ATTENTION: Current Rash Of Scam Ads- Please Read

Discussion in 'For Sale: Bass Guitars' started by Bryan R. Tyler, Aug 6, 2021.


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  1. Ok so we can use PayPal but not the F&F side of PayPal. What is G&S
     
  2. Double E

    Double E I ain't got no time to play... Supporting Member

    Dec 24, 2005
    Cleveland, OH
    Goods & Services. This method provides protections to the buyer and seller. This comes at a cost that is absorbed by the seller.
     
    Mshraderbass likes this.
  3. Is it on PayPal and how would I go about that? I've been had a couple of times (not on TB) but other sites and I want it to stop
     
  4. Mshraderbass

    Mshraderbass

    Aug 21, 2021
    Bama
    When you create your invoice it’ll be under goods and services. You list a description of the item and anything involved in the sale such as a power supply cables etc. it’s just basic invoice details and shipping costs. Then you send it to buyers’s email. If it’s under friends and family category,you’re not charged the same fee and you’re not getting protection, simple as that
     
    Double E likes this.
  5. Double E

    Double E I ain't got no time to play... Supporting Member

    Dec 24, 2005
    Cleveland, OH
    G&S or F&F is a required selection that you must make before completing your transaction on PayPal. Don’t click “Send” until you’ve confirmed the payment format.
     
    Mshraderbass likes this.
  6. Mshraderbass

    Mshraderbass

    Aug 21, 2021
    Bama
    Lol exactly what I was trying to explain, sometimes I’m not clear. Thanks Double E
     
  7. Double E

    Double E I ain't got no time to play... Supporting Member

    Dec 24, 2005
    Cleveland, OH
    Here’s a partial screenshot from the payment page on the phone app… tap where is says “Friends and Family” to change the format to "Goods & Services" (unless that is already selected, of course)

    upload_2021-9-3_13-33-4.png
     
    Last edited: Sep 3, 2021
  8. Thank you folks very much
     
  9. Sirfishalot

    Sirfishalot Supporting Member

    Oct 22, 2019
    Seattle, WA
    Regarding the above sending via Friends and Family - Beware, this avoids PP fees but does NOT give the same levels of protection. This method is highly discouraged on another popular photography buy & sell forum. Do your homework on PayPal protection. Best to pay their fees to be on the safe side.

    JayT
     
    Double E likes this.
  10. Double E

    Double E I ain't got no time to play... Supporting Member

    Dec 24, 2005
    Cleveland, OH
    Payment with Friends & Family is not allowed to be requested by the seller here on Talkbass as a matter of the official guidelines. I wholeheartedly agree with this policy and would not purchase from or sell to a remote party with a Friends & Family payment.

    I did warn earlier in the thread that Paypal protections do have some limitations though and you should know when you may not have these protections. Here are a few things that may strip your protections even when using PayPal Goods & Services payments:
    1. Partial payments... do not use PayPal to make installments or deposits on an item. Pay for the item in full with one transaction.
    2. In person sales without proof of delivery from a shipping company.
    3. Shipping to an address that is not the same address provided in the transaction.
    Another note on #3, always be sure to have the correct shipping address listed on the transaction BEFORE it is completed. This cannot be changed after the transaction is completed without refunding the payment and starting over... which would not be a big deal except PayPal keeps the transaction fee now on all transfers. The seller cannot issue a full refund without covering the ~3% fee only to pay it again when the payment is resent.
     
    Last edited: Sep 3, 2021
    R&B and rllefebv like this.
  11. Dean Gomes

    Dean Gomes Supporting Member

    Jul 11, 2021
    What about us postal money orders?
     
  12. Double E

    Double E I ain't got no time to play... Supporting Member

    Dec 24, 2005
    Cleveland, OH
    The form of payment is up to you and the other party. TalkBass does not restrict form of payment.
     
  13. BASSPLAYERS4HIM

    BASSPLAYERS4HIM

    Oct 13, 2011
    Maryland
    Talkbass DOES NOT restrict form of payment....hahaha?

    So, why bother talking with all of these nonsense comments about this issue then???

    Can someone, explain it then....please...
     
  14. Double E

    Double E I ain't got no time to play... Supporting Member

    Dec 24, 2005
    Cleveland, OH
    They don’t…

    The only mention about payment in their guidelines has to do with the PayPal fees. They only ask that you don’t require the buyer to send a F&F payment which does not carry any PayPal protections… or ask a buyer to cover the fees because that is a violation of PayPal policy.

    Actually, if the buyer and seller both agree that a F&F payment is appropriate TalkBass surely doesn’t care.
     
  15. BASSPLAYERS4HIM

    BASSPLAYERS4HIM

    Oct 13, 2011
    Maryland
    Thank you...
     
  16. R&B

    R&B Both kinds of music: Rhythm AND Blues! Supporting Member

    A few notes about PayPal.

    —They are constantly “updating” their terms of service; updates are generally not for the benefit of anyone but PayPal.

    —While buyers are protected, there are new delays for sellers to receive funds. And a dishonest buyer can file for a refund for up to 6 months after a completed G&S transaction.

    —As stated above, PP is pocketing the fees on canceled transactions.

    —And…starting in January 2022, they will be reporting seller transaction data to the IRS for anything over $600/year (even one transaction). Currently, they report if over $20,000.

    # notafan
     
    bdgotoh and Robert Cecchini like this.
  17. Billyzoom

    Billyzoom Supporting Member

    Mar 1, 2011
    Bay Area
    Wish I’d thought of the “wheelbarrow full of pennies” option back when I was paying spousal support…
     
    Robert Cecchini and Relsom like this.
  18. Templar

    Templar Supporting Member

    That's disheartening, to say the least. Talk about intrusive over-reach. Especially when most individual sellers aren't making a profit by selling used personal items...items that were already taxed when originally purchased, I might add.

    Presumably, sellers will receive a 1099 from Paypal? I wonder if the IRS will consider this as "income" unless proved otherwise.

    Curious...when exactly, and by whom, was this scheme hatched?
     
  19. iiipopes

    iiipopes Supporting Member

    May 4, 2009
    First, it is not a scheme. It is standard IRS procedure for all transactions over $600.00. PayPal has only now finally come into compliance with IRS regulations that have been in place for all businesses for decades.

    Second, the IRS does not receive the 1099's. It is up to the issuer to issue them correctly and the recipient to process them correctly. So if there is no profit, there should be no worries, so long as the original receipts were kept and the seller is not subject to recapture of depreciation (and some other items beyond the scope of this thread). If an issuer gets audited, and the issuer's 1099's are questioned then the IRS may cross check the recipient.

    Third, all persons who gig and receive income, even if only $1 per year, should contact their tax advisors for advice on Schedule C income and expense from business. My friends (who happen to be business and tax lawyers) and I have done this for decades.
     
    31HZ and Murivan like this.
  20. BASSPLAYERS4HIM

    BASSPLAYERS4HIM

    Oct 13, 2011
    Maryland
    What about if it's for non- Compliance items....
    For instance, I have a whole bunch of guitars amps, combos...at home that I am trying to get rid of because I am cleaning my house......meaning personal Instrument items that I have acquired through many...years of musical projects....and gigs....
    Will be required to fill out that IRS 1999 form?
    Now, let's make it clear, I don't own no business, I'm just trying to sell some musical items, what is your thoughts about that??
     
  21. Primary

    Primary TB Assistant

    Here are some related products that TB members are talking about. Clicking on a product will take you to TB’s partner, Primary, where you can find links to TB discussions about these products.

     
    Oct 17, 2021

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