cromag27
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Posts posted by cromag27
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21 minutes ago, broncofantd793 said:
How long should something stay in “awaiting” status? I paid for tracking and signature confirmation, so I know WATA has the package.
it can vary but my last submission, last month took five business days.
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3 minutes ago, epiczail said:
Yeah this is pretty much what I had expected. Pretty awful experience. I took the email from them a couple months ago with a grain of salt. Sent another email a couple weeks ago and still haven't heard back. But emailing is pretty much useless.
It surprises me they don't have a threshold for tiers when they have surpassed a certain date in their warehouse they jump the line. One would think they'd have to grow their team so they are able to grade more on time.
on point for me. they reply to all of my emails within a couple hours.
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i just had a warp-zone graded in two business days, and several speed-runs graded in 19 business days.
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4 hours ago, Tanooki said:
I did some poking, found this so far of those who already screw their citizens (knew of MA from a friend) Vermont, Massasschusetts, Virginia, DC, Mississippi, and Maryland. $600 in gross payment value over a year. Illinois is $1000 over 4 sales and New Jersey is $1000 overall. $2500 in Arkansas.
DAMNIT...fucking democrats and their taxing. I was going to ask where'd you find this, but I did some digging. That asshole in chief Biden signed it into law this month. I guess I'm done using ebay for sales 12/31 of this year. I refuse to pay taxes on an item I already paid taxes on to buy it in the first place. I'll just use facebook, cash only. I wonder if I'll need to terminate my paypal account too, since they'll happily rat me out too if I have more than $600 injected into the account from 'goods and services' as well. Seems if you go along with it, you're hit with the 15.3% self employment tax rate.
American Rescue Plan Act Clarifies Scope of Form 1099-K Reporting and Reduces De Minimis Threshold
Section 9674(a) of the ARPA changes the de minimis threshold for Form 1099-K reporting for TPSOs. (No de minimis threshold applies with respect to payment card transactions.) Currently, the de minimis rule under section 6050W(e) provides that a TPSO is required to report on Form 1099-K with respect to third party network transactions of any participating payee only if (1) the amount that would otherwise be reported exceeds $20,000, and (2) the aggregate number of transactions exceeds 200. The new law replaces this two-step de minimis standard with a single $600 reporting threshold effective for 2022. Accordingly, a single transaction for more than $600 settled through a TPSO will now be reportable as will multiple transactions that total more than $600.
the only ways around it would be accepting cash, paypal friends/family or using direct bank transfer services like zelle or apple pay. none of which ebay accepts.
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the 1099k is only to report transactions processed via card (ebay, paypal, venmo, etc). it has nothing to do with owning a business or sales tax. it’s designed to keep business owners honest, but it now effects all of us who just want to sell personal items. yeah it sucks.
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15 minutes ago, RegularGuyGamer said:
Any documents on that? It's federal tax idk why the state would choose. Also, only applying the standard to ebay's new payments and not Amazon, or any other only distributor seems specific.
nope. it’s a shared federal/state program and not all states have adopted it. and as already discussed, different states have different thresholds. it does not only apply to ebay and amazon. it applies whenever you sell something and use a card processing service. i believe more states will be bumped down to $600 next year, and with NO min number of transactions.
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6 minutes ago, RegularGuyGamer said:
Damn that's an insanely low threshold. $600 or $20k? Where do they ever come up with that.
the state.
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10 minutes ago, MrWunderful said:
It said no form 1099K available. I only made 7k on ebay last year.
yeah it’s $20k and 200 sales.
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6 minutes ago, MrWunderful said:
Ha! I looked it up and assumed I would have to pay taxes because this is CA, and I guess i dont! Up yours rest of the USA!
ca is still subject to a 1099k though.
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18 minutes ago, BreaKBeatZ said:
I wonder if changing my address to a non-Maryland state will work. Being taxed on this is total BS because I spend more than I sell on the hobby but can't deduct that. And of course, I can't provide a cost basis for games I sell, but it's usually for around what I paid for them.
that would be fraud.
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4 minutes ago, BreaKBeatZ said:
I was just looking at eBay, and noticed that I am going to get a 1099 for having $600 or more aggregate sales in 2021 since I live in Maryland. That's a hell of a lot lower than the $20,000 limit from PayPal. Has this been discussed already somewhere else, because I'd love to hear people's opinions about it and if there's a way I can switch back to using PayPal to receive payments and avoid this.
no way to switch, i've already inquired. they now get to choose.
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On 3/15/2021 at 5:34 AM, Quest4Nes said:
Dont yiu think ive been all over that man. I have an anchor store. Ive done this and my taxes for years. I now what i need. I can look at invoices by m nth. Too bad sales tax isnt on there. Im off nearly 2k from what was reported on the 1099 and i manually accounted for sales. The more detsiled reports are 90 days. The normal invoices you are talking about are the ssme ones they always have. This past year paypal and managed payments are mixed and this causes the problems. If you dont sell bulk like i do and fill out your own complicated tax forms for it then you wouldnt understand.
I did manage to find a csv file for detail for 2020 but its only the period with managed payments. No data pre september for that even though i requested 12 months. What you are suggesting ive already been done and went through. I know what im doing dude.
sorry, no offense was meant. just trying to find other ways in case you missed something, but it sounds like you obviously are in the know!
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oh and the smb box/manual only, lol.
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29 minutes ago, Gulag Joe said:
These auctions are not even close to being over and the prices are mind blowing for many games already. I think we're going to see a whole bunch of record sales.
i’m curious mostly about the left bros ns.
