Would I need a licence of any kind to start buying items at garage sales and selling them on ebay. regularly?

Question

Would I have to keep records or anything like that?

Thanks in advance for any help.

Answer 1

Yes you need to keep records, and claim the income on your tax return.  If your state has a sales tax, you'll also need a state tax id to collect sales tax and remit it to the state.

Answer 2

It is not likely that you would need a license.  Some cities may require that you get a local business license but I have ignored them when they request that I get one and nothing has ever happened.  As for records you should keep very clear records regarding all of your expenses including the mileage that you drive to collect all of this stuff.  Anything that you use to conduct this business is an expense to the degree that it was necessary and customary to preform the service you business offers.  If you send me a $1 for this advise that would be a business expense.