SNEAKERHEADS: Been making $$ flipping kicks on eBay/StockX? Prepare to start paying taxes in 2022
- Thread starter hardawayz16
- Start date
"Sleepy Joe is gonna go after the billionaires!"
Tell me about it. I’m $42K in sales just on EBay so far this year. Ain’t tripping though, the plan was to start paying this year anyway. 
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Tell me about it. I’m $42K in sales just on EBay so far this year. Ain’t tripping though, the plan was to start paying this year anyway.
It clearly states if you made over 20k you had to pay taxes anyway.
Meanwhile, yall were sold this bullshit to get the billionaires, not someone selling a few pairs of Yeezys.
Yeah, I know, I didn’t cross 20K until this year anyway, but $600 is clearly a target for the common man. No other way to explain that shit.
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What if you’re a tax preparer?
They don’t want nigs to have money
I'm thinking more of a permanent safe space for people to barter
You can’t exchange money on a platform with the transaction getting recorded. It’s the platforms that are now required to report it so unless your dealing in cash they basically squashed any payment processor work around. Cashapp, Venmo, they’ll all be required to send you a W-9(or whatever it’s called) for any goods sold over $600 which is recorded with the IRS. No hiding.
There it is
So part of me is like NOOOOOOO....but the other part of me is like fuck resellers. Guess bots going out of business too fuck them. But shit...Offer UP is about to be the move huh?
I mean...its gonna be inconvenient but ain't no records of paying in cash.
Yeah, less and less deal cash these days even for side hustle. I just cash apped a guy this morning that tuned up my lawnmower. He was like cash, Venmo, he’s good with all of it.
no more orange-skinned racist cacs to scare people.
the mid-terms will be catastrophic and the D1 bidensexual coons will blame...niggas..
Any thoughts as to potential affects beyond resale marketplaces? eg Nike etc? production etc?
Not sure how accurate, but I heard this Act also gives IRS access to investigate any bank/financial account with $600+
Such a low number… lot of kids even (12 and under) have always made money reselling collectibles - comics, cards all this shit…
I am soooooooo glad I am an adult and don't give a fuck about sneakers. I remember whrn the Huaraches first came out in Feb of '92. I was one of the first people in NYC with them. Niggas didn't even know the name and just called them the "Fab Five sneakers"
Went to the sneaker store name I forgot on 125th between Lenox and 5th. I gave the Chinese man $110 and I was on my way. No sleeping outside the store, no sucking dick online bidding, no having a special QR code from Foot Locker, none of that shit!
Went to the sneaker store name I forgot on 125th between Lenox and 5th. I gave the Chinese man $110 and I was on my way. No sleeping outside the store, no sucking dick online bidding, no having a special QR code from Foot Locker, none of that shit!
@lightbright
explain this shit!
explain this shit!
This, or unless you paying with Crypto
Brah...what color...I hope the green ones
Lol, I got the basketball ones which were blue and purple. The cross trainer versions were green and purple.
.......I think it means that you're going to start getting taxed for every time you hit your knees in an alleyway behind a club to work...... you were making in the low six figures smoking guns..... it sucks .... to be you..... literally.....
I think I had a black purple pair...post a pic of em..I don't remember them... brah
Nah I feel you. Its too convenient not too. Shit I pay my barber on cash app. Its to the point now where I don't even pull out cash or even credit cards no more for shit lol.
Oh for sure its gonna effect everyone.
I'm a little shocked its just getting traction now I peeped how they are about to start sending w9's to people who simply use cash app. When I saw that I knew where this shit was going. Uncle Sam hoe ass turning over every pillow and cushion looking for money. He about to get it anyway he can.
The resell market is about to have a hurdle to jump over...either because people are going to start taxing even MORE for this stuff to make up for the tax or gonna simply stop reselling because its not enough money to justify the work.
Bruh, nothing to hate. The 'first' black deputy treasurer assured us this is going to make the billionaires cough up the taxes they owe. He promises. Trying to LOWER the reporting standards has nothing to do with the growing gig/side hustle community. Got to trust him. They will never, ever come after the little guy. Lowering reporting will really nail all the rich people and spook them into paying. Everything else is MISINFORMATION.
And not every fucking body had em on
I hate these new nigguz.
I sell a lot of chit on ebay, daily, not sneakers.
Ebay started charging buyers taxes over a year ago because of the whole "internet taxes" crap to pay states. They also rape us sellers as well. So now they want to say you're going to pay taxes again?
Makes no sense.
No one ever thinks about tax, just say whatever and pay it.
But when you work, say you get $100 paycheck.
Pay 30% tax to the Fed
Pay 8-9% tax to the state
Then pay sales tax on what you buy.
You walking away with about $50 in your pocket from that $100.
Madness.
This new bill gets passed, we will be the highest paying taxes in the world.
Ebay started charging buyers taxes over a year ago because of the whole "internet taxes" crap to pay states. They also rape us sellers as well. So now they want to say you're going to pay taxes again?
Makes no sense.
No one ever thinks about tax, just say whatever and pay it.
But when you work, say you get $100 paycheck.
Pay 30% tax to the Fed
Pay 8-9% tax to the state
Then pay sales tax on what you buy.
You walking away with about $50 in your pocket from that $100.
Madness.
This new bill gets passed, we will be the highest paying taxes in the world.
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