ebay + paypal taxes will cripple/eliminate small time sellers

get ready for the end of small business peeps in ebay and paypal.


get this. a revision was put in place for "the american rescue plan act" to tax the shit out of small sellers/businesses. yes, you read the correctly. it's being called a rescue plan. the democrats are so awesome with their language and stuffing shady shit into their bills, aren't they.


i touched on this a few months ago, but i don't think many people realize how devastating this is going to be in people selling things + making gas type money in the process.


right now and until the end of the years almost every state allows for 200 transactions/$2000.oo..but come jan1 it drops to $600.oo and any amount over that will need to be reported and filed. both ebay and/or paypal will send you a 1099 so it will be unavoidable if using their services.


these small time ebay sellers aren't gonna open up an llc or a business type account to offset the taxes with expenses and other write offs.. they're gonna get fucked. even if it is a hobby the law basically calls you a buisness. more than likely users will stop selling unless they find a work around. but not until they can see the hit with their eyes/wallet after it happens once.


ebay merchants will get fucked as well as they'll have to pay fica as an owner operator..lol


it's get better. it's entirely possible the amount of taxes that have to be paid is greater than the money collected or made. that or close enough for you to spend countless hours just to break even after paying uncle sam. you can get hammered up to 30% ..and will still won't know the effect of the new capital gains tax as well.

YOU...john Q is paying for all the reckless pork barrel spending the biden administration is doing...

in other news the house just voted and passed 213-212 to beef up the capital security for another cool $1.9b..don't worry. if you don't make 400k you won't pay any more taxes....lol.

thank you viking man






https://en.wikipedia.org/wiki/Americ...an_Act_of_2021