The End of Auction Sites for the Little Guy?

[fishhawk2700]

I'm retired and to supplement my ML addiction, I buy and sell a lot of MLs and ML parts. I sell here on MM but a lot of my sales are on Ebay and a couple of other auction sites. Well, due to some new federal laws my little business will be over. To now sell on Ebay you must have checking account attached to a Soc.Sec. number. This means that Uncle Sam will know exactly how much you are selling on Ebay and sites like it, and tax you accordingly. Add to this, Ebays rates have gotten out of control (12.5%) Now using Ebay as an example. If I sell 3000 worth of product, that 3000 will be added to my last dollar of income which means I will be paying 24% income tax, now add the 12.5 Ebay fee. Yep, I will be paying 36.5% to sell on Ebay. Uncle Sam HAS TO HAVE a part of my 3000 but a company Like Amazon paid ZERO net taxes last year. GunBroker is moving towards the same thing( GunBroker Pay ). I haven't researched these new laws because it's pointless, they're here and there is nothing I can do about it. I will still sell some stuff here just to clear my shelves. then I'm done.

 

[Ninering62]

I'm retired and to supplement my ML addiction, I buy and sell a lot of MLs and ML parts. I sell here on MM but a lot of my sales are on Ebay and a couple of other auction sites. Well, due to some new federal laws my little business will be over. To now sell on Ebay you must have checking account attached to a Soc.Sec. number. This means that Uncle Sam will know exactly how much you are selling on Ebay and sites like it, and tax you accordingly. Add to this, Ebays rates have gotten out of control (12.5%) Now using Ebay as an example. If I sell 3000 worth of product, that 3000 will be added to my last dollar of income which means I will be paying 24% income tax, now add the 12.5 Ebay fee. Yep, I will be paying 36.5% to sell on Ebay. Uncle Sam HAS TO HAVE a part of my 3000 but a company Like Amazon paid ZERO net taxes last year. GunBroker is moving towards the same thing( GunBroker Pay ). I haven't researched these new laws because it's pointless, they're here and there is nothing I can do about it. I will still sell some stuff here just to clear my shelves. then I'm done.

I'm sorry to hear that bud, Thats a dang shame. We cant stand by & continue to let crap like that to take place. Best wishes man

 

[michiganmuzzy]

I fortunately havent sold anything on ebay in a couple months. I was a little po'd when i saw their notice about 1099ing me. Selling ML related stuff on marketplace isnt allowed. Armslist acct costs money now and will probably be doing the same thing soon. 24hr campfire is just a pita. Gotta find another place.

 

[Scotts98rt]

Same here, ebay first said I have til end of Feb. To provide ssn and bank act number , then it changed to the 11th of February. Guess what they can ? Lmao.

 

[Bad Karma]

They are firmly entrenched. They being our government, political “representatives”, the Tech giants. And all of them working, if not in concert, at least with similar end goals.

“I for one welcome our new benevolent overlords...”

 

[sdporter]

Miss the good old days when you could just phone up the nickel adds and sell a gun or whatever you wanted

 

[sam-arkie]

I have a good friend who owns and runs a very big flea market. He sells and also rents out booths for others to sell. He said in the last few years he had to issue 1099's to everyone that sells through his establishment and everyone he buys from. He also said he has at least a couple of undercover tax investigators come into his place and try to sell him stuff "off the books" for cash to try and catch him not keeping records. He also gets audited every year by the IRS and the state. He allowed every full time flea market he knows of is getting the same treatment. He has to documents every item and every sale, no matter how small.

 

[Bad Karma]

Miss the good old days when you could just phone up the nickel adds and sell a gun or whatever you wanted

When Colorado closed the “gunshow loophole” (don’t get me started...) it destroyed the thrifty nickel on the western slope. Every week there were several hundred advertisements between individuals buying and selling... Think about all that untaxed, unregulated economic activity. Must have driven the central planning, consumer regulating bureaucracy crazy to think about it. So, they did something about it. Under the thumb it went...

 

[michiganmuzzy]

Face to face and cash or trade only has worked well for me before ebay. So I'll go back to it now. The boot gets placed on our throats whether the white house and congress is blue or red. The harder they try to regulate and tax me the farther underground i will go. one of my favorite things about MLs is the lax tracking of them once they leave a store.

 

[sdporter]

Yeah, they’re becoming (the Govt) the same tyrants we broke away from in the 1700’s, only worse I think.

 

[Idaholewis]

Here in Idaho you can stil Buy & Sell a Gun in a Garage Sale if you like?

