Jump to content
IGNORED

I just got my 1099 from Paypal


Philflound

Recommended Posts

I didn't think of the internet cost. That's a nice $400+ right there for the year. I bought a storage unit for the yard that I house many of my items. I also rent a storage unit. I do have a lot of writeoffs. It's just the time I have to spend doing it now. I was keeping a log of all items I sold with what I paid, but got a bit lazy. I did 7 of the 12 months, so I'll have to do some more work. I was actually doing it, not for tax purposes, but to see how much money I was making. I've been extremely upset with Ebay's fees and paypal's fees. I wanted to see how greedy they've become. I love they keep raising fees but do no additional work. During Christmas season last year, I was working a good 30 hours/week just with Ebay sales. I'm wondering if it's worth my time.

 

Phil

Link to comment
Share on other sites

as if the government hasnt been mishandling money for decades. our country is in debt, what, billions of dollars?! LOL why keep giving them money, our government is a BAD investment.

 

If everyone paid their taxes like they are supposed to, Then the country wouldn't be in debt.

Absolutely not! Yes he owes taxes on the money he earned, but a statement like that is absolutely not true. Our government has now proven that they will missmanage any amount of money given to them. Won't say anymore as this shouldn't be a political discussion. A statement like that has no way of being proven to be true.

  • Like 1
Link to comment
Share on other sites

I wondered when this would become official... I think there was some talk about heavy sellers in Canada having to pay taxes a couple years ago. At the time I was a silver seller on Ebay for a couple of months and was concerned. Turned out, I was only a silver seller due to selling a couple big items in one month. lol I don't think I'd ever see $20k in sales in a year without it being a full time 'hobby/addiction'. 200 transactions is a lot as well.

 

Now, when you factor in gas, meals and all the other expenses you can deduct... chances are you can very easily minimize all the costs by doing some simple bookkeeping.

Link to comment
Share on other sites

Man if most of you people knew what I did after years of research you would understand how evil and corrupt the IRS is. "SERVICES" like the IRS are the real reasons the USA is on a slippery slope to shit creek. Again as you can see by the responses, the only reason people defend it are they live in fear of going to jail. Guess what folks, revolution is coming soon in case you havent looked around, things are getting very bad and theres a lot of pissed off Americans that are not happy about how badly the government is failing.

 

Just ask yourself, what exactly has your government done for you that they deserve thousands of your hard earned dollars, and what about paypal and ebay, why in the hell anyone would defend them is ludicrous, sure I use them both to SURVIVE. I have resorted to buying and selling on ebay to SURVIVE, not THRIVE like career policians and higher ups in ebay and paypal who make multi millions of dollars in salary money from the hard work of other people while they sit around twiddling their thumbs. I am already FEE'D to death on ebay and paypal I will be damned if I give any more hard earned money away to people who do not deserve it more than me, sorry but paying rent and eating come first for me not lining the pockets of some scumbag sitting at an office desk doing nothing making over a million year, understand?

 

Let me tell you there is going to be a huge increase in people with the same attitude as me and the government will not put any of us in jail because we outnumber them 99 to 1. The people who should be going to jail are 95% of those in government who are failing their people and driving this country into depression. Government and big business that is, who are basically one in the same. Government in usa is no longer for the people but for the MONEY, creating false wars solely to profit with their big contractings buddies and outsourcing millions of jobs to poor countries and using those people as basically slave labor. wake up people, time to stop complying with this bullshit and not be a slave to this corrupt system. I am a good honest person and I dont care what anything thinks of me I know who and what i am and I stand up for my rights and freedom. Do some research dont listen to me cus I know most of you wont trust me, but do some research and you will see what im saying is not bullshit. stop reading your newspapers full of lies and turn off cnn they are brainwashing us to be slaves. lets not be slaves. k.

Edited by kevincal
  • Like 2
Link to comment
Share on other sites

I didn't think of the internet cost. That's a nice $400+ right there for the year. I bought a storage unit for the yard that I house many of my items. I also rent a storage unit. I do have a lot of writeoffs. It's just the time I have to spend doing it now. I was keeping a log of all items I sold with what I paid, but got a bit lazy. I did 7 of the 12 months, so I'll have to do some more work. I was actually doing it, not for tax purposes, but to see how much money I was making. I've been extremely upset with Ebay's fees and paypal's fees. I wanted to see how greedy they've become. I love they keep raising fees but do no additional work. During Christmas season last year, I was working a good 30 hours/week just with Ebay sales. I'm wondering if it's worth my time.

