How I made over $20,000.00 selling knives this year!

actually, I was pushed into retirement... most of the knives I am selling were purchased over the last 40+ years... so I have had them for quite a while (except for some recent release Shirogorovs and Spydercos, etc) so as far as this year is concerned.... looks like not the worst investment out there (beats gambling losses...) ;)
 
I have been there. Sold nearly everything upon leaving the workplace.

I am going to be back in selling mode very soon. Too many knives!
 
Reminds me of an old joke I heard back in the day.

Two fellows decided to get in the watermelon business. They buy a pickup truck, and go out to the country and buy watermelons at $1.00 a piece, and then bring them into the city and sell them for 50 cents a piece. After a couple of months, the one guy says to the other "We've been doing this for a while now and we're not making any money". So the other one says "I told you we need a bigger truck."

Economics 101.
 
So you work for the US Govt?
Business licenses are usually a State requirement and issued in the county you live in. Easy to get. You just have to pay taxes on your earnings.

Hobbyist? Probably doesn't need a license. It is generally a matter of scale. Pay Pal.... the revenue is reported over a certain amount and you take it from there. Tis why I don't want a Pay Pal account. I do have a Square account and that income is reported.

If I sold off my firearms, they would far exceed the 26K number. I'm a collector and it is time to slowly sell them off and give them good homes. As far as I know, since I am not a FFL, I don't need a business license for this.
 
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my wife and I have gone back and forth on the business license... I am keeping meticulous records of sales... and plan on paying taxes... just hoping to get by passing it off as 'selling off a hobby' and paying taxes on the profit from any sales... (not much) but the volume does look odd... well, it was this or I was going to get my own episode on 'Hoarders' (according to the wife)
 
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