[Archive]

Posted By: leon

Very recently I asked my CPA about income with regard to selling some cards. He said it's 28% in Texas as they are considered collectibles and that is what they are taxex at. I then zipped over to my accounting person that does my restaurant (debacle) accounting. I have huge write offs unfortunately.....so my net taxable income won't be huge.....Just make sure you can show everything and explain everything if there is an audit. I have been audited before and my cards, and income and loss associated, passed with flying colors....best regards