 

Phil

 

You can download a log on PayPal that will show all of your purchases and sales through PayPal. It will also show your PayPal charges and PayPal cash back. In addition it will show all of the shipping that you did through PayPal and this would include USPS, eBay and UPS shipping. You can go back for the last year and get all of your eBay expenses under your account tab under your eBay account. Dealing with taxes when selling on eBay is an absolute pain in the ass. It is extemely time consuming and it is one of the reasons why I decided to phase out my selling on eBay. I still have a bunch of stuff to sell but once it is gone I am done. Between eBay fees, PayPal fees and self employment taxes it just isn't worth it.

Link to comment
Share on other sites

I really don't think a political discussion on this is where it should be headed. This is a discussion on PayPal requirement to provide 1099 forms.

 

I doubt that they would put you in jail for not reporting what you sale on eBay. But they would definitely go after you financially especially if you received a 1099 form and ignored it on your tax form. They would hit you with penalties and liens to collect the money. This would mean attachments on paychecks, property, whatever you have. Fixing it after the problem comes up would be much harder than dealing with it up front and taking whatever deductions you are entitled to take.

 

Nobody should ever suggest that someone take that risk.

Edited by kheffington
Link to comment
Share on other sites

Taxes are a necessary thing.

 

Re: Survive. Yeah, I had to do that. Just got done catching up many years. Lucky for me, I had the records, though they were not in a quick 'n easy form. Had a total pig of a time getting it sorted.

 

So, here's what will happen when you deny the IRS. For a time, they will ignore you. What they do is wait for the dollar amount owed to become significant enough to assign an agent to. Most people get one of the agents you talk with at the 800 number. If you are self-employed or small business, they will assign a field agent. This agent will communicate with you nicely for a time, then they will send you a note saying they are going to start talking to other people, at which point you can expect a levy within a month or so. That levy will attach to whatever they can find, and it caps income at some small amount, no matter what one makes or does not make. Could be as low as $800 / month, could be higher. It's not a percentage either. Make 5K / month? Still get that $800.

 

If you ignore them past that, the levy works until you are paid up. You might not ever talk to anybody, and if you don't want to, and can live on that amount, great. Your problem will resolve for the most part, but it will be extremely painful. If a person structures things to avoid that and or continues to not file returns, etc... that's criminal, and they can come and just take stuff. Actually, even when it's not criminal, they can come and just take stuff. A marshall typically will just open your home, and the stuff goes to auction, cars, you name it. The IRS has the power to remedy this scenario.

 

The technicality mentioned in the video is RARE, and very high risk. The risk is financial and jail, potentially a lot of jail, and a lot of money.

 

On the other hand, if one has had to survive, guess what? The IRS actually understands that. How they respond really comes down to what individual people do. In my case, I ignored them until I got the serious letter, at which point I called the field agent. We spoke for about an hour. They had me for a quarter million dollars! Now, I owed no where near that amount, but I did owe something, and if they file the returns, that amount is a lot, plus interest, plus penalties, plus fees. If you file them, that amount is considerably less, and if you had hardship, the penalties and fees can be waived, leaving the principle and interest only.

 

What I did was just put it all out there and ask for help. I got it. Had to do some accounting, and deal with a number of years, ugly years. In the end, I owed about one percent what their records would indicate. Easy cheezy. From there, it was a voluntary payment plan, easy to do by just stuffing some amount into the withholding form, or uncollectable status, meaning future refunds could just pay off the old taxes, or serious payment cash or credit, or they sell your shit and throw you in the pokey for a while. It's all up to you.

 

We made a working plan to get the returns in, and I did it, checking in, or asking for time when things were ugly, and it all got sorted out. It just wasn't hard.

 

Taxes are necessary. Fact of life. The fact that we have shit wages more than we don't, race to the bottom style is a policy problem, and the political discussion to be avoided here. It's not a tax problem, which is the position the IRS takes, and rightfully so. Regardless of how the policy works for us or does not, the taxes power the machinery of the society we live in, sustaining the nation we live in. Love it or leave it, that's just reality. It's not immoral, not a crime, not anything but basic civics. Where things go bad, we've got civics to remedy, and we've got the courts. The IRS responds to both, only there to collect what the people have deemed a worthy collection. There is no horror back story, no nefarious plot, nothing.

