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#1
07-30-2010, 04:54 PM
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1099 Time?
Anyone else heard that the IRS has finally wised up--or staffed up--and will be requiring auction houses to issue 1099s to consignors? If so, fine with me, its just another area of dishonesty in the hobby that needs to be cleaned up the way I see it. And those who haven't been paying taxes on such high profile and well-documented income have been rolling the dice anyway. Maybe that's what this meeting is about.
Hank Thomas 
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#2
07-30-2010, 05:12 PM
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IRS + hobby? How fun.
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#3
07-30-2010, 07:23 PM
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hobby/business
Quote:
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#5
07-30-2010, 08:15 PM
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Big, big meeting
I just hope that Mastro is back in time from his latest trip to save the orphans.
__________________
http://www.flickr.com/photos/calvindog/sets
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#7
07-30-2010, 08:35 PM
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Quote:
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#8
08-01-2010, 09:03 AM
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Quote:
__________________
Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not...
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#9
07-30-2010, 08:39 PM
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What about Pat Chan or Scott Susor? Shouldn't they get an 'invite" as well? We are talking about the near-death of an industry, and as many "good guys" as possible might be needed to collectively figure-out how to save the
Isn't there going to be free beers? Lovely Day... Last edited by iggyman; 07-30-2010 at 08:53 PM.
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#10
07-30-2010, 05:16 PM
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i was thinking about that
there are alot of "part time" dealers with massive inventory and expensive material. what are the chances some of these folks set up at shows and are obviously doing this professionally and not reporting? some people bought their homes & cars just on card deals alone. even bill mastro stated he sold that wagner and ordered himself a brand new mercedes (at the time i think the card sold for $110,000 to copeland) alledgedly of course.
if auction houses are to send out 1099's.... memory lane has had some record setting prices over the last decade and alledgedly those cards never left their perspective registry sets to change hands. it doesnt really matter as the bidding records are destroyed anyway.
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#11
07-30-2010, 05:33 PM
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Well, not all auction houses follow the "dog ate my homework" lead of Mastro/Allen and destroy bidding records. At least I hope not.
__________________
http://www.flickr.com/photos/calvindog/sets
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