Insiders Secrets to Flea Market Profits by Bud Austin - HTML preview

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Chapter Twenty Eight

The Sales Tax Trap

In some areas, sales tax agents will sneak into a market and try to catch vendors that are not collecting sales tax. They often pose as a husband and wife. Just an honest couple looking for a cash buy. Usually, they are dressed well and often have those black government-worker type of leather shoes on.

One trick that they pull is to wait until you are busy packing your stuff. They come up and ask about something and then make a cash offer. You are busy

thinking about getting down the road and this will be your last quick sale. It’s just a few extra dollars in you wallet. So, you quickly take their money and continue packing. Got Ya!

What happened? You did not write the sale down in your record book, including the sales tax! They usually write you up right there on the spot. Your weekend is ruined. A court appearance, confiscation of your cash box, records, even your merchandise and fines …it goes on and on.

It is a lot easier to make a habit of writing each sale down as it happens and keep your sales record book close by until the last box is packed. Make sure that you keep each day and location separate. This really is helpful when you want to remember how well you did and if it is worth going back to that market.

I recommend a traveling logbook for your personal records. Keep the sales records in a separate book. Your logbook will become a valued friend as you look back on Copyright © 2004 Larry L. Austin

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the places you have been. The fun, the excitement, the ‘stuff that happened times’.

Years later, you can smile at all of the wonderful times you have had on the road.

You should include what happened at the market:

the weather

the market itself - good or not so good

how much you took in and

tips from other vendors.

Believe me, a few months or so down the road and you will get everything mixed up without a logbook. It’s also a great way to head off an argument with your partner!

Copyright © 2004 Larry L. Austin

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