eBay & Paypal - Policies and Practices

[herbertwest]

What is that ebay bucks?

[ELazansky]

Every three months, EBay adds up your qualifying purchases. Then they you give a a credit to be used against a future purchase. If you buy a lot of expensive items on eBay, it does add up. I think last time (July-September) I earned 15 eBay bucks, and right now I am up to 12 for October-December.

[Mr. Rabbit Trick]

Every three months, EBay adds up your qualifying purchases. Then they you give a a credit to be used against a future purchase. If you buy a lot of expensive items on eBay, it does add up. I think last time (July-September) I earned 15 eBay bucks, and right now I am up to 12 for October-December.

In the UK we get ebay + points. Same thing really.

[e_taylor]

How does one sign up for this? Or is it only for the .com website?

[ELazansky]

I don't remember having to sign up for it - I only use the .com site, so I don;t know if it is done for the UK site - http://pages.ebay.com/rewards/faq.html#6

EDIT - looks like as of now (reading the FAQ), you do have to enroll in the program

[herbertwest]

I never heard about such things.
How do you know how many bucks/points you have? Is there a minimum of value for getting points?

@ELazansky : thanks for the link. Didnt see it before posting.

[ELazansky]

I think it is only open to US residents. Every time you buy something, it shows you how many eBay Bucks you earned. There is a page that shows you how much you've earned in the current 3-month period (which right now is October-December). Around the 2nd week of January, they send you a "certificate" telling you how much you earned. When you win your next auction, you can use those bucks to help pay for the item. It then starts over again for January-March.

[Patrick]

You have to register for these things? Damn. I wish I'd known about the program before I bought that SIX STORIES S/L recently on eBay.

[herbertwest]

There is no such things on the french ebay. Not that i spend thousands on ebay, but still...

Thanks to Mulleins, the ebay seller sent me an invoice... :-)

[herbertwest]

on ebay : i cannot leave a note to the seller regardings the cost of shipping, because he offers free shipping (in the USA).
I paid international shippings, but cannot evaluate it?

[Fsmdr]

Starting next year ( Jan 1st, 2011) Paypal will have to start reporting to the IRS. The selling limits will be 200 items or $20K before they report. This tax change was part of the ’08 stimulus.

200 items annually, is only 17 items per month. If you sell 2 Dark Tower sets on ebay in 2011, you will now have to pay taxes on them!.

[Patrick]

200 items annually, is only 17 items per year month.


Does this also mean that those sellers who charge me sales tax will actually start paying that sales tax rather than pocketing it? I know that is a State thing (sales tax) vs. a Federal thing (IRS income tax), but just wondering how the increased reporting might affect other taxation issues.

[Fsmdr]

My concern is not for the sellers that makes a living on Ebay, but more for collectors like us. What if one day I need to liquidate my collection?. Hopefully it will be a long way off, but it would certainly be something to think about.

Thanks for the correction, Patrick. Original post edited.

[Room 217 Caretaker]

I like taxes, taxes are good, taxes are my friend (hold on, taking another drink of Kool-Aid) I like taxes, taxes are good, taxes are my friend................

[Mr. Rabbit Trick]

I like taxes, taxes are good, taxes are my friend (hold on, taking another drink of Kool-Aid) I like taxes, taxes are good, taxes are my friend................

I wish I paid $5,000,000 a year in tax. And I'm not kidding.

[Randall Flagg]

If you paid 5 Mil in taxes, you probably netted >5 Mil.

[Mr. Rabbit Trick]

If you paid 5 Mil in taxes, you probably netted >5 Mil.

Exactly.

[Rahfa]

Well, that's certainly not an exciting policy change...but, one only needs to pay taxes on the profit...so even if you make $20K in sales, you wouldn't pay taxes on $20K...in fact, you can report a loss just as easily...I sold a bunch of Easton Press signed editions this year at a general break-even, slight loss...so even if they reported the transactions there'd be no significant loss or profit to report (not that it was even close to these new limits anyway).

But...it would still require us to have more documentation than we need to worry about now, and that's a pain. But, if I were a legit business watching some Paypal seller basically do the same thing I'm doing, but NOT having to report income, etc., I'd be pretty annoyed, so it's fair.

[Yeah Sure Whatever]

Starting next year ( Jan 1st, 2011) Paypal will have to start reporting to the IRS. The selling limits will be 200 items or $20K before they report. This tax change was part of the ’08 stimulus.

200 items annually, is only 17 items per month. If you sell 2 Dark Tower sets on ebay in 2011, you will now have to pay taxes on them!.

Do you have a link with more info?

200 items annually, is only 17 items per year month.


Does this also mean that those sellers who charge me sales tax will actually start paying that sales tax rather than pocketing it? I know that is a State thing (sales tax) vs. a Federal thing (IRS income tax), but just wondering how the increased reporting might affect other taxation issues.

So I need to start charging tax for my etsy shop? I'm confused do I only have to report my earning if I charge tax?

[Fsmdr]

Starting next year ( Jan 1st, 2011) Paypal will have to start reporting to the IRS. The selling limits will be 200 items or $20K before they report. This tax change was part of the ’08 stimulus.

200 items annually, is only 17 items per month. If you sell 2 Dark Tower sets on ebay in 2011, you will now have to pay taxes on them!.

Do you have a link with more info?

http://money.cnn.com/2010/05/21/smal...luge/index.htm

[Yeah Sure Whatever]

Thanks!

[Yeah Sure Whatever]

Looks like I'll need to do a lot more business for this to pertain to me:

The rule comes with a floor to weed out the most casual retailers: The 1099-K is only required when a merchant has at least 200 payment transactions a year totaling more than $20,000. But it applies to all payment processors, including Paypal, Amazon.com, and others that service very small businesses.

[Dolso]

So........I need some advice from a few of you ebayers. I don't sell very much at all on ebay but currently have a listing up with a reserve price. My understanding of Reserve is so you can start bidding at a lower price than normal but ensure you don't sell below what you want to get. Now I'm getting a question asking how much the reserve is set at. If I answer that, isn't it sort of negating the purpose of the reserve to begin with? How would you answer? Is this a typical request?

Thanks in advance.......................Dick

[Randall Flagg]

I wouldn't disclose the reserve-otherwise why have one?

[ELazansky]

I agree - don't disclose the reserve.