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Pay Pal Changes

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Message

Posts: 146
Joined: Feb 2020

Thursday, August 11, 2022 6:34 PM
https://www.theverge.com/2022/7/1/23191214/paypal-friends-and-family-payments-business-accounts

KMack

Posts: 560
Joined: Aug 2017

Thursday, August 11, 2022 6:56 PM
Imagine that.....

Bounty13

Posts: 737
Joined: Dec 2016

Thursday, August 11, 2022 7:01 PM

So people will have two PayPal accounts... one business and one personal. All F&F sales will go to personal, and if someone is truly running a business that needs to report taxes to IRS, they'll take non-F&F payments to their business account.

PayPal also owns Venmo, which also does bank-to-bank transfer. Are they changing their business model there too?

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danmarinocards.com
$ BUYING Marino I Need $

mzentko

Posts: 2,470
Joined: Jun 2012

Thursday, August 11, 2022 7:28 PM
sounds like a good thing that the minimum fee goes away but the percentage goes up slightly (for lower $ transactions like I do) mark

NachosGrande

Posts: 69
Joined: Jul 2019

Thursday, August 11, 2022 7:34 PM
As someone who likes to host cheap group breaks, getting rid of the minimum fee is actually a big improvement for me. ------------------------------- I run my own baseball card channel over on Discord (ask me and I'll happily send an channel invite to you). I run group breaks, contests, and giveaways on the Discord. I also write a baseball card blog over at Nachos Grande.

althib

Posts: 1,034
Joined: Jul 2019

Thursday, August 11, 2022 11:51 PM
Google pay? ------------------------------- SET BUILDER: Baseball ◉ Hockey ◉ Misc. Sports ◉ Non-Sport & Oddballs PC: Felipe Alou ◉ Derek Aucoin ◉ Steve Begin ◉ Jennifer Botterill ◉ Kevin Dineen L.D.T. ◉ Bob Kudelski ◉ Manon Rheaume ◉ Gabriela Sabatini ◉ P.J. Stock

ranfordfan

Posts: 4,975
Joined: Jun 2014

Friday, August 12, 2022 9:55 AM

As an honest business person who understnads the working of large corps making money I ALREADY have teo PayPal accounts for this specific reason. 99% of what goes through PayPal I will have to claim as income as I already have to use the information for both tax AND GST reasons. I don't see a big issue with it.

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"I shall do my best." - Ben Stein

https://www.ebay.com/usr/fpc2021

https://www.youtube.com/channel/UCn7sza8F5kxr3Sumem2OlLA

Twitter Account - @FrozenPenguinC1

Bolo_Mk_LX

Posts: 584
Joined: Jun 2016

Friday, August 12, 2022 1:30 PM
Guess my Tax Guy will have to clue me in on how to claim Postage, Packaging etc for my ebay sales.... He's done me right for about 10 years on the maintenaince etc for the small rental I have....

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