Bad Paypal 1099

[Crag the Brewer]

Prior to my accounts being merged I had a feedback score of 120+, probably 70 to 80 percent of that was conducted using a USPS M/O whether buying or selling. I have no problem going back to that... hell I might even consider a Walmart Vanilla Card now ... piss on the IRS and more taxes.

What do you mean about "wallmart vanilla card"?

This is going to be the most prominent link people see...
It's going to be VERY popular coming soon.
We need all the information we can get, as to what's the best way to buy/sell.


Me personally, I ONLY signed up for paypal a couple years ago, to make buying knives easier Here on Bladeforums. Otherwise I wouldn't....


If something is better, and less invasive, I'm all about it.


Thanks!

 

[Boru13]

What do you mean about "wallmart vanilla card"?

It's a pre-paid non reloadable credit card that Walmart sells, I've used these numerous times when I'm not comfortable using of my actual credit cards online.

 

[Crag the Brewer]

It's a pre-paid non reloadable credit card that Walmart sells, I've used these numerous times when I'm not comfortable using of my actual credit cards online.

So......... We would mail That to a seller?

Assuming they agreed upon it

 

[Boru13]

So......... We would mail That to a seller?

Assuming they agreed upon it

As long as the card is still sealed up in the package, I see no problem with it. You have to call and activate the card for online purchases and are able to assign a pin number... just another option in my opinion.

Again, piss on the IRS and additional taxes... they get enough of my money the way it is.

 

[Crag the Brewer]

As long as the card is still sealed up in the package, I see no problem with it. You have to call and activate the card for online purchases and are able to assign a pin number... just another option in my opinion.

Again, piss on the IRS and additional taxes... they get enough of my money the way it is.

Because I'm stupid, and just trying to learn....or help others who will soon be here....how is this better than mailing a check?

I guess I need to understand the difference,

Options:

*Paypal/other app: used to be fast and convenient, getting less so/intrusive.

*Personal check:

*Money order:

*Gift card

 

[skyhorse]

Prior to my accounts being merged I had a feedback score of 120+, probably 70 to 80 percent of that was conducted using a USPS M/O whether buying or selling. I have no problem going back to that... hell I might even consider a Walmart Vanilla Card now ... piss on the IRS and more taxes.

Lol, I'm right there with you.Now that I finally retired my tax filing is pretty cut and dry , I'd hate if it got gummed up over selling a some knives I've accumulated . It seems to avoid this using USPS money orders and not depositing hobby money in a bank account is the best way going forward. How acceptable to most folks here , I dunno ?

 

[Boru13]

So......... We would mail That to a seller?

Assuming they agreed upon it

Yes

 

[Boru13]

How acceptable to most folks here , I dunno ?

If they want to buy what I'm selling, not much choice in the matter.

It's not like I'm selling to make money, I'll be damned if I'm going to pay more.

 

[Crag the Brewer]

Link to a good article for what a Money Order is.....
For the younger ones.

What Is A Money Order And How Does It Work?

The humble money order may seem quaint in a world full of digital payment options. With the ability to send and receive money via an app or pay with a mobile wallet or contactless credit card, when would you ever need to use a money order? Money orders may no longer be a common form of payment, b

www.forbes.com

I think next year, going forward, this is a good option.

 

[Peter Hartwig]

Link to a good article for what a Money Order is.....
For the younger ones.

What Is A Money Order And How Does It Work?

The humble money order may seem quaint in a world full of digital payment options. With the ability to send and receive money via an app or pay with a mobile wallet or contactless credit card, when would you ever need to use a money order? Money orders may no longer be a common form of payment, b

www.forbes.com

I think next year, going forward, this is a good option.

USPS money orders are the best. They have many security features in them that are hard to duplicate
and though it runs up the cost, I usually send them priority with tracking, in case USPS sends them astray.

 

[stonesell]

If payment is by USPS money order, I need to get it sent with tracking, so that I know the buyer is serious and that our deal is on track. Some buyers may be put off by this requirement, as I found out when one person stopped responding, but I don’t want to be in a position waiting for a payment that may never show up.

