Ask Me Anything About Ebay

[cantbeatluck]

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My company which features myself, my wife, and one part time shipper generates around 120k a month profit after wages, expense, ebay fees etc...we pay the shipper 8 bucks an hour and wife and I take 1,000-3500 a week depending on what we need etc.

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If you're making 120k profit a month:
1. Why dont you take bigger salaries from the company, i.e. what type of working capital do you need to re-invest?
2. Why dont you hire more people?

3. How is what you do different than the "I sold it on EBAY" stores?

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The state I live in is such that I have a 7500 sq foot house and its paid for, it was under 500k. I drive a nice car as does the wife and we have every toy we want etc. I dont take a bigger salary as I dont really need it, and being a LLC I can take a big check at the end of every year without the tax worries of a S.P. ...

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just to simplify I'm going to use easy numbers

say your LLC makes $1,000,000
you pay your self $50k
you give yourself a $150k bonus (end of year)

what do you do with the remaining 800k?
Can you just leave it in the company checking account?
Can you invest it in something as a company asset?

are these things something you learned how to do through school/CPAs/business financial advisor?

I def see myself moving away from my hamster wheel and starting an LLC eventually....where/how did you get started?

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She has set up investments for me through the company, insurance that we pay, and we expense a lot of things. Some years if I make to much I will buy all new computers, cameras etc. A cpa would better answer that though for you.