Wednesday, February 19, 2014

Preparing for Tax Season

Over the past few weeks I have been preparing my accounts for tax season.


Having several sources of income ranging from a part-time job to blog income my taxes can become a little complicated.


It did not come as much of a surprise to find my part-time job is becoming less important to my finances.


The last year has seen much of my blog income level out. But a major part of my income has now become my online bookstore on amazon.com.


Blogiing is my least important income. It brings in enough to cover minor bills and pay for small luxury items, here I include things like a coffee at Starbucks.


Next come product designs in my zazzle store. Last year saw lots of orders for items such as greetings cards and T-shirts. Several of those order from Europe.


Overall though the sale of second-hand books has eclipsed all the other forms of income. Income from Bretsuki's Books, my online bookstore at amazon has been recycled to increase my stock. I began with just 17 books and now have approaching 500 books. All income from sales has been used to cover ongoing costs and not taken out to pay a wage but I can now see a time in the not too far future when I will not need to reinvest my ongoing income and be able to take a wage from that business.

The moral of the tale is therefore, if you are looking for real income from the web, look to producing real goods or at least look towards marketplaces such as amazon or ebay where you can sell real goods. That is where there is real cash generation potential.

1 comment:

Robert Arnold said...

william it looks like your having as much fun
as i am with your taxs.

rob