Buying on the For Sale forum. Friends and Family and sweeping paranoia
- Thread starter StuartTKelley
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boogieman
It don't mean a thing if it ain't got that ping.
I'll either pay for escrow or the fee associated with goods and services. Nothing against you personally but business is business. I'm not sending money out with no recourse. Imagine paying several hundred dollars for a cue then never getting it, with no recourse through paypal. Buyer BEWARE if anyone who isn't friends or family asks for it. This isn't a slight against the seller's honor or anything, this is how to not get scammed 101.
boogieman
It don't mean a thing if it ain't got that ping.
It's difficult for an honest person to understand. You're honest but not everyone is. That said, I don't know you from Adam. A first time purchase with you... no way would I do friends and family. If you take credit cards I could do that since it does offer some recourse if a seller is less than honest. Again, not saying you personally but there are a lot of scams out there. Gotta protect yourself even if it butthurts someone else.I've never done that and sold a ton of cues, fishing reels, rods, baits, other items. Not once have I ever sent anything and waited for a buyer to inspect an item before I get payment. Again, hilarious. I have never paid for anything and been scammed either. It's called faith and vetting who you deal with. I have no problem sending f&f to someone who has good feedback and is known. Never been burned
Same for me.I've never done that and sold a ton of cues, fishing reels, rods, baits, other items. Not once have I ever sent anything and waited for a buyer to inspect an item before I get payment. Again, hilarious. I have never paid for anything and been scammed either. It's called faith and vetting who you deal with. I have no problem sending f&f to someone who has good feedback and is known. Never been burned
If you really require F&F, I'm not doing business with you. Not a chance.
The fact you want to bypass the G&S fee, and want to use PayPal services for free, tells me something about your character.
The fact you want to bypass the G&S fee, and want to use PayPal services for free, tells me something about your character.
Maybe I am incorrect but taking a chance on a friends and family thing with new member, or person with few transactions is not bright.
Would you go to Florida as novice with no snake rambler experience, and try and capture 6-7 foot Eastern Diamondback with just hands, prayers, and pillow case?
If this makes go sense to you go play snake rangler.
.
Enjoy the near death experience, after you get bit, if you live.
Think paying PalPal is like insurance you wish you had when uninsured, and need insurance after the fact. It NSF post need.
Would you go to Florida as novice with no snake rambler experience, and try and capture 6-7 foot Eastern Diamondback with just hands, prayers, and pillow case?
If this makes go sense to you go play snake rangler.
. Enjoy the near death experience, after you get bit, if you live.
Think paying PalPal is like insurance you wish you had when uninsured, and need insurance after the fact. It NSF post need.
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There are a handful of people here I would send a cue upfront. I know what I’m sending and I know they would like what they got. Otherwise payment before shipping. Me personally would not accept returns. Would want PP G&S. PP is a business… pay them the modest fee for services rendered.
They do it with first few times goods and services on some accounts.
Not sure if it’s standard or there’s an algorithm. I have held funds sent goods and services held for a week or two, to allow for shipping. It’s annoying, but oh well.
PayPal is providing a service and insuring the purchase of an item when using G&S. They have every right to hold the money as it’s in their terms of service we all agreed to. I’m sure they’ve had enough issues with scammers cashing out the balance and then PayPal is stuck with the bill. So in many cases they hold the cash so that doesn’t happen.
Policies like this aren’t in place to punish the good people. It’s to protect their company from the bad.
If it’s a problem, then don’t use PP G&S.
Waste of time for the OP to even make a thread about it. It’s well within the TOS he agreed to when he made the PP account.
First of all, The Govt. changed all the ruled this year in terms of taxing internet payments. What was once $20,000 in internet income has been reduced to only $600 in internet income that pay Pal, e bay, etc, WILL now report in 2022 to the IRS on any goods and services pay pal transaction, once you reach $600 revenue in a given year This was buried in the Democrtats American "rescue" package which passed this year.
