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Post by jazzguy on Apr 26, 2021 17:55:21 GMT -5
interestingly on another forum I frequent people seem to love ebay because of the buyer protection but they despise reverb for the lack of it and the poor communication from the company.
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Ebay rant
Apr 26, 2021 18:37:22 GMT -5
via mobile
Post by Mfitz804 on Apr 26, 2021 18:37:22 GMT -5
To be clear, I have not used Reverb. My positive opinions about eBay are based only on my eBay experience.
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Post by LTB on Apr 26, 2021 21:11:35 GMT -5
Maybe for some folks, it's not about getting the item, it's about winning the bidding? As with people who buy stuff they don't need or want and then rent a shed to store it in. It's the purchase that gets them off, rather than having the item. There are people like that. They have to be complete morons though
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Post by ninworks on Apr 26, 2021 21:17:19 GMT -5
I sell on eBay a lot. A LOT. I almost never have that problem, probably 10 times total. All part of the process. That’ll be coming to an end, however, as starting next year, $600 or more and you get a 1099. If I sell old things I have around my house, there shouldn’t be tax consequences. EDIT: That’s for all online selling platforms that process payments via credit card or other electronic means. That's ridiculous. We paid taxes on the money we used to buy the item in the first place, then we paid sales tax for the privilege of buying it, now they want to tax it again. That's horse doody. Sounds like it's time for another Tea Party.
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Ebay rant
Apr 26, 2021 21:36:24 GMT -5
via mobile
Post by Mfitz804 on Apr 26, 2021 21:36:24 GMT -5
I sell on eBay a lot. A LOT. I almost never have that problem, probably 10 times total. All part of the process. That’ll be coming to an end, however, as starting next year, $600 or more and you get a 1099. If I sell old things I have around my house, there shouldn’t be tax consequences. EDIT: That’s for all online selling platforms that process payments via credit card or other electronic means. That's ridiculous. We paid taxes on the money we used to buy the item in the first place, then we paid sales tax for the privilege of buying it, now they want to tax it again. That's horse doody. Sounds like it's time for another Tea Party. I guess too many people were making too much money running online small businesses and not giving the government their share. To be clear, this isn’t a new tax, it’s just a new reporting requirement. Doesn’t make sense to me, because the guy selling off Knick knacks from his basement that he no longer needs is viewed the same way as someone running a for-profit business.
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Ebay rant
May 16, 2021 8:37:27 GMT -5
via mobile
Post by insanecooker on May 16, 2021 8:37:27 GMT -5
So, after a few years of not selling on ebay, I started three auctions that wrapped up yesterday. The tally so far: - one buyer already paid this morning - one asked to cancel it 1 hour after it wrapped, which doesn’t even attract negative feedback anymore. Basically he wasted 10 days of my time - one hasn’t done anything yet
Based on the above I’m very reluctant to do other auctions as it seems people can just choose to be deadbeat bidders these days with no consequence
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Ebay rant
May 16, 2021 9:38:25 GMT -5
via mobile
Post by Mfitz804 on May 16, 2021 9:38:25 GMT -5
That about sums it up.
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Post by ninworks on May 16, 2021 10:29:40 GMT -5
I relisted and sold the mixer the original deadbeat didn't pay for. He got a ding on his account for not paying but that doesn't really mean anything. He's still an account holder. Something like that should be a reason for them cancel your account. He never had any intention of paying for it. He was surprised he won the auction. In order to give any kind of negative feedback you have to be a buyer. Sellers can't leave negative feedback and that's not right.
I have had pretty good luck with buyers overall. Almost all of them make payment within a day but there are some who need a thump on the head with a 2X4 to wake them up.
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Post by Mfitz804 on May 16, 2021 10:31:27 GMT -5
All part of the process, it doesn’t always go well. Usually it does. Sometimes it depends what you are selling. There is a higher incidence of non-payers in musical gear, in my experience.