 

[Quiet]

After doing some further reading, most of the articles I'm seeing talk about SALES being reported as income to the IRS. Paypal F&F or Zelle/Venmo money being sent to friends, or people you designate as friends, technically would not be reported, although I'm not sure how that would work on Venmo and Zelle. You'd probably have to post a message like "Hey man, thanks for letting me borrow that cash!".

Is it skirting regulation? Sure is. Is it cool what the Administration is trying to do, tracking people to this degree? HELL no.

 

[skyhorse]

After doing some further reading, most of the articles I'm seeing talk about SALES being reported as income to the IRS. Paypal F&F or Zelle/Venmo money being sent to friends, or people you designate as friends, technically would not be reported, although I'm not sure how that would work on Venmo and Zelle. You'd probably have to post a message like "Hey man, thanks for letting me borrow that cash!".

Is it skirting regulation? Sure is. Is it cool what the Administration is trying to do, tracking people to this degree? HELL no.

When you get right down to the nut cuttin any funds going into a bank account not matching tax documentation will set off bells and lights at years end.

 

[r8shell]

As long as the card is still sealed up in the package, I see no problem with it. You have to call and activate the card for online purchases and are able to assign a pin number... just another option in my opinion.

Again, piss on the IRS and additional taxes... they get enough of my money the way it is.

Is this the same as a Visa gift card? I think they sell them at the local grocery store.

 

[benchwarmer380]

After doing some further reading, most of the articles I'm seeing talk about SALES being reported as income to the IRS. Paypal F&F or Zelle/Venmo money being sent to friends, or people you designate as friends, technically would not be reported, although I'm not sure how that would work on Venmo and Zelle. You'd probably have to post a message like "Hey man, thanks for letting me borrow that cash!".

Is it skirting regulation? Sure is. Is it cool what the Administration is trying to do, tracking people to this degree? HELL no.

One step at a time.

They'll be next.

 

[Boru13]

Is this the same as a Visa gift card? I think they sell them at the local grocery store.

Honestly I don't know, never bought a Visa gift card, I would assume they are.

I've used the Vanilla cards for gifts etc., we recently wanted to try HBO Max and I used one for that... I'm not putting my Credit Card info online to watch a movie.

You can load up to $500 on one, there's a activation fee of roughly $5 that you pay when you checkout... they are non reloadable which I like.

Walmart did change the name from "Vanilla" card to "SecureSpend" recently.

 

[Heirphoto]

It seems strange that this seems to only apply to PP. I am not hearing mention of sales through any of the other digital methods being affected
I am guessing they are just behind the curve, and it will be coming down the line

It is supposed to apply to all third party payment processors so will probably find out more closer to when it goes into effect

 

[Heirphoto]

Remember though, if this your "business", even as a sideline you are now self employed and will have to file and pay self employment tax ( social security). I know I have to on my home sideline business

 

[Quiet]

Remember though, if this your "business", even as a sideline you are now self employed and will have to file and pay self employment tax ( social security). I know I have to on my home sideline business

This is really the issue at hand. The Government has for some reason decided that now, any time you want to sell something, that's conducting a sideline business. It's essentially a redefinition of what that means, in order to take more money from people.

 

[r8shell]

This is really the issue at hand. The Government has for some reason decided that now, any time you want to sell something, that's conducting a sideline business. It's essentially a redefinition of what that means, in order to take more money from people.

They are due a cut every time money changes hands, although no one was expected to report the pennies they made at a yard sale or lemonade stand.

Not to go off on a tangent, but I boycott stores and restaurants that refuse to accept cash for payment. The powers that be would love to eliminate cash money, and have no more untracked exchanges.

So many people I talk to these days say, "I never use cash any more." but I'm not gonna hand my credit card to some bandy-legged carny selling snow cones on the side of the road because I can't find $1.25 in pocket change.