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PayPal Q

Discussion in 'Members' Lounge' started by CRX-YEM, Jul 29, 2003.

  1. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

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    Has anyone here that used PayPal, and signed up for the money market fund ??
    in your own opinion should I do it, I'm not looking for investment advise, just whether it's worth it or not.
     
  2. Tonyd0821

    Tonyd0821 Banned

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    dont
     
  3. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

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    any reason behind your answer ??
     
  4. randerson165

    randerson165 Senior Member

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    the government can track your money market if you submit your SS#. Meaning they could make you pay tax !!
     
  5. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

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    I'm aware of that.
    but I just did a small search about Paypal and it looks like they are up to their asses with problems from the FDIC commision and the Banking industry itself. after some of the read I might switch to citibanks "c2it"
    which works just like paypal except your funds are FDIC insured.
     
  6. phunky.buddha

    phunky.buddha Admin with a big stick Admin VIP

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    Uhh... you're supposed to pay taxes on gains.
     
  7. dohcvtec_accord

    dohcvtec_accord WRX Sellout

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    :lol: :spin:
     
  8. randerson165

    randerson165 Senior Member

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    I always pay taxes for the money I recieve from selling on Ebay. "wink wink"
     
  9. Tonyd0821

    Tonyd0821 Banned

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    first off and foremost, as a private citizen ( i think most companies as well, but dont quote me) can sell whatever they want on the internet and NOT pay taxes
    AS LONG as the items are sold inter-state.

    otherwise, from your state to your state you would have to pay taxes upon the item sold.



    but here's my moral dilemma. WHERE THE FUCK is all the money i paid out in taxes for the 4 years i was an electrician making 60,000 plus a year going for?

    1) did the fix the fucked up roads by my house?
    2) did they do anything to alleve the fucking up congestion on the 405 fwy?
    3) did they do anything to improve the college i went to ?


    umm no.


    they dont give a fuck about me....


    ERGO:

    <<insert next logical phrase here>>

    <<edit>> i apologize for the typos and syntax errors in this post. im too busy with other shit to deal with it....but you get the gist of what im trying to spit out...
     
  10. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

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  11. Slo86GT

    Slo86GT Super Moderator

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    Buahahhahaha! Awesome. I'm going to refuse to pay sales tax next time I pick up groceries. :blink:

    Sorry, dude, It don't happen.
     
  12. swanny

    swanny Senior Member

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    some welfare recipiant got a new FUBU shirt and a pair of jordans
     
  13. phunky.buddha

    phunky.buddha Admin with a big stick Admin VIP

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    Of course you can sell stuff online and not pay taxes- you already paid sales tax on the items you sold. Now interest on money that's sitting in a bank account- that's new income. You have to pay taxes on that.
     
  14. randerson165

    randerson165 Senior Member

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    I live in a tax free state and i don't pay sales tax on anything.
     
  15. pissedoffsol

    pissedoffsol RETIRED

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    Dennis, the C2it program sucks. Why? No one else uses it. and that's really the only reason.

    PayPal is NOT Federally Insured. However, they ARE insured by Travelers Ins Co right here in Hartford. And who keeps $100,000 in their paypal account anyway?

    Frankly, I'm loving paypal. I keep about 2-300 in it all the time, earning 1-1.5% interest on it. Thats twice as much as my savings account with 2k in it is doing. Just be careful wiht it. Don't abuse it.

    As far as taxes go, all intrest is noted as income. It is up to the bank/firm to send a 10-99 i belive the form is to show a gain by intrest from them. there is a certain amount that needs to hit in order for them to send you an earned income form. With intrest being so shitty these days, and me not saving very much :p I didn't pay more than 10 bucks last year in taxes on the damn interest.

    I love it though... you get 1% intrest on a good account, and when tax time comes, you pay out 35% on that 1%.
    So stupid. :bash:

    That's why i'm not saving much, but rather investing it in tax free items- such as the coins i continue to buy. The odds of their value going down is slim to none. and its a tax free sell out when i want to.
     
  16. phunky.buddha

    phunky.buddha Admin with a big stick Admin VIP

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    Very true. B's got the game down. I just invest in things that lose value, like cars.

    :lol:
     
  17. CRX-YEM

    CRX-YEM Super Moderator Moderator VIP

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    so B. you would say to set up the money market account on paypal?
     
  18. pissedoffsol

    pissedoffsol RETIRED

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    why not. it doesn't hurt :)

    I'm currently getting 1.2%
     
  19. saturn_boy96

    saturn_boy96 88 C1V1C 53D4N DR1V3R

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    word.
     
  20. phunky.buddha

    phunky.buddha Admin with a big stick Admin VIP

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    Well, that and my 401k... but all those shares of stock HAVE to go up at some point- they can't get any lower than they were last year!

    :lmao:
     
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