Selling on eBay question

[Dick Steinkamp]

Originally Posted by Licensed to kill

Now I get that we all like what we are used to and what is familiar but with this, I have to disagree. IMO, sitting on the left side to drive is the logical choice since the vast majority of people are right handed, it only makes sense (to me) to put the shifter to the drivers right.

The only RHD car I've owed is this Daimler V8 250. Getting used to shifting with my left hand took about 30 seconds.

https://www.youtube.com/watch?v=3ftF8II0WRw

[Cool Hand Lurker]

Tax avoidance is the use of legal methods to modify an individual's financial situation to lower the amount of income tax owed. This is generally accomplished by claiming the permissible deductions and credits. This practice differs from tax evasion, which uses illegal methods, such as underreporting income to avoid paying taxes.

Tax "evasion" is when you hide income or overstate deductions. You can go to prison for tax evasion.

Tax "avoidance" is when you apply as a deduction from income, all of the legal and relevant costs of generating that income, which lowers the tax amount you legally owe. You are encouraged to use these deductions. This is what the President-Elect is talking about. This is paying all of your fare share.

That is in the Internal Revenue Code, the federal law on income taxation.

IRS counts income "from whatever source derived" and this includes gambling. You can deduct gambling losses up to but not over the amount of winnings.

At least this is what it was when I was a Special Agent - Enforcement, Internal Revenue Service. (a Long time ago. Really.)

[31 Model A]

Originally Posted by Cool Hand Lurker

Tax "avoidance" is when you apply as a deduction from income, all of the legal and relevant costs of generating that income, which lowers the tax amount you legally owe. You are encouraged to use these deductions. This is what the President-Elect is talking about. This is paying all of your fare share.

This is exactly why returns this year for those claiming Earned Income Credit will have a second look.

[ronn]

Tax "avoidance" is when you apply as a deduction from income, all of the legal and relevant costs of generating that income, which lowers the tax amount you legally owe. You are encouraged to use these deductions. This is what the President-Elect is talking about. This is paying all of your fare share.

and taxes should be going down this year- the more opportunity to buy up the cars stashed overseas...........

I know aapl, googl, amazon, etc. are going to enjoy bringing their overseas cash back!

[31 Model A]

Originally Posted by ronn

and taxes should be going down this year- the more opportunity to buy up the cars stashed overseas...........

I know aapl, googl, amazon, etc. are going to enjoy bringing their overseas cash back!

Not sure about that, Cuba might have sanctions put back on them but I've never seen any Model A running around Habana!!!!!!!!!!!!.

[C26Pinelake]

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I have been to Cuba more than 20 times and I have never seen a pre 1950 car. The suggestion of many mint cars is totally exaggerated. The 50 and 60 era cars are junk! Wayne

[Licensed to kill]

Originally Posted by C26Pinelake

I have been to Cuba more than 20 times and I have never seen a pre 1950 car. The suggestion of many mint cars is totally exaggerated. The 50 and 60 era cars are junk! Wayne

My experience regarding cuban cars is that maybe 10-15% are pristine, 20% are junk and the remaining 65-70% are average condition for their age. I also noticed that maybe 30% of the convertibles are actual factory convertibles and the other 70% are coupes/sedans with the roof cut off. Another interesting note, there are NO '58 Impala's there, only biscaynes and Bel Airs. I did see 1 or 2 cars from the 40's and I recall 1 or 2 from the late 20's early 30's but don't recall if they were actual vintage cars or cobbled together mutts.

[ronn]

so we are only buying cars from Cuba?

what about all of those great rhd Phaetons over in Argentina and throughout south America?

[Mitch//pa]

Like Ronn said just sell all u want... dont worry bout it...

[1930marie]

Originally Posted by Neil Mylar LakewoodCA

It has been over a year since I be sold anything on eBay.
At the time they were asking for social security numbers.

Are ssn's now required and is your sales income reported to the IRS?

Thanks.

You are correct. My company has an ebay store that is bound by contract with ebay. The contract required our business ID number and I believe the year end 1099 was received recently. If you look at your "my ebay" ebay maintains a running log on all the stats on your sales. Very efficient. Hope that helps. FWI: it works for us - the ebay customer list is beyond comprehension.