Help? How to get taxed based on your profit and not your sales?

I buy and sell phones for profit. The business is amazing and effective. However I seem to be worrying about a little issue. The thing is I just turned 18 and my goal this year is 75k profit, which seems completely doable in my area. I have to worry about taxes this year. I use paypal to do my business transactions... show more I buy and sell phones for profit. The business is amazing and effective. However I seem to be worrying about a little issue. The thing is I just turned 18 and my goal this year is 75k profit, which seems completely doable in my area. I have to worry about taxes this year. I use paypal to do my business transactions when selling to private buyer, not buying. If I buy a phone for 200 locally with cash I would tend to sell it for 350 on average through paypal, and receive 350 through paypal. So on a larger scale, if I spend 20,000 my sales would usually be around 30,000. That’s 15k profit but since I am using paypal, they keep track of sales and have no clue about how much I spend so they would think that I am making 30,000. How can I convince the bank or paypal about the actual profit I make? How do self employed resellers prove to banks how much they spend and how much profit they make? I actually bring a bill of sale on every time I buy a phone from someone. Is this good proof to show to a bank manager/accountant about how much I spend? Assuming I do reach my goal and make 75,000, the IRS taxing me for 200k-250k sales is the last thing I would want. I know the numbers seem a bit unrealistic for an 18 year old but I am dedicated to this business and I already started bringing in about 1,500-2,000 a week. Any advice would be appreciated before it is too late.
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