eBay tax reporting changes

Log in or Sign up to hide this ad.

They've been doing their best to kill it with dumb decisions since day one and failed every time. The idea is too good, the name is too well known it's not going anyway. It's an international multi billion dollar company its here to stay. Theyve done over 10 billion for several years and now they get part of the payment fee too going forward.

I don't have to like all the changes theyve made to understand that the business is more than sound and will be here for a long long time.

 

Completely different. eBay gets their inventory for free. Sellers assume the cost of stocking it, they also dont have manufacturing costs

As a side note General Foods is still around it merged into Kraft foods and was just a name change

 

Of course back when they OWNED Paypal they got all of it.

Right they aren't dummy headquarters they're real headquarters which allows them to get taxed at the lower corporate rate set by those companies and not the high US rate.

 

Of course, that is one of the few things they probably didnt have control over. One of their biggest investors wanted paypal split off knowing ebay was holding it back and got his way.

 

I'm sure there are legitimate reasons that some US companies set up HQs overseas, but I was referring to the loophole exploitation to which Conder is referring. They are "Real" HQs in a legal sense. But, in a lot of cases they amount to nothing more than and empty office and a PO Box. These are US based companies that operate in the US and set up HQs elsewhere in order to pay less in corporate taxes. And it all amounts to a LOT of money.

This is a problem, and everybody knows that it is a problem. But, instead of fixing these loopholes, they go after people putting their used stuff on Ebay. Not sure about you, but I see blatant indications of big money lobbyist influence in this rational. (Another thing that is a problem, that everybody knows is a problem, but that we seem unmotivated to fix for some reason)

 

What I find the most interesting, without trying to get too political, is that if an elected official or employee at the state level, (at least in Illinois after the crack down and new focus on ethics statewide,) is caught taking a bribe, no matter how small, you face JAIL TIME!! PRISON!! $1000? $200? You're getting fired and indicted here as it should be. It's the only way the system can work.

At the federal level, good ole boys club, we have lobbyists and politicians becoming multi-millionaires on low six figure salaries. Society would say, "that's not ok either" BUT there's no level of oversight beyond that SOOO they do as they please and that has become acceptable. The only recourse is to hopefully have a fair election system to vote them out. ( If we still have equally run/ fair elections across the entire country which I find highly doubtful as we already see what no oversight leads to. ) No term limits and endless lobbyists = dysfunctional government forever. Thinking a new election will solve anything is like performing a bodily function into the wind.

 

It's call corporatocracy. They are in the process of killing the little fishes. Taxes and regulations kill small business and start-up.

Maybe instead of voting for people to protect our feelings, we should have voted more for protection of our wallets. I don't see anyone looking out for Joe the Plumber and his stay at home wife that sells crafts on eBay. It's going to take a lot more than higher taxes to right this ship.

I was over the $600 limit by January 2, 2022. I started accounting for inflation a couple months ago by charging for shipping. All items I sold used to be free ship. Since Jan. 1, all best offers now have a lower percentage cap to pay taxes. Let's Go Landon!

 

Quite the contrary. Its the little fish that have always paid the bills. They could make far more money closing a few loopholes for the big fish but the big fish control the rule-makers so we are screwed.

 

They arent overall. Like I said several times the coin category acts very differently than the rest of ebay and is insignificant.

Well just because your friend base is leaving doesnt mean the world is. eBay isn't going anywhere. Again theres a difference between disliking polices (which pretty much every small seller should there) and just saying something will fail because you dont like it.

 

Do you always just say something will fail you dont like and hope after enough time it will become true?

 

Of course time will tell, but eBay is a huge marketplace for everything and anything. Nobody comes even close to being what they are.

 

But it is tax on profits earned on business conducted outside the physical boundaries of the US we are talking about.

 

FYI:
What percent of taxes are paid by the top 10%?
The top 10 percent of earners bore responsibility for over 71 percent of all income taxes paid and the top 25 percent paid 87 percent of all income taxes. Both of those figures represent an increased tax share compared to 2017.

 

Many have turned to selling on facebook. Last week I received an message from facebook that in 2022 they will be asking for social security numbers when people sell on facebook. Don't have all of the details.

 

Thats what you want to do. Give your SSN to the most intrusive entity out there.

 

So you apply for a Taxpayer Identification Number (TIN) and give them that not your SS#