Not OP, but It's 4.5% now & when using G&S, PayPal will send u a 1099 at the end of the year so I'd assume he's accounting for the tax liability of the sale along with the traditional fees.
No, very valid question that im surprised i dont get more often. I get taxed on GS at end of year, additional offsets a portion of that. No problem backing it out.
No, very valid question that im surprised i dont get more often. I get taxed on GS at end of year, additional offsets a portion of that. No problem backing it out.
I realize a sales thread is not really the place but this has been discussed ad nauseam on the forum and still seems to confuse many. You are only taxed on your profits (assuming you have a record of your original purchase price), not the total sale price. I’m hoping perhaps your liability isn’t quite as bad as you’re thinking? Not trying to gunk up the thread but hoped it may be helpful!
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