Khnud wrote:So technically if you have a garage sale, you need to pay income tax on all items sold there too? Even kids selling their toys to the neighbour's kids?
As a Swede, who is used to very high taxes, this makes little if no sense to me. As you say, it's totally impossible to control. Laws that are completely ungovernable should be either altered or removed, in order to improve the efficiency of the government. My two cents.
Makes me curious though, if I sell +20K on ebay.com will Paypal report me to the IRS even though I'm not an American?
I would think Not since you dont have a SS# in the USA or an address.
You have to make X total for the year before you pay tax. so No a little kid selling toys does not have to pay tax. BUT a person with a job who is already paying taxes has a garage sale and makes money then YES you are supposed to pay tax on that money. AND you cant have more then X amount on Garage sales a year before they say it is a Business and you get taxed even more. Also in the USA I have to pay Federal Tax and State Tax (Not all states have Tax) but GA does, Once you are declared a Business they add a local County Tax.
My uncle is a CPA and partner at his firm and I highly doubt even he claims the income he makes from garage sales
In fact I'm quite sure practically no one reports such income, but they'll certainly claim deductions on the crap that doesn't sell so they donate to goodwill.
I'm just saying thats what the law states, Not the folks do it.
Have you ever been to a Record convention when the IRS shows up looking for your Tax ID #?? I've seen this twice it the past 25 years but it does happen.
I have also been at 2 shows when the Fed's show up looking for Bootlegs. And have confiscated 1000's of Records/CD's/Videos....
How do the Feds identify bootleg records? Just curious as it seems a lot of collectors can't even tell the difference at times. I mean some guy selling DVD-Rs in a pawn shop is pretty obvious but it seems crazy to me the US gov't is out crate digging looking for bootleg LPs.
I don't doubt your word as you certainly know a lot more about this sort of thing than I do but it just seems absurd. Your tax dollars well spent
What happen was, they walked around the show and if they saw what they thought was a boot they made note (Things like older TMOQ) are pretty easy to tell. Live shows are easy I am NOT talking Solar Eagle.
Then they came in and just put a tarp over your whole table. If they could tell you had 1 boot. Thay sat there and wrote you a ticket and took ALL your records Boots or not. you had to go and Pay the fine and Pay to get your records back (this took over 6 months) But yes folks got back there records (the ones determend to Not be boots)
Like I said I saw this twice once at the Texas Austin Show and once in PA
That is why most shows stopped having folks selling videos in the mid 90's
Sure a bargain (but doesn't beat my 1,99 $ copy), but I think the two 1 track 12 Inches are MUCH better and heavier. The 7" is a story of it's own. I'd like to hear the complete unreleased album ...
Anyone looking for OBSCURE German Steele check this out. Quite Decent sounding 7" record here . I have personal copy but if you're into German 80's metal Buy it ( and Ignore Hard Rock tag on Discogs) :