Zombie The Coronavirus Financial Thread (Personal, Local, National)

Think about how many people aren't filing correctly that now will have to.

 

Ebay is gonna 1099 you if you sell more than $600 worth of stuff.

https://pages.ebay.com/seller-center/service-and-payments/2022-changes-to-ebay-and-your-1099-k.html

• Starting on Jan 1, 2022, IRS regulations require all businesses that process payments, including online marketplaces like eBay, to issue a Form 1099-K for all sellers who receive $600 or more in sales.
• The new tax reporting requirement may impact your 2022 tax return that you may file in 2023. Starting in January 2022, look for emails and alerts from us that will help explain what’s changed, and what you need to do next.
• If you haven’t already given us your Social Security number (SSN) or Individual Tax Identification Number (ITIN), we’ll ask you to provide it once you reach $600 in sales.
• Since this information is required for all sellers with sales over a certain amount, if you don’t provide us with a SSN or ITIN, your payouts will be put on hold, your ability to list and sell on eBay may be restricted, and we may deduct backup withholding from future payouts.
• Before January 2022, you may have received a Form 1099-K for selling more than $20,000 and 200 transactions, or selling in states with reduced thresholds. A Form 1099-K for the year 2021 will be provided to you by Jan 31, 2022.

 

They will just not pay you. lol

 

Yep. Just think of how many people sell on those platforms that don't claim those sales on their taxes. Lots of resellers.

 

$600 though? Some people just selling some of their own shit to get rid of.

 

I think a lot of people underestimate how much the gig job economy is affecting workers. It's changing the game. Need money? Work for a few hours and literally get paid the same day.

 

I checked just now on Taskrabbit for someone to deep clean my kitchen and bathroom. Some are charging $80-120 an hour!

 

My step son does Lyft and Uber, just enough for a few days spending cash. Takes him 2-3 hrs to make $100 depending on driver incentives.

 

60% of which is corporations using the pandemic as an excuse to gouge customers.

So it should be closer to 3-4%.

 

https://www.businessinsider.com/shopping-at-nordstroms-discount-chain-rack-photos-2022-1?amp

Nordstrom Rack was once Nordstrom's greatest asset, now analysts say it's dragging the brand down. We visited three Rack stores to find out more

• Once considered the company's greatest asset, sales growth has slowed at Rack in recent years.
• Analysts say Rack has an inventory problem and suffers by being connected to a full-price brand.
• We visited three Racks to find out more

 

I gotta know BGD, do you have a ton of stock in Nordstrom or something? The only news you e posted in this thread has been about them. Does someone need to reset the algorithm?

 

Nordstrom rack is the economic barometer of our time.

 

There is no Nordstrom stock. It is a family owned business.

 

Well that's new.

 

In 1971, the company was taken public on NASDAQ.[11] It was moved to the New York Stock Exchange in 1999 under the ticker symbol JWN after John W. Nordstrom, its founder.[10]

https://en.wikipedia.org/wiki/Nordstrom