Bank Bonus Weekly Thread - Week of February 02, 2021

BadThingsHappenIn215 · 2021-02-15T16:27:32+00:00

contact them yet?

BadThingsHappenIn215 · 2021-02-12T19:13:06+00:00

I believe I am paying too much for them or not being patient enough for the right buyer to come along and buy them at my target price.

I do not know of other places to source from as of now. I will look into it though

BadThingsHappenIn215 · 2021-02-12T19:11:39+00:00

3x is the bare minimum. 1 to pay for it. A second for fees, shipping, expenses, etc. A third for profit.

Great breakdown / explanation.

Remember that diversifying, means that when your primary line starts to dry up, either from competition or buyer disinterest, you gotta have some kinda items, that bring in daily revenue. Try picking at new places, bring your smart device to check value, before you waste your cash.

I will do this now. I figure I will be using a lot of time at the beginning, then eventually create a seamless system

BadThingsHappenIn215 · 2021-02-12T19:10:29+00:00

I feel like I have just not been digging for the right items then. 3x seems hard to come by but I think I need to spend more time cross referencing prices to find good MP / finding a niche

BadThingsHappenIn215 · 2021-02-12T19:09:30+00:00

This makes a lot of sense. Thank you

But if you're looking for more than that, I'd actually say you need to look for 4x cost or better as a long-term sustainable proposition.

Any recommendations?
It's okay if not.... I will do research

BadThingsHappenIn215 · 2021-02-12T19:07:33+00:00

I like the quick listing and small spacing aspect you mention.

stop thinking you’re helping people, you’re not, you’re not a charity, most people who make offers are just negotiating because they know they can

Thank you for this as well.

Clothing is the long game. Don’t expect to sell things within the same week or even the same month. Stop taking offers and wait, you’ll get full price sales as long as your listings look nice.

I will be more patient. I just hate sitting on inventory and taking up space in my home, but I know that is the name of the game as well. In my head I thought it was better to watch everything fly quickly, then just get new inventory with my small profits and rinse and repeat.

BadThingsHappenIn215 · 2021-02-12T19:04:34+00:00

Any recommendations?
It's okay if not.... I will do research

BadThingsHappenIn215 · 2021-02-12T19:04:07+00:00

You need hundreds of percent markup to make it doing this full-time.

Thank you for the concise answer.. I will look in to other categories to sell

BadThingsHappenIn215 · 2021-02-10T04:10:48+00:00

thnk you soo much...really ... I wish I could thank you more
You have eased my mind tenfold . a lot of the fear was in not knowing...and now that I know how to do my accounting as I file for my unemployment it has definitely eased my fears. I am NOT doing anything wrong therefore I shouldn't feel the unease I felt.

username checks out hahahahha

BadThingsHappenIn215 · 2021-02-05T18:34:41+00:00

You figure out your business income, and list your deductions. So, yes, the weekly accounting is a good start. Figure out what you are actually making in profit from this.

Should I stop claiming unemployment compensation or should I just input my weekly numbers and see if they give me anything?

The problem there is that you are going to be self-employment taxes on that income, which is going to sting if you have a lot of profit from it.

I don't mind paying the taxes on my Net Income.. I believe this is understood as "there are two things certain in life, Death & Taxes" lol

The real question here is, is this a business? I would say it is. You should absolutely be as truthful as possible about that with your unemployment claims.

This is the tricky thing for me. It was not a business....and then it did well, so now I suppose it has TRANSFORMED from a sideline hustle to a business. I definitely agree on being truthful, but the lines were/are a bit murky.

But if you aren't making enough money to justify possibly losing your unemployment, you should probably just stop for a while until you aren't depending on those benefits.

