2022 - the year that kills eBay?
4-Jan-22 10:19pm
#1 MrBean
You guys think that new 1099k mandate for > $600 is gonna be the slow death of eBay? Or perhaps get them to rethink their fee structures?
The simple fact that we're getting taxed on yet another venue, is disheartening. What isn't taxed anymore...
#1 MrBean
You guys think that new 1099k mandate for > $600 is gonna be the slow death of eBay? Or perhaps get them to rethink their fee structures?
The simple fact that we're getting taxed on yet another venue, is disheartening. What isn't taxed anymore...
4-Jan-22 10:35pm
#2 benstylus
I think we've done this topic about the 1099k thing to death already.
If you are paying tax on the full amount of your ebay sales, you need to hire an accountant
#2 benstylus
I think we've done this topic about the 1099k thing to death already.
If you are paying tax on the full amount of your ebay sales, you need to hire an accountant
4-Jan-22 10:47pm
#3 SwiftJAB
Nope, eBay isn't going anywhere. If you haven't paying income tax on things that generate income, you've basically not been paying your taxes correctly. If your selling things for less than what you paid for them, you're not making money on it. Depending on what you're selling you're most likely getting more than what you'd get for it by selling it via a yard sale or pawn shop.
#3 SwiftJAB
Nope, eBay isn't going anywhere. If you haven't paying income tax on things that generate income, you've basically not been paying your taxes correctly. If your selling things for less than what you paid for them, you're not making money on it. Depending on what you're selling you're most likely getting more than what you'd get for it by selling it via a yard sale or pawn shop.
5-Jan-22 12:47am
#4 egg
I started using Mercari again because ebay revoked my selling privileges. They want my routing number. As if I know that. x_x
Only one time I was asked for my routing number and it was a decade ago. I think it was so I can order checks from walmart. Yeah, checks. Somehow I still haven't run out of them. Oh man I hope I don't run out of checks.
#4 egg
I started using Mercari again because ebay revoked my selling privileges. They want my routing number. As if I know that. x_x
Only one time I was asked for my routing number and it was a decade ago. I think it was so I can order checks from walmart. Yeah, checks. Somehow I still haven't run out of them. Oh man I hope I don't run out of checks.
5-Jan-22 4:14am
#5 Miranda
You can get the bank routing number from your checks. It's on every single one of them.
#5 Miranda
You can get the bank routing number from your checks. It's on every single one of them.
5-Jan-22 4:58am
#6 mcorrado
Depending on what you're selling, it should be very easy for you to never report a profit. How is the ORS going to prove that $20 NES game you sold wasn't our hated 30 years ago for $60 or whatever it went for?
You now created a $40 net loss that can offset gains on another sale. This works with basically anything. Certainly be harder if you're selling higher value items that don't/didn't retail for that much, but still should be able to offset any gains for tax purposes with enough sales.
#6 mcorrado
Depending on what you're selling, it should be very easy for you to never report a profit. How is the ORS going to prove that $20 NES game you sold wasn't our hated 30 years ago for $60 or whatever it went for?
You now created a $40 net loss that can offset gains on another sale. This works with basically anything. Certainly be harder if you're selling higher value items that don't/didn't retail for that much, but still should be able to offset any gains for tax purposes with enough sales.
5-Jan-22 5:44am
#7 benstylus
mcorrado wrote:
Depending on what you're selling, it should be very easy for you to never report a profit. How is the ORS going to prove that $20 NES game you sold wasn't our hated 30 years ago for $60 or whatever it went for?
To be fair, if you get audited, it's not the IRS that has to prove things to you. You're thinking the wrong way around
#7 benstylus
mcorrado wrote:
Depending on what you're selling, it should be very easy for you to never report a profit. How is the ORS going to prove that $20 NES game you sold wasn't our hated 30 years ago for $60 or whatever it went for?
To be fair, if you get audited, it's not the IRS that has to prove things to you. You're thinking the wrong way around
5-Jan-22 6:35am
#8 MrBean
benstylus wrote:
I think we've done this topic about the 1099k thing to death already. If you are paying tax on the full amount of your ebay sales, you need to hire an accountant
Oh for real? My bad, I honestly haven't seen it discussed here. Was it in a mega thread?
