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eBay charges fees now if you decide to end your auction early
With the IRS getting their foot in the door this year, it won't be long before all ebay sellers will be required to register as a legal business and collect and pay sales tax. Truthfully it probably should have been required from the start. There are many ebay sellers that far exceed the sales of some brick and mortar stores. There is already talk about online sites being required to collect sales tax based on the state the buyer resides in. Had the IRS had the foresight to see where online purchasing was going it would have been established from the get go. Now the problem is how to get all these current members to come under the umbrella without putting ebay under, which I'm sure would be a legal issue. If you want to feel better about ebay/paypal's fees, open a brick and mortar store. Once you see the fees involved with that you'll never complain about them again. My ebay and paypal fees have never been as high as my rent was for my store. Not to mention I don't have to be there all day.
There's a thresh hold for taxes right now. I believe it automatically gets reported once you sell $10,000 or 300 items and it's linked directly to your paypal account so you can't hide from it either. The ten grand I get but 300 items seems harsh. It would scare me away from selling anything under $15 or $20. Tax free internet days are coming to an end. Amazon is gearing up to tax everything they sell. Pretty soon all the other regular internet stores will charge a national tax too. Uncle Sam wants his slice of the pie now.
"Many Shubs and Zuuls knew what it was to be roasted in the depths of the Sloar that day I can tell you."
There's a thresh hold for taxes right now. I believe it automatically gets reported once you sell $10,000 or 300 items and it's linked directly to your paypal account so you can't hide from it either. The ten grand I get but 300 items seems harsh. It would scare me away from selling anything under $15 or $20.
You have to meet both requirements. Once their in the door that number will be easily changed until they get pretty much anyone that does any form of regular selling. Our city just took out an ad in the local paper stating as of Jan 1 2013, anyone holding an unlicensed yard sale will be fined. It's gotten so out of hand that some people are having yard sales 5 days a week here.
I used to "know" (would definitely not call him a friend) someone who used eBay to establish the value of his goods. He would post auctions and end them moments before they finished, regardless of how many bidders there were. I always thought it was a crappy thing to do, and nowhere near the spirit of the site. Of course, this was in its early days.
I think it sucks if they charge you if there are no bidders. But I am not sure I have issue with it if the auction has bids, for the above reasons. However, I do agree their fees have gotten out of control.
There's a thresh hold for taxes right now. I believe it automatically gets reported once you sell $10,000 or 300 items and it's linked directly to your paypal account so you can't hide from it either. The ten grand I get but 300 items seems harsh. It would scare me away from selling anything under $15 or $20. Tax free internet days are coming to an end. Amazon is gearing up to tax everything they sell. Pretty soon all the other regular internet stores will charge a national tax too. Uncle Sam wants his slice of the pie now.
Amazon is already charging sales tax to PA.
Paypal told me it was 200 items and $20,000 when it gets reported. At least that was last year.
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