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Just got $11,000 in paypal, those bastards took $400 in fees?

Discussion in 'Site Flipping' started by Dresden14, May 28, 2011.

  1. Dresden14

    Dresden14 BANNED BANNED

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    So read the subject, sold a site for $11k but yet they took dam near $400 in fees. Is it cheaper if he were to select product, service, gift, etc? Id like to know this for future reference,
     
  2. positivenote

    positivenote Regular Member

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    stop complaining dude..that 10,600 in the pocket..go celebrate.
     
  3. toyo

    toyo BANNED BANNED

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    congrats on your sale. Personal accounts don't get fees, business one does.
     
  4. m_zec

    m_zec Jr. VIP Jr. VIP Premium Member

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    get that 10400 off your paypal before they limit your account and take it all :O :D
     
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  5. kikiriki

    kikiriki Power Member

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    Just a question about site flipping.
    So after paypal took $400 from your 11k deal you are now left with $10,600 right?
    Do you need to pay TAX as well for the $10,600? or is flipping websites TAX free?
    Please explain me that.
     
  6. easy123

    easy123 Registered Member

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    that a good sale :) . Don't bother about fee
     
  7. rs pwner

    rs pwner Regular Member

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    im very sure as long as you make over $600/year you have to pay tax.
     
  8. suga051982

    suga051982 Regular Member

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    All the accounts in paypal are subject to some type of fees. This really sucks ass. It sounds like you got hit with 3.9%. I am not sure if there is any way around this. On the up side, the fees are tax deductible
     
  9. MadeMan

    MadeMan Newbie

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    This.
     
  10. ritesh

    ritesh Senior Member

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    you should get the payment via Masspay that way no fees will be deducted.
     
  11. kikiriki

    kikiriki Power Member

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    So can anyone tell me if there are any TAX when you flip websites?
     
  12. wahidpolin

    wahidpolin Regular Member

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    off topic... what was the monthly revenue of the site?
     
  13. Scripteen

    Scripteen Elite Member

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    If someone sends money as gift then no fees but he doesn't have the option of opening a dispute. Safe for the seller but risky for the buyer so you can't easily find a buyer that will agree on the "Gift" option.
     
  14. acotut

    acotut Elite Member

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  15. ba55meister

    ba55meister Registered Member

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    what did you expect? 3.5% is a standard paypal fee.
     
  16. gamingmaster42

    gamingmaster42 Regular Member

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    There is a maximum fee of $1 if paying thru masspay i believe.
     
  17. Starcodes

    Starcodes Regular Member

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    dude enjoy your bread stop complaining especially when the economy is still fucked up right now take that money and run qiick:D
     
  18. mcnasty

    mcnasty Registered Member

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    It doesn't matter if its service or goods bro. The fee is still the same. Main purpose for that is for them to looking into it just incase a claim is brought up. Goods can be verified by a tracking number. Services not so much.
    I'm not sure how the donation feature is with fees but maybe someone else here can enlighten you on that feature.

    For your protection in the future with site flipping using paypal. I would NOT recommend picking goods. The Best option is to REQUEST MONEY FOR SERVICES.
    If the person you sold the site too purchased it under GOODS, and they want to be a faggot, they could easily contact paypal. Say they never got the goods. Paypal would contact you and ask for the shipping number you got when you sent the goods. You would tell them it was a website and it was internet goods. No real hard proof. They would refund the money. You lost the money. You lost the site. Now you need to spend $10,000-$20,000 to hire a private investigator to find the dude who stole your money, take him to court, travel expenses to meet in court, etc etc etc. and its just a long ass process! STAY AWAY FROM GOODS ON SITE FLIPPING!

    As for losing $400...Not to bad, just sell a site for $11,400 next time or use Direct Deposit!
    Hope this helps!
     
  19. Shabaoth

    Shabaoth Registered Member

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    Yup, over $600/year... tax buddy.
     
  20. Jonny Quick

    Jonny Quick BANNED BANNED

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    I agree, but with no smilie face. Under no circumstances would I leave that money under PayPal's control. Not for one minute.