Joke.
Sure sure someone just want to tag all of the klov members to find out where all of those honey holes of old arcade machines are located at.
So can I interest anyone into how to convert your home into Faraday cage?
New Tax Law: Paypal reporting all transactions over $600 now for 2022
- Thread starter AlienSyndrome
- Start date
Sure sure someone just want to tag all of the klov members to find out where all of those honey holes of old arcade machines are located at.
So can I interest anyone into how to convert your home into Faraday cage?
Treat your games like art (Just like the rich do it). Value your games higher than whatever you sold them for. They're your games and you have the right to value them at whatever price you like.
So if you sell an original working Pac-Man for $1000, but it has special side art that you installed personally, you can value it at $3000 because your labor was worth that.
Unfortunately, the market would only pay $1000 and you needed the money. So you lost $2000 that you can now put toward your tax liability. Smart people will know what to do with this new rule. Taxes are for the stupid and the uninformed. Only the stupid and uninformed allow people and/or groups to openly steal from them. The smart and informed will do something about it.
DarkKobold
Active member
Treat your games like art (Just like the rich do it). Value your games higher than whatever you sold them for. They're your games and you have the right to value them at whatever price you like.
So if you sell an original working Pac-Man for $1000, but it has special side art that you installed personally, you can value it at $3000 because your labor was worth that.
Smart people will know what to do with this new rule. Taxes are for the stupid and the uninformed. Only the stupid and uninformed allow people and/or groups to openly steal from them. The smart and informed will do something about it.
Uh, no. Unless you actually PAID YOURSELF $2000 for that work (i.e. paid yourself and EMPLOYMENT TAX, including FICA taxes) then no, you can't deduct the cost of your own labor. You can't value your games at "whatever you like." You have to have a BASIS, which is the cost of what you paid for the material goods. So if you paid $200 for the cabinet and $100 for the side art, then you can deduct $300 on your Schedule C form. The IRS doesn't accept feels as proof of value.
Sure, geniuses like you totally know what you're doing, until the IRS comes knocking. Sure, the IRS doesn't audit that many people, but don't listen to this guy, he clearly doesn't know the first thing about tax law.
So, my games are art. They are not simply games. When I restore a game it is my art. I can value my art however I like. Just ask the rich when they value their "art."
Thanks for the reply, though! I just wanted to ruffle the feathers of some "accountants" on here. I don't know jack shrimp about tax law - I just know that it is all a scam and made to steal from me. My accountant does all of that crap for me and even he admits it's all contradictory and makes no sense.
I friggin love it! This is now full circle and knocks on the "selling graded marquees" threads. And the "my game is old no one values it but me, until I sell it, then it's priceless, but don't tell anyone what I got" threads.
Someone please pick a side and stick with it, not flip horses every other month when it suits them! Actually do flip horses, as it strengthens the validity of intentions and objectives of either side.
Damn I love this place!
In these parts, we cow tip. Canada must be different.I friggin love it! This is now full circle and knocks on the "selling graded marquees" threads. And the "my game is old no one values it but me, until I sell it, then it's priceless, but don't tell anyone what I got" threads.
Someone please pick a side and stick with it, not flip horses every other month when it suits them! Actually do flip horses, as it strengthens the validity of intentions and objectives of either side.
Damn I love this place!
How much do you tip a good cow nowadays? 20%? And do they find it offensive to call them cows? What if they identify as a Llama? If you tip a cow too much do you end up with a milkshake?
And to bring it back home, are said tips claimed as gratuitous income?
DarkKobold
Active member
That's not how the rich use art to avoid taxes at all. It's like you heard the words art and rich and just filled in all the details. Do you also use big words you hear with no idea what they mean?
The rich do use art to avoid taxes, but you're missing the big part where they DONATE the art as a tax write off. Jack up the valuation through nefarious means (auction houses usually), donate the art to a museum, and then you have a write-off at the evaluated value. As you aren't donating your games, but instead selling them, the whole "my arcades is arts because rich people" doesn't matter worth one iota.
I may have been misinformed, then. Thanks for the help. I will be sure to research this and verify it because smarmy jerks on arcade boards who think they know everything.
Hey now, I resemble that remark!I may have been misinformed, then. Thanks for the help. I will be sure to research this and verify it because smarmy jerks on arcade boards who think they know everything.
Is trolling capable of being "dry" like humor? Because I think my presentation is just too dry. Lol.
Yer trolling comes across perfectly fine. Like a well aged dry white whine.
DarkKobold
Active member
Maybe try not calling everyone else "stupid" while not having a clue how tax law actually works. You're not really trolling.
CameronMcC
Well-known member
I feel taking any advice that may have deeper implications and harm greater than a paper cut is just asking for trouble and being lazy. People get their backs up based on emotion, and not wanting to put in the time.
Personally I'm just laughing at the whine fest from both sides. In the end it's your life, your financial obligations. Do what you wish, mitigate what ever risks you chose.
And remember the Terms of Service here...
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Personally I'm just laughing at the whine fest from both sides. In the end it's your life, your financial obligations. Do what you wish, mitigate what ever risks you chose.
And remember the Terms of Service here...
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The providers ("we", "us", "our") of the service provided by this web site ("Service") are not responsible for any user-generated content and accounts. Content submitted express the views of their author only.This Service is only available to users who are at least 13 years old. If you are younger than this, please do not register for this Service. If you register for this Service, you represent that you are this age or older.
All content you submit, upload, or otherwise make available to the Service ("Content") may be reviewed by staff members. All Content you submit or upload may be sent to third-party verification services (including, but not limited to, spam prevention services). Do not submit any Content that you consider to be private or confidential.
You agree to not use the Service to submit or link to any Content which is defamatory, abusive, hateful, threatening, spam or spam-like, likely to offend, contains adult or objectionable content, contains personal information of others, risks copyright infringement, encourages unlawful activity, or otherwise violates any laws. You are entirely responsible for the content of, and any harm resulting from, that Content or your conduct."
He without sin cast the first stone.
Just give me a minute. Lemme don my helmet and protective gear and you can start kicking up the rock fest!
I may have been misinformed, then. Thanks for the help. I will be sure to research this and verify it because smarmy jerks on arcade boards who think they know everything.
In all seriousness, though,
Of course, your reaction makes me think.....oh, nevermind.
I didn't call everyone stupid, silly person with stick cartoons. I only applied that moniker to individuals who just pay their taxes and don't try to find every legal way imaginable to avoid them.Maybe try not calling everyone else "stupid" while not having a clue how tax law actually works. You're not really trolling.
Of course, your reaction makes me think.....oh, nevermind.
