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Shrevvy
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Everything posted by Shrevvy
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My contributions...#121 was the first "expensive" comic I bought at a convention in the 1980s. I think I paid $20 for a copy. This story line has long been a favorite.
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This and #121 (even more so than the #120) are some of my favorite X-men covers and stories. Nice copies.
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ASM 194- The Latest ASM Issue Blowing Up?
Shrevvy replied to Jaydogrules's topic in Bronze Age Comic Books
I'll take the over -
Comiclink, Comic Connect, Heritage, etcetera... Wins...
Shrevvy replied to Buzzetta's topic in Comics General
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GPA sales info on JIM #83 cgc 3.5 and 5.0
Shrevvy replied to Frankielo's topic in Silver Age Comic Books
You can get 1 month of GPA for $11. If you are spending five figures on a book, you can probably afford it... -
Block jacobsneff2012 Bought a book. Messaged a couple days after saying the money was in his bank but couldn't get eBay to accept payment. I responded and then three days of silence.
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This is not correct. Buying inventory does not reduce taxable income. Cost of purchases get added to inventory and is charged against revenue once the product is sold. The Schedule C calculation might make it confusing as it looks like inventory is deducted. Example. Purchase one book for $100 and sell for $200. No begining inventory. Cost of Goods is $100 and gross profit is $100. Schedule C looks like this (ignoring labor and other costs): Beg Inventory $0 Purchases +$100 This equates to Line 40 on Scedule C = $100 End Inventory $0 (because you sold the book) Line 41 Subtract Line 41 from Line 40 = $100 Cost of Goods is $100 Now assume you purchase two books each for $100 and sell one for $200. No begining inventory. Cost of Goods is still $100 and gross profit is still $100. Schedule C looks like this (ignoring labor and other costs): Beg Inventory $0 Purchases +$200 This equates to Line 40 on Scedule C = $200 End Inventory $100 (you now have one book you paid $100) Line 41 Subtract Line 41 from Line 40 = $100 Cost of Goods is $100 Inventory purchases do not change cost of goods. The cost of inventory is only netted against sales once the product is sold.