So- if you sell a cue for, say $1200 and accept Pay Pal Goods and Services- you will receive a 1099-K from Pay Pal next January - it will require an additional tax form on your return to claim the income and you will owe taxes - up to 35% based on your income tax bracket, on the profit from that sale- BTW- if you do not have a receipt for YOUR original purchase of that cue, the entire $1200 is considered profit and you owe tax on the entire amount from Pay Pal. If you can prove a loss on the sale or a smaller profit- you will need original purchase receipts on the cue.
Therefore, Pay Pal F&F now takes on a whole new meaning- those transactions are Not reported to the IRS- each seller needs to weigh their own tax situation in evaluating cue sale payment terms due to this new IRS ruling for 2022.
Here is a practical example- I own a cue worth $2000, I sell it here and accept Pay Pal G&S for $2000- I bought it 10 years ago in a pool room off a guy for $800. I obviously have no receipt form that transaction. I accept Pay Pal goods and services- all goes well and the new owner loves the cue! My 1099K from Pay Pal and my 25% tax bracket yields $500 that I owe the IRS come tax time on that one sale.
Thus is the new reality folks- I was always against Pay Pal F&F- but times are a changing!
So- if you sell a cue for, say $1200 and accept Pay Pal Goods and Services- you will receive a 1099-K from Pay Pal next January - it will require an additional tax form on your return to claim the income and you will owe taxes - up to 35% based on your income tax bracket, on the profit from that sale- BTW- if you do not have a receipt for YOUR original purchase of that cue, the entire $1200 is considered profit and you owe tax on the entire amount from Pay Pal. If you can prove a loss on the sale or a smaller profit- you will need original purchase receipts on the cue.
Therefore, Pay Pal F&F now takes on a whole new meaning- those transactions are Not reported to the IRS- each seller needs to weigh their own tax situation in evaluating cue sale payment terms due to this new IRS ruling for 2022.
Here is a practical example- I own a cue worth $2000, I sell it here and accept Pay Pal G&S for $2000- I bought it 10 years ago in a pool room off a guy for $800. I obviously have no receipt form that transaction. I accept Pay Pal goods and services- all goes well and the new owner loves the cue! My 1099K from Pay Pal and my 25% tax bracket yields $500 that I owe the IRS come tax time on that one sale.
Thus is the new reality folks- I was always against Pay Pal F&F- but times are a changing!
I'm not newMaybe I am incorrect but taking a chance on a friends and family thing with new member, or person with few transactions is not bright.
Would you go to Florida as novice with no snake rambler experience, and try and capture 6-7 foot Eastern Diamondback with just hands, prayers, and pillow case?
If this makes go sense to you go play snake rangler.
Enjoy the near death experience, after you get bit, if you live.
Think paying PalPal is like insurance you wish you had when uninsured, and need insurance after the fact. It NSF post need.
Me either, we had someone recently who was offering Tad.
Low price.
Too many REDFLAGS.
I have bought a couple good cues off ebay and one from this website but my biggest concern selling a cue is it will turn into one of the epic meltdown transactions from someone who for whatever reason doesn't want the cue. Maybe his wife barked at him. Maybe he is short on cash. Maybe he is a con man.
I have a Woodworth and an old Schon I'd love to sell because I can't play with a cue with a wrap now due to a problem with my fingertips but I hesitate to post them here. The Schon has some ivory so that's another issue. I'd rather sell for less in person so the buyer examines the cue and hands me cash. Everybody walks away happy.
I have a Woodworth and an old Schon I'd love to sell because I can't play with a cue with a wrap now due to a problem with my fingertips but I hesitate to post them here. The Schon has some ivory so that's another issue. I'd rather sell for less in person so the buyer examines the cue and hands me cash. Everybody walks away happy.
Haha. Wow. Because I'm not honoring PayPal? Do you know how much money they've made off of me over the years? No you don't. I've had loads of g&s and f&f payments over the last 10 or more years. The newer PayPal account has been verified by PayPal and I received correspondence saying I was ,after the amount of transactions, a verified seller. Since that time, I've had 1 g&s payment with no hold. The last two, out of the blue and for no reason they decided to hold..one I called on and they released it. The last one, they refused to release. They're account overlords basically and seemingly just do what they want with your money when and how they please for no justifiable reason. I'm not sure on this thread how so many reading keep missing that I have 100% rating everywhere I sell. Zero,yes Zero negative feedback or transactions. So again, why would have pause to buy from someone with a perfect record? Just because you want it YOUR way? That says a lot about your character. Once you buy something or commit to buy you should also be willing to part with your money and not expect to get to play God with someone's item because oh, well that's part of Paypals policy. NEVER going to happen with me so ok. No buyer will ever dictate how my item is paid for or how the transaction will go. You want it. Buy it. All I can say is if you buy from me , you get good communication, you get what's promised, you get a good deal, you get fast shipping with a pic of the tracking receipt. You get the transaction you hope for and you wish all could be that good. If that's not what you're after then by all means, buy something from someone else.
