Taxes and Auction Site Question

[russkcpa]

Originally Posted by BRoberts

Especially when you post on a public message board how you plan to defraud the government.

IRS Agents, FBI, DHS, etc monitor all of social media. They would like nothing better than to send someone up the river so that all of the Net54 family gets the message.

Starting a thread basically asking how to avoid reporting income is not smart.

[lug-nut]

Originally Posted by russkcpa

IRS Agents, FBI, DHS, etc monitor all of social media. They would like nothing better than to send someone up the river so that all of the Net54 family gets the message.

Starting a thread basically asking how to avoid reporting income is not smart.

It's research on 'how to run an honest business'...hardback to hit the shelves summer 2021

[Jewish-collector]

Sometimes you just gotta pay the IRS and say WTF

[buymycards]

You can afford a card that is worth more than $20,000? Pay your damn taxes.

[Michael B]

Sorry, but somehow his screen name seems very appropriate.

It is also what I listen to from my wife. Her portfolio throws off enough so that without working she makes about the same as I do or more. She complains that she has to pay quarterlies. It does not quite sink in that she is making free money and she has to pay the taxes.

[Casey2296]

Yes, we should all pay our taxes. But let's not lose sight of the horrendous job local, state, and federal governments do in maximizing our hard earned money for the greater good. It's a broken bureaucratic gridlock nightmare of inefficiency. They will never be satisfied and their elitist "pigs to the trough" attitude is insulting and disrespectful to the working class man and woman.

[buymycards]

Originally Posted by Casey2296

Yes, we should all pay our taxes. But let's not lose sight of the horrendous job local, state, and federal governments do in maximizing our hard earned money for the greater good. It's a broken bureaucratic gridlock nightmare of inefficiency. They will never be satisfied and their elitist "pigs to the trough" attitude is insulting and disrespectful to the working class man and woman.

When I woke up this morning I was happy to hear the snow plow going by my house. I used the public road to drive to run my errands. The police car drove past my house, and the rescue squad crew is on call. The military is protecting us. I could go on and list many more uses for our tax money, but you get the idea. And, let's not forget the Post Office (I know-they are have problems), but they don't use a nickel of tax money.

Perhaps you should run for a political office and get things straightened out, but most people would rather complain than to try to help.

[Bobbycee]

Originally Posted by Casey2296

Yes, we should all pay our taxes. But let's not lose sight of the horrendous job local, state, and federal governments do in maximizing our hard earned money for the greater good. It's a broken bureaucratic gridlock nightmare of inefficiency. They will never be satisfied and their elitist "pigs to the trough" attitude is insulting and disrespectful to the working class man and woman.

Right on Phil. Some of us collectors have serious questions and have nice collections while not being well off. We're not "Dumb SOB's"

[lug-nut]

Originally Posted by buymycards

You can afford a card that is worth more than $20,000? Pay your damn taxes.

Billionaires dont become billionaires by giving away their money until they're billionaires

[joshuanip]

Originally Posted by lug-nut

Billionaires dont become billionaires by giving away their money until their billionaires

If baseball cards makes up billionaires we got bigger problems... Weimar style

[joshuanip]

Back to topic, make sure you guys document your cards in your wills and include in your estates, that way your decendants would get the step up and not get hit with the appreciation.

Works for your wives too. If I pass, my wife gets to realize the appreciation tax free. I’d be sad, but hey I’m dead so what...

Caveat, each state has different estate tax exemptions and Biden is eyeing the 22m tax exemption that expires in 2025. So not exactly set and forget, you may want to keep up with changes to plan accordingly.