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Some sellers don’t ship due to the tax rules that report your sales to the IRS when using electronic payments. The threshold is $600 over the course of a year.
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Alan Maier Bah, never heard that ! I do not think that is a reason . none enforces that really.
who do you think is reporting payments ? not pay pal which is bank accounts and credit cards and that is what most people use ! as it’s 100% safe for both parties ( friends and families )
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I used to ship audio equipment all the time. The folks at UPS and FedEx knew me as a regular customer - I even had accounts with both of them. However the reporting threshold went from $20,000 and quite a number of transactions down to $600 and no minimum. PayPal, Venmo and others are forced to report annual transactions over $600 to the IRS now. Of course you can claim the sales were personal items, but you still need to at least explain the 1099 to the IRS. Since I am retired now and restore audio equipment as a hobby, I don’t need to track COGS and explain it to the IRS. I do local/cash
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Alan Maier naw you exaggerate you do not have to explain anything and the IRS does nothing. please chill you are wrong . noone cites that as a reason. we would not buy fr you . I seems you are part of the problem ! just spamming my post what a guy ! you all can ignore this malarkey!
ONLY IF YOU HAVE A BUSINESS ACCOUNT !
"this rule is aimed at individuals who run a side hustle, small business or do part-time work and receive payments through a business account on third-party payment platforms. So if you don’t have a business account and you’re just sending money this won’t apply to you and your transactions won’t trigger a 1099-K form."
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Jack Dale Well that is good news. I know people who occasionally sell on ebay who have been stopping at $600. It looks like there is a short term $5000 point now. I don’t mind shipping at all.
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Jack Dale actually PayPal is required to report it as they are considered a banking institution. Does anyone really read it? That I don’t know. But I can assure you that they regularly make that information available.
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Jerry Emery well I researched it with the IRS and you don’t have to worry about it if it’s a personal account it only applies to business accounts so will you all please stop already.
Try a simple Google search geniuses
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Most say they just don’t want to be bothered boxing up and shipping so i have found good ways to make it painless as possible and offering to pay extra sometimes works too ! often now the cost of shipping $200 -300 + is more than we pay for old allison speakers !
Reply to Alan Maier
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so glad we put to rest , buried the silly rumor folks were reluctant to ship due to a tax liability and if someone seems reluctant you can ASK and overcome that objection ! I know it will be question i will ask ! hard enough to buy vintage gear w/ out THIS silly issue!