#8 MrBean
benstylus wrote:
I think we've done this topic about the 1099k thing to death already. If you are paying tax on the full amount of your ebay sales, you need to hire an accountant
Oh for real? My bad, I honestly haven't seen it discussed here. Was it in a mega thread?
5-Jan-22 6:46am
#9 MrBean
SwiftJAB wrote:
Nope, eBay isn't going anywhere. If you haven't paying income tax on things that generate income, you've basically not been paying your taxes correctly. If your selling things for less than what you paid for them, you're not making money on it. Depending on what you're selling you're most likely getting more than what you'd get for it by selling it via a yard sale or pawn shop.
This would require itemized deductions then right? Further, how do you qualify sale of say a video game or computer component that you don't have a ten year old paper trail on? Clearly I'm not well educated on the manner but I feel like the masses will ultimately lose out here.
Like just recently, I dismantled and sold off the components of two old computers. One is 11 years old, the other is 5 years old. Already paid the tax on them when I bought but now when I sell... I'm gonna get taxed again right?
#9 MrBean
SwiftJAB wrote:
Nope, eBay isn't going anywhere. If you haven't paying income tax on things that generate income, you've basically not been paying your taxes correctly. If your selling things for less than what you paid for them, you're not making money on it. Depending on what you're selling you're most likely getting more than what you'd get for it by selling it via a yard sale or pawn shop.
This would require itemized deductions then right? Further, how do you qualify sale of say a video game or computer component that you don't have a ten year old paper trail on? Clearly I'm not well educated on the manner but I feel like the masses will ultimately lose out here.
Like just recently, I dismantled and sold off the components of two old computers. One is 11 years old, the other is 5 years old. Already paid the tax on them when I bought but now when I sell... I'm gonna get taxed again right?
5-Jan-22 7:37am
#10 benstylus
MrBean wrote:
benstylus wrote:> I think we've done this topic about the 1099k thing to death already.> > If you are paying tax on the full amount of your ebay sales, you need to hire an> accountant> |> Oh for real? My bad, I honestly haven't seen it discussed here. Was it in a mega thread?
https://m.gametz.com...
#10 benstylus
MrBean wrote:
benstylus wrote:> I think we've done this topic about the 1099k thing to death already.> > If you are paying tax on the full amount of your ebay sales, you need to hire an> accountant> |> Oh for real? My bad, I honestly haven't seen it discussed here. Was it in a mega thread?
https://m.gametz.com...
5-Jan-22 7:47am
#11 MrBean
benstylus wrote:
MrBean wrote:> benstylus wrote: |>> I think we've done this topic about the 1099k thing to death already. |>> |>> If you are paying tax on the full amount of your ebay sales, you need to hire> an |>> accountant |>> > |>> > Oh for real? My bad, I honestly haven't seen it discussed here. Was it in a mega> thread? https://m.gametz.com...
Well crap, thanks! I'll close this topic.
#11 MrBean
benstylus wrote:
MrBean wrote:> benstylus wrote: |>> I think we've done this topic about the 1099k thing to death already. |>> |>> If you are paying tax on the full amount of your ebay sales, you need to hire> an |>> accountant |>> > |>> > Oh for real? My bad, I honestly haven't seen it discussed here. Was it in a mega> thread? https://m.gametz.com...
Well crap, thanks! I'll close this topic.
17-May-23 1:09pm
#12 MrBean
Big thread (https://gametz.com/G...) got closed.
Don't remember what I filled out where or when, but have recieved two emails recently:
------------------------
Dear Mr. Bean,
Thank you for your letter on the 1099-K reporting threshold. This is an important issue that will impact many people in Ohio and across the country. I’m grateful to hear from my constituents about it. I agree with you and I oppose this change in policy.
As you know, Form 1099-K is an information form typically provided to individuals or small business owners that receive payments via a third-party payment system like PayPal, Apple Pay, or Venmo. The minimum reporting threshold for the form was changed as part of the American Rescue Plan. The previous threshold required reporting for gross payments where there were over 200 transactions that totaled at least $20,000 per year. The new threshold requires reporting transactions in excess of $600 with no minimum number of transactions.
While I understand the motivation behind this new policy, I believe it would needlessly subject American families to excessive paperwork requirements. It also validates the premise that the IRS needs to be checking up on everyday Americans for their routine transactions like rent, car payments, and furniture expenses. The IRS already gathers droves of information on taxpayers each year during filing season.
