Virginia Gun Owners Forum - VGOF

Posted this over on arfcom and got nowhere fast.

About 3 years ago I quit my job and started by own business, nothing huge, just selling gun (1911) parts on gunbroker. It actually grew so much that I currently have a inventory of over 5000 mostly used parts. The problem is were expecting now and I had to go back to work 3 months ago to get group insurance to cover her. I now work 6 days a week and dont have the time or feel like running the business like I did.

I used to have over 700 auctions running at one time and sold 30-40 items a week and could bring in anywhere from $200 to $2000 on a very good day hints why I did everything legal. Now I am down to under 200 items, mostly over priced or junk and I sell 3-4 a week, I sold under $100 last week.

The real issue I have is the paperwork and inventory along with the state sales tax ect ect ect.... it just takes way to much of my time. I only have 1 day of the week off and dont want to spend half the day dealing with it.

Should I / Can I give up my business license and do it as a "hobby" since my current pay is way over what I am selling monthly? I dont expect to list much more unless I need some cash for ammo or something small.

Are you an LLC? If so, that's only $50 per year to keep current. Sales tax is quarterly, so one day every quarter to get that in line and file...how much does your county charge for a business license?

My first inclination is to keep it current if it's cheap to do so ($100 to $200 per year?) That way it's always there if you need it.

The real pita is the tax on inventory, runs me about $1000 a year.

Money is not the real issue, I just dont have much free time and I dont want to spend it doing paperwork. Would it be legal to do it as a hobby since my current income is way above what I am pulling in? Or am I going to have to shut down completely if I give up my license?