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unknown pleasures last won the day on May 2 2021
unknown pleasures had the most liked content!
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unknown pleasures reacted to a post in a topic: Selling records and the new tax law
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unknown pleasures reacted to a post in a topic: Selling records and the new tax law
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You know the old adage: one to keep sealed, one to listen to, one to sell… …and one to display in Urban Outfitters record frames, one to burn for warmth next January, one to pass onto your grandchildren, one to put under that short table leg to stabilize it and one to eat for roughage after the inevitable start of WWIII.
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The Smashing Pumpkins - Archival Releases
unknown pleasures replied to highfives's topic in Vinyl Collective Message Board
I still get sales tax in the US which is killing it for me - same reason I passed on that last release in the fall. -
Vinyl mount opinions?
unknown pleasures replied to Purple Buffalo's topic in Vinyl Collective Message Board
They don’t call it “the butcher cover” for nothing… -
Dischord – The First Six Records (6x7" boxset)
unknown pleasures replied to AlexH.'s topic in Vinyl Collective Message Board
I traded mine to a fool for a sack of corn. -
Selling records and the new tax law
unknown pleasures replied to crossedoutname's topic in Vinyl Collective Message Board
This is my whole point. Nearly every post you’ve made in this thread has been about how easy it is to write things off and I’m trying to warn people it isn’t so simple. -
Selling records and the new tax law
unknown pleasures replied to crossedoutname's topic in Vinyl Collective Message Board
This guy gets it. And this is directly from the IRS’s own guide to determining if you’re a business versus a hobby: In order to make this determination, taxpayers should consider the following factors: • Does the time and effort put into the activity indicate an intention to make a profit? • Does the taxpayer depend on income from the activity? • If there are losses, are they due to circumstances beyond the taxpayer’s control or did they occur in the start-up phase of the business? • Has the taxpayer changed methods of operation to improve profitability? • Does the taxpayer or his/her advisors have the knowledge needed to carry on the activity as a successful business? • Has the taxpayer made a profit in similar activities in the past? • Does the activity make a profit in some years? • Can the taxpayer expect to make a profit in the future from the appreciation of assets used in the activity?