|
Community Links |
Social Groups |
Pictures & Albums |
Members List |
Search Forums |
Advanced Search |
Go to Page... |
|
Thread Tools |
06-02-2021, 12:34 PM | #481 |
Stockings and heels life
Join Date: Feb 2009
Location: Portland, OR
Posts: 488
|
Quote:
If I didn't have collector's "morality" (and a good job) and someone told me I could easily make $80 just by ordering something for $20, it would be difficult NOT to do that. It's shady and ruins the fun of collecting but legal high profits for low effort is very appealing. At least in the old days resellers had to have a store or a street corner or something. Now you just need a screenshot of an order confirmation email and a UPS/Fedex porch pickup account to make a living...
Dedicated flippers will stick around but I think the casual "buy five or six to flip" crowd is going to think a little differently now. Selling under the 600 dollar mark to avoid the taxation isn't going to be profitable enough for the effort. |
06-02-2021, 12:37 PM | #482 |
He Who Remains
Join Date: Jun 2016
Location: Florida
Posts: 9,385
|
Quote:
We'll see how long it lasts. eBay has to report income of 600 or more for tax purposes now, down from something like 200,000.
Dedicated flippers will stick around but I think the casual "buy five or six to flip" crowd is going to think a little differently now. Selling under the 600 dollar mark to avoid the taxation isn't going to be profitable enough for the effort. That doesn't start until the 2022 business year, I believe. This also assumes scalpers will REALIZE it's going into effect. I think come spring 2023, some folks will have an "oh crap" moment.
__________________
~~~~~The Late Night Crew~~~~~ |
06-02-2021, 12:41 PM | #483 |
He Who Remains
Join Date: Jun 2016
Location: Florida
Posts: 9,385
|
Quote:
An unfortunate side effect of this, could be less and less people willing to sell off old GI Joe parts and accessories. I mean, if it is going to mean the difference of claiming self employment income or not, many folks may no longer bother. The market for vintage Joe parts is drying up fast enough already.
__________________
~~~~~The Late Night Crew~~~~~ |
06-02-2021, 12:50 PM | #484 |
Cobra Viper
Join Date: Jul 2020
Location: Denton, TX
Posts: 161
|
Quote:
We'll see how long it lasts. eBay has to report income of 600 or more for tax purposes now, down from something like 200,000.
Dedicated flippers will stick around but I think the casual "buy five or six to flip" crowd is going to think a little differently now. Selling under the 600 dollar mark to avoid the taxation isn't going to be profitable enough for the effort. |
06-02-2021, 01:08 PM | #485 |
Cobra Viper
Join Date: Jul 2020
Location: Canada
Posts: 257
|
Yeah, but I imagine that first tax bill is going to cause some sticker shock for a lot who didn't see it coming. Guess they'll just shift to Facebook marketplace, Kijiji and the like? Or formalize the business and start claiming deductions?
|
06-02-2021, 02:46 PM | #486 |
Cobra Viper
Join Date: Oct 2010
Location: california
Posts: 342
|
the limit is 20,000. not 200,000
|
06-02-2021, 06:41 PM | #487 |
Cobra Viper
Join Date: Jan 2018
Location: Florida
Posts: 1,486
|
Take me off the list. I have one coming from Wedge.
|
06-02-2021, 08:09 PM | #488 |
The Man You Know & Love
Join Date: Feb 2009
Location: In The Middle of a Late Night Crew Orgy
Posts: 28,212
|
|
06-02-2021, 10:26 PM | #489 |
Crimson Guard
Join Date: Jul 2009
Location: Illinois
Posts: 4,184
|
I’ll start on the next on the list in the next day or two. I need to get some things in order. Sorry for the delay.
|
06-02-2021, 11:49 PM | #490 |
Cobra Viper
Join Date: Jul 2020
Location: Canada
Posts: 257
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Figures Major Bludd | fireflyguy | G.I. Joe Customs Finished Projects | 3 | 04-23-2013 01:59 PM |
Figures Major Bludd | shakka85 | G.I. Joe Customs Finished Projects | 16 | 10-01-2011 11:07 AM |
Figures PoC Major Bludd and Bludd's Boys | Slaymaker | G.I. Joe Customs Finished Projects | 17 | 01-25-2011 10:51 PM |
Major Bludd.... | Ninjin | G.I. Joe Animation Discussion | 24 | 12-11-2010 02:14 AM |
Bludd!! My 25th Major Bludd Redux | Badgumbo | G.I. Joe Customs Finished Projects | 12 | 06-10-2008 12:42 PM |
|
|