<p>I opened a dvd retail store which sells movies. We buy these from old dvd stores who think that these have no demand, and we sell them at a huge profit. Business is actually great!
Should I even put this in my app?</p>
<p>Yes, of course!</p>
<p>really? won’t it look like i am exploiting stores the are going out of business and also the customers? furthermore, will it not look too desperate on the application.
i mean how will i write it…list it under the ECAs as founder and owner of John’s DVDs?(it’s not john but my actual name there) won’t it sound strange? or even false?</p>
<p>Isn’t there an area for employment info? If not, this is the same at working at a video store (which I would probably put down on an app) except even better! Why wouldn’t you put it? It’s not exploitation, it’s entrepreneurship.</p>
<p>As stated above, works better if there’s a place for “work experience” or employment. </p>
<p>I think it would be better to say founder/owner of DVD resale business. Or something along those lines.
I wouldn’t call it “John’s DVDs” unless there is a place below the entry to explain what exactly it was.</p>
<p>Hopefully this is legally a business and not just selling DVDs out of a truck :).</p>
<p>Okay, I am going to be very honest. We have a bunch of empty rooms downstairs where we store the dvds, and we mostly sell it from there, so that is like our unofficial premises. We sell a LOT of dvds and make profits of about 100%, while selling below the market price. However, we don’t have a trade liscence, which is something you need to open a shop or any official business, s we had figured we didn’t need one. We sold to people we actually knew, so we figured why make such a fuss.
Does this mean that what I am doing does not qualify as an extracurricular, and so I shouldn’t put it down?</p>
<p>it’s okay…you can be honest.</p>
<p>soft bump…</p>
<p>Are you collecting and submitting state and local sales tax (doesnt sound like it)? Are you declaring your revenue on a schedule C on your personal income tax returns (withholding, FICA, state - actually double FICA if you are your own employer, etc)? Submitting quarterly estimated taxes? Operating without a business license is also a violation of local statute. If the business is above board then, of course, its a great EC. Otherwise, it illegal and unethical.</p>
<p>What you’re doing is totally illegal, and you could get in a lot of trouble, but you can still mention it. Just don’t go into too much detail.
Once you make over something like $1500 in raw sales, you’re required to legally become a business and start collecting sales tax.</p>
<p>hmmm… didnt know that. didnt make anything near 1500 either. and i am stopping NOW. well, i guess it doesnt matter as i wont be putting it on by app and anyways…it’s not like my admission would depend on this.
Thanks a lot for clearign this up…and helping me not get into more trouble.
really love you guys.</p>
<p>If you’re making some good money off this, you don’t necessarily need to stop. You can pretend to start with a clean slate and get a business license. Not sure how the whole process works but in the end, it could be a nice source of income and a good learning experience. </p>
<p>I designed and sold t-shirts without a business license. Had like $1200 in sales and $400 in profit. On my apps I just included “Self employed t-shirt design and sales”. That simple. I included $400 on any financial aid forms that asked for untaxed sources of income. I don’t think I did anything wrong. </p>
<p>If you haven’t done much in sales, you can’t get in any trouble. You just made it sound like you had made tons of money, which is where you can get in trouble if you don’t start collecting tax and whatnot.</p>