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ETR Superfans - Enjoy The Ride Records & More?


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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.

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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". 

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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

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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. 

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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. 

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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.

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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.

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