 

[10ring1]

I have not used Gunbroker pay yet. I am sure it will be the only option at some point and we will be forced to use it...GB started charging sales tax on sales for a handful of states, and I certain the rest will follow soon. Thank goodness for sites like this as we can still sell some of our personal items with being taxed again.

 

[HandyAndy]

The 1099K law was signed by George W Bush (R) in 2008. It's not a problem for the little guy. $20,000 in sales or 200 transactions.

What Ebay is doing now is requiring sellers to link their bank accounts, so buyers can directly pay them through Ebay's system. Ebay has sold PayPal and isn't using them as their exclusive means of funds transfer.

In 1909 William H Taft (R) proposed the modern income tax which became law. Every state in the US has adopted a use tax law that requires buyers to pay sales tax for out of state purchases. Enforcement was voluntary, so most never paid.

South Dakota v Wayfair Inc. was the nail in the coffin that forced all online sellers to collect sales tax.

The real problem is abuse of the commerce clause due to the disastrous Wickard vs Filburn ruling.

 

[GM54-120]

ATM i dont see this as political and i hope it stays that way. Good info here guys need to know about places like Ebay, PayPal and GB.

 

[fishhawk2700]

Face to face and cash or trade only has worked well for me before ebay. So I'll go back to it now. The boot gets placed on our throats whether the white house and congress is blue or red. The harder they try to regulate and tax me the farther underground i will go. one of my favorite things about MLs is the lax tracking of them once they leave a store.

FTF works well for some things. With me I need to expose my ML parts to a broader customer base. I can sell only so many barrels, stocks, optics here on MM. Armslist can be a scary place and most don't want to mess with shipping. I can set up a LLC, but then all the paperwork is a PITA and in the end you still have to pay an accountant and then taxes.

The 1099K law was signed by George W Bush (R) in 2008. It's not a problem for the little guy. $20,000 in sales or 200 transactions.

What Ebay is doing now is requiring sellers to link their bank accounts, so buyers can directly pay them through Ebay's system. Ebay has sold PayPal and isn't using them as their exclusive means of funds transfer.

In 1909 William H Taft (R) proposed the modern income tax which became law. Every state in the US has adopted a use tax law that requires buyers to pay sales tax for out of state purchases. Enforcement was voluntary, so most never paid.

South Dakota v Wayfair Inc. was the nail in the coffin that forced all online sellers to collect sales tax.

The real problem is abuse of the commerce clause due to the disastrous Wickard vs Filburn ruling.

I knew about the 1099 law but when an auction site requires a SS # to be attached to your account a 1099 can be issued. Just call me paranoid.

 

[HandyAndy]

Sounds like you'll just have to weigh the benefits and costs to do business on Ebay.

Times are rapidly changing and the days of anonymous buying and selling anything are just about over. Cash doesn't have much of a future either, as more and more places will refuse to accept it or charge a fee. They'll always be a small untaxed black market, but it will be barter based. Death and taxes...

 

[improman]

[/QUO the iternet has ruined everything...antique market ...and ammo market ...then theres people that cut up guns for ebay ..erasing history because they want a few bucks.WE ARNT DUMB. i see you on the other auction sights buying to chop up the guns for parts...END THE INTERNET..END ALL AMMO SALES.SUCKS BUT PROFITEERS HAVE SCREWED THE INTERNET SALES INTO THE GROUND.ANY WITH credit card can buy ammo if there 21...they buy and fill up there cupboards and dont shoot or then I SEE THEM RE-SELLING IT ON AUCTION SIGHTS TO MAKE A GAIN FINANCIALLY... ...i CAUGHT ONE FROM TOWN DOING IT WITH 22 AMMO YEARS AGO when 22 shells were non-existant...ALL BECAUSE he was re-selling and he was in wally world every morning when i went there to pick up my wife...i SHAMED HIM...PLUS HE HAD A JOHM KERRY BUMPER STICKER A ANTI GUN POLITICIAN ON HIS CAR.DONT COME HERE LOOKING FOR SIMPANTHY YOUR THE PROBL;EM

 

[GM54-120]

DONT COME HERE LOOKING FOR SIMPANTHY YOUR THE PROBL;EM

Let me see if i got this right. You just told a guy that has been a member here for at least 9 years not to post about a Ebay selling issue? Sorry but you are a bit difficult to read with all the typos. So i want to make sure im understanding this correctly.

 

[CatamountRob]

Everyone is certainly entitled to their opinion but people have been turning guns into gun parts for about as long as there have been guns. Nurmrich Arms for example. Once a gun is out of production it’s often the only way to acquire parts. One gun gets torn apart and somewhere else another gets put back together.

 

[ENCORE50A]

And............. we're about to watch another one go their way.........................