The Final Nail In EBAY's Coffin?
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- čas přidán 16. 01. 2022
- The Final Nail In EBAY's Coffin. Ebay is now charging all sellers tax just like they are a brick and mortar storefront, which means that ANY seller now pays tax on their items just like Best Buy and others. It is the end of an ERA for Ebay and most likely be a serious issue with casual sellers who now will pay double tax as items they have already paid sales tax on will be taxed again at the same rate as they were purchased. This is double Taxation.
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#Ebay#Taxation#TechOFTomorrow - Věda a technologie
This is a kill me moment for EBAY, I am done with them!!!
Yeah now even mercari wants w-9 info it's literally the reason why I went with mercari cause they didn't ask for all that stupid stuff ebay wants and now there bending the knee too.
This sucks man, I want all the shitty people on ebay to stop their BS scalping and buying out everything I want just so they can post it up on ebay at a higher price, but I don't want the honest sellers like you and others that I have bought from in the past to get hit over by the same train. Not everyone there is bad. If anything I'm bummed that this affected you and the other good sellers ☹😢
Doesn't matter if eBay or elsewhere, new law started Jan. 1st of 2022 where sales of more than $600 in a year can be taxed.
It's not ebay but the IRS. The IRS made every online sales playrofm or money transfer company do this. Only thing that was strange is that they witheld payment. Everyone else seams to not let you post or make transactions unless you type in your info.
I just talked to them about it and they said they don’t charge you tax they charge the buyer the sellers tax. They been doing this for the last year or so since Biden been in office. Biden $600 law just kicked in so they need your info if you sell anything combined yearly value at $600 or more. It’s always been law you must pay taxes if you sell stuff though. No one usually reports it.
Thank you for covering this. eBay has been on a rampage and straight up stealing from sellers. It’s disgusting. I have requested repeatedly that they show proof that they are actually repassing that money to the IRS and of course they have not shown any proof of it. To make matters worse, they have been calculating their fees based on taxes and shipping which is entirely ridiculous.
I used to sell, I feel sorry for the people who do still sell.
This goes for any website that you can sell products on due to the changes in the tax code. The threshold used to be $20,000 with a minimum of 200 transactions but they have reduced it all the way down to $600 starting this year.
LET'S GO BRANDON!!!!
@@sdafasdfasdfsda Illiterate parrot says bawk!
That sounds really communist.
Illegal? No.
Fails to meet the stated purpose? Absolutely.
The updated tax code did pass both houses and was signed into law.
While the purpose was to try and ensure that people who were operating as an online business pay taxes, lowering the cut off to $600 dollars fucks the proverbial pooch here.
Such bs. government getting to tax us twice for goods.
Thanks.. I had no idea this was happening. I sold a big ticket tech item in December so I guess I got lucky. I'm under the $600 threshold in 2022 for my last item but it looks like I'm not listing anything more. Thanks for the heads up.
Whenever I tried selling something on eBay, it was almost never a good experience. Shipping estimation issues, communication, etc. I'm so glad we have Kijiji in Canada where I sell all of my used stuff.
Kijiji was owned by ebay until June 2021.
@@JamesHoughton And?
@@AcuraAddicted Major change happens when people get bought out, especially almost a year later. That's what the point is. Use your brain.
This is ridiculous. This is one of the reasons why I stopped buying and selling for a living. Recently I’ve sold a couple things on eBay and wanted to get back into it but forget that. eBay fees are already crazy. People really need to stop using it.
Good to see you healty Elric! Keep getting better and making videos!!!
What you're complaining about was mandated by the US government, and Ebay is trying to have the legislation changed. If tax is withheld from you on an untaxable sale (e.g. you sold something at a price lower than what you bought it for), I think you can put that on a tax rebate or something.
Yeah this whole situation sucks, but Ebay isn't the one to be mad at here....
Thank you for speaking the truth. I sold something just recently and the ridiculous fees and charges Ebay take they ended up making mad money at my expense. I swear I'll no longer want to use their platform.
That's why I stopped selling stuff on Amazon. They made more money than I did. The final nail in that coffin was when one item I shipped to a buyer cost $18.50 to ship and Amazon compensated me for $4.98.
eBay has become a total garbage in the last few years. When I used to buy phones from the U.S. to Canada there weren't any import fees, just a simple shipping rate. Now I have to pay huge import fees for every hardware from the U.S. That was the nail in the coffin for me. I think everyone needs to stay away from eBay so they will get hit so bad. Honestly, they've gone down so much and I used to see so many useful items and tools back in the day. Nowadays it's desolate.
Great info, and As always loving the musical gear in the background! 🤘
This is absolutely ridiculous ... I've been using ebay since 2001 and have never sold an item on there, because I couldn't be bothered chancing selling to a scammer and getting hosed. Now the people who run it are scammers ...
