aren't selling at a very good rate.
Back to top Melissa @ The Book Ladies
Email WWW IP Logged
BookLadies
Maestro
Posters
*****
Re: Holy Moly
Reply #21 on: Mar 14th, 2010, 6:32pm
 

I love books!

Posts: 887
Gender: female
Quote from lynn on Mar 13th, 2010, 4:25pm:
I would like to know if others are using FBA and what they think.

 
We're not using FBA, but we just started (at the beginning of January) to use Alibris' ADS program.  So far, it seems to be going okay and we think that within 4-6 months, we'll be turning a profit.  It's better than our books just sitting there gathering dust in the warehouse....
Back to top Melissa @ The Book Ladies
Email WWW IP Logged
sofaslugsbooks
Journeyman
**
Re: Holy Moly
Reply #22 on: Mar 14th, 2010, 7:47pm
 

I love YaBB 1G - YaBB 2!

Posts: 127
Gender: male
Robin, I'm trying to remember which part of the michigan.gov site it was but it was when I was getting my business license I was looking up all of the laws on it. I discovered that I do not need a sales tax license since re-sale items are not eligible for sales tax collected on it. You could try trolling around http://www.michigan.gov and see if you can find it.  If I get a chance later on to go back and find it I will post the direct link.
 
I have had two sales as a result of the facebook page so far. The customers discovered it through friends and ordered from my Alibris link.  So it might not be doing much but a little is better than nothing!
 
Happy weekend, everyone!
Back to top
Email IP Logged
robin_culver
Journeyman
Posters
**
Re: Holy Moly
Reply #23 on: Mar 14th, 2010, 8:08pm
 



Posts: 202
Gender: female
Sofa, Congrats on the sales through your Facebook page! Is this perhaps the what you're referring to on the michigan.gov page?
 
Wholesalers - Wholesalers sell to other wholesalers or retailers and not to the final consumer. The price at which the seller sells a product does not determine if the seller is a wholesaler. The determination is based on whom the products are sold to by the seller. Wholesalers buy for resale at wholesale. They are not making retail sales; therefore registration for sales tax is not required. Wholesalers claiming an exemption should provide a written statement that they are purchasing for "resale at wholesale".
 
Thanks, Robin
Back to top
Email robinsbuyitnow IP Logged
robin_culver
Journeyman
Posters
**
Re: Holy Moly
Reply #24 on: Mar 14th, 2010, 8:28pm
 



Posts: 202
Gender: female
This is what I find on Internet Retailing in Michigan.  
 
http://www.michigan.gov/statelicensesearch/0,1607,7-180-24786-81294--,00.html
 
Internet Retailing
 
Required State License(s):    
 
A sales or use tax license is required.   You may call the Michigan Department of Treasury at (517) 636-4660.
 
Personalized sales tax returns and a payment schedule will be mailed to within four to six weeks after the registration has been processed. If you have questions about this process, please call the Michigan Department of Treasury at (517) 636-4730.    
 
Other Possible License(s):   "Great Lakes States Tax Enforcement Pact." This compact is a mutual tax enforcement agreement designed to increase compliance with each state's sales and use tax laws. The member states (Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin) have agreed to exchange information and cooperate in enforcement efforts.    
 
The use tax, is imposed on goods purchased tax free or at a lower rate in one state for use in another. If the use tax is not collected voluntarily by the seller, customers are required to remit the use tax to their home state [every year, millions of dollars in taxes legally owed to states are lost when individuals and businesses buy goods from out-of-state merchants who do not collect and remit the use tax and the customer fails to file and pay based on those purchases]. Use tax protects in-state sellers against unfair price competition from out-of-state sellers based solely on tax advantages. Forty-five states which impose sales tax also have a complementary use tax.
 
The states want you to voluntarily register to collect use tax from your customers. If you are selling merchandise into any of the Great Lakes states and aren't registered to collect the use tax, you and your customers may be hearing the "Compact." It also means you can notify the tax agency in your state or any of the five states if you are facing unfair competition due to a competitor's tax advantage.    
 
If you have a business presence for tax purposes ("nexus"), you are required by law to register. An example of an activity that creates nexus would be making regular delivery of goods and providing repair services to your customers in a state. Even if you do not have nexus, your registration will help stop the tax advantage that lures buyers across state lines. It will also prevent the inconvenience of having your customers contacted directly by state tax collectors seeking to collect use tax.    
 
The Great Lakes states are exchanging information on interstate sales. If you make sales into one of the states and don't register, you will likely be audited. If nexus is established, you will be liable for all unpaid use tax and interest thereon, plus substantial penalties. If you do not have nexus, your customers could be contacted for payment of use tax, penalty and interest.    
 
