Tax

Ask a Tax Question, Get an Answer ASAP!

Have your own Tax question?

5 Tax Professionals are Online Now

characters left:

Not a Tax Question?

Question

Hi I have just recently opened a shop on ebay and am unsure as to what records I need to keep. As a sole trader do I have to have a copy of every single invoice I have sent to each buyer?

Submitted: 447 days and 21 hours ago.

Category: Tax

Value: $18

Status: CLOSED

Newcastle upon Tyne, United Kingdom

Already Tried:
I have ask for details of record keeping from the Inland Revenue several times to no avail. As it is Ebay I wasn;t sure exactly what records I need to keep. Please help!!

Accepted Answer

Hello and thank you for using Just Answer. You should keep a copy of every sale you make on ebay. Permanent books, including inventory records, should show gross income, deductions and credits. Your complete records should also be supported with sales slips, invoices, receipts, deposit slips, canceled checks, financial statements.

Accepts:
Expert:	Marvin,EA
Pos. Feedback:	98.5 %
Answered:	8/31/2008

Enrolled Agent

10 years self employed , Income Tax Preparation & Representation

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Tax

Have your own Tax question?

Related Tax Topics:

Question

Hi I have just recently opened a shop on ebay and am unsure as to what records I need to keep. As a sole trader do I have to have a copy of every single invoice I have sent to each buyer?

Optional Information

Newcastle upon Tyne, United Kingdom

Already Tried:
I have ask for details of record keeping from the Inland Revenue several times to no avail. As it is Ebay I wasn;t sure exactly what records I need to keep. Please help!!

Accepted Answer

Tax

Have your own Tax question?

Related Tax Topics:

Question

Hi I have just recently opened a shop on ebay and am unsure as to what records I need to keep. As a sole trader do I have to have a copy of every single invoice I have sent to each buyer?

Optional Information

Newcastle upon Tyne, United Kingdom Already Tried: I have ask for details of record keeping from the Inland Revenue several times to no avail. As it is Ebay I wasn;t sure exactly what records I need to keep. Please help!!

Accepted Answer

Related Tax Questions

Newcastle upon Tyne, United Kingdom

Already Tried:
I have ask for details of record keeping from the Inland Revenue several times to no avail. As it is Ebay I wasn;t sure exactly what records I need to keep. Please help!!