Changes to PayPal that could affect BST on Tacomaworld

Let them send you a 1099 and write off all your expenses including the cost of the items that you sell. Many sellers will have a loss and offset your other revenue/wages.

 

That would mean you would need to keep receipts for everything you buy for audit purposes, just in case you wanted to sell it later and write it off.

To quote a coworker, "There are consequences to who you vote for."

 

It won’t be just for payments.
It looks like, it will be for all transactions of any type.

https://townsquaredelaware.com/prop...rce-reporting-of-all-accounts-of-600-or-more/

Not sure how well this will go over if one is deposit their whole pay check at once?, like most people do?
That’s a whole lot of reporting to be done?

I don’t know, I figure before long, it will all be electronic anyways.

 

Time for more people to finally start accepting Bitcoin, stable coins or any other form of digital asset. It's the future anyways and it's inevitable that is coming. Paypal, Venmo and all other centralized institutions that charge fees for breathing will become obsolete.

I've been transacting with this type of payment since 2017 and I wouldn't do it any other way.

 

Back in the day, we had to go to the bank and get cash or money orders or cashier”s checks. Then mail them with a 10 cent stamp. And the banks were only open 10-3 on weekdays, maybe till 5 on Fridays (aka “bankers’ hours”). ATM? What’s that, atmospheric pressure? Kids nowadays …

 

...uphill both ways in the snow in bare feet....

 

If it's any consolation, the banking industry currently hates this proposal far more than we do, and has the heft to fight it.

 

Thank God! I just threw up in my mouth saying that!! I don't sell a lot these days, but I should have kept my LLC active!!

 

Dare I say +1 for big banks

 

What a strange world we live in.

 

dropped the threshold from $20k to $600, got to go after the little man. With love, your government.

 

bumping for exposure

 

Same rules for EBay? Trying to sell stuff I’ve had some 20 years. Don’t remember what I paid for them and certainly did not keep a receipt for that long

 

Yes

 

Anyone here about their new misinformation policy over the weekend? $2500 fine if they disagree with something you say on social media. I just deleted my account with them permanently. Venmo as well.

 

Must have been more than you. Paypal reversed this and said those statements in the policy were "in error" and there will be no such policy.

But good move on your part anyway Paypal cancels accounts all the time of law abiding Americans for stuff they just woke up about or something.