avatar!

So that's another thing. If you purchased $800 worth of games, played them, then sold them on ebay for $600 you still have to worry about it. It will still be reported and then the question becomes 1)Do I have to have receipts? 2)What if I don't have receipts from who knows how long ago? It becomes a headache, and most likely in these situations you're going to end up double-taxed.

I feel that many people on eBay fall in this category. Purchase something, sell it later, sometimes for profit, sometimes at a loss. I'm guessing with the new regulations the IRS is treating everything as a business, but as you noted, for many many it's just a fun hobby. Now, it's a real mess...

I'm waiting for the same thing to happen with teachers. I can't think of another sector that has provided dedicated people such poor income, while telling them to "just deal" with any abusive parents and kids (obviously most parents and kids are not abusive, but I've seen first-hand students abuse high school teachers and the teachers tell me they are not allowed to do anything about it), not to mention having to deal with bureaucracy and incompetent administrators.... and yet many people seem to think "hey, you signed up for this!" NOPE. Teachers sign up to teach and help students, to be mentors and guides. The Great American Teacher Exodus https://www.jacobinmag.com/2021/12/schools-shortages-pay-conditions-stress-covid-19 Before COVID-19, paltry salaries were supplemented by powerful nonpecuniary rewards, like the pride teachers feel when facing a classroom of smiling students eagerly engaged in dialogue. Social distancing, remote learning, and innumerable added stressors upon reopening have made it much harder to feel those rewards. All of this is compounded by the fact that educators are risking their health to teach in person, using up their sick days to quarantine, and often feeling that the leaders in charge of their working conditions do not value their safety.

But this is NOT a loophole. This year, the regulations are $20,000 and 200 transactions (selling). In 2022 it's $600 and a single transaction... that is a decrease of 97% or in other words the new threshold is 3% of the current. The real loopholes are the ultra-rich that get their wealth from stock and property. EVERYONE should read this article: The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax And back to this $600-ebay regulation - who exactly will this affect? A billionaire - absolutely not! A millionaire - nope. Middle class and lower - YUP. These new regulations are meant to squeeze taxes out of the plebs, people like you and I.

This is what paypal currently notes https://www.paypal.com/us/smarthelp/article/how-does-paypal-report-my-sales-to-the-irs-will-i-receive-a-tax-form-1099-k-faq729 Will PayPal report my business sales to the IRS? PayPal tracks the total payment volume on your account to determine whether it meets the IRS threshold in a calendar year: $20,000 USD in total payment volume from sales of goods or services in a single calendar year and, 200 payments for goods or services in the same year. It does say "from sales of goods or services" and not gifts. But, I'm not an expert and things are of course changing for the worse

UPDATE: SF Mayor London Breed Announces Crime Crackdown; ‘Less Tolerant Of All The Bulls–t That Has Destroyed Our City’ https://sanfrancisco.cbslocal.com/2021/12/15/mayor-breed-orders-crackdown-on-crime-in-san-franciscos-tenderloin-neighborhood/ Word on the net is that people in SF are leaving their cars open so that thieves see there is nothing worth taking and therefore do not break windows etc! I'll ask our resident Franciscan, @MrWunderful how true is that?

If you sell something and get paid via PayPal, I believe it's logged as a sale, and I imagine they will forward that to the IRS just like eBay does. As for giving gifts, there actually is a tax on that, but I believe you have to gift someone over $15k before it takes into effect. So, if someone gifts you a bit of money via PayPal, as far as I know it does not get taxed. Somehow, I think there are going to be many many more PayPal payments as "gifts" this coming year...

Wow! I'm curious how much they cost - you of course don't have to answer, but I'm definitely curious as I'm sure many others are too Are they CIB? What condition overall? My opinion - it's worth spending more money to get a good product you're happy with!

Removed a few, added a few, see first post!

From what I gather, and someone please correct me if I'm mistaken, the tax rate will be 15-20%. So, along with ebay's 15%, that's not an insignificant amount...

Texas High School Football Player Allegedly Lured Outside by Teammates and Brutally Beaten Reid Mitchell, 17, Ayden Holland, 17, and Logan Huber, 18, were arrested on charges of aggravated assault causing serious bodily injury in the attack on 16-year-old Cole Hagan, according to an affidavit obtained by PEOPLE. Hagan was found unconscious and bleeding from the ears by paramedics outside a house party in Lake Jackson on Dec. 3. According to the affidavit, the teens allegedly confessed to luring the Brazoswood High School football player from the party by saying his truck had been damaged. Once outside, he was then allegedly punched by Mitchell and knocked to the concrete. The four teens were teammates on the football team, the Star-Telegram reports. Hagan suffered from a fractured skull and multiple brain bleeds and was put on a ventilator in the ICU, the affidavit states. https://people.com/crime/texas-high-school-football-player-allegedly-lured-outside-by-teammates-brutally-beaten/ Hopefully they will all be tried as adults. I'm sure the defense will say things like "misunderstanding... they're young... they had some weed...blah blah blah". They nearly killed this kid! I hope they have their little testicles chopped off.

