Paypal Goods and Services vs Friends and Family

[RingKing]

I have had the last three transaction on FB fail. Sellers will not take Goods and Services.

Fair warning to everyone if you send your money friends and family there is no way to get it back if something goes wrong.

Even if the guy you are working with has 100+ positive reviews accounts can get hacked. You don't know whom you are dealing with.

As for the IRS anything over 600 being taxed. If you are making $600+ on a cue more than you paid for it then you have a business that should be paying taxes.

 

[Black-Balled]

Thank god you typed that.

 

[ideologist]

I have had the last three transaction on FB fail. Sellers will not take Goods and Services.

Fair warning to everyone if you send your money friends and family there is no way to get it back if something goes wrong.

Even if the guy you are working with has 100+ positive reviews accounts can get hacked. You don't know whom you are dealing with.

As for the IRS anything over 600 being taxed. If you are making $600+ on a cue more than you paid for it then you have a business that should be paying taxes.

The problem is that most pool players don't keep receipts or have accountants. It will be an ugly tax season next year.

 

[bbb]

If the seller wont accept goods and services
buy from someone else
jmho
it might be negotiable who pays the extra 3-4%

 

[RingKing]

The problem is that most pool players don't keep receipts or have accountants. It will be an ugly tax season next year.

I dont think writing posthumous receipts if you know who you bought it from and amount is illegal.

For some reason this reminds me of the guys at the horse track picking up loosing tickets off the floor. You know they had a good night.

 

[jasonlaus]

I have had the last three transaction on FB fail. Sellers will not take Goods and Services.

Fair warning to everyone if you send your money friends and family there is no way to get it back if something goes wrong.

Even if the guy you are working with has 100+ positive reviews accounts can get hacked. You don't know whom you are dealing with.

As for the IRS anything over 600 being taxed. If you are making $600+ on a cue more than you paid for it then you have a business that should be paying taxes.

Im glad you think the govt is entitled to people's money

 

[RingKing]

Im glad you think the govt is entitled to people's money

Government Is not entitled. I do think it is a civic duty to pay taxes. We drive on the road, flush our toilets, still speak English, send our kids to schools, we have a lot of infrastructure that keeps our lives easy in this country.

 

[skip100]

Some rando you buy cues from on the internet is not a friend and not your famliy, so it seems like it should almost go without saying that it's a bad idea to pay them with the "friends and family" option that gives you no recourse if things go wrong.

 

[jazznpool]

Yes, it is advisable to only do FF Paypal with the most trusted sellers or someone you know well. And you must be careful not to make a typo as you will not get any help from Paypal. A friend recently lost $450 by making a typo and someone got a lot of free money! Zelle is the very best medium of exchange. No fees. Even Venmo is now trying to collect fees.

 

[RingKing]

Yes, it is advisable to only do FF Paypal with the most trusted sellers or someone you know well. And you must be careful not to make a typo as you will not get any help from Paypal. A friend recently lost $450 by making a typo and someone got a lot of free money! Zelle is the very best medium of exchange. No fees. Even Venmo is now trying to collect fees.

Do you have to link a bank account to get a zelle account?

 

[benny-the-blade]

Do you have to link a bank account to get a zelle account?

Yes.

 

[jasonlaus]

Government Is not entitled. I do think it is a civic duty to pay taxes. We drive on the road, flush our toilets, still speak English, send our kids to schools, we have a lot of infrastructure that keeps our lives easy in this country.

Flat tax and I have no problem

 

[jimmyco]

Even Venmo is now trying to collect fees.

Of course.

Paypal was 100% no fee when they started as well.

 

[ideologist]

Yes, it is advisable to only do FF Paypal with the most trusted sellers or someone you know well. And you must be careful not to make a typo as you will not get any help from Paypal. A friend recently lost $450 by making a typo and someone got a lot of free money! Zelle is the very best medium of exchange. No fees. Even Venmo is now trying to collect fees.

Zelle is subject to IRS reporting too

 

[CJH]

Government Is not entitled. I do think it is a civic duty to pay taxes. We drive on the road, flush our toilets, still speak English, send our kids to schools, we have a lot of infrastructure that keeps our lives easy in this country.

They don't spend our money keeping up roads and infrastructure. Hell, they are trying to pass a separate, record setting spending bill for that. The schools are disgraceful. An unforgivable disservice to more than one generation of Americans.

 

[jazznpool]

Do you have to link a bank account to get a zelle account?

Yes. I use it for my business and, of course pay state, federal and self employment taxes. Anyone selling personal items has no worries at all IMO. The laws were meant to squeeze flagrant tax cheats but I'm not sure it will accomplish that.

 

[JC]

Government Is not entitled. I do think it is a civic duty to pay taxes. We drive on the road, flush our toilets, still speak English, send our kids to schools, we have a lot of infrastructure that keeps our lives easy in this country.

What you list is taken care of with SALT for the most part, not federal taxes. Which is who is putting the squeeze on.

The federal government has so far over reached it's intended purpose that paying ransom to them has now approached immorality. FJB

 

[7stud]

Zelle is the very best medium of exchange. No fees.

But:

zelle® does not offer a protection program for any authorized payments made with zelle® - for example, if you make a purchase using zelle®, but you do not receive the item or the item is not as described or as you expected. https://www.zellepay.com/faq/im-unsure-about-using-zelle-pay-someone-i-dont-know-what-should-i-do

Zelle sounds like the equivalent of Paypal F&F.

 

[mikemosconi]

If the seller wont accept goods and services
buy from someone else
jmho
it might be negotiable who pays the extra 3-4%

OK- why should I pay the seller's selling expenses? That is a cost of doing business that every seller needs to understand and factor into their asking price without expecting a buyer to forego their legal rights in a transaction.
IMO- going forward- let ALL sellers factor in taxes, selling fees, shipping fees etc. into their asking price and then let them price accordingly as ONE number.
Buyers should then make their own decision on whether they want to make an offer on a cue or not. Buyer should ALWAYS be afforded the opportunity to protect their legal rights under Payment system/credit laws/shipping laws and the sellers should respect this and just price upfront with ALL costs considered.

All of this B.S. of asking buyers to take the risk OR pay extra does fly with me anymore. I was naive in my first few custom cue purchases here on AZ and took the risk, just not to pay extra- fortunately there were no issues in my purchases- NEVER doing the again.
give me one asking price up front, or don't even mention F&F, or I just don't buy from you- period!

 

[Thecoats]

When I sell a cue I just factor in the shipping and PP fees, I prefer to be paid G&S from anyone that is not what I consider a trusted friend. There are several here that I have bought and sold many cues with over the last two decades and we use F&F, all others it's G&S or no deal with me. Also, I have had sellers not want to accept G&S with me offering to pay the fees, I just said thanks anyway and moved on to the next one.