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  #1  
Old 12-21-2019, 11:41 AM
Fuddjcal Fuddjcal is offline
Chuck Tapia
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Originally Posted by 111gecko View Post
I believe the auction house/EBay shilling will be exposed and punished. Also, the IRS will get theirs on the trimming/kick backs etc. The rest...not so much. Just my thoughts.
To me, the easiest case to make against all these losers is that they avoided their income tax. Sort of an Al Capone job. If they won't be able to get them on anything else, they always have that in their back pocket. Good times
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  #2  
Old 12-21-2019, 08:26 PM
steve B steve B is offline
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Originally Posted by Fuddjcal View Post
To me, the easiest case to make against all these losers is that they avoided their income tax. Sort of an Al Capone job. If they won't be able to get them on anything else, they always have that in their back pocket. Good times
How do you know they didn't claim the income and pay the taxes?
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  #3  
Old 12-21-2019, 08:32 PM
JackW JackW is offline
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He knows nothing.
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  #4  
Old 12-21-2019, 10:42 PM
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Bigdaddy Bigdaddy is offline
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Originally Posted by steve B View Post
How do you know they didn't claim the income and pay the taxes?
Do most illegitimate businesses pay income taxes on their earnings? Just asking.
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Last edited by Bigdaddy; 12-21-2019 at 10:43 PM.
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  #5  
Old 12-22-2019, 09:58 AM
Fuddjcal Fuddjcal is offline
Chuck Tapia
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Originally Posted by Bigdaddy View Post
Do most illegitimate businesses pay income taxes on their earnings? Just asking.
I don't know about everyone else, but all my friends and I that own our own business's, pay 100's of thousands a year in taxes. Do you think they are making 10K on a card and paying 20-30% in taxes ?
Last edited by Fuddjcal; 12-22-2019 at 09:59 AM.
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  #6  
Old 12-22-2019, 10:04 PM
steve B steve B is offline
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Do most illegitimate businesses pay income taxes on their earnings? Just asking.
I only know of one. Years ago I read about a different organized crime figure that was brought up on tax evasion, but got off because he had claimed and itemized all his ill gotten gains and paid taxes on them.
No idea what happened after, but I can't imagine it went well for him. But at least he didn't go down over not paying taxes.

It's a hard thing to know, unless someone gets charged and has to prove they paid.
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  #7  
Old 12-22-2019, 09:55 AM
Fuddjcal Fuddjcal is offline
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Originally Posted by steve B View Post
How do you know they didn't claim the income and pay the taxes?
because crooked Fu**s, don't pay their taxes...I guarantee it PERIOD
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  #8  
Old 12-22-2019, 10:19 AM
japhi japhi is offline
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Originally Posted by steve B View Post
How do you know they didn't claim the income and pay the taxes?
I would bet a lot of money that cap gains taxes were not paid properly or at all on a lot of these sales. Not an expert in cap gains on US collectables but I’d suspect that the IRS would have a heyday with some of these dealers.
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  #9  
Old 12-22-2019, 10:10 PM
steve B steve B is offline
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Originally Posted by japhi View Post
I would bet a lot of money that cap gains taxes were not paid properly or at all on a lot of these sales. Not an expert in cap gains on US collectables but I’d suspect that the IRS would have a heyday with some of these dealers.
Not being a tax guy, I'm not sure if it would go under capital gains, business profit, or miscellaneous income.

My card sales etc, get claimed as miscellaneous income. They are also pretty small. And since my wife is in the computer industry taxed pretty heavily. (No that that's a bad thing)
Hmmmm….. if I call the odd bits of "Junk" I sell "assets" maybe I can call it capital gains instead and save a few percent.. Nah, best to just pay the higher rate and have no problems.
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  #10  
Old 12-25-2019, 12:04 PM
Fuddjcal Fuddjcal is offline
Chuck Tapia
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https://www.blowoutforums.com/showpo...&postcount=634

Here comes the 71's "I ain't no Shellanbeck girl" .

And this hasn't been discussed but you know all too well it's happening with all the "flips". More flip's than mary lou retton.

A previously trimmed 7.5 that was cracked out yet again to make a nice fake 8 and beat some chump for 400. Another 5 k to add to the running total that will exceed 1 billion once this scam has been tallied. And those will just be the ones we know of. Collect what you love and if you love to get your teeth kicked in, keep supporting the PSA fraud.
Last edited by Fuddjcal; 12-25-2019 at 12:07 PM.
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  #11  
Old 12-26-2019, 10:31 AM
Johnny630 Johnny630 is offline
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Does anyone holding a large amount or large value amount of Non Altered Slabbed Cards have an Exit Strategy To Limit their losses/downside potential from the impending collateral damage that in my opinion will be occurring from all
This Mess?

Maybe my theory is way off idk

Thoughts ?
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  #12  
Old 12-26-2019, 10:46 AM
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bnorth bnorth is offline
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Originally Posted by Johnny630 View Post
Does anyone holding a large amount or large value amount of Non Altered Slabbed Cards have an Exit Strategy To Limit their losses/downside potential from the impending collateral damage that in my opinion will be occurring from all
This Mess?

Maybe my theory is way off idk

Thoughts ?
Personally I have been selling most of mine. I have a few more I want to unload soon.

I do have a complete graded set(I had them graded) that I know are all unaltered, am still on the fence about selling them. I have had them for years and I bought them from a guy that had them for decades. I do have about 10 other graded cards I plan on keeping.

I personally hope the scammers and lemmings get stuck holding the bag. I don't see it happening though because too many lemmings will jump at the chance to buy the altered graded cards if the prices start falling.
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  #13  
Old 12-26-2019, 12:04 PM
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mechanicalman mechanicalman is offline
Sam Sw@rtz
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Quote:
Originally Posted by Johnny630 View Post
Does anyone holding a large amount or large value amount of Non Altered Slabbed Cards have an Exit Strategy To Limit their losses/downside potential from the impending collateral damage that in my opinion will be occurring from all
This Mess?

Maybe my theory is way off idk

Thoughts ?
If there was a massive correction, it would have happened by now. There won’t be. Sorry.
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