Further Information:  
 
Should comply with U.S. Postal Service regulations.    
 
Revised: 4/2005
Back to top
Email robinsbuyitnow IP Logged
RonaldLaeremans
Journeyman
Posters
**
Re: Holy Moly
Reply #25 on: Mar 14th, 2010, 11:43pm
 

I love YaBB 1G - YaBB 2!

Posts: 231
Nice going that states now have an interpretation of nexus that is incompatible with the well established Federal commerce definition. If the quoted interpretation was enforceable, all national Internet retailers would have to charge sales tax nationwide.
 
I think this is a great illustration that even a small business should get competent tax help seeing the amount of blatant misinformation that even state and local authorities put out.
 
Ronald
Back to top
IP Logged
sofaslugsbooks
Journeyman
**
Re: Holy Moly
Reply #26 on: Mar 15th, 2010, 3:55am
 

I love YaBB 1G - YaBB 2!

Posts: 127
Gender: male
Robin, I just checked and the information has disappeared from the State of Michigan's website. I am having my accountant check and see if a law has gone into effect that I am not aware of regarding taxing Used items.
 
As of 2009 taxing Used items was a no-no but now I found links to all sorts of new legislation saying that starting in 2010 Michigan WILL charge sales tax on re-sale used goods and internet sales (ala New York and Colorado.)
 
This could be the start of a big ol' mess.
 
Time to bust out the tax books and study!
Back to top
Email IP Logged
Gip Plaster
First Chair
Posters
****
Re: Holy Moly
Reply #27 on: Mar 15th, 2010, 1:47pm
 

Writer, Bookseller, Blogger

Posts: 300
Gender: male
Texas doesn't make any distinctions based on new or used, as far as I know. Flea market sellers here need to pay in sales tax just like retail stores. Internet sellers here must pay sales tax on any book shipped within the state, and I think the latest rules indicate that the tax rate is based on the rate wherever the buyer lives. So if I sell a book to someone in Austin, I'm SUPPOSED to know whether they live in town (and are subject to city sales taxes rates) or in a rural area with an Austin address (and a lower sales tax rate). It used to be based on where my business is located.
 
Whatever you find out about your state, print out the website page or copy the pages from any book you use as a reference source. If you are found to be out of compliance at some future point, you can at least defend your reasoning.
 
Gip
Back to top There's so much more to a simple, meaningful life than just one thing.

Bookselling - Simpler Living - Spirituality - Writing Life
So Much More...
http://www.gipplaster.com
WWW IP Logged
povertyhillbooks
Posters
Re: Holy Moly
Reply #28 on: Mar 15th, 2010, 2:23pm
 

I love YaBB 1G - YaBB 2!

Posts: 242
Quote:
This could be the start of a big ol' mess.

 
You got that right, "big ol' mess" is just the tip of the iceberg!  The Great Lakes States Tax Enforcement Pact states you need to collect and submit "use tax" for out of state customers (which is equal to state sales tax rates).  I know in some states, there is a catagory called "casual sales" which is not taxable, this is for garage sales, fund-raisers, etc.  It probably wouldn't apply to Ebay type sales.... I really don't know.  Maybe this is where you saw the "USED items such as books and other media are not subject to sales tax" clause.  
 
I've never heard of the Tax Enforcement Pact enforced on internet sales but it always has on large ticket items such as auto sales, boats, etc.  Regarding internet sales, I think the tax laws are already in place, it's just that the dots aren't connected yet, it's just a matter of time.  I think with the revenue crunch most states are in, it's just a matter of time until use tax collection is enforced and sales tax collection expands beyond intrastate retail sales.
 
I'm certainly no expert and plug along without tax consultants however I make sure not to tag my tax returns as revenue from internet sales.
 
Back to top
Email IP Logged
robin_culver
Journeyman
Posters
**
Re: Holy Moly
Reply #29 on: Mar 15th, 2010, 10:01pm
 



Posts: 202
Gender: female
Sofa - I'd love to hear what your accountant has to say.
 
I did see where if WE buy something for resale we do not have to pay sales tax on it if we show the seller a sales tax exemption form I can't remember the actual name of the form. Do you think that might be what made you think you didn't need to pay tax.
 
I'm wondering about just keeping in mind that I need to pay the 6% sales tax and plan on doing it out of my profits.
 
BTW do you all know that in 2010 you will be getting a 1099-K from online payments and the IRS will be tracking them. Here's an article from AuctionBytes http://www.auctionbytes.com/cab/abu/y210/m03/abu0258/s03
Back to top
Email robinsbuyitnow IP Logged

Pages: 1 2 3  Register to Reply Register to Reply Send Topic Send Topic Print Print
AOB ForumGeneral DiscussionOpen Forum « Previous topic | Next topic »