$50MM/250K Sales Recorded!

Official Expresso Beans Art News.

Postby 29monkeys on Tue Jun 12, 2012 3:03 am

:clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
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Postby relentlesskevin on Tue Jun 12, 2012 8:11 am

tomdon wrote:You don't have to report on taxes 'til you flip 200 items or 20,000 dollars on EBay. Now you know.

http://reviews.ebay.com/2012-IRS-TAX-LI ... 0131804104


Paypal will be automatically submitting statements to the IRS, so it is your responsibility to declare the income at the end of the year. I also heard that they will be submitting statements over $5k or more... not sure if you need to declare anything under $20k... yet...
But i wonder how much Paypal submits as revenue for the millions they make in interest off of everyone's cash that in their account and the money they have on hold for transactions.
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Postby acidburn on Wed Jun 13, 2012 10:13 am

tomdon wrote:You don't have to report on taxes 'til you flip 200 items or 20,000 dollars on EBay. Now you know.

http://reviews.ebay.com/2012-IRS-TAX-LI ... 0131804104


yea i got hit with the paypal tax return last year. Included my website sales and ebay sales...pretty nuts to see it for the first time since using Paypal in 2000.
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Postby Wawaad on Thu Jun 14, 2012 2:01 pm

acidburn wrote:
tomdon wrote:You don't have to report on taxes 'til you flip 200 items or 20,000 dollars on EBay. Now you know.

http://reviews.ebay.com/2012-IRS-TAX-LI ... 0131804104


yea i got hit with the paypal tax return last year. Included my website sales and ebay sales...pretty nuts to see it for the first time since using Paypal in 2000.


I have a question about this if any one can help,

if I switch payments to my partners's paypal account before I hit the 20,000 mark. will i still get taxed? or will I have to creat a new ebay account for him altogether to avoid the tax?
as in, is ebay the one reporting on its sales or more of paypal is the one reporting?
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Postby Yamar on Thu Jun 14, 2012 2:09 pm

eBay and paypal are the same company (or more accurately, Paypal is owned by eBay). Some segments of their businesses are separate, but on this I think they're working together.

I think the "issue" for you might be that if you're married, the two will be combined on your tax return(s). If you're really considering this, I'd search out an accountant who might know the "real" answer for you...
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Postby jimmybobo1 on Thu Jun 14, 2012 2:14 pm

Unless they file seperate I would assume.
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Postby cberk533 on Sat Jun 16, 2012 10:37 pm

That is amazing! Shows just how cool EB is thanks to everyone that works on EB for providing an incredible forum to chat, trade and sell.
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Postby MEARONE227 on Thu Jan 31, 2013 2:44 pm

rock on, congrats...
:pint: :clap: :pint: :clap:
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Postby lsmith55 on Thu Jan 31, 2013 10:49 pm

Pretty cool EB! :clap: :notworthy:
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Postby seeker1115 on Fri Feb 01, 2013 4:29 pm

Guys, this news is from 2009. It's over three years old.
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Postby lsmith55 on Sat Feb 02, 2013 12:29 am

Then we need an updated total! :shock:
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Postby dougr on Sat Feb 02, 2013 1:53 am

lsmith55 wrote:Then we need an updated total! :shock:

2013 should bring some more milestones ;)
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The information contained in this post does not necessarily reflect the opinion of Expressobeans.com (EB) and shall not be held to limit the rights of EB under the Fair Use Doctrine or any other federal, state, or local law which may be applicable.

Postby But-we-unleashed-a-lion on Sat Feb 02, 2013 9:24 am

dougr wrote:
lsmith55 wrote:Then we need an updated total! :shock:

2013 should bring some more milestones ;)



$104149644.77
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Postby Downlow2step on Sat Feb 02, 2013 9:24 pm

That's some money !!
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Postby WalterSobchak on Thu Feb 07, 2013 2:30 pm

jamesgunter wrote:one time i accidentally reported (by mistake) more in gambling losses than total income for the year, ...no one noticed
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