251–260 of 298 posts
I don't know why people always use Paypal when it's had a history of screwing people over. Use Google checkout for merchants, I've used it and it's really really easy to setup as well as safe.
So… nope.
Earlier quoted context omitted.
You cannot do both 12 months of pre-completion and 12 months of post-completion OPT, you only get 12 months of OPT per degree level
Yes, you're right. So if the OP works for 3 months this summer, he can still do 9 months of post-completion + 17 months if he has a STEM degree.
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I'm assuming you're selling the toys in the US. If you're selling them in somewhereelseistan, then you probably don't have a US paypal account and none of this matters. Unless you are using a US paypal account, in which case, whoopsie, should have sorted that out ahead of time. Don't funnel money through a country if you're not doing business in that country.
So, I bought new toys and had to pay tax. After some years I decide to sell it, I need to pay taxes for my old stuff ?!?!
If you buy $1000 of toys and then sell them on eBay for $200 later, then you won't owe tax because you had a loss of $800. However, if you were audited, you might have to prove that the toys originally cost you $1000. If this is the only unusual item on your return, it's unlikely that an auditor will bother with it.
However, if you went to, e.g., China and bought $200 of toys and came back to the US and sold them for $1000, then you will have to pay tax on the $800 of profit.
Wow, the sheer quantity of unhelpful advice in this thread is simply mind boggling. Hey, let's all hate paypal because they "steal" people's money. Ignoring the seriously thorny legal bramble that the OP has run headlong into with nary a concern. There is a bounteous variety of comments of the form "Paypal sux! {Use X instead!}" Where X may be stripe, or wepay, or whatever. Ignoring the fact that stripe wouldn't help…
What, so PayPal allowed him to use their service with a Social Security number, then they take his money because he doesn't have one? PayPal is the one at fault here. Don't let someone use your service without adequate ID. Tell them and require it before you can use the service.
I don't know why people always use Paypal when it's had a history of screwing people over. Use Google checkout for merchants, I've used it and it's really really easy to setup as well as safe.
Google Checkout closed our account because of suspicious attempted purchases of our JavaScript ebook, and kept our money. So… nope.
Otherwise I can't see any legal way that they (or PayPal for that matter) would be able to keep anything beyond their transaction fees.
Earlier quoted context omitted.
You cannot do both 12 months of pre-completion and 12 months of post-completion OPT, you only get 12 months of OPT per degree level
Yes, you're right. So if the OP works for 3 months this summer, he can still do 9 months of post-completion + 17 months if he has a STEM degree.
Earlier quoted context omitted.
What part of the law requires they look at his site? What part of having a really spiffy site on the internet instantly translates into someone running a legitimate company rather than a shell corporation? To be frank, you're talking out of your ass here. You have no idea of the problems that paypal is facing, and you are imaging that frozen funds are somehow identical to profit for paypal. That's not the case at all…
So if they don't look at his site, or his business, then how do they know he's a money launderer? The problem is not that they freeze accounts, but there is no recourse to appeal. They require ID after freezing the account, but they should get this before setting up the account. If they are so upset about fraudsters, then I'd have thought they would attempt to ascertain the identity of their patrons before getting th…
Imagine this situation without any financial institutions involved. Say that you are a visiting student from Venezuela without a work visa has earned $200k in cash in the US and then packed that money into a briefcase and went to head back to Venezuela. That money would be 20 banded stacks of $100 bills. Imagine what happens when you go to cross the US border and proceed to casually declare that you have $200k in cash you are taking with you. You have no work visa, you have no tax ID number, you have no business license. All you have is a website and a pile of cash. How do you think that will go? What do you think would happen if you took $200k in cash to Western Union and asked about wiring all of it to Venezuela?
Our country has decided to push a level of responsibility for tracking illegal financial transactions and for tax evasion onto financial institutions. And that's what paypal is doing here. They aren't doing it because it somehow makes them richer to have this money frozen for a while, that's at best a tiny effect. They are doing it because the alternative of ignoring fraud, tax dodging, and money laundering is that 1: chargeback rates go up, which will increase paypal's financial losses and could cause credit card processors to increase the rate they charge paypal for transactions, 2: governments confiscate the funds, 3: governments don't allow paypal to operate there.
The idea that there is some big mean paypal asshole twirling his mustache and waiting for an opportunity to screw over some hard working paypal user and steal their money is a very seductive one but it is massively wrong. The reality is that paypal has an enormously difficult job and sometimes good people get caught up in the complications.
The idea that someone can set up an international business and earn $200k in less than a year and somehow expect that operating without any documentation or having to go through any legal hoops is extraordinarily naive.
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Then PayPal should make this very, very clear. In fact, I'd go further: they should mandate that you provide an SSN before you can collect money. It's unethical to do otherwise: anyone who uses PayPal to collect money will want to withdraw it.
Paypal has no incentive here. They can just float the cash and earn a small % on it. Do it to enough people and you understand how they make a lot of money.
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Google Checkout closed our account because of suspicious attempted purchases of our JavaScript ebook, and kept our money. So… nope.
How did they keep your money? Was it just a small amount that you couldn't be bothered with so you let them have it? (going by how well your products seem to be doing that's unlikely) Otherwise I can't see any legal way that they (or PayPal for that matter) would be able to keep anything beyond their transaction fees.
http://slash7.com/articles/2009/3/26/google-is-evil-worse-th...