In my view, the IRS should be focused on scrutinizing international corporations who shield intangible income, large corporations who pay no income tax, and high-net-worth individuals who play by different rules. These areas are ripe for the IRS to close the tax gap and ensure better revenue collection. Instead, the agency is putting average Americans who faithfully pay their taxes through excessive and undue scrutiny for engaging in digital money transfers.
Thankfully, the IRS delayed implementing the new threshold until at least the end of 2023. Hopefully, they will reconsider this policy in the midst of staunch opposition. I am working with my colleagues in the Senate to determine the best way to address this issue. My staff and I have been closely reviewing the policy. We have had several productive meetings with constituents and stakeholders to learn about how this policy will impact them, their livelihoods, and Ohio as a whole.
The input of constituents like you has been invaluable in helping me develop an informed opinion on the subject. I hope you will continue to communicate with me on important policy matters.
Sincerely,
JD Vance
United States Senator
------------------------
Dear Mr. Bean,
Thank you for contacting my office regarding the 1099-K reporting threshold. I appreciate your engagement on this issue. I have always said though it was my name on the ballot, we are all going to Congress. Bringing our community’s voice to Washington is only possible when I hear from you about the issues important to you — thank you for doing your part and for the opportunity to share my thoughts with you on this matter.
As part of the American Rescue Plan Act of 2021, Congress lowered the 1099-K reporting threshold from $20,000 to $600. The Internal Revenue Service (IRS) announced a delay in the implementation of the change - the threshold was originally scheduled to take effect for filing 2022 taxes, but will now take effect for filing 2023 taxes.
Members of both parties have previously introduced legislation to address this concern, including H.R. 488, the SNOOP (Stop the Nosy Obsession with Online Payments Act) in this 118th Congress, and H.R. 7079, the Cut Red Tape for Online Sales Act from the 117th Congress. While I am not on the House Committee on Ways and Means, where this legislation is being considered, I will continue to monitor its progression through Congress.
By selling used goods online, Ohioans are able to take advantage of a much-needed economic lifeline. These transactions, which are not creating taxable income, should not be triggering IRS reporting requirements. I believe the reporting threshold should be increased to guarantee burdensome and complicated reporting requirements do not result in a seller’s incorrect overpayment or ineligibility for certain tax benefits.
Knowing your views helps inform my decision-making, and your message will be carefully considered as the U.S. House of Representatives reviews and votes on related legislation. Thank you again for contacting me about the issues that are most important to you, and please do not hesitate to reach out again if you have future thoughts or concerns as the legislative session continues.
It is my honor to serve our community in Congress. For a full list of services my office provides and how to get in touch, please visit sykes.house.gov/services. If I can ever be of assistance, please do not hesitate to reach out.
Sincerely,
Rep. Emilia Strong Sykes
Ohio’s 13th Congressional District
#12 MrBean
Big thread (https://gametz.com/G...) got closed.
Don't remember what I filled out where or when, but have recieved two emails recently:
------------------------
Dear Mr. Bean,
Thank you for your letter on the 1099-K reporting threshold. This is an important issue that will impact many people in Ohio and across the country. I’m grateful to hear from my constituents about it. I agree with you and I oppose this change in policy.
As you know, Form 1099-K is an information form typically provided to individuals or small business owners that receive payments via a third-party payment system like PayPal, Apple Pay, or Venmo. The minimum reporting threshold for the form was changed as part of the American Rescue Plan. The previous threshold required reporting for gross payments where there were over 200 transactions that totaled at least $20,000 per year. The new threshold requires reporting transactions in excess of $600 with no minimum number of transactions.
While I understand the motivation behind this new policy, I believe it would needlessly subject American families to excessive paperwork requirements. It also validates the premise that the IRS needs to be checking up on everyday Americans for their routine transactions like rent, car payments, and furniture expenses. The IRS already gathers droves of information on taxpayers each year during filing season.
In my view, the IRS should be focused on scrutinizing international corporations who shield intangible income, large corporations who pay no income tax, and high-net-worth individuals who play by different rules. These areas are ripe for the IRS to close the tax gap and ensure better revenue collection. Instead, the agency is putting average Americans who faithfully pay their taxes through excessive and undue scrutiny for engaging in digital money transfers.
