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THE LOBBY A gathering place. Introductions, sports, showin' off your ride, birthday-anniversary-milestone, achievements, family oriented humor. |
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#41
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The Following 2 Users Say Thank You to Ram Air IV Jack For This Useful Post: | ||
#42
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wow, calm down guy. wasnt trying to argue at all, just providing facts that ive provided proof of with links to their fees. & another member confirmed the tax comments you made are not true, beileve what you want.
also not trying to impress you nor compare to how long youve been using ebay, 20+ years basically covers 99% of the time ebay has been a popular thing, i started selling in the late 90's, when the internet became a big thing & ebay started... when were you selling there, 1980's before it even existed?? government charging taxes on online sales whether used or new is not "fine with me" ... its what they do & you or me cant stop it so not sure what your point on that is? you said ebay gets that tax, myself & carbking proved you wrong. "deal with it man". i know ebay doesnt "get" any of that tax because its not theirs, just like summit or amazon doesnt get any of the tax they charge on sales, if they did that the IRS would charge them with tax fraud. do i work for them? talking through my hat?? LOL! maybe you should ask yourself that since you claim to know what they are doing with taxes. what cliff said is incorrect as far as fees, or hes doing something wrong listing in another category than is being discussed here, i understand he doesnt like ebay, im just trying to help provide correct info. cant deal with it? again, looks like you are the only one geting all bent outta shape & arguing here, or cant deal with facts. not sure if youre having a bad day or this is how you talk to people in general when they correct you or state facts, but since you are the all knowing ebay guy, why dont you show some proof that anything i said about ebay, running a business or taxes in general is wrong? until then just quit while youre behind. heres a few explanation points for you too !!!!! Last edited by 78w72; 08-20-2022 at 10:06 AM. |
#43
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Ebay always seemed pricey to sell to me I think its the exposure that makes it worth it to some..
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________________________________________ 65 GTO owner since 84 original ca car |
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#44
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Exposure is there, but the price should reflect
1. Value 2. Say 14% Ebay SELLER fees 3. Say 0% Buyer premium 4. Say Federal tax at 25% ( varies on your bracket) On an item that has ALREADY been taxed 5. Packing/ shipping. Count on prices being 40% more than they are actually Worth. IF you have a business already you can deduct expenses, if a hobbyist, you loose. With the new doubled IRS I expect them trying to get rid of cash exchanges of goods.
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"The Future Belongs to those who are STILL Willing to get their Hands Dirty" .. my Grandfather |
#45
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when you collect sales tax you only send the irs a part of it. example MI is 6% i as a business owner would only send about 4-5% to the irs. I get to keep the difference for doing the actual collecting of the money. doesn't sound like much but it adds up quick.my experience anyways in MI.
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72 Luxury Lemans nicely optioned |
#46
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"IF you have a business already you can deduct expenses, if a hobbyist, you loose."
you dont have to have an actual business to deduct expenses, im not a business nor do i have a tax id. "hobbyists" that do this are called sole proprietors & can still take deductions for every qualifying expense just like a business. |
#47
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It's no secret that I do NOT like Ebay.
I dislike anyone or any organization that is corrupt. They literally stole over $30 from me last year and Pay Pal got me for another $30, both times it was 100 percent their fault, but be aware that they will NEVER admit guilt, or give you one penny of your money back for any reason. Judging by the way I was treated by Ebay and Pay Pal after they screwed up, they must be in bed together. It is a very EXPENSIVE place to to business. The only good thing they offer is maximum exposure if you are selling a car part, rare item, etc. If you are a "home based" business selling parts rest assured you will just about have to give them away unless it's an item that you are the only one in the World that has access to it. FORGET trying to incorporate your expenses and shipping cost into the price, there will be another seller of that item come along and beat your price by a nickel or two just to make sure they get the sale. I've done the math on a few things being sold on there by other vendors that I use here from the same supplier and they aren't making enough profit to cover the printer ink on the packing slip they put in with the part.....but I guess doing HIGH volume eventually adds up to a couple of dollars a month........FWIW......
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If you can read this, thank a teacher. If you can read this in English, thank a Veteran! https://cliffshighperformance.com/ 73 Ventura, SOLD 455, 3740lbs, 11.30's at 120mph, 1977 Pontiac Q-jet, HO intake, HEI, 10" converter, 3.42 gears, DOT's, 7.20's at 96mph and still WAY under the roll bar rule. Best ET to date 7.18 at 97MPH (1/8th mile), |
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#48
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If you have a business, or are able to as a hobbyist write off extra expenses, good for you.
I am incline to be more in Cliff's camp; For somone considering selling off stuff on the side, you are better off selling locally through craiglist or kijiji - the fees I had, between listing, final sale, and paypal FAR exceeded this 15%(+/-) figure; if they are high value items, I could see it being worth your time, but if you have money into said parts, odds are any profits you might think you have netted at time of sale, will be relegated to virtual pennies after the fact. ebay made several changes that did nothing but penalize sellers - especially small timers like myself. (i used to have sellers feedback, if it's more than 12 months old, I believe it's essentially deleted) I still look for items there; I have bough on average a half dozen items a year there for the last several years - but used to buy A LOT more.
