Selling on eBay - tax questions - Help me understand how this works.

This thread is about income taxes not sales taxes.

 

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If I made $1,000 a day, I would never take a day off either. $365,000 a year is a good haul (not including your OT or bonus structure of course)

 

Lol, it would be a heck of a trick. Its longstanding tax law, (from the very beginning I believe), that time is never tax deductible. Unless you were legally forced to write a check to yourself for the time, you cannot deduct it. Problem is, if you write a check to yourself for your time then you have to file self employment income on THAT income. You could generate a whole bunch of unneeded FICA tax liabilities trying to play that charade.