Thankfully, the IRS delayed implementing the new threshold until at least the end of 2023. Hopefully, they will reconsider this policy in the midst of staunch opposition. I am working with my colleagues in the Senate to determine the best way to address this issue. My staff and I have been closely reviewing the policy. We have had several productive meetings with constituents and stakeholders to learn about how this policy will impact them, their livelihoods, and Ohio as a whole.
The input of constituents like you has been invaluable in helping me develop an informed opinion on the subject. I hope you will continue to communicate with me on important policy matters.
Sincerely,
JD Vance
United States Senator
------------------------
Dear Mr. Bean,
Thank you for contacting my office regarding the 1099-K reporting threshold. I appreciate your engagement on this issue. I have always said though it was my name on the ballot, we are all going to Congress. Bringing our community’s voice to Washington is only possible when I hear from you about the issues important to you — thank you for doing your part and for the opportunity to share my thoughts with you on this matter.
As part of the American Rescue Plan Act of 2021, Congress lowered the 1099-K reporting threshold from $20,000 to $600. The Internal Revenue Service (IRS) announced a delay in the implementation of the change - the threshold was originally scheduled to take effect for filing 2022 taxes, but will now take effect for filing 2023 taxes.
Members of both parties have previously introduced legislation to address this concern, including H.R. 488, the SNOOP (Stop the Nosy Obsession with Online Payments Act) in this 118th Congress, and H.R. 7079, the Cut Red Tape for Online Sales Act from the 117th Congress. While I am not on the House Committee on Ways and Means, where this legislation is being considered, I will continue to monitor its progression through Congress.
By selling used goods online, Ohioans are able to take advantage of a much-needed economic lifeline. These transactions, which are not creating taxable income, should not be triggering IRS reporting requirements. I believe the reporting threshold should be increased to guarantee burdensome and complicated reporting requirements do not result in a seller’s incorrect overpayment or ineligibility for certain tax benefits.
Knowing your views helps inform my decision-making, and your message will be carefully considered as the U.S. House of Representatives reviews and votes on related legislation. Thank you again for contacting me about the issues that are most important to you, and please do not hesitate to reach out again if you have future thoughts or concerns as the legislative session continues.
It is my honor to serve our community in Congress. For a full list of services my office provides and how to get in touch, please visit sykes.house.gov/services. If I can ever be of assistance, please do not hesitate to reach out.
Sincerely,
Rep. Emilia Strong Sykes
Ohio’s 13th Congressional District
27-May-23 11:19pm
#13 Xena
i wish ebay would die so my son would stop buying crap from there and pay his portion of the damn car insurance
#13 Xena
i wish ebay would die so my son would stop buying crap from there and pay his portion of the damn car insurance
28-May-23 10:47am
#14 sinnie
These sites aren't going anywhere but we are going to see a shift. Amazon has made people think shipping, returns and packaging is free, but they are beginning to charge for these things and people are angry about it. At the same time most cry for paying "a living wage" but how DARE you charge me what a product/service is worth.
Anyway, I'm rather tired of being taxed all to hell. We pay for new things, we pay to continue to own things (cars, personal property tax) and we pay when we sell things, and buy things used a lot of times and those sellers in turn pay tax too. Not to mention the sellers fees online are insane and can't really be lowered because their costs are up too.
I sort of think stores and malls might make a comeback in the next 10yrs personally. Shipping is getting too expensive to re-sell online for the average user not to mention the cost of goods soaring. We had it good for too long. I remember being sad when Priority Mail hit $5.95 for 1lb and now it's what $9 or $10?
#14 sinnie
These sites aren't going anywhere but we are going to see a shift. Amazon has made people think shipping, returns and packaging is free, but they are beginning to charge for these things and people are angry about it. At the same time most cry for paying "a living wage" but how DARE you charge me what a product/service is worth.
Anyway, I'm rather tired of being taxed all to hell. We pay for new things, we pay to continue to own things (cars, personal property tax) and we pay when we sell things, and buy things used a lot of times and those sellers in turn pay tax too. Not to mention the sellers fees online are insane and can't really be lowered because their costs are up too.
I sort of think stores and malls might make a comeback in the next 10yrs personally. Shipping is getting too expensive to re-sell online for the average user not to mention the cost of goods soaring. We had it good for too long. I remember being sad when Priority Mail hit $5.95 for 1lb and now it's what $9 or $10?
