Starting An eBay Business - Accounting and Tax Tips

[mandy]

With millions of potential customers just a couple of clicks away from your products, setting up an eBay store is a cheap, easy and massively appealing way to do business online. However, as with starting up any business, there are challenges involved as well particularly when it comes to tax, accounting and the legal side of things.

Predominantly, the people that trade via eBay tend not to be aware of some of the basic - but critical administrative requirements of running a business. This is particularly the case with those eBay sellers who begin by selling odds and ends and slowly become a business. Other people that sell online regularly to subsidise their income moonlighters likewise have to be careful...

full article: http://www.bytestart.co.uk/content/24/24...ness.shtml

Article includes checklists of 7 things you should do and 7 things you should avoid when starting an "ebay business".  A few of the items (VAT) are UK specific, but most of them apply to any country.