Please don't let those negative comments get to you. I believe most people don't mean to be malicious, but feel like they need to post every thought ("I'm entitled to my opinion" Sure, but no one else needs to hear it!) SO MUCH more positivity than negativity coming your way.
5 years ago I got a flat screen tv for Christmas. Brought my tube tv with remote to Goodwill the next day. They wouldn’t take it. They said nobody uses them anymore. Huh? I was just using it the day before & I’m not poor. Took it across the street to Savers. They loved it.
That was 5 years ago. Today I don’t think anyone takes them for free. Most charge to take them and it’s not cheap. Sounds like you got rid of yours just in time!
I think that is the hardest part for me--knowing when to cut losses and how to get rid of inventory. How donations can legitimately help offset taxes. (clothing is worth more as donation than as dollar sale) However a quick google check shows there is a limit. It can't exceed 50% of your gross income up to about 12k a year. Pretty good incentive to donate everything you can't make a buck on.
You also can only write off your cost when donating (at least me, how my business is structured). If I bought it for 50¢, I can only write off 50¢ which would only reduce my tax bill by about 12-15¢. I’d much rather take the dollar.
@@ResaleRabbit But that is the tricky part. How do you put a dollar value on inventory (let alone create an inventory spreadsheet) when the bulk of your inventory comes from bulk lots, storage lockers, etc. I suppose you'd take the total item count and divide your total cost.. but there are so many factors to the cost of an item even if you don't add labor and transportation (storage locker) at least a truckload of pallets is easier to put a hard number on. I loathe spreadsheets.. If it wasn't for quickbooks online being able to access my ebay sales instantly my accounting would be completely inaccurate. However I enjoyed seeing your breakdown in excel for your weekend for the dollar sale and other sales showing taxes.
Learning everyday from videos like yours that have some great information. Was wondering how to do keep inventory records (costs of goods, ending inventory, etc)?
Hey Rabbit! Love your videos. I have just gotten into the resale business after being laid off from my job. Starting slow and hitting garage sales and goodwills. One question, do you ever put a video in your eBay listings? I just found a vintage 1950’s Disney Pluto clock with moving eyes and tongue! Had to repair it to make it work. I would love to have a video on my listing.
@scott maki Cincinnati Picker does the same with his clocks and has good results. This video, just over 3 minutes in shows how he does it: ua-cam.com/video/GLI5K3y-VyY/v-deo.html
In Australia tax is ALWAYS included in price of everything. Don't know why more companies in America don't do what you are doing. Makes it easier for customers and you have just shown all a company needs is excel to calculate it.
@@ResaleRabbit But is there anything banning them for automatically including tax in the sale price? Our receipts have at the bottom the amount of tax paid on our purchase and all goods and services pay tax. It is just that the companies are the ones to calculate it after purchase.
So now you’ve got me curious and it looks like the reason is that every state has a different tax rate (even some cities and counties) therefore when a company is advertising a product nationwide, it needs to tax after the purchase since there is such a variance. It would be much easier if we had a single unified tax rate across the country (especially with the mess it’s creating for online sellers lately) but until that happens, tax will always be calculated after the sale in the US.
Shelley yes in Australia states can only charge very few taxes like stamp duty, certainly not vat or sales tax so therefore I suppose it’s easier for us here to just include tax within the quoted price
The main reason nobody talks about taxes is because it can be a liability to talk about them. Your best bet is to talk to a tax accountant. As far as donations, according to my accountant, based on the way my business is structured, I can only write off my cost when donating items.
How do you include the tax in the price online when you don't know what the tax rate is until you sell the item? Do you take the rate into account when you decide if you're going to sell to someone?
"I got my warehouse back" -> next Lowes truck arrives! :D :D :D Great seeing your dollar sale process dude. I think the approach to sales tax is really sensible.
One trick I use is you can point the front of the remote into a camera and you can see the infra red light blink through the camera when you push each button.
I went to my first storage unit sale today and was told that any laptop, phones, tablets, USB sticks etc, cannot be taking from unit and most be handed over to storage company due the the European Union’s general data protection regulation (gdpr) 😤
@@andrewcampbell336 Oh I wasn't trying to having a dig at rabbit, I'm just frustrated that if I found anything good to sell like a Mac book air or a phone or whatever I couldn't keep it if I won the storage action. I admire rabbit a lot and he's the reason I started doing this in my spare time and I've learned a lot from him, also he's a funny charter and I enjoy all videos.😄
@@ResaleRabbit Yeah, I suppose you're right but, it still sucks. I'm in talks with opening a stall at market that we have here every Sunday and I'm thinking of doing, but they want me to sign a 6 month contract and want payment for the full 6 months up front, any advice?
