Why do some Sellers insist on Friends And Family PayPal Payment Mode ?

[BRTreedogs]

I personally just google the item I sold print a copy off internet and record what I sold it for I keep it in my files for say 2024 taxes. I get it’s kinda a pain but some documentation for an audit stands up better than no documentation. Especially if professionally prepared.

Why did you say “yeah rite”?

Because I’m not keeping a paper trail on dozens of items it not hundreds.

I’m into atvs, trucks, house, hunting. Travel full time for work.
It would literally be rubber maids full of receipts.

And I’ve been audited a few times. They are not gonna give a crap about what you printed off of some website.
They want proof you bought it down to the cent.
If you can prove you actually purchased it you could be using it to launder money.

Off yeah I bought the binos but no proof I bought them, just a screenshot. But I sold them for this un documented money.

What your doing is setting yourself up for a money laundering investigation.

 

[fwafwow]

Because I’m not keeping a paper trail on dozens of items it not hundreds.

I’m into atvs, trucks, house, hunting. Travel full time for work.
It would literally be rubber maids full of receipts.

And I’ve been audited a few times. They are not gonna give a crap about what you printed off of some website.
They want proof you bought it down to the cent.
If you can prove you actually purchased it you could be using it to launder money.

Off yeah I bought the binos but no proof I bought them, just a screenshot. But I sold them for this un documented money.

What your doing is setting yourself up for a money laundering investigation.

I get the concern about a risk of audit and underreporting or omitting income, but I’ve not heard of the risk of money laundering.

 

[DonC1]

Backpedal

Never, it's not my nature but thanks, you tried.

 

[Snowwolfe]

I do not take PayPal nor pay with it. If it means I lose an opportunity to buy or sell I am perfectly OK with it.
There is ZERO reason for a seller not to accept a personal check and wait till it clears before sending item.

 

[BRTreedogs]

I get the concern about a risk of audit and underreporting or omitting income, but I’ve not heard of the risk of money laundering.

Well unless you can prove you actually bought it. Then you could be making stuff up.
There the government, they always do and expect the worst.
They want to u there power to get people.

 

[fwafwow]

Well unless you can prove you actually bought it. Then you could be making stuff up.
There the government, they always do and expect the worst.
They want to u there power to get people.

I just don’t see money laundering as a risk.

 

[BRTreedogs]

I just don’t see money laundering as a risk.

If you were a government employee trained in identification of such activity and required by duty to report it.

If you can prove you bought it. but your saying x money was from the sale that’s money laundering in a nutshell shell.

Product never existed. You claim you bought it then sold it as a loss. The incoming money is now laundered.

You have to prove you spent it on x

 

[fwafwow]

If you were a government employee trained in identification of such activity and required by duty to report it.

I am not trying to be a jerk (but realize that I sometimes can be) - serious questions.

If you can prove you bought it. but your saying x money was from the sale that’s money laundering in a nutshell shell.

I don’t think so. It’s income. The payment can still be traced via PP and it’s not layering or ill gotten gains, unless someone is selling to a cartel, human trafficker, terrorist etc.

Product never existed. You claim you bought it then sold it as a loss. The incoming money is now laundered.

You have to prove you spent it on x

I think that’s different - at least from what I thought we are discussing - selling stuff on RS. You may fail to prove your basis in the item, but that doesn’t mean the sale is money laundering.

 

[BRTreedogs]

If the government trusted us they would just trust people to report there income. And this whole pp 1099 thing wouldn’t even be a thing.

All I’m saying is you ether have actual proof or you don’t.

 

[Dos Perros]

Thanks for clearing that up. When I first read that it costs 22% or 24%, that's crazy. I guess PP does that for sellers trying to avoid paying taxes to the Government. Does that mean PP sends the extra $$ to US Treasury?

I think they hold it until you give your SSN. Maybe if you hold out long enough they send it there and you have to file taxes to get it refunded.

 

[BRTreedogs]

I am not trying to be a jerk (but realize that I sometimes can be) - serious questions.

I don’t think so. It’s income. The payment can still be traced via PP and it’s not layering or ill gotten gains, unless someone is selling to a cartel, human trafficker, terrorist etc.

I think that’s different - at least from what I thought we are discussing - selling stuff on RS. You may fail to prove your basis in the item, but that doesn’t mean the sale is money laundering.

I’m not saying anyone is laundering money on Rokslide.
What I’m saying is printing off the product page of some website that has the item is not the same as actually having a receipt proving you bought it.

If all you have is a screenshot of a retailer selling the item & and you saying you bought it and sold it is not proof you ever bought it.

All it is you saying that.

So it could be looked at like you completely making the item up and laundering money. Because you don’t have an actual itemized receipt with your name on it.

 

[fwafwow]

I’m not saying anyone is laundering money on Rokslide.
What I’m saying is printing off the product page of some website that has the item is not the same as actually having a receipt proving you bought it.

Understood and agreed

If all you have is a screenshot of a retailer selling the item & and you saying you bought it and sold it is not proof you ever bought it.

All it is you saying that.

Agreed

So it could be looked at like you completely making the item up and laundering money. Because you don’t have an actual itemized receipt with your name on it.

Ok. Now I understand what you are saying. FWIW I don’t think there is downside beyond additional income that will be taxed.

 

[Pharmseller]

I cant be the only one thats still paying with a check or money order?

I send cash in an envelope marked “cash.”

So far so good.



P

 

[BRTreedogs]

I send cash in an envelope marked “cash.”

So far so good.



P

Hahaha

60 percent of the time it works every time

 

[westsloper]

I will insist on purchase protection if I buy from new accounts. With older accounts I'm more flexible.

On the selling end, I price my items to factor in the G&S fee. I buy my shipping label through the paypal system and that gives me extra confidence that I'll be backed up if things go south - although I think all you have to do is enter tracking info to be eligible for the seller protection.

 

[Will_m]

Don't forget this Tidbit

It's rule 14 of doing business in the classifieds

Sent from my SM-S926U using Tapatalk

You know nobody reading internet forum rules. Come on.

 

[Will_m]

I do not take PayPal nor pay with it. If it means I lose an opportunity to buy or sell I am perfectly OK with it.
There is ZERO reason for a seller not to accept a personal check and wait till it clears before sending item.

Seems pretty risky for buyer though doesn’t it? He could just cash it and bounce. Or manipulate the check in some way and really take you for a ride.

 

[Dos XX]

Why would a moderator get involved in a classifieds dispute? I wouldn't expect it. If I owned the forum, I wouldn't allow it.

Maybe if you charged $50 a year to use the classifieds you could pay someone to get involved in disputes. But really, other than banning someone's ip, what is a moderator going to do?

 

[Fartrell Cluggins]

Some of you guys are so gullible it fathoms my mind but thanks for the entertainment value provided.
If nothing more it is worth the ride, lol.

Can you explain mind fathoming to me?

 

[wyodog]

I’ve only had 2 bad experiences ever on PayPal. It was the 2 times I used F&F. Won’t do it again.