[Amps] Fw: Time to Quit Using PayPal?

[Shagbark Acres]

 So, anything over $600?  Your right, there won't be any confusion. They 
will tax.

 Alot of amps sell for more then that... One transaction can net you a nice 
tax bill for selling your amp..

 I am not a merchant, but PayPal lists me as such...

 I just cancelled my account.


> ----- Original Message ----- 
> From: "Cliff Frescura" <cf at cfcorp.com>
> To: "'Shagbark Acres'" <gbenko at prodigy.net>; <amps at contesting.com>
> Sent: Friday, May 21, 2010 8:49 PM
> Subject: Re: [Amps] Time to Quit Using PayPal?
>
>
>> Looks like all electronic forms of payment will be reported, not just
>> PayPal.
>>
>> There won't be any confusion, anything over the limits set by the 
>> government
>> will be income and a 1099 will be issued and reported.
>>
>> 73,
>>
>> Cliff K3LL
>>
>>> -----Original Message-----
>>> From: amps-bounces at contesting.com [mailto:amps-bounces at contesting.com]
>>> On Behalf Of Shagbark Acres
>>> Sent: Friday, May 21, 2010 5:19 PM
>>> To: amps at contesting.com
>>> Subject: [Amps] Time to Quit Using PayPal?
>>>
>>> Seems as though PayPay will be reporting transactions to the IRS now...
>>>
>>> Lots of room for confusion for the "Private, non-business" seller...
>>>
>>> Check out:
>>>
>>> http://money.cnn.com/2010/05/21/smallbusiness/1099_deluge/index.htm?sou
>>> rce=cnn_bin&hpt=Sbin
>>>
>>>
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>>
>>
>>
>>
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