Intro: Tax Time

• Mike and Jen kick off the episode discussing tax season and the importance of handling taxes properly as eBay sellers.

Mike's Update

• Listener KK's feedback is highlighted, expressing appreciation for the show's content.

Jen's Update

• Jen shares insights into a significant sales day and the importance of proper tax management.

eBay Tax Filings

• Mike discusses his experience using TurboTax, the time investment, and plans to consult a professional next year.
• Detailed breakdown of eBay sales, refunds, fees, and shipping expenses.
• Discussion on deductions, including eBay fees, promoted listing fees, and shipping labels.
• Introduction to basic profit and deduction concepts for eBay businesses.

Common Deductions and Business Expenses

• Jen elaborates on common items and deductions applicable to eBay businesses, including home office expenses, utilities, and phone bills.
• Mike raises a question regarding using owed taxes to purchase business-related items.

Social Engagement

• Call to action for audience engagement, including reviews on Apple Podcasts and YouTube subscriptions.

Tupperware Update

• Review of recent Tupperware sales, net profits, and listing statistics.

Tax Trivia

• Discussion on deducting pets as business expenses and the limitations set by the IRS.
• Examples of frivolous or unreasonable tax deduction attempts.

Ending

• Mike and Jen sign off with a tagline encouraging listeners to seek their own treasures responsibly and humorously reflecting on deductible expenses.

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