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1970 Formula 400 Carousel Red paint on Black standard interior A no-engine, no-transmission, no-wheel option car. Quite likely one of few '70 Muncie three speed Formula 400's left. 1991 Grand Am: 14.4 @ 93.7mph (DA corrected) (retired DD, stock appearing) 2009 Cobalt SS: 13.9 @ 103mph (current DD; makes something north of 300hp & 350ft/lbs) Last edited by unruhjonny; 08-21-2022 at 02:39 PM. |
#49
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for the majority of items i sell like used auto parts or home audio/electronics, ebay sells them a lot faster than CL or other local selling sites ever could just because of the exposure.
as for fees, this screen shot of one of my recent sales, clearly shows the total ebay fee is 12.9%, they even do the math for you in case your calculator is broken... the fees have been the same for at least 10 years now, before ebay handled the payments the final value fee was 9.9% to ebay & paypal charged their 2.9 or 3% for a total of ~13%. now ebay does the payments so they get that ~3% payment processing fee, still the same ~13% for most categories. heres the payment details on a recent sale for an extra remote i had from some very expensive commercial HD projectors i sold, i would have taken $20-25 for it, it sold for $35, paid for all the fees & made more than i would have taken. sorry the screen shot is so small, but you can see the fee detials. feedback- is not deleted after 12 months or ever, you can look at any members feedback & it goes back to the 1st one they got. i have 2000+ feedbacks that date back to the late 90s, none have been deleted. "unrujonny"- you have 254 total feedbacks, if you click on 254 it will show all your feedbacks with comments from the buyer/seller. the 1, 6, 12 month breakdown is just to show recent activity, your total is still there. ebay is what it is, its costs something to sell there just like any other larger place you sell at from local auctions, to swap meets to amazon, they are providing a service to sell your stuff, 12.9% isnt that bad in 2022. its not pennies after the sale & youre not giving it away, if you price it right in the beginning you will make what you wanted or many time a lot more. if youre losing money that bad from 12.9% selling fee, then theres something else wrong. not trying to argue with anyone or compare anything, just trying to help correct some of the inaccuracies in this thread, everything ive mentioned is factual regarding ebay fees, or deductions for a private seller. Last edited by 78w72; 08-22-2022 at 11:11 AM. |
#50
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I have been a small time seller since 2000(average about 150-200 sales a year) but this year has not been the greatest with less people having disposable income right now. Like some have said Ebay has it good points and bad. I like going to the junkyards as this is my Zen place. I also buy parts to resell like these seatbelts from a Firebird. I bought them for 20 and sold for 220. So yes you can make a profit and plenty of people do. I do not like that ebay takes their 13% from the sales tax added onto item sold i.e. 233.75. It is all clearly on Ebay's page under ALL TRANSACTIONS. Also PayPal has nothing to do with Ebay any longer when receiving payments. I will say putting insurance on items help in case of damage, USPS is the easiest way to get reimbursed but UPS on Ebay is terrible. I am still waiting to hear back from UPS on a claim I filed. As 78w72 has stated you can deduct mileage, inventory cost that sold, fees and expenses. I am using a spreadsheet to keep everything tidy. There are plenty of youtube videos that are helpful for dealing with the upcoming taxes for ebay sellers. Anyway straight from Ebays page on those seat belts
FIREBIRD TRANS AM FRONT REAR SEAT BELT BLACK SET Item price: $220.00 Quantity 1 Fees based on $233.75 Total fees for item Final Value Fee -$30.15 Variable percentage • eBay Motors category Rate for $0.00 - $7,500.00 $233.75 × 12.9% = -$30.15 Final Value Fee -$0.30 Per order fixed amount Total fees -$30.45
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going bandit-Reynolds style |
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#51
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"The Future Belongs to those who are STILL Willing to get their Hands Dirty" .. my Grandfather |
#52
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Yes I keep all my junkyard receipts in a monthly accordion file but the spreadsheet should be all I need to file to the IRS. I also use a separate credit card when I make junkyard purchases or any other thrifting purchases, it also earns me 2% cash back on all purchases. The garage sale and estate sale thrifting can be tricky but I usually write down on a piece of paper what the purchased item amount is and into accordion file. The receipts and pricing sheet is just an extra precaution as I understand it if I was to get audited. The spreadsheet should be more then sufficient to fill out a schedule C though. This is the first year I have used this spreadsheet and it is an eye opener on how quickly shipping costs and other fees cut into the profits.
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going bandit-Reynolds style |
#53
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for garage sales, estate sales, swap meets or really any private purchase its standard to get a bill of sale with the buyer & seller signatures if you want a record of the sale or for tax purposes. |
#54
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My first purchase from eBay was almost exactly 23 years ago in 1999.
From Amazon, possibly as early as 1995, but maybe as late as summer 1996. They have both certainly changed a ton.
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"Yes, it's a real GTO. I know the scoops, spoiler, exhaust tips, and rear wheels are wrong. Umm, sure it's the 'big block' 400, you are quite the expert. I am driving in the rain, at night, running errands, with the kids who are eating and having ice cream in the back, after going to the drag strip, burning rubber, and blowing donuts. Do you really think it's numbers matching all original?" |
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