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2 minutes ago, Dumars2001 said:
It is pretty clear to see that new collectors in this hobby are after/desire games like Mario, Zelda, Castlevania, Black Box Games, Sonic, Pokemon, Disney, Marvel games, popular fighting games (Mortal Kombat, Street Fighter, even sports games) and not the games that used to be desired like Color a dinosaur, Gun Nac, etc. If you have those main character games/famous titles sealed or in good CIB condition, you have a gold mine in today's market! Basically, things disability has done a 180 turn. Recent sales and the sales currently going on at Heritage pretty much prove this shift is the market.
yup. relatability and sentimental value can add a lot for people.
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36 minutes ago, Quest4Nes said:
Sellers hub data only goes 90 days. Having it mixed this year is a nightmare. This invoice is a god damn clusterfuck to go through. Ebay has no clue what a seller needs.
not true. for finance reports you can go back a couple years. the 'tax report' you get every month shows you the taxes on fees (if any) that have already been deducted. oddly enough, none of my sales have been taxed this year.
You can download your Tax invoice in Seller Hub. Here's how:
- Go to the Payments tab - opens in new window or tab in Seller Hub.
- From the menu on the left, select Reports.
- Select the Invoices tab. You'll see the list of available Tax invoices by month.
- To download a report for a specific month, select Summary Download or Detail Download.
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i’m definitely watching that left bros ns. will be interesting to see what ns does for the value, if anything.
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7 minutes ago, Quest4Nes said:
As a seller managed payments is so much worse.
Its very confusing as far as what is reported. Sales tax etc. Paypals gross mount had sales tax separate on the reports.
With msnaged payments you just h ve to take ebays word on them hsndling everything correctly and controlling your money. Its awful. Its all so confusing especially as a bulk seller. Putting all your trust in this shitty tech company raises your blood pressure
but you can see the sales tax in your seller’s hub.
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17 minutes ago, yZoneFox said:
The process is the same for figuring out fees. Ebay reports what you make - your gross. You will still have to deduct what taxes are collected by ebay and their fees.
Once Amazon becomes a bank, that's it--game over. Use their 5%/3% credit card to double up on cash back from ebay and transfer money directly into your Amazon bank which you can use to pay the credit bill because you are a responsible adult who doesn't allow credit to pile up.
the process is not the same because you don’t have to worry about additional fees from paypal. those fees are now deducted by ebay. think of ebay as being the payment processor now. and yes, you will still be subject to a 1099k when appropriate because that’s the law.
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36 minutes ago, yZoneFox said:
You misunderstand. I want money in Paypal. I have to do an additional transfer after ebay transfers it to a bank.
Further, depending on the payment a buyer uses, that money can take longer to become available and send to your bank account. When Paypal, handled things, they allowed instant access to the money even though it wasn't done transferring, basically given you a loan interest-free.
Once a payment clears using the new ebay managed system, it sends to your bank account within 3 days.
not exactly. yes you do have to link a checking account for payouts. but my funds are always available 1-2 business days. not instant, but close enough for most people. i’ve never had a payout delayed for any reason. and with paypal there could still be delays until funds were available.
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3 hours ago, RegularGuyGamer said:
Is this real?
First Nintendo Powers selling for between $2-3k??
I have one in a frame that's like new. If this is real, it's hitting the auction block lol
i would send it to cgc first.
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4 hours ago, tbone3969 said:
All I can do is look at my sales and fees. I sell mainly video games and I can say the fees have been about the same or slightly less overall. Honestly wish they just stuck with PayPal. The instant access to funds via PayPal was much better IMO.
my overall fees are a little less now. it just took me time to get used to seeing everything taken out in one lump sum. remember, paypal was taking like 2.9% plus a fixed fee based on currency. then ebay’s fees were billed to you later. i like it this way where you can see the exact payout immediately, and i don’t have to use my paypal account at all.
waiting 1-2 days for my money is not a problem either.
mileage will vary, but i like it overall.
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11 minutes ago, yZoneFox said:
I did the math myself. You have to do a lot of transactions for things to even out. It really depends on where the item is going because of taxes and / or international fees. In general, they take more. Again, it will depend on how much you sell and what the sale price is, but generally you could see fees taking 16% of what you sold. Before, directly via Paypal, it was somewhere between 11-13%.
Since online sales tax became a thing everywhere in the (late 2019 in US), taxes were always part of the sold price, meaning Paypal collected a fee based on the total amount the buyer paid: sale price + transaction % fee + fixed fee of like 25cents + tax paid by the buyer.
The tax was then remitted back to ebay for them to report on their IRS tax filings. You could deduct the taxes from your gross as ebay fees. If you didn't deduct, the government thinks you earned more then you actually did.
The biggest pain for me is the roundabout access to money. It takes two weeks for me to have access to money the way I use it. That is, I want money in Paypal. Many commerce sites still offer Paypal as a payment option and it is actually beneficial to use it vs credit cards on certain sites. I have money going to a bank account, which can take 1-5 business days. I then have to transfer that money to Paypal. Since this change happened, I noticed transfers from that bank to Paypal taking 5 business days. Factor in weekends, and you're looking at two weeks for money to arrive in your Paypal.
Prior to the change, for all intensive purposes, Paypal gave immediate access to the money even though the transaction between banks or whatever payment method the buyer used could take longer. Paypal was actually doing people a solid by essentially giving them a cash advance without fees.
i have my ebay payout schedule set to daily, and usually see funds in my bank account 1-2 business days later. that may vary from bank to bank.
new a nightmare on elm street
in Buying
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looking for a minty manual. thanks!