Paypal Changes for 2022


If I understand this correctly, Paypal, along with all on-line payment sources like Venmo, etc. will now be sending out 1099 forms for all payments totaling $600 you receive in 2022 for goods or services.  The only way around this is to use Paypal friends and family for payment which eliminates any buyer protections.  Is everyone aware of this?

 

Ag insider logo xs@2xdave43

Lmfao @nonoise . The answer isn't in giving things to people. The answer is in people working and gaining dignity and pride in what they are able to accomplish. The government has been giving people all of those things since FDR and LBJ and those people are exactly where they were then and in long look worse off. They don't take care of anything because nothing belongs to them. They don't learn self-accomplishment and pride and they certainly never step on the ladder of prosperity. It's become generational. In a capitalist society in which you seem to frown upon the employee has leverage as well. People that decided to learn in school rather than goof off have better opportunities. People that work have better opportunities and people that give a rip advance and if they can't advance where they are are free to go somewhere their abilities are compensated. I don't know why nobody ever told you but three things are antithetical to your ideal Utopia. Life is not fair. People don't have equal abilities. Actions have consequences; good and bad.

My story was not a sob story. I'm proud of myself. The me of 20 years ago would have thought the me now was rich. I own two houses now, one I rent out and use the rent to pay for this one. I own a business painting houses of people who I would consider rich. I employ between 2-8 people depending on what time of year it is. Rich is always relative. I guarantee one thing though friend, if I had blamed my condition on everyone else or even at just one group of people I would have never moved from where I was. People today are being conditioned to blame groups, told that they are incapable of making anything of their lives because someone else is stopping them and that they should just be happy with what the government gives them. People are being told that they should instantaneously achieve what they see other people have who have worked all their lives for. 

Could you imagine how many people could go to work, gain some dignity, advance in life if government weren't such a glutton? Where companies could pay people more if they didn't have to pay so much in taxes? Where companies didn't have to spend sometimes millions annually to keep abreast of current tax law? 

 

 

 

@dadork , you're not going to get any affirmation from me so why do you keep alerting me to your silly rants? Are you using this as a way to vent your frustrations on a forum dedicated to audio? Don't you have farcebook or 8kun or parlor to post on?

While you have my attention, just who are these people you keep referring to?

All the best,
Nonoise

For some time now I’ve bought and sold 100k easily every 6 months  
I pay in cash  and accept cash only.  . You can’t afford to do this find another hobby. I pay cash to individual to drive anywhere and cash is king.. 

I do the same on autos I collect. That’s tricky due to title work. Can’t recall getting a title on a 30k amp.

I suspect one would have to be careful doing so, but the possibility might exist to receive multiple payments in lieu of one larger lump sum (e.g., three $500 transactions in lieu of a single $1,500 transaction). Of course, you would incur additional fees in doing so and the IRS might view this is some sort of "structuring". Hard to believe they would target hobbyists, but in this day and age, nothing would surprise me.

 

Such a bummer, glad I sold most of my old gear last year. I have a few more items to sell and will probably require cash in person, multiple payments, or BTC. 

I bought a Fender Stratocaster for $1600 in 2019 and sold it for $1400 two weeks go.  Will I get to deduct that $200 loss?