eBay is Booting PayPal for Sellers Now? WTF?
- Thread starter WhiteHawk
- Start date
4Gas$
Club Member
I agree that is the ultimate goal, however, I also don't think it
could / would ever be 100%. Bartering has been around since
the beginning of time.
4Gas$
Club Member
This is not going to result in any sizeable increase in tax revenue from 1099ks for sales for the IRS. It is just going to be more reporting, but most sellers will claim a cost basis for their items they have sold. The IRS is not going to be out there auditing 1099ks under 20k.
The real thing they are trying to catch is 1099k income from gig jobs (uber, grubhub, airbnb, etc). These companies moved away from 1099misc ($600 threshold) and switched to issuing 1099ks (200/20k threshold). So you end up with a big chunk of unreported income and the bigger $$$$ unreported Self employment tax. If played right, someone could have 3 or 4 gig jobs netting 40k without any of it being reported and not paying taxes.
The real thing they are trying to catch is 1099k income from gig jobs (uber, grubhub, airbnb, etc). These companies moved away from 1099misc ($600 threshold) and switched to issuing 1099ks (200/20k threshold). So you end up with a big chunk of unreported income and the bigger $$$$ unreported Self employment tax. If played right, someone could have 3 or 4 gig jobs netting 40k without any of it being reported and not paying taxes.
wrath
Club Member
I think eBay is going the way of Craigslist. I think they're trying to be an alibaba but they missed the mark. Most of the huge companies I know that used to do a lot of business on eBay and I used to buy a lot from have moved off eBay. I assume its due to fees and an awful dispute process.
PayPal bought VenMo and BrainTree a while back. They both were a bit late on the purchase side.
I have been on eBay since 1997 and PayPal (when it was x.com and our favorite memestocker owned it) since 1998.
PayPal and eBay have systematically gotten better and worse with time. Right now they're both awful. Final values fees are outrageous, PayPal costs a fortune to use, and neither have any protections anymore. eBay turned the eBay Bucks program into a joke a couple executives ago so my purchasing from them has approached nothing, which is too bad, because I used to buy a lot via eBay. Probably $10k of crap a year. I don't think I'll get to $1000 this year.
The only place I use PayPal is with eBay and subscriptions on forums, and the only time I use PayPal I used it with my Discover and Chase cards which are quick to issue chargebacks with. PayPal's dispute process is awful and I have it linked to a bank account with no overdraft protection and no money in it. PayPal doesn't even have a fraudulent charge process for charging you for something that you didn't buy to a credit card that isn't linked to your PayPal account.
PayPal bought VenMo and BrainTree a while back. They both were a bit late on the purchase side.
I have been on eBay since 1997 and PayPal (when it was x.com and our favorite memestocker owned it) since 1998.
PayPal and eBay have systematically gotten better and worse with time. Right now they're both awful. Final values fees are outrageous, PayPal costs a fortune to use, and neither have any protections anymore. eBay turned the eBay Bucks program into a joke a couple executives ago so my purchasing from them has approached nothing, which is too bad, because I used to buy a lot via eBay. Probably $10k of crap a year. I don't think I'll get to $1000 this year.
The only place I use PayPal is with eBay and subscriptions on forums, and the only time I use PayPal I used it with my Discover and Chase cards which are quick to issue chargebacks with. PayPal's dispute process is awful and I have it linked to a bank account with no overdraft protection and no money in it. PayPal doesn't even have a fraudulent charge process for charging you for something that you didn't buy to a credit card that isn't linked to your PayPal account.