• Hi, I am the owner and main administrator of Styleforum. If you find the forum useful and fun, please help support it by buying through the posted links on the forum. Our main, very popular sales thread, where the latest and best sales are listed, are posted HERE

    Purchases made through some of our links earns a commission for the forum and allows us to do the work of maintaining and improving it. Finally, thanks for being a part of this community. We realize that there are many choices today on the internet, and we have all of you to thank for making Styleforum the foremost destination for discussions of menswear.
  • This site contains affiliate links for which Styleforum may be compensated.
  • No Man Walks Alone one of our oldest sponsors owned and operated by one of the most discerning buyers I know, is right now offering up to 50% off on their winter sale. Browse their extensive selection of mesnwear, shoes and accessories, and get something truly special, like this special collaboration Western style shirt by G. Inglese in a rich, thick, and luxe brown cotton moleskin, with subtly contasting yellow snaps

  • STYLE. COMMUNITY. GREAT CLOTHING.

    Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

    Click Here to join Styleforum's thousands of style enthusiasts today!

    Styleforum is supported in part by commission earning affiliate links sitewide. Please support us by using them. You may learn more here.

New tax law for B/S and eBay sellers....

Nataku

Distinguished Member
Joined
Nov 10, 2006
Messages
9,891
Reaction score
28,494
Just saw this pop up on my Paypal account today. I know it was only a matter of time until the government tried to get their hands in the pot. With the over $20,000 gross sales thing, it won't affect the small/middle time sellers, but I know there are some big-time sellers on here who make that much who will be affected. https://cms.paypal.com/us/cgi-bin/ma...ng_us/IRS6050W " Starting in 2011, all U.S. payment providers including PayPal will be required by the IRS to report sales information about certain merchants to the IRS. We want to help you understand these changes. * Applies to merchants receiving over $20,000 in gross sales volume AND 200 payments or more * Applies only for sales beginning on January 1, 2011"
 

MrG

Stylish Dinosaur
Joined
May 25, 2008
Messages
12,402
Reaction score
5,658
Those bastards. How dare they expect people who make money on the internet to pay their taxes like the rest of us?
 

RedLantern

Distinguished Member
Joined
Apr 6, 2008
Messages
5,250
Reaction score
4,188
Originally Posted by MrG
Those bastards. How dare they expect people who make a substantial amount of money on the internet to pay their taxes like the rest of us?

FTFY. +1 though.
 

Dakota rube

Stylish Dinosaur
Joined
Jan 14, 2005
Messages
13,307
Reaction score
242
eBay is the biggest, most public grey market in the world.
I'm not surprised the feds are finally wading into that revenue stream.
 

Hombre Secreto

Distinguished Member
Joined
Mar 25, 2007
Messages
7,511
Reaction score
5,464
This is going to hurt Ebay and more importantly me! People like myself will find ways to bypass Ebay/Paypal all together. I don't mind paying taxes, but $20,000 in sales isn't even that much.
 

ter1413

Stylish Dinosaur
Joined
Dec 3, 2009
Messages
22,102
Reaction score
6,042
Originally Posted by MrG
Those bastards. How dare they expect people who make money on the internet to pay their taxes like the rest of us?

Lol....But tru dat!
 

SpooPoker

Internet Bigtimer and Most Popular Man on Campus
Affiliate Vendor
Dubiously Honored
Joined
Oct 11, 2009
Messages
43,899
Reaction score
73,378
giant ******* faceplam
facepalm.gif
. Here comes endless paperwork.
 

intent

Distinguished Member
Joined
Jan 26, 2009
Messages
4,046
Reaction score
7
Small-timers. $20,000 in 200 payments means your items are only worth $100 on average.

This will affect grandma selling her figurines more than teh Keetone sellers. Looks like Washington has our back after all.
 

Douglas

Stupid ass member
Spamminator Moderator
Joined
Aug 17, 2007
Messages
14,243
Reaction score
2,166
It is about time internet businesspeople were made to pay their fair share, instead of exploiting loopholes that are not available to the rest of us.
 

jbmarine

Senior Member
Joined
Mar 24, 2008
Messages
156
Reaction score
0
Originally Posted by Douglas
It is about time internet businesspeople were made to pay their fair share, instead of exploiting loopholes that are not available to the rest of us.

This. Hopefully it will stop those stupid commercials on tv during the middle of the day. Unless it's that asian guy from the '80's with all the women in the bikinis on his mega yacht, it sucks.
 

frenchy

In Time Out
Timed Out
Joined
Nov 15, 2009
Messages
2,007
Reaction score
2
oh you nerds,theres such a easy way around this,has been for years just go stealth
 

Featured Sponsor

Who are your favorite fabric producers for MTM/Bespoke shirts? Choose up to 3

  • Albini

  • Canclini

  • Thomas Mason

  • Grandi & Rubinelli

  • Monti

  • Bonfanti

  • Söktas

  • David & John Anderson

  • Leggiuno

  • Testa

  • S.I.C. Tess

  • Alumo

  • Getzner


Results are only viewable after voting.

Forum statistics

Threads
523,518
Messages
10,749,119
Members
229,797
Latest member
tanganemas77
Top