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boogieman
It don't mean a thing if it ain't got that ping.
You do realize that if you don't want to use their service that you can accept credit cards or cashier's checks on your own right? At first I gave you the benefit of the doubt. Now I see you as a scammer who is trying to defraud paypal. You wouldn't fill up your car with gas and drive off without paying would you? Why should paypal provide you a service for nothing?
Don't like paypal fees... set yourself up to take credit cards. It's very simple. Don't be surprised when the CC companies charge you a fee too, because they do. Stop being cheap and complaining about the regular cost of business. It's pathetic. It really is. Maybe set up a gofundme and we can all chip in a few pennies to buy some 2 ply for your cheap ass.
And guys like this call the younger generations entitled...
Well, I might have agreed with you prior to this year- I, too, always considered Pay pal fees as a cost of doing business that the seller should absorb. But, now, with the new IRS rules, if the seller cannot prove his original cost of an item with original receipts, the FULL selling price of any cue where the seller has $600 or more in TOTAL Pay Pal G&S sales in 2022; will be taxed at the sellers federal income tax bracket- Pay Pal must report to the IRS and you cannot avoid reporting the sale amounts on your Fed and State income tax returns- for some, they could owe 35% of that cue sale to their combined state and Fed income tax collectors.
I urge anyone contemplating a sale of their more expensive cues to go back and find any original purchase receipts that you may have for those cues, or go back to your Pay Pal history e bay history, if you bought them via any internet service and print out those Pay Pal purchase transactions, including the cue descriptions from the internet site where you purchased the cues.
It may be a pain to do this, but, again, unless the buyer will pay you via cash, Pay Pal F&F, or you risk a check transaction, you will be stuck with Fed and state income tax liability on your cue sales TOTAL dollar revenue. You must have receipts of your original purchase to claim a loss, a wash sale, or a smaller profit on your cue sales.
Well if you suspect a scam seller on AZB let AZHOUSEPRO know.
That is how the TAD scammer got booted.
Price was too low, serial number was bogus, had to be a scam.
Mike will police, but he need be informed to do his job.
That is how the TAD scammer got booted.
Price was too low, serial number was bogus, had to be a scam.
Mike will police, but he need be informed to do his job.
boogieman
It don't mean a thing if it ain't got that ping.
So no problem paying paypal fees but tax fraud is A.O.K. in your book? WTF happened to the morals in this country?
Render unto Caesar.
outrider1
Registered
I've been with PayPal over 20 years ago as a buyer and seller. You have absolutely no protection if you go with friends and family. Period. But goods and services provide protection to both parties. I've never had my money held on my sales. Maybe he should upgrade his account, I recall I had to when I sold a MO-11 for 3 thousand in '97. But I don't remember the word for it was. Maybe dealers status. It's more than worth the 4% charge IMO.
The tangle with taxes does put a new aspect on the situation. Most of us that have owned something for years have no way to prove what we paid for it. I couldn't prove what I paid for dozens of vehicles even.
With the new regulations I think I would just avoid accepting Paypal. I have volunteered to pay the three percent or whatever to pay goods and services instead of friends and family when people wanted friends and family. In the past I considered it a major red flag if somebody insisted on friends and family when I was willing to pay for goods and services. It was the decider that killed more than one deal. In thirty years or so on the net I have been cheated by sellers twice, both times for chump change. A couple more honest mistakes people made good, including a seventeen hundred dollar purchase with another seven hundred in shipping, an old Bridgeport J-Head milling machine.
