Buy sell hold accumulate and enjoy

[Bigshot69]

My theory is if the tax rate on business/self-employment income were to decrease significantly you might see increased speculation across certain collectibles markets.

I think coins could benefit, but I know very little about grading and all the other nuances.

Comics have already seen significant growth mainly due to increased awareness from Disney marketing and movies.

I have a feeling cards could do very well in the intermediate term so probably not a bad time to be sitting on a hoard of Cobbs.

[KMayUSA6060]

Originally Posted by Bigshot69

My theory is if the tax rate on business/self-employment income were to decrease significantly you might see increased speculation across certain collectibles markets.

I think coins could benefit, but I know very little about grading and all the other nuances.

Comics have already seen significant growth mainly due to increased awareness from Disney marketing and movies.

I have a feeling cards could do very well in the intermediate term so probably not a bad time to be sitting on a hoard of Cobbs.

My thoughts exactly.

There will always be historians and baseball fans.

Too bad what you have pictured isn't worth much...

[savedfrommyspokes]

Originally Posted by Bigshot69

My theory is if the tax rate on business/self-employment income were to decrease significantly you might see increased speculation across certain collectibles markets.

Incorporating as an s-corp will greatly reduce this tax rate.

[Bigshot69]

Originally Posted by savedfrommyspokes

Incorporating as an s-corp will greatly reduce this tax rate.

Based on what I've read this would seem to be where the legislation in Washington is headed. That said, after reading several articles I'm unsure how sole props, LLCs (Sole Member), and 1065 partnerships would be impacted? Perhaps maybe there is a CPA on here who would kindly provide their $.02?

[rocketman]

25 Green T206 Cobbs all with hindu backs - WOW, very impressive.

As a very aggressive t206 collector for the past two years, I have seen the market continue to appreciate steadily. Not just HOFs, commons in all conditions as well.

My observations from the last 2 years of White Plains cards shows indicates very strong demand - and we all know there are no bargains at shows.

Just my 2 cents - but again, that is a really neat Cobb run...

[ullmandds]

Originally Posted by rocketman

25 Green T206 Cobbs all with hindu backs - WOW, very impressive.

As a very aggressive t206 collector for the past two years, I have seen the market continue to appreciate steadily. Not just HOFs, commons in all conditions as well.

My observations from the last 2 years of White Plains cards shows indicates very strong demand - and we all know there are no bargains at shows.

Just my 2 cents - but again, that is a really neat Cobb run...

those green cobbs DO NOT all have hindu backs!!!!

[frankbmd]

27 Green Cobb
35 Hindu Backs

Pete, you beat me by a nanosecond.

I went back to double check my count before hitting submit.

There are also portions of two SGC gaskets below the bottom row, which was my original tip off.

[MR RAREBACK]

pic

[Pat R]

Originally Posted by rocketman

25 Green T206 Cobbs all with hindu backs - WOW, very impressive.

As a very aggressive t206 collector for the past two years, I have seen the market continue to appreciate steadily. Not just HOFs, commons in all conditions as well.

My observations from the last 2 years of White Plains cards shows indicates very strong demand - and we all know there are no bargains at shows.

Just my 2 cents - but again, that is a really neat Cobb run...

The green Cobb wasn't printed with a Hindu back.

[MR RAREBACK]

pic

[rocketman]

No green Cobb Hindus? Thanks for the heads up. That's why I joined this board - I learn something everyday.

The rare backs are all awesome and I believe they demand for them will only increase.

Mr. Rareback has some seriously nice cards.

I own one Uzit.

[garymc]

LOL....I think you know exactly what you have ! If your showing them off, I am totally impressed. Two awesome photo's !!!!!!

[savedfrommyspokes]

Originally Posted by Bigshot69

Based on what I've read this would seem to be where the legislation in Washington is headed. That said, after reading several articles I'm unsure how sole props, LLCs (Sole Member), and 1065 partnerships would be impacted? Perhaps maybe there is a CPA on here who would kindly provide their $.02?

My CPA has for years has encouraged me to take this route....my wife has been looking for job opportunities out of state for years also, so I have been reluctant to shell out for the initial cost to set up in my state and then relocate soon after. Each year my CPA lets me know how much I could have saved as an s-corp versus a sole proprietorship and this year it would been about half of what I owed.

To tie this back to the theme of the thread, at some point down the road (hopefully a long time) before I begin to sell off my collection, this is the route I intend to take(if all the current legislation is still in place).

