- Joined
- Dec 24, 2011
- Messages
- 1,275
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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.