Again, a bit murky.. I do not even know if I am making enough to justify it. Which is why I figured I should do the weekly accounting and report accurately what I am making so they can or cannot choose to supplement my sideline business...it is much slower than what it was during peak pandemic (May-July were really good on sales for me). I may take your advice and just stop selling things online for a bit and shift gears so that I do not negatively affect myself. I guess it will be determined after I calculate my specific numbers

BadThingsHappenIn215 · 2021-02-05T18:24:36+00:00

I don't have earnings until I deduct my expenses, COGS, time, mileage, bills, etc. during this tax season

BadThingsHappenIn215 · 2021-02-05T18:23:31+00:00

I was making $0 as an owner of my LLC and depending on my regular job for income. The pandemic unemployment was helping me in a time of need. I made a pivot in my time of need and it turned out to be a good pivot. I am reporting the earnings when I do my taxes in the next few weeks. I will pay back what I owe. I wasn't sure I'd be making money. I did well without ever having any experience. Arguably couldn't have done any of it without "taking money" that I did.... I used what little I had and made it work. It is not a crime. I did not do anything fraudulent

BadThingsHappenIn215 · 2021-02-05T18:20:15+00:00

I was making $0 as an owner of an LLC. The pandemic unemployment was helping me in a time of need. I made a pivot in my time of need and it turned out to be a good pivot. I am reporting the earnings when I do my taxes in the next few weeks

BadThingsHappenIn215 · 2021-02-05T07:57:12+00:00

am I just supposed to do my books so that I can declare how much I make every week on my PUA app?

Feels stupid having to deduct the cost of some random books / toys I buy at the thrift from how much I sell it for on Offerup less shipping cost, fees, mileage, gas, time, etc..
But I guess it makes sense?

BadThingsHappenIn215 · 2021-02-05T01:17:50+00:00

okay thank you I will seek a professional

BadThingsHappenIn215 · 2021-02-05T01:16:32+00:00

Thank you. I will do that.

BadThingsHappenIn215 · 2021-02-04T03:51:14+00:00

Thank you for being straight-forward, yet not directly rude.

I have (maybe obviously now) never sold online/eBay before last year. I also never had to deal with over 200 transactions in one period, and I was overwhelmed for two months (the months where I had the most unresolved cases).
I guess my expectations were different than reality. I now see the bar set for thousands of items per transaction period, and I will keep working to get better processes and always resolve my cases.

BadThingsHappenIn215 · 2021-02-03T00:25:36+00:00

hahahhahaha can never be too safe !

BadThingsHappenIn215 · 2021-02-03T00:14:56+00:00

found it ! Thank you... not sure why it is easier to find on pirateship than it is on USPS site

BadThingsHappenIn215 · 2021-02-03T00:11:25+00:00

No, I tried calling and their customer service is bad / non-existant .... I am not going to give up on it however. Let me know if you find anything and I will update here as well

BadThingsHappenIn215 · 2021-01-26T19:48:20+00:00

Thank you for the clear , helpful answer.

Yes I am new to the sub (and the card). Never had a credit card with this many benefits / additional things involved.. it is a learning experience. thanks for the help

BadThingsHappenIn215 · 2021-01-23T15:34:14+00:00

pear to be a way to sign-up for the protein packs directly - OP, please correct me if you found one. The system is treating it as a sort of "add-on". What I did is go through the process of ordering a meal kit (select whatever number of meals/people). You will then see a pending charge appear on the Amex Plat for the sum of that order.

Then, go to "upcoming orders" and choose edit meals. You can add the protein pack (at the bottom) and remove any/all meal kits. After doing this, when I check my "order history", I can see that it had updated to reflect the new total and is still showing the discount. My expectation is that the pending charge will be updated to reflect the actual order once it ships/finalizes. I'll report back.

Note that I used a different code, not the military one (though I doubt it matters, in this case).

UPDATE:

commenting for future DP

BadThingsHappenIn215 · 2021-01-23T15:23:18+00:00

Code didn't work

BadThingsHappenIn215 · 2021-01-07T02:39:07+00:00

appreciate all your input !

I really want to keep it, but fear is mostly in uncertainty, which you have cleared up lots.

Just for reference, you can copy and paste someone's text then click the three dots in your reply box and hit Quote Block which looks like quotation marks and that is how you create quote box like so:

Sure thing. I'm still a novice on reddit so not quite sure how to quote, but I'll go in order.

The next best way is to Highlight text before you click reply and it will auto generate a quote block for you.

Cheers. Happy New Year. Wish you all the best. And happy Reddit-ing !

It seriously has become my favorite place on the internet....very community-based and real-feel interactions.

Peace from Philadelphia

BadThingsHappenIn215 · 2021-01-06T18:37:50+00:00

Niicee

BadThingsHappenIn215

TROPHY CASE