PSA: Don't swipe recklessly for others

[CHEAPAVEDA]

e-check has nothing to do with paypal. its a check that you print from ur email. its no different than if they were to send you a check in the mail

oh ok. has anyone had any IRS form produced as being part of a buying group ? just wondering if I have to report anything. Thanks!

[gingyguy]

oh ok. has anyone had any IRS form produced as being part of a buying group ? just wondering if I have to report anything. Thanks!

if ur one of those people that report income - this would be included under that . MYS buying group gives a 1099 upon request

[Redbull3]

Here we go .. the classic buying group tax discussion that pops up in whatsapp every once in a while

[ChaimMoskowitz]

Here we go .. the classic buying group tax discussion that pops up in whatsapp every once in a while

Not sure what the discussion would be.

[gingyguy]

Not sure what the discussion would be.

+1

[a good yeshiva bachur]

Do any of these groups do direct deposit?

[grodnoking]

oh ok. has anyone had any IRS form produced as being part of a buying group ? just wondering if I have to report anything. Thanks!

You have to report money earned, obviously. Sole proprietor, take money earned, minus money spent - what you made is what you tax. Of course you'll run into issues such as best buy rewards paying for some items, do you need to pay taxes on that and such...

[grodnoking]

Do any of these groups do direct deposit?

Some if you order enough will do an ACH.

[Mootkim]

Do any of these groups do direct deposit?

If you are around the Five towns there is a guy that does it in FR (on a much smaller scale) and pays you via DD.

[Redbull3]

Do any of these groups do direct deposit?

Yes I'm in a group that does ACH, not sure if they are looking to grow or not

[Mount Scopus]

It seems that MYS have updated their terms. They just sent this to all their members (which I'd say is pretty fair):

Important Information:

Any item that MYS Buying Group broadcasts for you to purchase, is guaranteed by MYS that we will purchase that item at the posted price.

Understand, however, that often times this commitment to you comes at a price to us, as the value of these items fluctuate on the market.

With that, we are putting forth the following terms:

MYS Buying group is committing to purchase any item that we broadcast for up to 10 days from the last time that item was posted unless specified differently.
 
HOWEVER, we reserve the right to refuse these from buyers who are not frequent buyers for MYS Buying Group. This will be determined by an admin at the time of drop off/pickup.

In order for the buying group to be a successful venture for all of us, loyalty is key, and it must be mutual.

We are committing to take your items, but we will not become a "Dumping Ground" for buyers to bring merchandise that is being refused by the buying groups which they frequent.

We appercaite your understanding and look forward to continued business with you.

[Afrages6]

It seems that MYS have updated their terms. They just sent this to all their members (which I'd say is pretty fair):

Besides for the part where you won’t know if they are going to take it until the pick up/drop off. They should have a clearer system.

[grodnoking]

Besides for the part where you won’t know if they are going to take it until the pick up/drop off. They should have a clearer system.

Every group dislikes the one or two time buyer

[Redbull3]

I didn't understand that message. At first I thought they are guaranteeing their price for 10 days but on closer reading it seems that even if it's within the 10 days and there is no message saying "stop buying xyz" it still may not be accepted at their discretion. I'll text an admin. They lost me until/unless that is clarified.

[davidrotts63]

I didn't understand that message. At first I thought they are guaranteeing their price for 10 days but on closer reading it seems that even if it's within the 10 days and there is no message saying "stop buying xyz" it still may not be accepted at their discretion. I'll text an admin. They lost me until/unless that is clarified.

Simple, you have 10 days from when its posted.
If you are dumping products that lost value on them, it's a different story.

[mmgfarb]

Simple, you have 10 days from when its posted.
If you are dumping products that lost value on them, it's a different story.

Define the difference between dumping products and just being a little behind on your dropoffs.

[Redbull3]

Simple, you have 10 days from when its posted.
If you are dumping products that lost value on them, it's a different story.

It shouldn't be different - they should broadcast "stop buying" and if it's purchased after that point then there is no guarantee but before that point yes guarantee. As it stands now, there are no guarantees even 1 day later?? I just focus on buying, it makes no sense to put that onus of keeping track of resale market on the buyers imo.

[mmgfarb]

Buying groups are dying, I think they're just trying to stop hemorrhaging money for things that they don't have to.

[grodnoking]

Buying groups are *evolving, I think they're just trying to stop hemorrhaging money for things that they don't have to.

FTFY

[mmgfarb]

FTFY

Oh please do explain that to me.