Selling Strategies For 2022????16243
 Collector*
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Towmater private msg quote post Address this user | |
| @Bronte What follows isn't tax advice and may not be correct... My understanding, based upon the last couple of years of selling off my collection, is that you deduct the costs associated with the gains/losses and then pay the 28% on that total gain. You get to deduct things like auction fees, listing fees, paypal fees, postage, yada, yada, yada. It is a pain to go back and determine the what you bought books for and the cost associated with the sale of them, but it has to be done. You can offset it with tax strategies but you'd need to talk to a tax professional about then and what is right for you. |
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| Post 76 • IP flag post | ||
 Masculinity takes a holiday.
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EbayMafia private msg quote post Address this user | |
Quote:Originally Posted by Bronte capital gains tax is different from Income Tax, not in addition to. It's typically lower than income tax, intended to encourage investment in the economy. It's taxing the profit that you make from investment of money that you already paid income tax on. |
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| Post 77 • IP flag post | ||
 " . "
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Davethebrave private msg quote post Address this user | |
| @EbayMafia Good summary. It is also structured in a way to help ensure the wealthy stay wealthy and the poor stay mostly poor. ;-) |
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| Post 78 • IP flag post | ||
 The apple sauce and pudding were the best part...
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Bronte private msg quote post Address this user | |
| Towmaster EbayMafia Thank you for your response. I plan to have a conversation with accountant before selling anything this coming year. |
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| Post 79 • IP flag post | ||
 Have I told you about the time I dropped off 3,000 comics at SDCC?
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Scifinator private msg quote post Address this user | |
| My strategy - Damn the torpedos, Full Speed Ahead! | ||
| Post 80 • IP flag post | ||
 being an ass and being a clown are two very different things.
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HAmistoso private msg quote post Address this user | |
| I don't do much selling, but if I'm inclined to drop a book I'm going to be looking for trades/swaps first. | ||
| Post 81 • IP flag post | ||
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