If i buy something at $ 50 and sell it at $ 30, can it be called doing business?

Tamatar Singh Zindabad 08/07/2018. 7 answers
Business & Finance Small Business

Suppose i buy something at $ 50 and use the item and sell it to someone as used product at $ 30.Here i am not making any profit. So, can it be called doing business with that person?

7 Answers

Fe Aviso 08/08/2018.

yes if you utilized the item to the max

Rinkydink 08/08/2018.

You are not a business and until you establish one you cannot operate as a business.

Uncle Pennybags 08/08/2018.

No, it's not a business.

In that particular instance, you are simply selling off something that isn't useful to you any more. You are making a deal, but not really engaged in business.

Doug 08/08/2018.

Just so long as you got use out of it, yes, it would be called business, and anyone saying otherwise is just full on dedication to both stupid and wrong. Likely, they just are not reading or listening to you at all.

The Oracle of Omigod 08/08/2018.

Who do you think you are, the government?

not 08/08/2018.

Making profit is not what makes something a business. Business generally includes any activity carried on for the production of income from selling goods or performing services. So did you sell your belonging because you no longer wanted it or as part of an activity to create income?

Gerald 08/08/2018.

yes you are just trading at a loss and can claim tax rebates thats novel think anyone has clocked on yet ha ha ha only half the world

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