eBay

newdealpawn · ‎04-09-2022

A completed transaction in the collectibles category, today 04-08-2022.

Fees based on $210.64
Item price $194.49
Shipping and handling $3.99
Sales tax $12.16
Fees based on $210.64
Total fees for item Final Value Fee-$25.28
Variable percentage • Collectibles category
Rate for $0.00 - $2,500.00
$210.64×12.0% =-$25.28
International Fee-$3.48
Charged because the buyer’s registered address is in United Kingdom.

Final amount: $210.64.
$210.64×1.65% =-$3.48
Final Value Fee-$0.30
Per order fixed amount
Total fees-$29.06

THIRTY DOLLARS ON TWO HUNDRED good work if you can get it. A promoted listing NOT USED to make this sale and ACTUAL shipping cost not included either. The use of the promoted feature, and true shipping costs would add SUBSTASNTIALLY to the total seller cost , exampled above. UNDERSTAND THIS TO LADIES AND GENTS THE SALES TAX IS LANDING ON YOUR 1099K AS INCOME eBay inflating your incomes to the tune of anywhere from 5% to 11% if your items land in one of the workers paradises such as NY or CA perhaps a touch more.. Up to the individual pull those funds eBay has collected for the "benefit of the sellers and the States" my accountant looked at me like I was nuts. See in my state if you want to claim taxes paid you're gonna need some paperwork on that..If a seller ends up with tax problems due some this wacky accounting eBay is doing, Iam sure we can count on them to help get it cleared up with the revenue people.... Well a quick glance at the updates to the user agreement they have made recently tells me NOT TO COUNT ON IT.. FOR an effective rate of 15% on the gross I think we could expect MUCH BETTER SERVICE. The eBay leadership should have tax people available talk to sellers on this issue and the new regs on reporting. Using facebook as your contact medium for customer service?? REALLY 15 PERCENT and they want me talk about my tax return on facebook? That's a new course for post graduate work at California universities for an MBNA in business nowadays you see its called "How to slow growth and alienate your customer base 401". Perhaps going forward the 2 million plus seller exodus, and the 30% PERCENT A SHARE STOCK SLIDE, could of be mitigated if some the current leadership would do something different than what strategies are in place currently.. Raising fees to compensate for bad leadership decisions will only work for a limited time.. Any even the SMALLEST increase in seller cost from where it is now will make positions untenable on this site for MANY. Math never lies NEVER....

inhawaii · ‎04-09-2022

I did not bother reading your entire post. Too lazy.

But did you trying doing the math BEFORE you sold the item?

Did the math come out differently before you sold the item than after you sold the item?

Papa Was A Rolling Stone - The Temptations

alcoforever · ‎04-09-2022

My local consignment shop charges me 50%. So 15% seems like a great bargain.

fashunu4eeuh · ‎04-09-2022

I did read the whole thing. (Paragraphs are your friend.)

I don’t think eBay cares very much about losing sellers. It has over 19 million globally with a user base of 159 million, from the latest numbers i could find. Although i am wondering where you found your stats on the number of sellers leaving (or was that left?) that you mentioned?

I agree there is much that could be done to improve the seller experience on eBay. But i do not believe eBay is going to change much unless it benefits them, and that is to be expected.

pburn · ‎04-09-2022

@newdealpawn wrote:
UNDERSTAND THIS TO LADIES AND GENTS THE SALES TAX IS LANDING ON YOUR 1099K AS INCOME

@newdealpawn

That is incorrect. The Form 1099-K that eBay prepares and distributes to sellers does not include sales tax in the payout totals.

fab_finds4u · ‎04-09-2022

I find it ironic a pawn shop is complaining about how much money eBay is making off their customers. What do they charge when someone pawns their guitar?

this*old*attic · ‎04-09-2022

Mine charges 35%

Still way worse than 12%

onlinecentral · ‎04-09-2022

Sales tax has been not included recent on 1099-K's. In past years, when Paypal or Managed Payments did include sales tax, you deducted that on your Schedule C. It was pass through revenue, not income. You should file some amended returns to get a refund for overstating your profit.

The present total seller fees are almost identical to 2011.

farmalljr · ‎04-09-2022

I don't know whats the matter with people. Having a fit over 12%?! Do people expect it to be FREE to use this platform?

And from someone who has a pawn shop as a user name? No idea how business works, I guess?

dbfolks166mt · ‎04-10-2022

Sales tax has been not included recent on 1099-K's. In past years, when Paypal or Managed Payments did include sales tax, you deducted that on your Schedule C. It was pass through revenue, not income. You should file some amended returns to get a refund for overstating your profit.

The present total seller fees are almost identical to 2011.

I am not sure what you consider recent but I have been getting 1099's for the past 3 years from eBay, PayPal, Venmo, Stripe and several others and none have ever included the sales tax in the gross revenue. Prior to the Supreme Court decision in Wayfair vs. South Dakota in 2018 the seller was responsible for collecting and remitting sales tax but it was only for sales to buyers in their state.

fern*wood · ‎04-10-2022

Math never lies...but relies on the correct numbers being entered to be honest.

forward-motion · ‎04-10-2022

UNDERSTAND THIS TO LADIES AND GENTS THE SALES TAX IS LANDING ON YOUR 1099K AS INCOME

Quick fix, deduct it.

THIRTY DOLLARS ON TWO HUNDRED

Quick fix, sell it for $230.00

lacemaker3 · ‎04-10-2022

@dbfolks166mt wrote:
Sales tax has been not included recent on 1099-K's. In past years, when Paypal or Managed Payments did include sales tax, you deducted that on your Schedule C. It was pass through revenue, not income. You should file some amended returns to get a refund for overstating your profit.

The present total seller fees are almost identical to 2011.

I am not sure what you consider recent but I have been getting 1099's for the past 3 years from eBay, PayPal, Venmo, Stripe and several others and none have ever included the sales tax in the gross revenue. Prior to the Supreme Court decision in Wayfair vs. South Dakota in 2018 the seller was responsible for collecting and remitting sales tax but it was only for sales to buyers in their state.

@dbfolks166mt, you are correct as far as the sales tax that has been collected by eBay as a Marketplace Facilitator is concerned.

However, it was different for any sellers that collected sales tax themselves with payments processed by PayPal, because they had a nexus in their state of residence (and possibly others). When that sales tax was was included in the payment received by the seller (through PayPal) and sent to the appropriate state by the seller, then it was included in the 1099-K that was sent by PayPal.

dbfolks166mt · ‎04-10-2022

I remember those days quite well and while a lot of sellers complain about the fees on the sales tax eBay collects and remits to the states, counties and municipalities I am frankly glad to be relieved of that chore after the courts decision.