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  #11  
Old 09-12-2018, 10:31 PM
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Lorewalker Lorewalker is offline
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Originally Posted by BobC View Post
I've been a CPA for about 40 years in Ohio, and have butted heads and been involved in sales tax audits in both Ohio and New York over the years, as well as advising people and businesses about it over the years. Some of the rules and nuances you run into regarding sales taxes are absolutely ridiculous. Sales taxes aren't going away either, and with all the technology and connectivity and internet access everyone now has, it is only going to get worse. Everyone is slowly being forced to do everything online and over the internet, making it so much easier for the various government tax authorities to watch and follow what everybody is doing.

You know, I've seen and heard all the complaining by people about sales tax in various posts and threads on this site over the years and how it isn't fair when it gets taxed to people in one state and not another, and so on. There is actually a pretty reasonable way collectors could get around it and end up possibly being exempt from sales tax altogether. It would involve a little leg work and some ongoing activity and action, but wouldn't be impossible to overcome.

I'm a firm believer in the old saying - "Tax evasion is a crime...tax avoidance is your God given and constitutional right!"

I'm buried right now trying to get returns done for businesses by the 9/17/18 extended due date, otherwise I could get into it some more. I've thought about starting a thread to explain how people who complain and don't like the sales taxes can possibly get around them entirely. Maybe after I get through the filing deadline and have some more time.............we'll see.
Very valid point about how some bidders, depending on where they live, will pay sales tax while others won't, placing those who pay it at a disadvantage. I suppose one way around sales tax (national or local) would be for collectors/buyers to apply for resale licenses. Most of us don't just buy so maybe some of us could justify what we do as a side business? Downside is that you save the sales tax but if you do well selling, the income tax will be several times higher.

Again, appreciate your input on this topic from an accountant's point of view and thanks for sharing thoughts again during a busy time. I am sure once this national sales tax rolls out it will be more clear.
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  #12  
Old 09-13-2018, 07:30 AM
basesareempty basesareempty is offline
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I know most of the material going through these larger auction houses are higher end items but Does anyone think this may bring about a resurgence of the local/regional card show where Cash is King?

Bob
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  #13  
Old 09-13-2018, 09:49 AM
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Originally Posted by basesareempty View Post
I know most of the material going through these larger auction houses are higher end items but Does anyone think this may bring about a resurgence of the local/regional card show where Cash is King?

Bob
Only if those shows start selling whats in the auctions...
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  #14  
Old 09-13-2018, 10:33 AM
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As someone who's been paying sales tax to Heritage for several years, it'll be nice to someday have all the bidders back on an even playing field -- or nearly even I should say. I guess the tax rates still differ from state to state.
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  #15  
Old 09-13-2018, 11:55 AM
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Yeah this pretty much cements my non-participation. Another 10% just to be able to compete is hard to justify on my end when there are (for now anyways) so many other tax free options.

It does pique my interest in researching a resellers licence, since there are surely more taxes in more states for more AHs to come.
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  #16  
Old 09-13-2018, 12:51 PM
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Originally Posted by darwinbulldog View Post
As someone who's been paying sales tax to Heritage for several years, it'll be nice to someday have all the bidders back on an even playing field -- or nearly even I should say. I guess the tax rates still differ from state to state.
Actually it is a even playing field, just most people are a little dishonest and are not paying their states use tax and applicable municipal tax.

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Originally Posted by conor912 View Post
Yeah this pretty much cements my non-participation. Another 10% just to be able to compete is hard to justify on my end when there are (for now anyways) so many other tax free options.

It does pique my interest in researching a resellers licence, since there are surely more taxes in more states for more AHs to come.
As someone who has had a sales tax license(resellers) it is way easier to just pay the taxes on your hobby purchases. If you do your own taxes and your time means nothing then maybe it would be worth it.
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  #17  
Old 09-13-2018, 03:27 PM
tschock tschock is offline
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Quote:
Originally Posted by darwinbulldog View Post
As someone who's been paying sales tax to Heritage for several years, it'll be nice to someday have all the bidders back on an even playing field -- or nearly even I should say. I guess the tax rates still differ from state to state.
Yes, they do. Regarding an 'even playing' field. What is your state income tax rate in FLA again? Care to 'even that out' as well?
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