 

The IRS actually operates under some nice disclosure provisions. They actually publish EVERYTHING and are duty bound to answer all questions and deal with people reasonably. There are special divisions designed to respond to crappy / criminal / dishonest service, and they are there to insure that the IRS only does what it is supposed to do.

 

90 percent of the garbage people read online about the horrors of the IRS is either complete garbage, or realistic for people intending to do, or who have done criminal things. For the rest of us, it's bunk. One can pick up the phone and deal with this stuff rationally with few worries.

 

In the mid '00's I got hit hard with health care things. Sucked me dry, no home, no nothing, and I had to just deal. Things are ok now, which is good, because I could actually deal with those bad years. The experience was as reasonable as I made it to be. And that's the core message. The IRS is just exactly as shitty as any of us chooses to be.

 

So I get surviving. Had to do it, and no worries. There are means, methods and processes in place to help people recover and get back on track. My advice is to USE THEM. Do what you need to, but plan on going back to address things, and take the time you have to get your records, calculate your deductions, get accounting help, whatever. In my case, the money was very well spent. Had I not done that, I could be on a very fixed income right now, paying for easily 10 years or more. Doing that netted me a basic amount, easy to pay, no worries at all.

 

Get the emotion out of this stuff, sort out what you did, and then deal reasonably, communicating why you had to do what you did, and when that is done, there are good answers in nearly every case. Don't read the crap you see out there. Get basic accounting and maybe basic legal, depending, and then just work through it. They are not chartered to leave you with nothing. That's against the law. Chances are, if you actually do have to survive, your status will reflect that, leaving you with a very managable tax assessment. If you are not? Well, then it's going to mean paying, but not so much that it would force you to have to survive, unless it's criminal, then all bets are off.

 

Some of the statements here border on criminal. Reconsider those, framing it in terms of basic hardship, etc... and things will go much better for you. Count on it.

Edited by potatohead
  • Like 2
Link to comment
Share on other sites

I would like the gigantic government to be more efficient and less corrupt too. It is the best government money can buy.

 

But getting all anarchic is senseless. We live under the rule of law, drive on paved roads (mostly) and can rely on our infrastructure. If you think you (kevincal) can find a better country, just move there. We are very very lucky compared to most people in the world.

 

I would like to pay less taxes, but I also have no intention of getting freaked out about a few grand to keep my hobby honest.

Link to comment
Share on other sites

i agree about the paved roads, that is about the only thing i can think of that the government has actually done good on. LOL. The only thing the military has done for my family is give my relatives early deaths and kill untold amounts of strangers on the other side of the world that never meant me any harm. and then of course the rest of the money has lined the pockets of all those corrupt fellows and allowed them to live a life of luxury with homes all over the world yachts ferraris gold up the ass you name it. come on people, wake up. wake up...

 

Government should be made of up normal working class people, your average joe, not a stupid person but an honest person. these days in the world most governments are made up of career politicians who are in it for the money and not the well being of the average person. if you can not see this you are truly brainwashed and blind. but its not totally your fault as we are being purposely misled and brainwashed and lied to our whole lives, indoctrinated. but thanks to the almighty and unrestricted free flowing of information on the internet we can finally see the truth. why do you think this SOPA act has come up, THEY are scared shitless that all of their secrets are coming out in public now. and they want to regulate the internet just like tv newspapers and other mainstream media.

Edited by kevincal
Link to comment
Share on other sites

Kevin, please stop trying to drag politics into this. This is about PayPal/EBay and 1099's, not about your anti-US government stance you always beat us over the head with. Either please stick with the topic in the thread or don't let the door hit you in the ass on the way out. I'd like for this one NOT to be locked!

  • Like 1
Link to comment
Share on other sites

as if the government hasnt been mishandling money for decades. our country is in debt, what, billions of dollars?! LOL why keep giving them money, our government is a BAD investment.

 

If everyone paid their taxes like they are supposed to, Then the country wouldn't be in debt.

 

Agreed. Even Warren Buffett said it was wrong that his tax rate is lower than that of his secretary.

