Why would someone ask for PayPal Friends and Family as the only payment?
- Thread starter boscoebrea
- Start date
Most of the time it's to save from having to pay the 3.5% fee that the recipient would lose to Paypal on each payment for receiving Goods & Services payments. Other times, the seller doesn't want the buyer to have any recourse on the transaction should anything go wrong - which is why scammers and less scrupulous sellers only want to use this option.
That said, I would be weary of anyone insisting on Friends & Family only payment. If the buyer is willing to pay the extra 3.5% on their end for their own peace of mind, the seller should absolutely allow for that. A seller unwilling to do that would raise red flags for me.
That said, I would be weary of anyone insisting on Friends & Family only payment. If the buyer is willing to pay the extra 3.5% on their end for their own peace of mind, the seller should absolutely allow for that. A seller unwilling to do that would raise red flags for me.
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It actually goes against Paypals terms and conditions to ask someone to go the F&F if they are not family. So bear that in mind.
Typically I will still add the 3.5% to cover my own butt in the case of something happening. It is a little bit of coverage to make sure that you don't get screwed. Typically if selling anything just figure that cost in to your sale price and go from there.
Typically I will still add the 3.5% to cover my own butt in the case of something happening. It is a little bit of coverage to make sure that you don't get screwed. Typically if selling anything just figure that cost in to your sale price and go from there.
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To get me to keep clicking past their ad and onto the next one.
PayPal only ads are inappropriate enough for me, F&F as a requirement means they can cheat you and PayPal will stay out of it.
Now, PayPal makes it hard for sellers to avoid crazy fees and BS and using F&F avoids that problem, but that dumps it all on you.
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Consider that any Monies outside of friends and family are considered income and reportable in 1099 form to the IRS.
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As a SERVICE provider .... You bill for your time vested. If Paypal charges an extra @3.5% then you have two ways in covering it.
Add it to the bill discreetly, or give payee a choice to pay the fee or send F&F
Add it to the bill discreetly, or give payee a choice to pay the fee or send F&F
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I have built (I think, I hope) a good reputation for myself here. I generally ask for FF based on that, I will ask that you (the buyer) add G/S if you so feel inclined. However, for me, it’s mostly about staying out of the radar of big brother.
Conversely, I will either not buy, or just add the G/S if it’s a seller I don’t know well. But generally will buy from trusted sellers/members.
Conversely, I will either not buy, or just add the G/S if it’s a seller I don’t know well. But generally will buy from trusted sellers/members.
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I AM moving back,, towards paying by check or money order, to heck with the boys making money off me and using the platform against US.
I got time to wait while my check clears, as a buyer I am in control of my money,,, will ya take silver rounds as payment???
I got time to wait while my check clears, as a buyer I am in control of my money,,, will ya take silver rounds as payment???
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If I buy something for $100 and sell it for $75 that is not income. Not paying taxes via PayPal is not tax evasion in that instance. No different than selling my no longer wanted or needed items at a garage sale. I don't know about you but I haven't sold anything on here for more than I paid for it. I should be so lucky.
You really think paypal doesn't have a record of EVERYTHING you have bought through their site? They know what all of us are spending out money on weather or not we are using the Friends and Family side of things. They all have records of everything
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You are correct but I was under the impression that such sales ($600+) were now supposed to be reported as zero-cost basis (pure income). I'm pretty sure that's how PayPal will be reporting it, as they don't know what you bought anything for in the first place. I will probably report it as income this year to avoid a conflict in reporting. I have enough losses to offset it anyway -- and if the tax man wants to come knock on my door he may as well show up with my tax rebate check in hand.
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I reckon it doesn’t really matter what I think. Even if they had so deep tentacles that they knew everything that PayPal customer #309 had privately listed on one or more of a gazillion websites on the internet. Thinking that makes me feel all warm and fuzzy inside. At the end of the day, someone will buy what I’m selling, or maybe not. Perhaps I will give it away at that point to a worthy recipient, or throw it away, or my kids will when I croak.
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Its not that they know what you are selling..... its that the know you are selling an item for $1500, or what ever amount. Then they can figure where the item was sent and much more. You have to remember that everything is linked somehow. It isn't hard for a computer to pick up on rhythms and patterns that people are doing.
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I cancelled my Paypal account and will no longer do business through them. I've bought many used airguns and subsequently sold them. Of course, at a loss, so how can any of these transactions be considered income or profit?
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I take PayPal ff or regular PayPal because it's easy. If someone contacts me and wants to pay another way we would figure that out. I dont care how I get paid as long as I get paid hassle free.
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Tax evasion nothing - give me a break. It's 100% the reply you replied. We've already paid state and federal income tax on our money that we then used to buy something, which was then taxed again with state sales tax. Now we're going to sell a "used" item and have to pay income tax again on money - it's triple taxation. I view selling on here like selling at a flea market or gun show - cash in hand baby. You got a problem with that then move the hell on from my ad.
I have had ZERO issue selling everything I have posted in the past year with requested PP F&F, and usually within a day or two and sometimes within hours.
And for the other replies regarding piece of mind and seller protection - get real!! You're risking your PP account being shut down if they find you're buying and selling guns using PP. Just take a look through the PP threads over the past year - PP reserves the right to steal $2500 of your money. Try and make a claim and say the used air"gun" I bought was damaged in shipping - good luck.
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Is PayPal going to send me a report of my annual activity so I can accurately document earnings?
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