The Polaroid shirts made my husband and I laugh because we found 2 brand new Polaroid barbies that were a promotional item, we bought them for 1.00 for both and sold them for 35 bucks a piece! Enjoy your videos, happy sales everyone 😁
3:30 You gotta love people who don't have a brain capable of realizing the difference between selling on ecommerce platforms, like Ebay, and selling in a dying brick & mortar. They fail to grasp the concept of NUMBERS.
@@ResaleRabbit That seems unfair to me as sales tax would have already been paid on in particular consumables, coming from the EU, there would be an outrage if that happened, food and children's clothing is exempt here too.
Keep doing what you're doing!!! Money is Money and negative people will always try to drag you down.
You got your own mini Amazon warehouse going on there. Cool stuff.
Midnight here and sat watching you because i got a notification as i was going to sleep 😂 im addicted!
Hey, Rabbit, I got your order and will be shipping at 9am tomorrow. Thank you so much!
I'm always surprised at how good your memory is and how you can keep track of everything.
Ignore the negative remarks Rabbit. The negatives are jealous of your success. I appreciate all your videos. Great and valuable information.
I’m very impressed that you remember how much you spent on almost every item by memory.
Can you please tell me if you think Rabbit will like this video? I gave him a shout out. ua-cam.com/video/lDmAbzTgwRA/v-deo.html
I have a pretty good memory, but sometimes it slips on me
Yeah usually the one that's business cost you got to keep that in mind at all times for sales, promotions, bundles and/or perhaps liquidation etc et
Very nicely done on the dollar sale. Would love to go large scale one day like your self. At the moment I'm only small fry in reselling.
Yup that lock came from me in Milwaukee - glad you made some money on it (and finally the cleats)
And I bought the fossil wallet you had I think from rabbit
Trash2Treasure 2000 nice!
Please don't let those negative comments get to you. I believe most people don't mean to be malicious, but feel like they need to post every thought ("I'm entitled to my opinion" Sure, but no one else needs to hear it!) SO MUCH more positivity than negativity coming your way.
I donate to GoodWill at 0230 in the morning. They take EVERYTHING. Never a complaint.
I love your videos. I watch all I can
5 years ago I got a flat screen tv for Christmas. Brought my tube tv with remote to Goodwill the next day. They wouldn’t take it. They said nobody uses them anymore. Huh? I was just using it the day before & I’m not poor.
Took it across the street to Savers. They loved it.
That was 5 years ago. Today I don’t think anyone takes them for free. Most charge to take them and it’s not cheap. Sounds like you got rid of yours just in time!
@@ResaleRabbit Most larger cities have Electronics recycling, and it's usually free.
Last night Walmart in De Pere had an endcap of clearance video games some as low as $2 mostly sports titles though.
I think that is the hardest part for me--knowing when to cut losses and how to get rid of inventory. How donations can legitimately help offset taxes. (clothing is worth more as donation than as dollar sale) However a quick google check shows there is a limit. It can't exceed 50% of your gross income up to about 12k a year. Pretty good incentive to donate everything you can't make a buck on.
You also can only write off your cost when donating (at least me, how my business is structured). If I bought it for 50¢, I can only write off 50¢ which would only reduce my tax bill by about 12-15¢. I’d much rather take the dollar.
@@ResaleRabbit But that is the tricky part. How do you put a dollar value on inventory (let alone create an inventory spreadsheet) when the bulk of your inventory comes from bulk lots, storage lockers, etc.
I suppose you'd take the total item count and divide your total cost.. but there are so many factors to the cost of an item even if you don't add labor and transportation (storage locker) at least a truckload of pallets is easier to put a hard number on.
I loathe spreadsheets.. If it wasn't for quickbooks online being able to access my ebay sales instantly my accounting would be completely inaccurate. However I enjoyed seeing your breakdown in excel for your weekend for the dollar sale and other sales showing taxes.
Ohhh please let me know if those paint pens are sold out.. I'd love a box!
Our GW will take anything...what doesnt go to auction or retail goes to the Outlet Bins
Learning everyday from videos like yours that have some great information. Was wondering how to do keep inventory records (costs of goods, ending inventory, etc)?
Love your videos!
