Tax exposure and witholding funds for it for my ebay business

[snappyhandle]

Since a rolling 1099 is not possible, I want to know how I can monitor my income from ebay sales to see what my tax exposure would be. The reports may be there but I cant find the right one. Then, I can perhaps set funds aside as in witholding. THANKS

[nevadasmith]

no one but you know what your income is.

but you can find your year to date sales from Ebay invoice and amount you collected from paypal annual summary.

[nevadasmith · Accepted solution]

some sellers use quicken,yours truly use a 19 cents spiral binder book and record by day,each item sold,shipping collected,cost of good sold,shipping fee,at the end of the month,I will add ebay fess and Paypal fees,so I know some rough idea how much I make each month,of course there are other expenses like home office,mileage to post office,equipments,internet fee etc

[snappyhandle]

thanks. I never used quicken but I can identify with your method and so does my better half. I had put together an Xl spreadsheet with all of those elements and a couple more. nice part is you can put in some simp;e calculations but basically i input price, buyer shipping, sales tax, my shiping, ebays and PP's fees. I have a column for credits and returns too. Si its basically what yours is but if I have to go back to it for refund or insurance claim then it works. Plus the right click menu allows you to put notes in. I was just looking to see if PP had something that would  give me a tool that I could use in concert or as adouble check. I kind of think it work pretty good and after I posted my question I resigned myself to the conclusion that it would end up being my tool. I always loved XL and suspect the quicken uses some of those principles of colums and rows. So, thats my story and thenks for your input. Helps me think it out.

Hankbuck