Hello.
I am currently a senior in high school, and over the past years, I have started to resell shoes such as Yeezys and Off whites. Mainly a way to support my family. Now its college application season, and I was wondering if I could consider this as a business. So far, I have done 70k in gross sales. However, my main concern is that I didn’t legally form an LLC. I mainly sold these shoes to Sneaker shops in LA such as the cool and flight club. I also sold a few items on stock. And for those who are curious no, I did not use any bots or loop in-store. I have an alternate way of getting these shoes.
Would you consider this as an extracurricular? I did put a lot of hours into this.
It’s essentially a small business. Yes, you can put it as an extracurricular. There is no requirement to form an LLC. People do that mainly for tax and liability purposes. Speaking of taxes, I hope you declared this income and paid taxes on it.