Will making money on eBay using PayPal effect my unemployment benefits?

[MarcoSalazar]

Will making money on eBay using PayPal effect my unemployment benefits?

Really need to know. I'm unemployed, and firghtened if this were so.

[USA_Millenium]

Probably.  Unfortunately, the money you make on Ebay is considered secondary income.  Any amount of money you MAKE from Ebay counts as income.  Fortunately, the laws are in your favor as far as what you claim.

You see, you can deduct a lot of things from your profit... Cost of item, postage, fees (ebay, listing, paypal, etc.), taxes.  You also have to pay taxes on your earnings, so make sure you think of EVERYTHING.  If you had to buy a box, thats an expense and goes against your bottom line.  Gas to the Post Office? Sure.  Your time? Bill it as well (but you have to pay yourself, too).

If your store is set up as individual proprietor, you are required to report any earnings (profit) to unemployment.  Unless you are making a mint ($100's in profit a day), you are probably not going to make a dent in what unemployment pays you.  Just be honest, but be fair to yourself.  Dishonesty has a way of leading to jail time or charges!

Kevin

USA Millenium

[MarcoSalazar]

Thanks for the answer,

You gave me what I didn't want to hear unfortunately, but maybe the answer changes if I specify.

I don't use eBay regularly, only used it this week. Will that affect my unemployment benefits? Or does it have to be income coming in regularly?

[MarcoSalazar]

bump

[USA_Millenium]

Yeah, the truth sometimes **bleep**!

Here's the cool thing...

Only the $$ you made as PROFIT can count.  Meaning if you spent $100 to buy the item (even if it was 200 years ago), and sold the item for $50, you actually made a LOSS!

Get it?  Only report actual profit, and you ONLY report it for that week you made it.  SUBTRACT EVERYTHING YOU SPENT, though.  Time, postage, shipping, materials, gas, car allowance, $$ spent originally on item... EVERYTHING.

Chances are, after doing all of this, you really didn't profit at all.

Think of it like having a garage sale.  Its not really income, since your expeditures for the items originally versus how much you made are a still a negative.

I think you're good!

Kevin