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[Updated Rule Change] PayPal G&S Recommended

Some questions, i am just curious

So if you are american and you sell your own stuff and that gets you 600 dollars or more a year, it counts as income tax, and you have to pay tax on the amount.
Is that how it is?

So a new rule/law? Who came up with that?
 
Some questions, i am just curious

So if you are american and you sell your own stuff and that gets you 600 dollars or more a year, it counts as income tax, and you have to pay tax on the amount.
Is that how it is?

So a new rule/law? Who came up with that?
Yes. So if your paying 30% income tax and then add that on your income and your paying 30%.

It was a bill few years ago
 
Yes. So if your paying 30% income tax and then add that on your income and your paying 30%.

It was a bill few years ago
I see, that i find quite surprising......... because normally those harsh tax law are usually something i associate with Europe.

Over here we pay very high taxes on both income and property, usually the reason for that it that education, hospitals, and doctors are free.
( well, obvious they are not free, since everybody (who has a job) is paying for it)
( And every freeloading POS from the 3 world comes here due to those laws.:)


-
here you can see them
-
Top Personal Income Tax Rates in Europe

Much lower tax in the US.

But you can however sell your used stuff here without having to pay taxes on it........ say like a used car worth 40.000 USD or something like that.........

but you cant do it every year, then the IRS will look at it as a second income, a real second job and not just a hobby business selling your old stuff.

600 USD seems very low !

What if you indeed sell your old car in the US ??
 
I see, that i find quite surprising......... because normally those harsh tax law are usually something i associate with Europe.

Over here we pay very high taxes on both income and property, usually the reason for that it that education, hospitals, and doctors are free.
( well, obvious they are not free, since everybody (who has a job) is paying for it)
( And every freeloading POS from the 3 world comes here due to those laws.:)


-
here you can see them
-
Top Personal Income Tax Rates in Europe

Much lower tax in the US.

But you can however sell your used stuff here without having to pay taxes on it........ say like a used car worth 40.000 USD or something like that.........

but you cant do it every year, then the IRS will look at it as a second income, a real second job and not just a hobby business selling your old stuff.

600 USD seems very low !

What if you indeed sell your old car in the US ??
The key is the G&s or buyer protection. Any Chanel that offers the hueyers protection then you get stuck with tax.
 

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