FREE ADVISE I just learned something. I sold a car part for a few hundred bucks. The buyer paid me by PAYPAL. [ not friend and family ] after the transaction, THE TAX MAN came in for a cut, So lesson learned no more PayPal for me.Going back to money order / check sales.
Oh oh, I just bought parts from Mark Demko and I was going to f&f the pp payment so no fees. His wife sent me an invoice so I hope she knew what she was doing.......?
I figure they are going to get wise to the F & F trick and do away with that feature, I do that all the time
Important to always charge / pay friends or family otherwise they assume you are making an income or profit from the transaction.
Just curious so I can brace myself for the same thing: In which state are you located? How did the tax man contact you, email or USPS? Were you asked to pay a tax immediately or to submit it on your 2019 tax returns?
I have BOA and all other major Banks use Zelle, you can instantly transfer $ using just your phone# no fees. I have recently sold items that way. worth a try guys plus its part of most major banks.
Ot some but All these site have gotten hacked in the past. Best thing to do for your saftey is inquire how you can get a purchasing account and transfer money into it from your checking only for online purchases. That way when they hack it they only get your pennies
in Mass the tax man waiting at the borders for on line sales lol. first time I was taxed so I will see how it goes in 2020 tax season.
Unfortunately as some here have experienced, F & F thru Paypal can lead to scams as well. With no recourse after the fact. I have become very skeptical of several items I see listed here and elsewhere when shopping for items I may need.
Yes the "regular" pay pal transaction (with the recipient fee) give the buyer some recourse. Not so with the friends and family deal. Usually try to avoid it unless it's a repeat customer or someone I know fairly well. yes I did get burned (but only once) by sending a postal money order for wheels, years ago, that I never received. Not a big deal, (yes was pi#$ed then) was only like $75, but yes it is mail Fraud.