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Post by ninworks on May 16, 2021 10:53:29 GMT -5
I believe the term "Flake" was originally coined to describe a musician somewhere a long time ago. I have met so many in my years I can't believe the general population has that many in its ranks.
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Ebay rant
May 16, 2021 11:03:58 GMT -5
via mobile
Post by Mfitz804 on May 16, 2021 11:03:58 GMT -5
I believe the term "Flake" was originally coined to describe a musician somewhere a long time ago. I have met so many in my years I can't believe the general population has that many in its ranks. Bingo.
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Ebay rant
May 16, 2021 13:07:42 GMT -5
via mobile
Post by LTB on May 16, 2021 13:07:42 GMT -5
That's ridiculous. We paid taxes on the money we used to buy the item in the first place, then we paid sales tax for the privilege of buying it, now they want to tax it again. That's horse doody. Sounds like it's time for another Tea Party. I guess too many people were making too much money running online small businesses and not giving the government their share. To be clear, this isn’t a new tax, it’s just a new reporting requirement. Doesn’t make sense to me, because the guy selling off Knick knacks from his basement that he no longer needs is viewed the same way as someone running a for-profit business. In light of this I guess there will be a lot more items for sell costing less than $600
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Ebay rant
May 16, 2021 13:38:07 GMT -5
via mobile
LTB likes this
Post by Mfitz804 on May 16, 2021 13:38:07 GMT -5
I guess too many people were making too much money running online small businesses and not giving the government their share. To be clear, this isn’t a new tax, it’s just a new reporting requirement. Doesn’t make sense to me, because the guy selling off Knick knacks from his basement that he no longer needs is viewed the same way as someone running a for-profit business. In light of this I guess there will be a lot more items for sell costing less than $600 It’s $600 aggregate for the year, not per transaction. It’s going to kill their business.
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Post by guildx700 on May 16, 2021 15:40:41 GMT -5
As a buyer, I have this rant against sellers: I have never had a seller answer a question about an item prior to buying it. Sometimes the listing is vague, sometimes I have specific questions, whatever. But whenever I contact them, I never hear back. Why don't sellers ever answer questions about their listings? I always answer all questions within 4 hours of them being asked. And my feedback reflects that. Buyers always post "great communication from seller" in their feedback. I also put up auctions that always have 12 very highly detailed pics of the item (e-bay max for pics), a highly detailed description of the item, and a highly detailed disclaimer for my no return policy. I've sold about $15k of guitars in the last 6 months, all auctions sold the first time and for top dollar, everyone has paid on time, in fact most have paid within minutes of the auction's end. Last week someone paid literally within seconds after the auction ended. Funny thing with that sale, when I went to ship the guitar turns out I knew the guy from high school 40 some years ago. In the 22 years I've been on ebay I've only had a handful of bad buyers, (and a few bum purchases on my end) but the bulk have been good transactions.
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leftrightout
Wholenote
Sometimes I pretend to be normal and then it becomes boring..............
Posts: 206
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Post by leftrightout on May 16, 2021 17:36:29 GMT -5
I've just had a seller reply to me after i paid that my item (a golf club) is no longer available, and a refund is in the process even though they posted up shipping info and gave me positive feedback, now it has been 4 days since i paid and 3 since the message i wonder how long this refund saga will draw out for
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Post by K4 on May 16, 2021 19:54:18 GMT -5
It’s $600 aggregate for the year, not per transaction. It’s going to kill their business. This This is wrong. So If I sell a 1000 dollar piece of gear I'm going to be taxed? I paid tax on the money I bought it with, then paid a tax when I bought it, now I will have to pay another tax when I sell, even if I lose money? First I've heard of this. Off to search
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Post by K4 on May 16, 2021 20:08:26 GMT -5
Part of the Covid bill. I will sell off all my junk this year.
I wonder if this will affect forum classifieds and consignment shops?
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Post by ninworks on May 16, 2021 21:16:08 GMT -5
Another reason I sold everything this year.
