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One of my associates goes to the Caribbean every winter from the second week of January until the end of March. It’s part of his agreement with the company, it’s no big deal.

When I asked how it was that he was able to accomplish that, He explained to me that his wife had an eBay business. And it was all PayPal.

Here is where the story got interesting.

It seems, she spends all of her time shopping thrift stores and rummage sales in the upscale suburban communities of south eastern Michigan.

She focuses on seasonal change over and leather goods, i.e., purses and shoes.

Her cash income is well into six figures.

As a person who pays his fair share of taxes, and doesn’t engage in elaborate schemes to avoid them, my preference is that those transactions are taxable.

It has become pretty obvious to me that the non-tax paying, income earning segment of our national workforce is growing exponentially.

Heck, you can go to the beach nowadays, and you will see entire families rolling coolers along selling bottles of water for two dollars apiece or more. Or the endless parade of restaurants that are cash only, because their computers are down.

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gubmint dont need to tax no mo...watt wid unlimited national debt an awl dat...


advocating doublegon happiness...via 90/30 guidelines...
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Edd your a genius you solved all the problems all the time with your response

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Clapper

Agreed

Your acquaintance should pay tax on what she is doing as she is making a living or at least many thousand of dollars doing it. For her it’s a real business or that is how I see it


But for someone who is not engaged in the business I feel there should be a cut off point

John


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Originally Posted by ClapperZapper
....Her cash income is well into six figures.

As a person who pays his fair share of taxes, and doesn’t engage in elaborate schemes to avoid them, my preference is that those transactions are taxable.

It has become pretty obvious to me that the non-tax paying, income earning segment of our national workforce is growing exponentially.

Heck, you can go to the beach nowadays, and you will see entire families rolling coolers along selling bottles of water for two dollars apiece or more. Or the endless parade of restaurants that are cash only, because their computers are down.
I believe the story here refers to six hundred dollars, not six figures. As to your non tax paying income earning segment, if you build it, they will come. Some will exploit the notion, but most will be forced into cash transactions for a few grocery items, or more likely their illegal drug addictions. Two thirds of the country has supposedly been reduced to living paycheck to paycheck, not on Caribbean vacation.

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Originally Posted by ClapperZapper
....As a person who pays his fair share of taxes, and doesn’t engage in elaborate schemes to avoid them, my preference is that those transactions are taxable.

It has become pretty obvious to me that the non-tax paying, income earning segment of our national workforce is growing exponentially.

Heck, you can go to the beach nowadays, and you will see entire families rolling coolers along selling bottles of water for two dollars apiece or more. Or the endless parade of restaurants that are cash only, because their computers are down.

I'm sorry but I can't agree with this, or anything else CZ said about hounding Ebay sellers for additional income taxes. My reason is simple. Our Government obviously does not really need the money.

If they were really short of money, they would be going after very big bucks in Income Tax they are losing to the Mexican Drug Cartels who are flooding our open borders with Billions of dollars of cocaine, heroin, fentanyl, etc.

If they were really short of money, they wouldn't be paying the salaries and benefits of U.S. Customs and Border Patrol Agents, while preventing them from doing what they are paid to do.

If they were really short of money, they wouldn't be giving free cell phones with paid service to illegal immigrants who broke the law to enter the U.S. by the millions. They wouldn't be giving them free medical care, public schooling, or Welfare either.

I understand that people with cash only businesses should pay taxes like the rest of us. But I don't like the idea of persecuting them just because they are working hard, while others get free stuff. I feel I pay way too much to subsidize able-bodied people who pay nothing. But would our Liberal Democrat friend also say that those who are collecting Welfare, Food Stamps, AFDC, SNAP, SSI, WIC etc. should also pay taxes on that income... which has amounted to Trillions of dollars over time??? Shouldn't they all have some skin in the game? Do they not use our roads bridges, schools, and taxpayer funded parks and infrastructure?

Would those folks on Welfare vote for the Party that is spending us into oblivion if a big chunk was taken out of their benefits to pay for all of it?

And how about Student Loans? The Democrats are pushing for unpaid Student Loan forgiveness, and the freebie would amount to $1.75 Trillion. Nobody is talking about making that freebie taxable income. Nor are they concerned about those who would foot the bill.

A final though is this. Let's say I sell something like my gun collection. Now we're almost on topic. I have no way to prove the Basis Cost on many of them. When you can't prove Basis Cost, the entire amount realized becomes taxable income. And much of the increase in value, which would be taxable income, could be attributed to Inflation cause by wasteful and reckless spending and massive debt, and to the increases driven by fear that anti-gun Democrats may restrict or ban them. Why should I be penalized for that?

That's one reason Ronald Reagan called Inflation the cruelest tax of all... one that affects the poor, and middle class, and retirees on fixed incomes the most. The last time we had very high Inflation, it was due to Democrat policies... just like it is now.

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A true sign of mental illness is any gun owner who would vote for an Anti-Gunner like Joe Biden.

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If you are liquidating a business, even if it’s years later, you have basis.
When I sold a pallet of face masks to a govt entity, even though the business had been gone for years, I had basis.

People can whine about tax law compliance all they want, but at the same time there comes a point in time when a line has to be drawn, and the law imposed on the other side of it.

No matter the scale, if your effort was to extract value from the item, if you are selling it for more than your basis, above a certain figure it is taxable.

But like many things in life, it’s always the other guy who is the bad guy.

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only a moron pays more tax than he has too...

herd dat sum ware, not dat long ago...


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Originally Posted by ed good
only a moron pays more tax than he has too...

…Or drags his sorry arse to some shyte Teamster job in an Oldsmobile…


___________________________
Colorado vs Edmonton
Tampa Bay vs NYR

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Originally Posted by lonesome roads
Originally Posted by ed good
only a moron pays more tax than he has too...

…Or drags his sorry arse to some shyte Teamster job in an Oldsmobile…


___________________________
Colorado vs Edmonton
Tampa Bay vs NYR

Hey, you’re back. We were all wondering if the Rouge caught fire.

https://www.fox2detroit.com/news/in...ars-later-life-has-returned-to-the-water

Best,
Ted

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I mean, again.

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