  • Like 1
Link to comment
Share on other sites

Taxes are a necessary evil. Most of us actually consume more from the government than we pay in.

:thumbsup:

Most adults have figured out thats how it works.

 

Kevincal has a right to his opinion. You DO NOT have a right to insult him.

 

Please re-read Atariage's rules and regulations.

 

Allan

Link to comment
Share on other sites

Taxes are a necessary evil. Most of us actually consume more from the government than we pay in.

:thumbsup:

Most adults have figured out thats how it works.

 

Kevincal has a right to his opinion. You DO NOT have a right to insult him.

 

Please re-read Atariage's rules and regulations.

 

Allan

 

Mod-envy much? Or are you his mommy?

I know AA's "rules and regulations" well enough. Please show me where I directly insulted kevincal by name. Not that his anti-semitic/irs are run by jews rants aren't legendary and well deserving of a tar and feathering. Meanwhile...Get bent son. Nobody asked you.

Link to comment
Share on other sites

Anyone figure out if the 1099 they sent as gross income has already subtracted paypal fees?

 

If that has been taken care of, I just have to go through the tedious process of determining my eBay fees.

 

And BTW I'm pro-government. Try living in a third world country where the government doesn't do anything. People need to organize in some way to take care of large things for each other. We're so so lucky to live in the US/CAN/EUR/JAP and other places under the rule of law and democracy.

 

 

edit: I figured out that I could determine my fees by simply going to the monthly invoice page which shows your monthly fees. I had to use a drop down that showed each month's eBay fees charged to my credit card and just type it into a spreadsheet by hand.

 

I used to download all activity and create a giant spreadsheet and add them up. It took a lot of editing since I don't know how to use scripts to remove extraneous characters and information.

Edited by ianoid
Link to comment
Share on other sites

The quality of life in different parts of the world has little to do with the government, its the PEOPLE. People live in very different ways, just because some "3rd world country" has lots of poor people doesnt mean most of those poor people have a bad life, they simply dont care for the material goods such as we are brainwashed to in the western world. I myself and learning to connect back with nature, I dont have tv anymore, instead I buy birdseed and watch the birds in my backyard, I dont have a fancy car, never vacation, the only thing that matters to me is good health. The biggest myth mainstream western media pushes is that all people in poor countries are miserable and dying from disease, its not true. For instance look how big Africa is. Yet for example my dad reads the paper everyday and hes convinced the entire continent is nothing but diseased dying people and non stop war covering the entire continent. Its simply not true, they are people thriving there, sure they are "poor" to our standards but they are one with nature like the native americans were, not greedy, just simple honest people who dont need much in life other than family love and health.

 

Government is always the problem, they are always the ones to start wars, its never the normal people of the land who start wars but the masters / leaders / kings / presidents, its always these people as well who want to tax everyone, and in reality they give very little in return, they lie and say they do but they dont, they keep most tax money circling within their family and inner circle of high up government and big business cronies.

 

The fact of the matter is according to the united states constitution federal income taxes are ILLEGAL. Most people dont even realize anything "federal" is actually private! nobody is overseeing their actions ultimately. Federal reserve is privately owned and they print and control money. they are no more officially "federal" that federal express..............

 

The fact is western media has us all living in fear that if we dont obey the system and pay taxes we will be jailed. Bullshit, just cus they jailed wesley snipes 5 years ago to try and make an example, the justice and police force have way too much REAL crime on their hands not to mention smart people know some of the worse crime and most notorious is white collar crime that happens in washington and wall street etc etc. How exactly do you think people become millionaires? Its not honesty and hard work... let me tell you that. No truly honest person could ever become a millionaire because it requires hundreds and thousands of people to be "ripped off" in one way or another and loads of money funneled to one person.

 

Sure there are countries worse that USA, and sure i was born here and wont leave. the point is the country could be MUCH BETTER but its not because of corruption and false wars and greed and lies. people like me need to speak up to remind people to not be so passive regarding the people trying to control your life and collect your hard earned money. The fact is we ultimately control our own lives and our government does nothing to make our life better, only make it worse. I work hard for myself and only give money to people i think deserve it, this point in time our government is failing, they dont deserve my hard earned money. and its not even constitutional anyway. Do the research everything im saying here is the truth.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...