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Post by guildx700 on May 16, 2021 21:28:33 GMT -5
It’s $600 aggregate for the year, not per transaction. It’s going to kill their business. This This is wrong. So If I sell a 1000 dollar piece of gear I'm going to be taxed? I paid tax on the money I bought it with, then paid a tax when I bought it, now I will have to pay another tax when I sell, even if I lose money? First I've heard of this. Off to search Kinda sounds like the buy a new car pay sales tax, sell it uses....pay sales tax.
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Post by K4 on May 16, 2021 21:36:14 GMT -5
Kinda sounds like the buy a new car pay sales tax, sell it uses....pay sales tax. In KY the buyer pays sales tax, not the seller. As the seller I'm not charged income tax. I suppose it will be a windfall for tax accountants. "Now what did I do with the receipt for the cabbage patch doll in the closet"?
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Post by guildx700 on May 16, 2021 21:39:03 GMT -5
Just within the last 30 minutes I had an auction for a bass guitar finish, buyer paid within 30 seconds of auction closing!
Gonna ship it tomorrow.
It shot up the last 5 seconds about $400 hundred dollars.
Almost all my auctions have done that the last 8 months, they get some decent bids, (no reserve) then they stall for a few days, and then the last 10 seconds or so they takes off like a rocket.
Listing another guitar right now. I'm batting 100% sell rate for my auctions for several months now. Best I've ever did.
Requested a sell limit increase to eBay, they bumped me from $7,000 to $14,000 monthly sell limit. Cool.
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Ebay rant
May 16, 2021 22:03:02 GMT -5
via mobile
Post by Mfitz804 on May 16, 2021 22:03:02 GMT -5
Part of the Covid bill. I will sell off all my junk this year.
I wonder if this will affect forum classifieds and consignment shops?
Only the reporting requirements have changed, it did not make transactions that were not taxable become taxable. I have no idea about what online sales would or would not be taxable, I’m not an accountant. It will apply to our Classifieds if you accept PayPal; $600 in PayPal transactions, you are getting a 1099. Anyone who processes $600 or more on electronic payments will be subject to that reporting requirement. The end result will be, just $600 in sales and I’m done with eBay for the year.
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Ebay rant
May 17, 2021 6:14:37 GMT -5
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Post by K4 on May 17, 2021 6:14:37 GMT -5
Are they treating it as income or capital gains?
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Ebay rant
May 17, 2021 8:28:23 GMT -5
via mobile
Post by Mfitz804 on May 17, 2021 8:28:23 GMT -5
Are they treating it as income or capital gains? All eBay (or PayPal, or whomever) are responsible for doing is reporting how much they process on your behalf. How it is treated tax-wise, and whether it’s taxable at all, is between you, your accountant, and the IRS.
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Post by Leftee on May 17, 2021 8:40:03 GMT -5
Are they treating it as income or capital gains? All eBay (or PayPal, or whomever) are responsible for doing is reporting how much they process on your behalf. How it is treated tax-wise, and whether it’s taxable at all, is between you, your accountant, and the IRS. I haven't asked our accountant, but I assume that my business will show either income or loss, and that will ultimately determine my tax liability. 🤔
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Ebay rant
May 17, 2021 8:48:15 GMT -5
via mobile
Post by Mfitz804 on May 17, 2021 8:48:15 GMT -5
All eBay (or PayPal, or whomever) are responsible for doing is reporting how much they process on your behalf. How it is treated tax-wise, and whether it’s taxable at all, is between you, your accountant, and the IRS. I haven't asked our accountant, but I assume that my business will show either income or loss, and that will ultimately determine my tax liability. 🤔 Correct. I have had quite a bit of success selling on eBay, and now I am faced with the option of becoming a “business” or just saying forget about it. I’m mostly leaning toward the latter, or just using multiple platforms (eBay, Poshmark, etc) and staying below the $600 threshold on each.
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Post by Leftee on May 17, 2021 9:09:41 GMT -5
I'll sort out my decision about staying in business at the end of this year. The Magic 8-Ball says the future is unclear.
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