I've boycotted eBay many years ago. It's about time everyone else ditch it.
Not ebay’s fault, is your government’s.
@@TrojanLube69 it's actually Ebay's fault. No other mobile platform do this to small business merchants.
@@Hboogie182 Every platform including facebook marketplace. Wtf are you talking about. This is why we are doomed because fancies like you only see a check for 1400 dollars but not the laws they put in place in those massive 4000 page bills. It’s a law, not a policy.
@@TrojanLube69 how much is eBay paying you to defend them?
@@Hboogie182 it takes one google search to find ebay forums where you can clearly see all the events they holded to avoid this bill when it was proposed to congress. But you too lazy to google huh. Prob a libertard.
Haven't used eBay since I sold my 1060 back in 2017, they charged me 90+ dollars between both eBay and PayPal. Never again...
This happened to me almost a year back. I am a international student in US so I don't have SSN. But I sold a shoe then it showed the same red warning saying they needed SSN and ID proof and everything. Thank god I saw it before I shipped and made up with the buyer. It is a shame with business leaders these days.
Totally agree with you. I quit years ago, it's not worth it.
awesome content Tech of Tomorrow. I shattered that thumbs up on your video. Always keep up the awesome work.
Thank you for giving heads up about this,this is some bs...
Taxation without representation, immoral illegal. On point, Elric.
I used to sell regularly on ebay years ago but then stopped. I finally sold something this past year again and it was so different, paypal was out of the picture and now they needed my bank account info and the fees were much higher.
They've been doing illegal taxation here in Portugal and most of Europe for over a decade. By law, payment related fees don't pay VAT. eBay charges it anyway.
In Ontario,Canada I paid nearly 70$ in Tax+Eco fees on a 449$ Ultrawide monitor. Imagine if I sell that on Ebay how much that item would be soaked for tax. Insane
Your absolutely correct! I spent thousands of dollars on @bay when suddenly my account was suspended. Called EBay corporate asking why I was suspended. They told me We can’t give you the details….. Hello Amazon…. I’ve spend Triple of what I spent on Fartbay…. eBay sucks for everyone
oh that's unfortunate, i was gonna sell some stuff on ebay again for some cash. Glad i caught this video.
I'm not sure but everything starts in July last year when the new EU law forced eBay to collect VAT taxes. It seems now they try to collect other taxes not only for the EU but for all. So, eBay is a registered tax collector and each tax is reported to the local government depending on where it was sold or bought.
Been selling on ebay since 2000 and I closed up shop this year. Ebay is horrible now for this and for so many other reasons.
eBay is currently fighting the IRS on this. It’s always been law unless you have an exemption though. We were just allowed to break the law. That being said, I still don’t think it’s fair that an item can be taxed virtually unlimited times if it keeps changing hands
I don't care about tax I want my damn money when I sell something. Holding money and choosing when they want to send it even after the customer has the item is horrible, absolutely horrible.
Totally agree with you , I don't understand why do I need to pay taxes when I am buying used item on eBay , when the original owner already paid taxes since the item been purchased brand new from the store , website etc. Real case , the other day I've purchased on bid used rx 6800 xt for $1025 and I got to pay $90 taxes ! This is ridiculous , why ? Taxes for this GPU been paid already from the seller , when he/she originally purchased the card ! No sense to me robbing people with taxes on used items
I know exactly what you mean; it pissed me off as well. They did that to my friend and to me when i was selling. Now you have the IRS wanting in on your digital goods.. pure horseshit man..
I did not know they removed PayPal from eBay and I thought the buyer was the one that got to pay sales tax. Shouldn't be paying tax on buying from indevidual selling their old stuff, should only be when buying from a business, like someone with a business account on eBay.
It's been a while since I sold anything on eBay, I guess this tells me I shouldn't sell anything on there. So sad, eBay used to be pretty cool.
It’s not a sales tax it’s an income tax withholding that the US government is now forcing eBay and sites like them to do.
Trades in New Zealand on line are the same - Goods and Services Tax 15%. Though you don't have to register for GST unless you trade more than $60k/year.. On top of this how do you sell animals? e.g. chickens, eggs, goats, sheep, cattle on line? That's been squashed too...
I heard this is happening a lot to eBay scalpers
This is why I don’t do business w google .
Very good information to know, thanks for getting this video out. It's insane to think that something I've used in the past, and was thinking of using this month just went down the toilet. Seriously thanks for letting me know, might have to go to the Facebook market now or something? Oh well. Hope you're doing well man, sending you love.
EBay does not care about their sellers. The reason they are doing this is because IRS found out that EBay customers are not paying tax so they asked Ebay about but Ebay said they couldn't because they did not have enough information.