I realize that most people don't give it any thought that they are defrauding Paypal when they purchase friends and family so I don't think that automatically makes someone a bad person. I have used friends and family to legitimately move some pretty large sums back and forth and I appreciated not paying some fair sized chunks by using friends and family. In fairness, I pay goods and services on purchases and sales.
Games can be played and cleared funds aren't always cleared! I sold a lot, got a $28,000 cashiers check. Cool, I happened to do my banking with another branch of the same bank less than fifty miles away. I walked in and tried to cash the check the next day to have play money around. It took almost a month for their own cashier's check to clear and they wouldn't give me cash for it until then!
For those making pretty large buys and sales, you can have and spent the money weeks before and your bank still charge the funds back to your account! When a check clears in a few days it is usually a provisional clearance, it may take two to six weeks for final clearance.
I don't think people are trying to dodge legitimate taxes as much as objecting to paying taxes they don't owe. I have sold things for low tens of thousands where the sale represented a net loss. No tax owed but no proof of that either. After losing thousands on the deal my bottom would have felt very raw if I had to pay taxes on the full sale price too!
Aside from anything else, taxes, particularly income taxes, can seem like a game. One example commercial property. While mine was appreciating in value every year I was completely legally depreciating it on my income taxes. When I was working for other people sometimes the depreciation on my commercial property left me owing no taxes. It used to be possible to legally move profits and losses back and forth from year to year too. I had a very nice year in the early seventies. Gave my tax papers to a retired IRS agent who had a service now. She had been to court 22 times with the IRS, won every time. She told me I had made $3000 that year. "Ma'am, I made more than that in December!" "Legally you owe taxes on $3000." That was a legal return that still had me sweating for a few years!
Honesty and honor can be different for different people and all consider themselves honest and honorable people. The funny thing is they can all be right.
Funny old world!(but I still ain't buying using friends and family)
Hu
With the new regulations I think I would just avoid accepting Paypal. I have volunteered to pay the three percent or whatever to pay goods and services instead of friends and family when people wanted friends and family. In the past I considered it a major red flag if somebody insisted on friends and family when I was willing to pay for goods and services. It was the decider that killed more than one deal. In thirty years or so on the net I have been cheated by sellers twice, both times for chump change. A couple more honest mistakes people made good, including a seventeen hundred dollar purchase with another seven hundred in shipping, an old Bridgeport J-Head milling machine.
I realize that most people don't give it any thought that they are defrauding Paypal when they purchase friends and family so I don't think that automatically makes someone a bad person. I have used friends and family to legitimately move some pretty large sums back and forth and I appreciated not paying some fair sized chunks by using friends and family. In fairness, I pay goods and services on purchases and sales.
Games can be played and cleared funds aren't always cleared! I sold a lot, got a $28,000 cashiers check. Cool, I happened to do my banking with another branch of the same bank less than fifty miles away. I walked in and tried to cash the check the next day to have play money around. It took almost a month for their own cashier's check to clear and they wouldn't give me cash for it until then!
For those making pretty large buys and sales, you can have and spent the money weeks before and your bank still charge the funds back to your account! When a check clears in a few days it is usually a provisional clearance, it may take two to six weeks for final clearance.
I don't think people are trying to dodge legitimate taxes as much as objecting to paying taxes they don't owe. I have sold things for low tens of thousands where the sale represented a net loss. No tax owed but no proof of that either. After losing thousands on the deal my bottom would have felt very raw if I had to pay taxes on the full sale price too!
Aside from anything else, taxes, particularly income taxes, can seem like a game. One example commercial property. While mine was appreciating in value every year I was completely legally depreciating it on my income taxes. When I was working for other people sometimes the depreciation on my commercial property left me owing no taxes. It used to be possible to legally move profits and losses back and forth from year to year too. I had a very nice year in the early seventies. Gave my tax papers to a retired IRS agent who had a service now. She had been to court 22 times with the IRS, won every time. She told me I had made $3000 that year. "Ma'am, I made more than that in December!" "Legally you owe taxes on $3000." That was a legal return that still had me sweating for a few years!
Honesty and honor can be different for different people and all consider themselves honest and honorable people. The funny thing is they can all be right.
Funny old world!(but I still ain't buying using friends and family)
Hu