Couponing is a whole lot of fun. Once you get into it, you will try out all the deals you find. This helps you perfect your technique for shopping and finding deals. When you get good, you may start compiling a stockpile of goods. These goods will help keep your household stocked up on the essentials. Those with more than they need may even begin selling goods to their family, friends, and neighbors. If you’re thinking of selling your stockpile, make sure you know the risks of selling coupon stockpiles.
Local Law
The U.S. Supreme Court maintains that buying and selling items from your stockpile is not against the law. Anyone can do it. However, some states and counties may require you to operate under a legal business. The IRS also expects its cut from your profits. You must report the sale of your goods as income and pay takes on profits above $400.
Shelf-Life
Once you know it’s legal to sell your stockpile, you must make sure you are aware of your product shelflife. This is especially true for food items. It also extended to beauty and health products. You do not want to sell someone something that is past expiration. If the person becomes ill and you are found negligent, you open yourself up to legal woes.
Health Risk
While expired products pose their own health risk, there are other health risks to consider. Where and how your store your extra product is important. You have to be sure the products are not stored in high-temperature areas or in direct sunlight. If your products are not stored properly you can be sued or face other legal action. Be sure to always check the safety food website to ensure there are no recalls are other important warnings about something in your stockpile. Doing so, and advertising the sale by dates, and acknowledging there are no issues with the product, protect you from liability.
Selling your stockpile is legal. What you should ask yourself is, “what are the risks of selling your stockpile?” When you follow the tips above, you are safe and so are your customers. For more coupon savings tips check out these articles:
How to Get Started with Coupons
Stores the Allow Double Coupons
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