Yeah, double taxation in a pretty common thing. For example, every time you buy a used vehicle in Ontario, Canada, you pay 13% tax on it when you register it. In fact, any new owner of that same car will pay 13% tax every time they register it to their name. So it's not only double, but triple, quardruple or however many times you register tax.
That's not double taxation. Each owner is only getting taxed once
I agree man this government is out of control. What till you do your tax returns this year.
By no means do I agree with additional taxes or ways to implement them. However, as you mentioned. Second hand shops, pawn shops, ect, all pay taxes on goods sold (Used goods). They also have rent and other fee's that an ebay seller would not. Smaller businesses have been fighting these types of "taxes" or increasing fee's for years with little support. Topping it off they have to compete with sellers such as "ebay" sellers and further losses to big box stores. It's not ebay. A law set in place by everybody's good buddy Binden!! This tax was partially brought on by people buying up all the supplies (computer hardware was a big one) and selling them for huge profit on platforms such as ebay...therefore causing shortages and prices to sky rocket.
not to mention the roads you drive on tax, the fuel taxed, the car you drive taxed, to go to work to get taxed to come home to your house that is taxed, now they want you to make sure your pocket is taxed 100% and then you pay triple tax on. not to mention any other tax i may of missed.
When this auction site became a publicly traded company, it was all down hill from there it was then ran by a bunch of people around a board room called the proverbial board of directors, that should celebrate today the complete destruction of what use to be one of the best places on the internet to buy and sell like a virtual flea market for everyone. Now like many other great companies ran into the ground by profit driven thinking and no more.
Thx Brandon
that’s why here in Europe other marketplaces like Vinted are already much more popular than eBay, see France i.e.
Amigo!!! That TAX is already for years in some EU countries when you buy item - BUUUUT there is tax too when you sell that item again and all the next times when your buyers will sell that item further 🤣👍
Elric you look great dude! Keep on rocking with the great content!
Thank you Sir
do people think taxation is done by stores and not laws?
I stop messing with eBay a long time ago…..to much fees and if some breaks the item and send it back they get their money back
Or steal a item and not return everything. The dumb ass support person hardly spoke freaking English.. pissed me the hell off.
@@Killswitch1411 And if you are a small seller you cannot afford this you pretty much just giving your items away
@@tekminute I'm just a individual seller, not making it a business.. fees are outrageous and seller support is almost nonexistent. It's sellers fault first with ebay even though there would be no items for them to make money from. I've reduced my selling on ebay and I'm picky with what I sell.
Yes same here...eBay holding my money..sellers are doing all the leg work source item/list item/packing item/shipping item..but I will tell you my wife sells on FB market place and gets e-transfer directly to her bank account or cash at the door when selling locally and I have found on eBay only getting a half dozen views on items at best..I was selling on Craigslist and other free listing sites at much greater volumes.if you have a warehouse full of crap to sell just on eBay you may have a shopping addiction.
I thought every store did that unless a product was shipped from outside the country.
They are doing it in Canada too I stopped doing it.
Ebay manage payments is the worst thing that could possibly happen. The whole PayPal drama was just BS. We all know ebay just wanna double dip on everything.
I didn't realize this. Anybody remember when no online purchases were taxed? Then the government had to get their greasy fingers in everyone's pockets.
Yeah that's the same time that megaupload was still around.
I heard about this coming a long time ago but I thought it was only going to affect a few States
They need to change their name to YARD SALE
what about those sellers outside USA, which because are outside the country shouldn't pay taxes, are they selling cheaper than the local?
The shipping fee for a dvd is like 16 dollars when the last time I tried to sell on ebay.
Puts a lot of potential sellers off using eBay and recycling unwanted goods.
Yup. And they will gain interest on the money they are holding.
YEP, time to use something else, if there isn't something i guess i might have to build it
I can't believe this was a year ago. It's now 2023 an they worst with their crazy policies & they grifting promotions. Can anyone tell me the best alternative to sell & ship?
Any good alternatives besides Amazon?
Sounds like everything in Portugal x)
Ebay blows. I just got robbed for 109 bucks it the 5th and last time. The place has become. Rip-off central I am done
I don't even order off ebay anymore mainly amazon now
That is wired why are we paying tax as a seller when the buyer is paying a tax as well which eBay automatically takes and you did not get that extra cash to pay the tax?!
Etsy is doing this too. This is technically legal but it's ridiculous and I don't agree with it either. Ebay is legally beholden to report all transactions over $600 now I believe.
Wow, you made this video before they started charging final value fees for sales tax, plus raising fees again… Well, they did lose 10 percent of their sellers last quarter.
Thank you for making this video!!!!