28-May-23 11:27am
#15 benstylus
I have repeatedly said I would be willing to have a box fee upcharge for Amazon to ship in a box rather than their crapty non-protective mailers.
Almost all of my Amazon returns ate because they just tossed it in a mailer and it got crushed in transit.
(I have an item that I need to drop off at my local ups store for this very reason).
Funnily enough, ebay sellers have generally been more conscientious when it comes to shipping. Several games I've order have unexpectedly arrived with those clear protective boxes around them inside the packaging. Wasn't advertised in the listing, they just did it.
One of my favorite game designers, James Ernest, does a lot of stuff that you can print and play for free, or order professionally made cards on drive thru cards. With regards to the latter option, he said something to the effect of "sure, shipping is expensive, but shipping IS expensive! Buy more than one thing at a time!"
#15 benstylus
I have repeatedly said I would be willing to have a box fee upcharge for Amazon to ship in a box rather than their crapty non-protective mailers.
Almost all of my Amazon returns ate because they just tossed it in a mailer and it got crushed in transit.
(I have an item that I need to drop off at my local ups store for this very reason).
Funnily enough, ebay sellers have generally been more conscientious when it comes to shipping. Several games I've order have unexpectedly arrived with those clear protective boxes around them inside the packaging. Wasn't advertised in the listing, they just did it.
One of my favorite game designers, James Ernest, does a lot of stuff that you can print and play for free, or order professionally made cards on drive thru cards. With regards to the latter option, he said something to the effect of "sure, shipping is expensive, but shipping IS expensive! Buy more than one thing at a time!"
28-May-23 2:47pm
#16 Gypsy
sinnie wrote:
I sort of think stores and malls might make a comeback in the next 10yrs personally. Shipping is getting too expensive to re-sell online for the average user not to mention the cost of goods soaring. We had it good for too long. I remember being sad when Priority Mail hit $5.95 for 1lb and now it's what $9 or $10?
If I remember right when I really got started doing buy/sell/trade online small packages were doable for $2.61 first class. Now it starts closer to $5. Makes smaller deals not really worth it. And yeah priority even paying online really starts over $8 now.
benstylus wrote:
Funnily enough, ebay sellers have generally been more conscientious when it comes to shipping. Several games I've order have unexpectedly arrived with those clear protective boxes around them inside the packaging. Wasn't advertised in the listing, they just did it.
I double box just about anything with a box. I get box protectors for my boxed games as well, so if it's something from my collection it will be in that as well. Just not worth risking damage.
#16 Gypsy
sinnie wrote:
I sort of think stores and malls might make a comeback in the next 10yrs personally. Shipping is getting too expensive to re-sell online for the average user not to mention the cost of goods soaring. We had it good for too long. I remember being sad when Priority Mail hit $5.95 for 1lb and now it's what $9 or $10?
If I remember right when I really got started doing buy/sell/trade online small packages were doable for $2.61 first class. Now it starts closer to $5. Makes smaller deals not really worth it. And yeah priority even paying online really starts over $8 now.
benstylus wrote:
Funnily enough, ebay sellers have generally been more conscientious when it comes to shipping. Several games I've order have unexpectedly arrived with those clear protective boxes around them inside the packaging. Wasn't advertised in the listing, they just did it.
I double box just about anything with a box. I get box protectors for my boxed games as well, so if it's something from my collection it will be in that as well. Just not worth risking damage.
28-May-23 2:54pm
#17 Foxhack
I just sold a GBA game in box and I double boxed it, because I don't trust USPS.
That said, my sales have gone down horrendously in the past couple of months... I'm barely making ends meet now...
#17 Foxhack
I just sold a GBA game in box and I double boxed it, because I don't trust USPS.
That said, my sales have gone down horrendously in the past couple of months... I'm barely making ends meet now...
29-May-23 8:47am
#18 sinnie
benstylus wrote:
I have repeatedly said I would be willing to have a box fee upcharge for Amazon to ship in a box rather than their crapty non-protective mailers. Almost all of my Amazon returns ate because they just tossed it in a mailer and it got crushed in transit. (I have an item that I need to drop off at my local ups store for this very reason). Funnily enough, ebay sellers have generally been more conscientious when it comes to shipping. Several games I've order have unexpectedly arrived with those clear protective boxes around them inside the packaging. Wasn't advertised in the listing, they just did it. One of my favorite game designers, James Ernest, does a lot of stuff that you can print and play for free, or order professionally made cards on drive thru cards. With regards to the latter option, he said something to the effect of "sure, shipping is expensive, but shipping IS expensive! Buy more than one thing at a time!"