I love love ❤️ your video, they are long enough for me 🥰
Never enough of *Resale Rabbit* time!! 👊🎉💗👍🌹
I bring everything to Salvation Army. Stick the stuff in the big metal bins outside and if it doesn't fit I sit all the stuff on the side.
Donate the glue to a school goodwill I always roundup they help old people-)
Just wait till the next morning and go to Goodwill before they open and simply drop it off at their donation door... :)
I'm reading a book on the history of glue......i can't put it down!
I know b.s. comments would drive me insane as well. Thanks for continue to post, if it helps ...WE all have the smart people to deal with as sellers.
what size boxes you have can you give dimensions please
Love your videos
Ignore the haters YOU ARE AWESOME!!!! I cannot wait to run into one of these days! :) Go Wisco!
Man way to make that money. Hustle until you no longer have to introduce yourself. Don;t let your trolls slow you down, drive right over them.
How can I buy the back to the future usa today newspaper ??
Hey Rabbit! Love your videos. I have just gotten into the resale business after being laid off from my job. Starting slow and hitting garage sales and goodwills. One question, do you ever put a video in your eBay listings? I just found a vintage 1950’s Disney Pluto clock with moving eyes and tongue! Had to repair it to make it work. I would love to have a video on my listing.
@scott maki
Cincinnati Picker does the same with his clocks and has good results. This video, just over 3 minutes in shows how he does it:
ua-cam.com/video/GLI5K3y-VyY/v-deo.html
Most of the world has tax in the price.
Onkyo is awesome!
Commercial roof = flat roof = leaks.
I have a commercial building with flat roof. I have replaced 3/4th of it with new roof. STILL Leaks... heheh
In Australia tax is ALWAYS included in price of everything. Don't know why more companies in America don't do what you are doing. Makes it easier for customers and you have just shown all a company needs is excel to calculate it.
I think it’s more of a governmental thing rather than a company thing.
@@ResaleRabbit But is there anything banning them for automatically including tax in the sale price? Our receipts have at the bottom the amount of tax paid on our purchase and all goods and services pay tax. It is just that the companies are the ones to calculate it after purchase.
So now you’ve got me curious and it looks like the reason is that every state has a different tax rate (even some cities and counties) therefore when a company is advertising a product nationwide, it needs to tax after the purchase since there is such a variance. It would be much easier if we had a single unified tax rate across the country (especially with the mess it’s creating for online sellers lately) but until that happens, tax will always be calculated after the sale in the US.
Shelley yes in Australia states can only charge very few taxes like stamp duty, certainly not vat or sales tax so therefore I suppose it’s easier for us here to just include tax within the quoted price
@@Moth11 actually almost everything has GST - goods and services tax.
That little container with cereal in it probably belongs to the child that was in the stroller you found...
For sure. Someone bought the kid for a dollar and didn't want the accessories (the stroller & bowl of cereal).
Rabbit. May I ask what kind of stuff is in the Drive Medical stuff box?
At 18:30 on mute you look like an 80s mtv video from an artsy European band.
Just love eBay #hustlegrindrewind
have you ever bought back stock you had previously donated or sold off cheap
How do donations work out for you when you do your taxes? No one ever really talks about taxes or how the donations impact their write offs.
The main reason nobody talks about taxes is because it can be a liability to talk about them. Your best bet is to talk to a tax accountant. As far as donations, according to my accountant, based on the way my business is structured, I can only write off my cost when donating items.
How do you include the tax in the price online when you don't know what the tax rate is until you sell the item? Do you take the rate into account when you decide if you're going to sell to someone?
I only do that for local sales (like craigslist or Facebook marketplace).
Do you always offer free shipping for your listings?
"I got my warehouse back" -> next Lowes truck arrives! :D :D :D Great seeing your dollar sale process dude. I think the approach to sales tax is really sensible.
WHAT A SAINT
Hi rabbit understand the remotes you sell many brands but how do you no if they are fully working how can you test them all ?
One trick I use is you can point the front of the remote into a camera and you can see the infra red light blink through the camera when you push each button.
What are your thoughts on ebay's CEO resigning yesterday?
I’ll reserve my opinion for when we see what the next person will do.
I went to my first storage unit sale today and was told that any laptop, phones, tablets, USB sticks etc, cannot be taking from unit and most be handed over to storage company due the the European Union’s general data protection regulation (gdpr) 😤
My understanding is Resale Rabbit erases all data on the tablet before selling it.
Meh, most of that stuff doesn’t go for much anyways. Usually they’re pretty outdated or not working.
