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It is correct that PayPal charged the 2.9% fee against the sales tax, but back then eBay did not charge their 10% fee against the sales tax.
Now eBay is charging 11.7% against the sales tax, compared to only 2.9% under PayPal.
The math still works out that managed payments is cheaper than PayPal, but it seems like they snuck this change in under the radar.
The $30 would be added to the cost of the inventory, not expensed immediately. Your basis in the inventory would be $230, which would be deductible as COGS when the inventory is sold.
I’m a CPA. The masks are definitely deductible if you used them for business purposes. The mileage would only be deductible if the primary purpose of the trip was business (greater than 50%). Absent new facts, that doesn’t look to be the case here.
Mainly I just don’t want to deal with learning the system during the holiday season and don’t want to risk any potential disruption in sales. I’m also not ecstatic about all the issues I’ve been hearing about (chargebacks, days of waiting to receive funds, issues paying for shipping, etc.).
Related to this, I’ve had something weird happen around a half dozen times over the last couple months. I will receive an email out of the blue from PayPal titled “Refund in your eBay Dispute Case”, despite the fact that I’ve never actually opened a case. The email will say that eBay has ruled in my favor in a shipping label dispute case for some incidental amount of money (typically less than $3 and always less than the cost of even the cheapest shipping label) and the amount has been credited back to my credit card. I have no idea what these emails are related to, but my theory is that USPS is trying to come back and charge me for packages with the “incorrect” weight or dimensions and eBay rules against them automatically in my favor. Has anyone else had a similar situation occur?
I had this problem a few years ago. It was a $500 item. The issue at the time seemed to be that nobody at the Post Office knew their own policies, so nobody knew which claim form to submit or who to submit it to. I ended up losing the case because of it.
I think I figured this out, with the help of this video:
The Economic Injury Disaster Loan (EIDL) has two components, a $1,000 grant per employee and a loan program for up to $20,000. This is different from the Paycheck Protection Program (PPP), which is where the potential $10,000 grant comes in. The PPP is based on your Schedule C income from line 31 though, so if you take a lot of deductions like I do, you won’t be eligible for much.
Wow, that is a great price. I buy my bubble wrap at Sam’s Club (240 sq feet for $12.98), but that site is 39% cheaper at the 1400 sq foot product. Thanks for the lead!
I applied for the EIDL loan a couple months back and received a $1,000 deposit in my bank account a few weeks after. Has anyone had a similar experience? If so, does anyone know if this is a grant or a loan? I received a further email confirming that I was eligible for a $7,700 loan which I didn’t accept, but no mention at all of the prior $1,000.
Not eBay, but I get my bubble wrap at Sam’s Club. Cheapest price I’ve seen anywhere ($12.98 for a 240 sq ft roll) and the quality is very good, much better than most eBay sellers I’ve tried over the years. I actually drive up to New Hampshire every three months with a trailer to load up on it!
This happened to me recently as well. Sold two vintage cameras as is and untested for parts or repair and the buyers opened cases claiming not as described. Reps were useless as usual, but after calling about a dozen times and escalating to the managers every time, I managed to get them to offer a $25 gift card to resolve everything and ended up breaking even on the whole mess.
Most reps know false INADs are a problem but they don’t have any power to do anything about it.
I’m sure most of you will be receiving this message soon, but looks like it was a false alarm.
Today we inadvertently sent you an incorrect message in My eBay. The subject line read, “Count on BIG sales with these items.” The message was related to a different topic. Please disregard the message.
We sincerely apologize for the error and any concerns you may have. Please be assured your account is secure and that you can continue selling on eBay without interruption to your business.
Again, we’re very sorry for any confusion this may have caused. Thank you for your patience.
As always, thank you for selling on eBay.
Sincerely,
The eBay Seller Team
