What a racket eBay is

[nomadh]

Any sales we make on FleaBay/Reverb Payments the funds are in our Bank in 48-72 Hours.

If they use Paypal on FleaBay/Reverb then it is the same or INSTANT if we select that option for ANOTHER 1% fee...we never do that.

By Federal Law, any Sales Tax Collected is to be kept in NON INTEREST BEARING ACCOUNTS and transmitted to the States at the end of each month.

Sales Tax is NOT included in the Fees Charged. FleaBay DID act on sellers dumping Items, for example, for $1.99 and charging 19.99 for shipping thereby trying to reduce their Seller Fees. Their Fees INCLUDE BOTH now. That said, to compensate, their Shipping is HEAVILY Discounted over the price you pay at the Shipping Company counters. Yeah I know...FleaBay and Reverb actually doing the right thing. WHO KNEW?

In tax year 2022, the threshold for reportable income will drop significantly to $600, with no transaction minimum. You can thank the "Previous Administration" for that.

How do I know all this? We sell our products STRICTLY direct to the Customer over "The Internets". We report ALL Income received thru our Business. Yeah we'll get a 1099 at year end so I stay laser focused on DEDUCTIBLE BUSINESS EXPENSES to write off as much as possible.

Finally...

What Partscaster said.

I assure you that they are charging final value fees of 6% on sales tax remitted upon the sellers behalf.

I did the calculation just to check.

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Also, hobbyists are not allowed to deduct expenses so that doesn't help Joe Blow who sells a few guitars which due to inflation/devaluation of the dollar vs. when that purchase was made will now have to likely pay at their income tax rate.

If I bought something in 2020 for example, it is now devalued by 15% due to inflation. If I sell something for more than I paid but less than the 15% difference. I should not get taxed at my income tax rate on that amount, but I will. image.png

Ohh, inflation deduction? I love it! They cause it. It's a cost of biz. If not allowed just 1 more proof it's all a scam and theft.

[nomadh]

Fill positions? Right. If an employee retires then that budget money is still there to fund the new employee. That's not an oops. That is a lie.
It comes down to either they are stupid or they think we are stupid. Are we going to continue to be stupid?

[nomadh]

Who is more likely to be audited, someone with a smart money manager or someone who doesn't understand the tax laws because they have HR Block do their taxes...

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Rich people fight back and cost money. This one more nail in the middle class.