Editing Challenge - Module 4

Revise the message below from a financial planner responding to an inquiry about eBay profits. The message suffers from proofreading, spelling, grammar, punctuation, wordiness, and other writing faults (such as fragments) that require correction. Study the guidelines in the Grammar/Mechanics Handbook.

Riviera Financial Planning

certified financial planners

2230 Gibson Boulevard

Albuquerque, NM 87108

505.256.1002

[Insert current date and add line spaces below to center the letter on the page.]

Ms Stephanie Jimenez

2509 Blake Road

Albuquerque, NM, 87110

Dear Stephany:

I just wanted to let you know that, as your Financial Planner, Im happy to respond to your request for more information and clarification on the Tax status of eBay profits.

As you in all probability are all ready aware of, you can use eBay to clean out your closets or eBay can be used to run a small business. Your smart to enquire about your tax liability. Although there is no clear line that separates fun from profit or a hobby from a business. One thing is certin, the IRS taxs all income.

There are a number of factors that helps determine whether or not your hobby should or should not be considered a business. To use eBay safely, the following questions should be considered:

1. Do you run the operation in a business like manner? Do you keep records, is your profit and loss tracked, and how about keeping a seperate checking account?

2. Do you devote alot of time and effort to eBay? If you spend eighteen hours a day selling on eBay the IRS would tend to think your in a business.

3. Some people depend on the income from their eBay activitys for their livelihood.

Are you selling items for more then they cost you? If you spend five dollars for a Garage Sale vase and sell it for fifty dollars the IRS would probably consider this a business transaction. All profits is taxable. Even for eBay sellers who are just playing around. If you wish to discuss this farther please call me at 256-1002.

Sincerely,

Marcy Martinez

Certified Financial Planner