Thanks, added to poll By the way, do you have to pay some VAT or anything similar to 1099-k in Canada?

Fixed! thanks Link to send email to your representative https://www.ebaymainstreet.com/campaign/2021-federal-1099-campaign

Not surprising, eBay wants sellers to help overturn the new $600 IRS-reporting threshold. https://www.eseller365.com/ebay-asks-sellers-fight-low-thresholds-1099k/ That said, how will this affect you?

Cool! are the Star Wars lazerdiscs the theatrical release? I always heard the lazerdiscs versions are the ONLY ones with the original theatrical release of Star Wars, and that all editions afterwards were edited by Lucas. Not sure if that's true?

I will always support the peasants

I had to look this up! https://worldpopulationreview.com/state-rankings/legal-babysitting-age-by-state I certainly don't know all the rules, but if the above website is to be trusted, in TN for instance a child can be home alone and consequently also babysit when they are 10. Although, it may very by county or city etc.

Totally fair I should not have said " doing nothing"! I meant to say some are happy staying home and simply NOT looking for work or trying to improve their positions whether it is financially, intellectually, etc. And honestly, there is a point where that is perfectly fine. However, when people really could use extra money, and there are jobs available, and you can learn skills, AND then people just don't want to bother - then I feel that's antithetical to the American spirit. Also, people with multiple-kids often have the older kids "help out" - in essence it's a bit like free babysitting/daycare and of course there's nothing wrong with that!

@darkchylde28 hey, I definitely think we mostly see eye-to-eye, I was a bit generalizing in my previous post Of course there are people that absolutely deserve government assistance, and I absolutely agree that corporations and the ultra-rich should pay their fair share. By the way, the US corporate tax is slightly higher than the average in the world https://files.taxfoundation.org/20211207171421/Corporate-Tax-Rates-around-the-World-2021.pdf It's also substantially higher than quite a few industrial countries, and in fact Ireland is incredibly low at 12.5%, which is why many businesses have moved their headquarters to Dublin. So there's always a give-and-take with everything, and if the US now raised corporate tax to 50% it would likely devastate the economy. https://eig.org/dcieop I'd really like to think the American Dream is still alive! I think sometimes people assume it should be easy to be prosperous, but in the 40s and 50s people worked their ass off! At the time USA was the world's powerhouse, now with a "global world" that's no longer the case, but if I'm being honest, I still believe...

In Liberty County, workers who quit feel liberated, but the community discovers a powerful downside https://www.washingtonpost.com/business/2021/12/12/quitting-great-resignation-downside-labor-shortage/ Workers who have stepped away from full-time jobs say the pandemic helped them discover they can survive on occasional gig work and government benefits. Government benefits are not long-term solutions, nor should they ever be for people that can work! Frasier pays $11 an hour, plus commissions, at his hair and cannabidiol shops. The few applicants he gets these days "want $30 an hour, which is just impossible," he said. Seriously! people with no skill want to be paid what skilled laborers receive - NO. ...now the power and phone bills are piling up again. "There are days I just don't know how I'm going to make it to the next day," Towne said. "It was so much easier when I was working." How about that... "It's not that people are lazy," he said, "it's that some of them are better off financially by not paying for child care, staying home for a while, using their benefits to pay down some debt. It's simple economics." That is true to an extent, but honestly, overall people ARE lazy. "It's that some people's attitude toward work has changed. If you're a couple with five kids and you're getting $250 credits on each of them, plus the food stamps, you can keep one of you at home and take care of your kids." Yup, some people are happy staying home doing nothing... ugh. Honestly, this is so antithetical to the American dream. He remains confident that workers will come back. "It's always been the nature of Americans to work," Espada said, "to find a way to make some money and better yourself." Yes.

Foly hucking heck!! I totally forgot about that utter BS from the IRS! Of course I'm not surprised. I mean, people like Bezos can get away with not paying a cent on their multi-billion dollar earnings, so naturally those of us that sell $600 on ebay should make up for it...