2. misc-audio
  3. 151218-4331

What just happened to accepting Paypal?? looks like they are trying to drive us away

i may have over reacted... for some reason PayPal wants to drive me into a business account. Looks like the fees are the same so not sure what that is all about, I'm just suspicious by nature

If you switch to a business account which is pretty easy you get a merchant ID, enter it here, and move on. If you don't want to do that then they make it very complicated to fill out forms, etc. I gave up and switched to business, made up a bogus business name and am moving on...
herman
uberwaltz's avatar
uberwaltz
13,381 posts
 
Although I hate to say it, it does look like the new Ebay managed payments system will work out better for the hobbyists.
They also have to report to the IRS sales of 20k or 200 items BUT they do not know or care about any monies received via PayPal friends and family so at least it should be an accurate fair reporting from eBay.

Ok back to the topic at hand......
david_ten
5,480 posts
 
@lula  Thanks. That's good to know. I was referring to 'self-reporting' which is what we all do, even for Craigslist. : )
lula
213 posts
 
Uberwaltz...PP only reports to IRS if the sales reach 20K (I assume you are correct with this number) AND 200 items sold. I discussed
this issue with PP some time ago to make sure that BOTH criteria must be met to be reported, not one or the other. Obviously, one can easily sell a few pieces of high end equipment and reach $20K. That would certainly not constitute the workings of a business.

 
david_ten
5,480 posts
 
@lula  Thanks again. The information you shared is valuable. Appreciate it.
uberwaltz's avatar
uberwaltz
13,381 posts
 
Lula
Correct but you forgot the part where PayPal just lump ALL of your monies received regardless of its source and send it to the IRS.
It needs to be differentiated so the IRS can see truly what is occurring .

Trust me I have LIVED this problem for a couple years.......
Cannot say any more.....
More to discover