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what you should know about ebay/paypal if you don't.
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<p>[QUOTE="bryantallard, post: 3030170, member: 26727"]I guess this would be more for new sellers or people who are considering selling but can be beneficial to all.</p><p><br /></p><p>let's look in depth at what is REALLY going on. I tend to over analyze things and this is what I see. you sell say a baseball card for $150 dollars. you pay 10% fee ($15)...whatever. BUT...if you sell a $100 dollar bill your profit margin is really on $50 but you STILL pay $15. $10 more than you should have to. then they take 10% of shipping. then you have paypal fees. now what I learned for the first time this year is that paypal is now reporting sales to the IRS because I got a tax form from them of my reported sales. (which is fine) however, if you sell a $100 dollar bill for the $150 then they will report a $150 sale to the IRS. only issue being...is that on $100 of that you already paid your taxes on. so again the only taxable income really should be that profit margin of $50. so really sellers are getting it good.[/QUOTE]</p><p><br /></p>
[QUOTE="bryantallard, post: 3030170, member: 26727"]I guess this would be more for new sellers or people who are considering selling but can be beneficial to all. let's look in depth at what is REALLY going on. I tend to over analyze things and this is what I see. you sell say a baseball card for $150 dollars. you pay 10% fee ($15)...whatever. BUT...if you sell a $100 dollar bill your profit margin is really on $50 but you STILL pay $15. $10 more than you should have to. then they take 10% of shipping. then you have paypal fees. now what I learned for the first time this year is that paypal is now reporting sales to the IRS because I got a tax form from them of my reported sales. (which is fine) however, if you sell a $100 dollar bill for the $150 then they will report a $150 sale to the IRS. only issue being...is that on $100 of that you already paid your taxes on. so again the only taxable income really should be that profit margin of $50. so really sellers are getting it good.[/QUOTE]
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