As of January 1st, 2011,
PayPal is now supplying the Internal Revenue Service with a complete list of all
sales utilizing PayPal.
Every Internet Seller now has
a 1099 on file with The IRS and all sales (After 200 Yearly
Sales) will be Reported and Taxed as
income.
A brief explanation of PayPal
commissions and how it affects the price of items purchased with PayPal.
The average sale on this website costs the seller 5 % of the total sale, which
includes payments for exact shipping charges. All refunds made for excess
shipping charges, or if a full refund is made, another 1 % is charged by PayPal.
They report an annual income of more than 80 Billion Dollars in revenue and have
more than 87 million active accounts.
A note about myself
........... I am 73 years old, retired on Social Security and use this website
to supplement my income. I am currently updating this website to limit any
PayPal transactions to
$ 70.00 plus shipping.
Future updates will limit PayPal to $40.00 in 2013 with a goal of eliminating
them completely in the future.
Quite simply, I no longer can
afford to take payments handled by PayPal & reported to the US
Government.
Thank you.
Please Email me with any
comments about this issue.