[uniship]

To the guy who started this thread, that's one helluva photo. Respect.

[T206Collector]

I can see a safe deposit box in one of the photos, so I'm guessing these are the photos from "bank visit" day. I keep all of my signed T206s (and even some of the non-signed ones) at the bank in a similar fashion. But, you have to get high quality scans of the cards before you do that. Otherwise you will certainly miss them and have to take more trips to the bank!

[ajjohnsonsoxfan]

Originally Posted by T206Collector

I can see a safe deposit box in one of the photos, so I'm guessing these are the photos from "bank visit" day. I keep all of my signed T206s (and even some of the non-signed ones) at the bank in a similar fashion. But, you have to get high quality scans of the cards before you do that. Otherwise you will certainly miss them and have to take more trips to the bank!

Ugh. I think I would quit the hobby if I ever had to keep my cards in a bank vault. (no offense to anyone that does..I get it. But I just like to look at the beauties too much and would use an insane amount on gas getting to and from the bank.) :-)

[BobC]

Originally Posted by savedfrommyspokes

My CPA has for years has encouraged me to take this route....my wife has been looking for job opportunities out of state for years also, so I have been reluctant to shell out for the initial cost to set up in my state and then relocate soon after. Each year my CPA lets me know how much I could have saved as an s-corp versus a sole proprietorship and this year it would been about half of what I owed.

To tie this back to the theme of the thread, at some point down the road (hopefully a long time) before I begin to sell off my collection, this is the route I intend to take(if all the current legislation is still in place).

Not sure what state you are currently in, or what state it is that your wife is looking to get a new job in either. In any case, the cost for initially setting up a business in most states isn't really much at all, maybe a couple hundred bucks at most, and you can generally do it yourself online through the Secretary of State's office for where you are currently residing. And then if you ever do end up moving to another state, you can probably just contact the Secretary of State's office in your new locale and ask to register the current business so it can now operate in your new home state. No need to start a brand new business or to shut down the old one at all. And that would initially only cost you a couple hundred dollars or so at the most to register in the new state also.

Of course there are other factors to consider also, such as the type of business/work you are going to have/be performing, are there going to be employees, are you going to have inventory or other assets, etc. and so on. You should always consult with a qualified professional before doing anything like that of course.

Now, as for your CPAs specific idea about saving money by becoming an S-Corp instead of operating as a sole proprietor, I assume he's referring to the fact that you have to pay up to 15.3% of your net income as self-employment tax (social security and Medicare) as a sole proprietor. Whereas, if you elect to become an S-Corp, your distributive share of income from the company is not subject to self-employment taxes at all, right? Just be careful, the IRS has talked about his for years and knows that people purposely do this to escape paying in the self-employment taxes. They supposedly are on the lookout for this and always threaten to start cracking down on companies that do this, especially when the owners are actually performing services/work in the business that otherwise should be subject to self-employment taxes.

BobC

[BobC]

Originally Posted by Bigshot69

Based on what I've read this would seem to be where the legislation in Washington is headed. That said, after reading several articles I'm unsure how sole props, LLCs (Sole Member), and 1065 partnerships would be impacted? Perhaps maybe there is a CPA on here who would kindly provide their $.02?

The supposed Republican plan is to significantly reduce the top tax rates for all businesses, not just S-Corps, down to maybe a 15%-20% max tax rate from the current 39%-39.6% max rates now existing for corporate/personal returns. This would supposedly include LLCs, partnerships, and even I believe sole proprietorships, not just corporations and S-Corps. The plans as outlined have just been very general though without any real detail. Not knowing the specifics and details, it is too early to really tell how each and every business type will end up being affected. So don't go running out and doing anything yet till we see what actually ends up getting passed as new tax legislation one day, if anything.

BobC

[Bigshot69]

Originally Posted by BobC

The supposed Republican plan is to significantly reduce the top tax rates for all businesses, not just S-Corps, down to maybe a 15%-20% max tax rate from the current 39%-39.6% max rates now existing for corporate/personal returns. This would supposedly include LLCs, partnerships, and even I believe sole proprietorships, not just corporations and S-Corps. The plans as outlined have just been very general though without any real detail. Not knowing the specifics and details, it is too early to really tell how each and every business type will end up being affected. So don't go running out and doing anything yet till we see what actually ends up getting passed as new tax legislation one day, if anything.

BobC

Thank you, Sir!