Question - Receiving Funds for parts sold

[440WB]

Hello - general question

I've been out of the loop for a couple years -
selling some parts - in receiving payment -
is paypal still good - safe ?
upsp postal ?
I know they charge 3 - 4%



your help is appreciated -

-

[Mopsquad]

I use Paypal primarily for online sales.  I haven't had any issues lately.  You can factor the 3% in to your price if you like. 

I don't take checks or money orders. 

[Mr Cuda]

 I shared  on that other forum , that no one is an island, socially.  Cudahunter,  who I've never met thought that was an excellent assessment.  The average age of mopar enthusiasts is getting older, and hopefully more responsible.
Trust in payment  when buying parts gets easier when the circle of contacts can be confirmed through other members.
  Fees and now taxes are becoming a bigger part of selling costs, so I am requesting checks, and waiting for them to clear or PayPal friends and family.   Of course,  that's when selling.

[440WB]

I use Paypal primarily for online sales.  I haven't had any issues lately.  You can factor the 3% in to your price if you like. 

I don't take checks or money orders.

so not much has changed and Paypal is still good then - cool

I've been sorting out some parts to sell and will be listing more soon.

Thank you!

[JH27N0B]

If you use PayPal and your total received for all sales in the course of a year exceeds $600, you will now get a 1099 from PayPal in the mail in January you'll need to figure out what to do with when you file your taxes. Only way around that us to ask for Friends and Family in which case the buyer gives up his protection.
Too much hassle for me between payments, fees and shipping issues nowadays, I am hesitant to sell anything anymore except in person for cash. I wish I had sold more in the "good old days", but I guess my excess stuff can just take up space in my house or get thrown away someday.

[440WB]

I shared  on that other forum , that no one is an island, socially.  Cudahunter,  who I've never met thought that was an excellent assessment.  The average age of mopar enthusiasts is getting older, and hopefully more responsible.
Trust in payment  when buying parts gets easier when the circle of contacts can be confirmed through other members.
  Fees and now taxes are becoming a bigger part of selling costs, so I am requesting checks, and waiting for them to clear or PayPal friends and family.   Of course,  that's when selling.

I agree with Cudahunter !
He is a good guy - we go back a few years!

I always claim sales on my tax's
I figure the fees in the price

Trust is a VIable thing
It grows with the new experience's 

[70 Challenger Lover]

I stopped selling simply because of the tax thing. I don't care to do extra tax work itemizing costs trying to lower my tax liability.

Do PayPal friends and family if you do sell.

I'm saving up parts to sell at a future swap someday....cash only

[440WB]

If you use PayPal and your total received for all sales in the course of a year exceeds $600, you will now get a 1099 from PayPal in the mail in January you'll need to figure out what to do with when you file your taxes. Only way around that us to ask for Friends and Family in which case the buyer gives up his protection.
Too much hassle for me between payments, fees and shipping issues nowadays, I am hesitant to sell anything anymore except in person for cash. I wish I had sold more in the "good old days", but I guess my excess stuff can just take up space in my house or get thrown away someday.

I think Michigan was one the first to start that with internet sales a few years ago.

I've heard somewhere that you have no protection from paypal if using friends for payment 

believe it or not -
sales claimed really don't add up to much when claimed -
at least for me in my case. 

[Mr Cuda]

So 440WB. See how you have just verified yourself by knowing cudahunter?   Provided he agrees !
So selling that radio, any buyer should be  ok sending you a  check or friends and family.
Problems start with  low post counts and expensive parts.

[70vert]

I don't mind taking a check, it is the buyer that has to wait for it to come in the mail, clear the bank, then I ship. It is probably the safest way and does not get "tracked", just a longer process.

Speaking of tracking I've heard the PayPal 1099 statement story many times but not seeing it. Both my wife and I sold over $600
(each) last year and neither got any tax statement. Maybe they just haven't started yet. I don't think many buyers would go for friends&family as there is no protection for them if they don't get their stuff, I know I would not for buying.

[Mr Cuda]

New  for 2022 tax year. PayPal  and Ebay,  etsy, 
Plus banking transactions are being tracked
Question is will Ebay and PayPal  double up and cause  problems.

[70 Challenger Lover]

eBay already sent me a notice stating that I will receive a 1099 if I sell more than $600. So I stopped selling at $500.

I've spoken with a few old timers out here in Tennessee when making local purchases and they're not happy. They claim they struggle to make ends meet as it is and feel it's not right to have to pay taxes on odd used crap they have around.

Typical government, they talk big about looking out for the little guys but then they create stuff like this that ONLY hurts the little guys. Rich people don't sell on Marketplace and FB groups. Those of us in the middle don't rely on selling crap to get by so we just stop selling completely.

[440WB]

So 440WB. See how you have just verified yourself by knowing cudahunter?   Provided he agrees !
So selling that radio, any buyer should be  ok sending you a  check or friends and family.
Problems start with  low post counts and expensive parts.

MR CUDA - so your asking about my credibility ?   
go ahead and check with him - Please !

I have been a mopar guy for over 25 years on the Forums
with many members - friends of buying and selling with advice over the years ---

to prove some points - Im the guy who in the past have sent many
parts to people with out payment of any kind  - sometimes asking very little $ in helping...

I get it - your may be thinking my low stat and low activity might mean something/ someone with no trust possibly ?

question for you is - without no offence 

why do you see my EMAIL and Location in my profile ---

my email has always been the same since the Internet has started

my phone number has been the same and is available when asked
( which I always prefer with larger purchase's )







 

[Jay Bee]

When I sell or buy from fellow Canadians the transaction is through an e-transfer between banks. The buyer pays whatever minor fees there are so the seller gets the full price. That might be an option between 2 Americans. I think I need an American account to be able to e-transfer with the US.

[440WB]

When I sell or buy from fellow Canadians the transaction is through an e-transfer between banks. The buyer pays whatever minor fees there are so the seller gets the full price. That might be an option between 2 Americans. I think I need an American account to be able to e-transfer with the US.

Interesting - I have done this with vehicles many times - ( would transfer bank to bank )
something to consider for some of these smaller items say over $500?
could be less expensive too -