I feel the exact same way about the taxes.
I just sold a video card and a processor for a combined total of $500 and they charged me $90.00 in fees and taxes. GTFOH I'm closing my ebay account.
Especially when you needed the money so that you could ship the item in the first place.
Facebook market place is going to be there soon as well lol
I pay taxes on Items I purchase from Ebay around 6.5% in texas, I thought I was the one paying the taxes wtf.
that's why I don't use ebay or paypal to sell anything at all.
Thank you for this video!
odd that they wont let use PayPal considering PayPal is owned by eBay, to be honest they way eBay are doing things now its not much different then Amazon
I thought you had to make a certain amount of money. I don’t know but I haven’t used eBay in years. I don’t like there shady return system. I got screwed on a monitor. They sold me a monitor and it wasn’t the model listed. The picture and the the description was correct but the monitor I received wasn’t right. I guess a Benq 2546k is the same as a Benq 2411k 😆. I got it fixed but it wasn’t easy because he had no refund. I guess no refund even applies even if you get the wrong product..
I'm so glad eBay is history. I'm so done with them. Lol 😆😂 thanks for letting me know, tech of tomorrow.
All said same thing about CZcams 7-8 years later CZcams is still here
Imagine a American moaning about tax 250 years later... Kappa 😏
#Jokes
*Cough* ‘Course they weren’t upset about taxes, but taxes without representation. 🤭
18%+Tax? They're crazy.
I used to like ebay when they just used paypal and didn't use their own system.
I thought paypal and ebay were now the same company. One acquired the other.
So where to sell tech?
eBay should just become an online dating site. They can't handle merchandise.
The BUYER pays sales taxes NOT the SELLER.
A distinction without a difference
@@fgsaramago I sell you something for $100.
I get $100.
You pay $106.
Vs
You pay 100
I get $94.
You can't seriously be THIS stupid, right?
...right?
@@tim3172 obviously the buyers already factor into the amount they're willing to pay the tax, hence driving the market price down, hence the seller is indeed paying.
In most of the world, sales tax/vat is already in the displayed price, making the lack of difference even more clear
I was gonna sell my open box 3070 on eBay but I could tell it was a scam fest. So I canceled the item and ate the $80 fee. Much better than having some scum report me for open box. Get my item and their money back. This happens alot too.
It's time to start using Craigslist again. There was a time when the Craigslist community was a great place.
Its all TAXES. CashApp is now reporting any transaction over $600.
I’m done with EBay
1000 plus all positive feed backs
I stoped selling with the PayPal break up. eBay started holding peoples money for over a week
Now higher fees lol 😂
eBay is dead now
Was great back in the days. They constantly changed things making it more difficult
Also post office prices sky high too. Sucks
Just watched. Wow
Tax on tax on tax and on fees
Yup and they set on that money to draw interest off our money
Any other sites to sell on ?
I liked PayPal set up was great. Back in the days
I personally think Sales Taxes should be illegal but since the Government is the one who writes the laws what can we do?
18%??? they're aloud to do that??
They allowed the transaction to occur, they should have cancelled it.
No thank you !
I dont get it, when you sell it's usually the buyer who pays the tax.
They buyer would pay sales tax if applicable. The seller will be getting the money taxed as income.
Fuck'em dude, you are the man!
I just want to get paid when I sell a freaking item. If the customer pays for shipping what the hell is the point of not paying the seller until it arrives? I have been selling for 3 years on there and now I'm done, if I could beat the shit out of someone at eBay I would gladly do it. If you're relying on that money you're screwed. I have never missed a shipping date and never had a angry customer yet they choose which items they want to pay you right away on. I just had 500$ sale and the item is already delivered and I'm still waiting on payment, now it's saying another 1-3 days when the customer already has the item. I can't explain how pissed off I am, I'm literally puking from the anger.
This can't be legal. Here in Texas, when we pick up something from the supplier, they waive the tax, because we are going to charge the tax to the customer when they get their invoice. You can't double tax something.
or post them on craig's list
eBay is going bankrupt 100 percent
I'm not pissed about paying taxes...I'm pissed about this loosey-goosey BS buyer cancel policy. Buyer makes an offer and we negotiate a price. Buyer sits around with thumb in no-look spot with my item in nowheresville then sends a cutsie "Please cancel, sorry and thanks." Meanwhile my SEASON SENSITIVE ITEM is sitting. I'd list everything as no offers but ebay buyers seem to want to play their own version of storage wars...on second thought....I'll go back to that and spare myself the PITA ebayers. Good bye BEST OFFER.
Fuck eBay ! They charged me a fee because the buyers address was in Honduras but his shipping address is in the US. What the fuck ! I have no control over who buys my items. I made the listing with no international shipping.