Amazon is such a hypocrite too when it comes to their packaging. They have boxes that boast "made with less materials!" and it's really basically paper that is trying to be a box. They break more items than they protect, we handle the returns (and EVERYTHING has to be bagged in plastic) and 90% of it goes to the landfill. They'd make the planet better and save a ton of money to just do it right in the first place, and if they gotta charge for it, just do it because people are already addicted to shopping on Amazon due to the ease of things.
But yeah, shipping hurts. I still sell decals occassionally and it costs me just under $4 to ship first class and get tracking. Some of my stickers alone are $3. I don't get many takers, but some pay it. I don't ship without tracking because they usually never show up and it's a pain in the ass to remake the same product when USPS loses it.
#18 sinnie
benstylus wrote:
I have repeatedly said I would be willing to have a box fee upcharge for Amazon to ship in a box rather than their crapty non-protective mailers. Almost all of my Amazon returns ate because they just tossed it in a mailer and it got crushed in transit. (I have an item that I need to drop off at my local ups store for this very reason). Funnily enough, ebay sellers have generally been more conscientious when it comes to shipping. Several games I've order have unexpectedly arrived with those clear protective boxes around them inside the packaging. Wasn't advertised in the listing, they just did it. One of my favorite game designers, James Ernest, does a lot of stuff that you can print and play for free, or order professionally made cards on drive thru cards. With regards to the latter option, he said something to the effect of "sure, shipping is expensive, but shipping IS expensive! Buy more than one thing at a time!"
Amazon is such a hypocrite too when it comes to their packaging. They have boxes that boast "made with less materials!" and it's really basically paper that is trying to be a box. They break more items than they protect, we handle the returns (and EVERYTHING has to be bagged in plastic) and 90% of it goes to the landfill. They'd make the planet better and save a ton of money to just do it right in the first place, and if they gotta charge for it, just do it because people are already addicted to shopping on Amazon due to the ease of things.
But yeah, shipping hurts. I still sell decals occassionally and it costs me just under $4 to ship first class and get tracking. Some of my stickers alone are $3. I don't get many takers, but some pay it. I don't ship without tracking because they usually never show up and it's a pain in the ass to remake the same product when USPS loses it.
29-May-23 12:26pm
#19 Foxhack
I used to get stickers from an artist I used to support on Patreon but I stopped when I realized he spent more money sending me stickers than what I was actually paying him.
#19 Foxhack
I used to get stickers from an artist I used to support on Patreon but I stopped when I realized he spent more money sending me stickers than what I was actually paying him.
29-May-23 12:32pm
#20 nonamesleft
Foxhack wrote:
I used to get stickers from an artist I used to support on Patreon but I stopped when I realized he spent more money sending me stickers than what I was actually paying him.But why stop? It's his choice if he wants to pay. Maybe he was viewing it as an investment in customers?
#20 nonamesleft
Foxhack wrote:
I used to get stickers from an artist I used to support on Patreon but I stopped when I realized he spent more money sending me stickers than what I was actually paying him.But why stop? It's his choice if he wants to pay. Maybe he was viewing it as an investment in customers?
29-May-23 12:35pm
#21 Foxhack
nonamesleft wrote:
Foxhack wrote:> I used to get stickers from an artist I used to support on Patreon but I stopped> when I realized he spent more money sending me stickers than what I was actually> paying him. But why stop? It's his choice if he wants to pay. Maybe he was viewing it as an investment in customers?
... I stopped having the stickers sent to me.
I had to turn off my patreon for other reasons. :p
#21 Foxhack
nonamesleft wrote:
Foxhack wrote:> I used to get stickers from an artist I used to support on Patreon but I stopped> when I realized he spent more money sending me stickers than what I was actually> paying him. But why stop? It's his choice if he wants to pay. Maybe he was viewing it as an investment in customers?
... I stopped having the stickers sent to me.
I had to turn off my patreon for other reasons. :p
2022 - the year that kills eBay?