gmoney Posted January 8, 2015 Share Posted January 8, 2015 Like I always say “Haters gonna hate”. I just love this was his last response. Quote Link to comment Share on other sites More sharing options...
docdasuess Posted January 8, 2015 Share Posted January 8, 2015 It's super easy to write off "Unsold" inventory as a loss. I don't think it would ever be a problem for him business wise. His problem seems to be more of a moral one. But that is the thing, if he is intentionally taking "losses" but then going out making a profit himself and not reporting it I can see the IRS having a major issue with this. If this is the case it will only be so long until it catches up with him... much like everything else in this thread. Quote Link to comment Share on other sites More sharing options...
overdue Posted January 8, 2015 Share Posted January 8, 2015 I just love this was his last response. patrickemmons 1 Quote Link to comment Share on other sites More sharing options...
RowBearToe Posted January 8, 2015 Share Posted January 8, 2015 I wanna hear the Cartel truth. Quote Link to comment Share on other sites More sharing options...
just a normal guy kevin Posted January 8, 2015 Share Posted January 8, 2015 Imagine the circumstances where "Haters gonna hate" would be something you always say. _unproductive 1 Quote Link to comment Share on other sites More sharing options...
+hecollec+or Posted January 8, 2015 Share Posted January 8, 2015 Imagine if the phrase "Haters gonna hate" never existed. Would be awesome. Quote Link to comment Share on other sites More sharing options...
overdue Posted January 8, 2015 Share Posted January 8, 2015 I hope that most people would only use "Haters gonna hate" in a strictly ironic sense. But hey, it's like the easiest form of deflection out there. Quote Link to comment Share on other sites More sharing options...
chefchino Posted January 8, 2015 Share Posted January 8, 2015 Really pissed that I just bought a release before this surfaced. me too. I'd try and cancel mine but honestly I doubt he'd even look at it. I'm Sure he has a ironclad bullshit return policy anyway that would just make it not worth it Quote Link to comment Share on other sites More sharing options...
chefchino Posted January 8, 2015 Share Posted January 8, 2015 I wanna hear the Cartel truth. Quit holding out! Quote Link to comment Share on other sites More sharing options...
agaetisbyrjun Posted January 8, 2015 Share Posted January 8, 2015 I just love this was his last response. Riding off into the sunset quoting Taylor Swift Quote Link to comment Share on other sites More sharing options...
kjkenney Posted January 8, 2015 Share Posted January 8, 2015 But that is the thing, if he is intentionally taking "losses" but then going out making a profit himself and not reporting it I can see the IRS having a major issue with this. If this is the case it will only be so long until it catches up with him... much like everything else in this thread. If you make over 20,000 in a year and receive 200+ payments on eBay, they have to pass that info along to the IRS. In addition, the IRS defines that "You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions". Quote Link to comment Share on other sites More sharing options...
docdasuess Posted January 8, 2015 Share Posted January 8, 2015 If you make over 20,000 in a year and receive 200+ payments on eBay, they have to pass that info along to the IRS. In addition, the IRS defines that "You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions". Thanks kjkenney Quote Link to comment Share on other sites More sharing options...
tokimedo Posted January 8, 2015 Share Posted January 8, 2015 Shit! I just re-read Toki's post and realized I completely mis-read it. D'oh! There's a reason why the Admin and others have not logged in any time recently. It is because I told them to stay away from the boards unless really needed. They know that Jared and I can handle things. yeah i wasnt bashing you. just noting that SRC finds ways to smother the flame when the heat turns up about them. and also wanted to point out that people kept calling you a mod but you aint but off topic, sorry. moving on. if you want to discuss any of this juan, feel free to PM me. Quote Link to comment Share on other sites More sharing options...
RowBearToe Posted January 8, 2015 Share Posted January 8, 2015 Quit holding out! Chinoooo, you're doing it wrong haha Quote Link to comment Share on other sites More sharing options...
cfrancese5 Posted January 8, 2015 Share Posted January 8, 2015 How many people would still buy from this guy if he pressed Deja tomorrow? _unproductive 1 Quote Link to comment Share on other sites More sharing options...
just a normal guy kevin Posted January 8, 2015 Share Posted January 8, 2015 How many people would still buy from this guy if he pressed Deja tomorrow? 1,000 minus whatever amount of copies he keeps for eBay? The Exquisite Death of NK, cfrancese5 and gmoney 3 Quote Link to comment Share on other sites More sharing options...
gmoney Posted January 8, 2015 Share Posted January 8, 2015 1,000 minus whatever amount of copies he keeps for eBay? Minus the copies he gives to his buddy to sell. Quote Link to comment Share on other sites More sharing options...
just a normal guy kevin Posted January 8, 2015 Share Posted January 8, 2015 I knew my math was off somewhere. Quote Link to comment Share on other sites More sharing options...
noalarmplanet Posted January 8, 2015 Share Posted January 8, 2015 I wouldn't. It's sourced from napster. cfrancese5, _unproductive, dethrock and 4 others 7 Quote Link to comment Share on other sites More sharing options...
dreamover Posted January 8, 2015 Share Posted January 8, 2015 How many people would still buy from this guy if he pressed Deja tomorrow? that's really not the point. people can do whatever they want with their money. the fact is, ETR has established a pattern of shitty behavior and business practices. if people still buy from him (and obviously people will), they can't claim ignorance anymore. if he wants to be a part of the "scene" and the "vinyl community" he should show his customers some fucking respect. if your brand new record is more important to you than all this, than that's your decision. kurtz and tokimedo 2 Quote Link to comment Share on other sites More sharing options...
cfrancese5 Posted January 8, 2015 Share Posted January 8, 2015 that's really not the point. people can do whatever they want with their money. the fact is, ETR has established a pattern of shitty behavior and business practices. if people still buy from him (and obviously people will), they can't claim ignorance anymore. if he wants to be a part of the "scene" and the "vinyl community" he should show his customers some fucking respect. if your brand new record is more important to you than all this, than that's your decision. Well said... I mean personally I won't buy from this dude again.. my point is though its kind of shitty that he'll probably keep doing what he's doing and keep getting away with it... which sucks. Quote Link to comment Share on other sites More sharing options...
dreamover Posted January 8, 2015 Share Posted January 8, 2015 I know if I was a fan of the music he was releasing, I'd much rather another label put it out. cfrancese5 1 Quote Link to comment Share on other sites More sharing options...
gmoney Posted January 8, 2015 Share Posted January 8, 2015 themeconspiracy 1 Quote Link to comment Share on other sites More sharing options...
mindovermatter Posted January 8, 2015 Share Posted January 8, 2015 I just feel the need to chime in and say that unsold product doesn't consitute a loss for the IRS when filing taxes. In fact, your remaining inventory is how you calculate profit/loss for the fiscal year. I won't go into details, but as long as he is claiming sales AND remaining inventory the tax situation would be cool. He would also have to claim all eBay sales as well though, since they are income (and would create extra profit for which taxes owed would increase) Not an ETR apologist, but rather wanted to set that straight. Source: I do it once a year. Yooooo, overdue and themeconspiracy 3 Quote Link to comment Share on other sites More sharing options...
cfrancese5 Posted January 8, 2015 Share Posted January 8, 2015 Who knew we could get a tax education on VC Quote Link to comment Share on other sites More sharing options...
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