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<p>[QUOTE=&quot;MrNate, post: 4489267, member: 5515&quot;]Hi Bosko, and thank you for your kind remarks. I have an answer regarding the driving discussion/Craigslist etc but it may not be a good fit for everyone. I’m going to be a bit briefer in my response, only because I’m logged in on my phone since I can’t seem to remember my password tonight on my computer… lol</p><p><br /></p><p>1. Driving is still highly profitable for me.</p><p>2. I’m always looking for silver, but I’m buying lots of other items to resell.</p><p>3. I’m doing this as a part time business in my spare time, and so I have to file taxes.</p><p>4. SINCE I file taxes, I can claim all of my business expenses which includes my driving looking for inventory. Every mile I drive related to buying silver and resale items decreases my tax liability at the end of the year.</p><p>5. Consider the following example to illustrate:</p><p><br /></p><p>- I drive to 5 stores, each store is 10 miles apart.</p><p>- During that trip, I buy one item for $10, and later that month I resell it online for $100. My shipping costs $10, I had to pay seller fees of $15, so on the surface it appears I made a profit = $65. But in reality, the 50 miles I drove is a hidden benefit. The rate for mileage from Jan 2022 - June is set at 58.5 cents per mile and it just went up to 62.5 cents per mile for the rest of the year. Assuming I just traveled that means my 50 miles traveled is worth $29.25 in tax relief at the end of the year. The current car I’m driving gets over 40 mpg, so I’m actually making net positive money every time I drive for a business purpose.</p><p><br /></p><p>Let me know if that makes sense. There’s a few rules you need to follow to properly claim mileage. There is a great smart phone app called MileIQ that makes it very easy.[/QUOTE]</p><p><br /></p>

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