@@andrewcampbell336 Oh I wasn't trying to having a dig at rabbit, I'm just frustrated that if I found anything good to sell like a Mac book air or a phone or whatever I couldn't keep it if I won the storage action. I admire rabbit a lot and he's the reason I started doing this in my spare time and I've learned a lot from him, also he's a funny charter and I enjoy all videos.😄
@@ResaleRabbit Yeah, I suppose you're right but, it still sucks. I'm in talks with opening a stall at market that we have here every Sunday and I'm thinking of doing, but they want me to sign a 6 month contract and want payment for the full 6 months up front, any advice?
@@roadrash90 That's cool. I admire him too.
The Polaroid shirts made my husband and I laugh because we found 2 brand new Polaroid barbies that were a promotional item, we bought them for 1.00 for both and sold them for 35 bucks a piece! Enjoy your videos, happy sales everyone 😁
3:30 You gotta love people who don't have a brain capable of realizing the difference between selling on ecommerce platforms, like Ebay, and selling in a dying brick & mortar. They fail to grasp the concept of NUMBERS.
I love how the video just ends. lol
I’m not good at planning my videos out lol
Rabbit? Rabbit? Where did you go?
Do you have more Posca pens to sell? Are they listed on ebay?
They’re listed. I think I have one or two boxes left
What postage scale do you use?
6:16 dont go there unless ur want ur body to crawl out of ur skin :O
I'm scared o.o
Can you please tell me if you think Rabbit will like this video? I gave him a shout out. ua-cam.com/video/lDmAbzTgwRA/v-deo.html
Onkyo is always at least 10 bucks though
U know ur doing good if theres neg people keep up great videos and killin the resale game
You were doing so well with ending your dollar sale videos with an endcard. Back to the sudden cutoff? 😑
Herbalife nutrition boxes!
sell me the sega poster in the video game wire box ! lol OR the whole box
Already sold. Sorry
Do you get receipts from the places you donate too??
No, the way my business is set up, I can’t get a tax write off on most donations.
Salvation Army takes pretty much anything. So does" Teen Challenge" .
Is there an ampad anywhere close to you I'm sorry Amvets they're normally good to donate to
Do you have a online store Rabbit, love your videos
joe loane eBay name is seller:jlnoutlet
Have you got any Vizio flat screen remote controllers?
Does Paul's Pantry take non-edible items?
I don’t think so, but SVDP does and I think they’re affiliated.
Do you do a dollar sale to make profit
Of course, but it’s also a means to get rid of the junk.
Why do you pay sales tax on used items?
In the US sales tax is charged on nearly every purchase. Some places exempt food or clothing.
@@ResaleRabbit That seems unfair to me as sales tax would have already been paid on in particular consumables, coming from the EU, there would be an outrage if that happened, food and children's clothing is exempt here too.
Do you recycle
Box of tape!?
Oh! I got it taxes are important!!!!
Do you ship to Ireland ?
Can you please tell me if you think Rabbit will like this video? I gave him a shout out. ua-cam.com/video/lDmAbzTgwRA/v-deo.html
How do we get you ebay acount so I can buy?????
Deba Doo seller:jlnoutlet
😃
Salvation Army actually HELPS PEOPLE.
Goodwill are assholes.
Hi rabbit
Hey Rabbit could I buy your hat that you wear
If you bought my hat then my head would be naked
Yes but I like your hat
Randy Langworthy trade him for a sweet Packer hat
Keep grinding Mr Rabbt
hey rabbit!
Can you please tell me if you think Rabbit will like this video? I gave him a shout out. ua-cam.com/video/lDmAbzTgwRA/v-deo.html
Bttf 2 paper!
I want to come work for u
"Sell through alternative means"
(Trade for bud)
I'd be amazed.. Dude seems way too clear headed and motivated. Can't have both no matter how functional of a stoner you are lmao.
Ignorance is beautiful thing ain’t it lol people always want to comment a opinion about things that have nothing to do with them lol
If it takes about a year to sell those stuff, then why buy them anyway. Hate to see u financially short. Stay safe
How many of your viewers or fans want to meet you in person?
chris simpson Me!
@@susannaCdonovan23 Me Also!!
Sent you a ebay message! Hoping you can help me out :)
S
eBay store. seller:jlnoutlet
First.
You are ripping people off i would go buy new else where not from you.
A dollar is a rip off? Damn....
Mr Smith,,, So go elsewhere.You and your attitude are not appreciated here. No one is forcing you to buy here.