| Author | Message | ||
     Mmmi_grad |
You can do a search and find out the IRS and the idiots in gov want us to tell the IRS if wwe made a few bucks on selling a part or something on ebay. In 2011 paypal will be sending out 1099's to those who sold 10-20k and had 200 transactions. All of this why legislation is being pushed to control and TAX the shit out of you 100 dollar profit on a bike part. If you got the connects and power better hurry up and say HELL NO !!  | ||
| Sifo |
Good grief! Next these same folks are going have to do an accounting of their carbon impact too. | ||
| Froggy |
I wish I made $20k selling crap on ebay. | ||
| Oddball |
Have to put fart meters on people. | ||
| Ft_bstrd |
I think this story is bogus. I don't think there is a mechanism for eBay to issue 1099s. | ||
| Johnnymceldoo |
Dont be greedy. Everyone needs to pitch in to help others who dont want or cant help themselves. It wont hurt to give a little more. Besides that there will probably be some new government job programs opening up to help combat this bad economy. That money has to come from somewhere. A value added tax would also be a big help. The Europeans have been doing this for while now and it has done great things for the people and the economy over there. | ||
| Ft_bstrd |
Greedy? WTF? | ||
| Aesquire |
A value added tax would also be a big help. I don't agree. How much will a bag of Frito's cost? VAT taxes are really inflationary. You do realize that VAT makes everyone, rich or poor, pay tax on everything? I'm a bike nut enough to not flinch too much at, say, Pirelli Diablo Roha's already high price, add $50-100 to that? I'm certainly not rich. (unless it's been redefined again to include everyone who works for a living & pays taxes. ) The poor will be hardest hit by a VAT. Why don't we tax political donations? They spent over a Billion dollars on ONE sides prez. run in 2008, that's an enormous untapped resource. ( don't expect a Congress that has a full time job getting people to bribe them to agree. ) And, in answer to the threads title question.... Yes, because I don't like prison. (Message edited by aesquire on February 25, 2010) | ||
| Johnnymceldoo |
Come on guys lets spread the wealth. | ||
| Ft_bstrd |
Sorry. Spit the bait. | ||
| Aesquire |
Ok, I'll take some wealth. Where's my check? | ||
| Ft_bstrd |
I prefer to spread it between my butt cheeks. | ||
| Phelan |
I can do a better job of helping individuals with my tax dollars than the Govt can, IMHO, but I still pay taxes. It's rediculous though when they nickel and dime our dollars until we have less than 2 quarters left. | ||
| Badlionsfan |
Aesquire Posted on Thursday, February 25, 2010 - 09:32 pm: Ok, I'll take some wealth. Where's my check? your employer/ future employer has it for you. | ||
| Macdiver |
I don't have a problem with this. If you have a brick and mortar store you have to pay taxes on your income. It is only fair that internet business have to pay taxes as well. This might allow local businesses to be competitive with web businesses. Anyone doing 20k on ebay is a business and not someone cleaning out their garage. | ||
| Court |
Worse yet if you accidentally start an internet show company in a Brooklyn warehouse with a truck load of surplus HD boots and suddenly find yourself doing $200,000 a week in shoe sales . . . . . The 1099 is okay as long as no one asks what happens with the 300 returns and exchanges that come in weekly. | ||
| Buellerandy |
Lol, makes me wonder since they're going to try and tax paypal and other future profits to be had on the internet, I wonder if the guy who actually invented the internet will be taxed as well:P | ||
| Court |
I'm fine with them taxing me . . . as long as they are fine with me deducting my computers, peripherals, the cameras I take the photos with and my home office space.  | ||
| Pwnzor |
MORE taxes? Don't get me started. We pay income tax. Sales tax. Property tax. <---- HOLY HELL, I already own something and I continually pay taxes on it every year!!! $8500 per year on a $650,000 house. For that money, if my sewer line bursts I expect Uncle Sam to come and fix it... but that won't happen. F%*& TAXES and F*%& the government.  | ||
| Jramsey |
Pwnzor, you forgot local city sales tax, alcohol tax and tobacco tax. | ||
| Ratyson |
Hell, I got taxed on the money I got back in my state return last year... Are you friggen kidding me!! That was tax collected in excess last year, but they consider it taxable income since it was returned to me... IT WAS TAXES TO BEGIN WITH YOU MORONS! www.fairtax.org it is time. | ||
| Swordsman |
Amen Ratyson. Fairtax all the way. That taxing of tax returns has to be the most obvious scam ever. Any legislator that signed off on it should take a fire poker in the ass. ~SM | ||
| Mikef5000 |
I don't understand. If you sell more than $10,000 worth of stuff through paypal, in my eyes, you ARE a business, and you SHOULD be paying taxes. Did you guys miss that whole $10,000 part? This isn't the government taxing you for selling your slightly used XBr touring seat for $350. This is the government saying, if you sell $10,000 worth of crap online, you should pay taxes just like the guy who sells $10,000 worth of crap out of a store. I don't agree with most of what the government does, and I certainly don't like taxes... but this one, kind of, makes sense. | ||
| Froggy |
https://www.thepaypalblog.com/2008/08/proposed-irs -reporting-requirements-become-law/ Looks legit, but unless you are receiving over 200 payments a year AND are totaling over $20k in that year, you got nothing to worry about. | ||
| Sifo |
I'm unclear how this would work. If the 1099 doesn't have the amount that you paid for the items you've sold the IRS considers it all profit to you. So you find a deal on a used Buell seat for $50 and resell it on Ebay for $100 and the IRS taxes you on the $100 amount as your profit? | ||
| Pwnzor |
They grab your money from one side with this hand, then they reach around the other side and grab with the other hand.... The trick is to see how much you can bite from the middle with NO HANDS because THEY (THEM, THE GUBMENT) have your hands TIED BEHIND YOUR BACK... THEY will "F" you in the "A" every time without so much courtesy as to give you a reach-around! THEY don't want a portion, THEY want it ALL.  | ||
| Blake |
1099 reports receipts of revenue, not "profit". It's up to the taxpayer to deduct business expenses via tax return. Welcome to my hell. | ||
| Xb9er |
We became our own country because of tax. I smell a revolutionary war against America and ebay! Okay thats a little extreme. I'm going to buy Buell swag on ebay now.  | ||
| Court |
>>>>1099 reports receipts of revenue, not "profit". It's up to the taxpayer to deduct business expenses via tax return. Welcome to my hell. And the "cost of goods sold" . . . . . I've discovered that MOST of what I sell on e-Bay (I'm getting ready to sell a bunch of "new-still in the wrapper Buell stuff) sells for much less than cost. Example: I am going to sell a bunch of manuals. They list for something like $50 and I'm going to sell them for $35 each. I'll be taking the loss when I prepare the tax schedule for my business. I set everything up as a business to make sure that all my camera equipment, motorcycle travel and activities are properly offset against income. If the feds want to play that way . . . I'm willing to go straight by the book. | ||
| Bcordb3 |
pwnzor, A screen name I hadn't seen in long time, sill in the OC? |
