rapid08

I sold everything 4 years ago and paid off my home. I'm glad I did it as its clearly become a stupid expensive hobby. I still follow the hobby a tiny bit but there's no way I'd thrown any money at anything with the current prices.

All assets feel like musical chairs at this point. Stock, collectibles, houses, etc. Hope you can time the inevitable pop.

16 hours ago, ProcessedMeatMan said:

Would an actual receipt be necessary to prove a purchase or sale? 

I've tracked every comic related purchase I've made for the last six years in Excel. But I don't save receipts. I just mark what I bought, date, purchase price, etc and if I sell something, record the date, sale location, sold price, fees and shipping costs. I keep an annual tally with a goal of at least breaking even. I rarely turn a profit. 

I'll probably be fine with this tax thing, but I buy and sell a lot. Sometimes large purchases, sometimes cash. If I don't have individual receipts for those, I assume my little excel sheet won't matter to an IRS agent without documentation?

I'm not a lawyer so don't take this as advice but I did ask my lawyer that question since there were few books I had lost track of but he said IRS would be ok with estimates. Again, my filing was done as a hobbyist and not a business so take what I said with a grain of salt. I'm pretty sure if the IRS can establish that you are a business then they would require documentation for a full audit.

Again, I'm not a lawyer and what I said should not be considered legal advice

I used ebay emails dating back 10 years to do my accounting. I think ebay still sends you emails when you buy and sell something 

21 hours ago, Math Teacher said:

When we received a tax bill of $26,000+ in 2018, we immediately hired an attorney to help us. The attorney said the IRS routinely sends out these notices without taking any time to look at the documents. And, he said, many people just go ahead and pay the amount because of their fear of the IRS and their wanting to just get it over with.

Our attorney fought for almost 2 years, and we finally got the amount due down to $3,500. We asked our attorney to keep working on it, as he had told us that we didn't owe any money. Well, the IRS continued to apply fines and interest until the amount we owed was $4,400. At that point, our attorney said he didn't see that he could make any further progress, so we just wrote the IRS a check.

Afterwards, I got in contact with my congresswoman, Cindy Axne of Iowa. I told her aide what had been going on. He asked me to come to the office in Council Bluffs so he could photocopy all of our supporting documents. Less than two months later, the IRS sent us a check for $4,400, plus interest. I told Ms. Axne that I believed that the IRS should follow the rule of the land, which is "innocent until proven guilty." She said she had dealt with numerous IRS complaints since she had taken office, and the way the IRS can act is always brought up.

So, if I murder 10 people, I get the benefit of the doubt; I'm innocent until proven guilty. However, if I receive a 1099-K from Ebay stating that I had earned $750 in profit, I have to prove to the IRS that I didn't earn all that as profit.

Look, I understand the IRS has a tough job. None of us enjoy paying taxes, but that's part of living in a civilized society. What I really don't like is how the IRS goes after the little guys who can't afford to pay an attorney to fight on their behalf. However, the big spenders can afford to hire an army of attorneys and drag out the case for years.

The exact same thing happened to me when I sold off my collection in 17. I filed my taxes with the proper documentation as to what in the 1099k was profit vs gross but sure enough I ended up with a notice from the IRS. They wanted an extra 30k out me! I had to hire a $400/hr lawyer and after a year of fighting the IRS said nevermind. My lawyer indicated that it was fairly routine for tax filings to go through some automated algorithm / process that doesn't do a proper job of examining filings however, notices go off that. It's not until much later in the fight that an agent actually looks at the paperwork.  It's pretty gross. Meanwhile billionaires and corporations get to hide their money in the safety of the Cayman islands and nobody bats an eye. This new law is going to create a messy mess show almost for sure.

I sold my entire collection in 2017 and haven't bought since. I got the itch to buy again this week but I looked the prices and no-ped the hell out. So 3 years going on 4.

Fractional share of an asset that doesn't produce anything and is 100% speculative? Sounds...less than enticing

Still adding new stuff every day

Starting to add Full Runs of recent modern Marvel series.

Bump

Bump!

Bump! Adding X-men and Daredevil run lots in the next couple of days.

I'm in the process of selling my entire 1-700 ASM collection on eBay. Discounts available for bulk buys and boardies, message me through here.

http://stores.ebay.com/joecollectibles

sigh

About me:

Family is growing so it is time to part with some of my collection. I've sold a bunch on ebay and here on the boards rather recently. See below for feedback.

eBay - http://www.ebay.com/usr/joecollectibles for feedback

forum feedback - https://www.cgccomics.com/boards/topic/301417-rapid08s-feedback-thread/

If I have a made a mistake in my listing and/or my rules then please let me know via pm. Thanks.

PLEASE READ THE RULES BELOW BEFORE COMMITTING TO PURCHASE

First in here or via PM wins. Decided by timestamp. 

To help minimize me screwing up please ALSO send me a PM if you make a claim in the thread.

Payment options:

• Cash - Is king
• Certified Funds
• Wire Transfers
• Quick Pay (or whatever wire transfer service your bank has)
• Paypal 
• Time payments are available, non-refundable deposit required. Clear with me, via PM, before choosing this option.

Offers via PM are welcome (NOTE THAT SENDING ME ACTUAL OFFER AND NOT A 'WHAT'S LOWEST' MAKES MY LIFE A LOT EASIER WINK WINK), lowballing is not

Bulk buy discounts are available. 

Shipping:

• Shipping within US
• Shipping is $12 via Priority or registered mail. Add $10 for each additional slab.
• Includes Signature Confirmation
• Fully Insured
• I'm willing to deliver up large orders if in neighboring state. Clear with me, via PM, before choosing this option.

• Shipping to Canada
• At cost. Please contact me before choosing this option so we agree on the cost.

Returns:

I can accept returns on raw books within 7 days of receiving the book. I do not accept returns on slabs unless there is an error on my part.

Prohibited from bidding/buying:

• People on Hall of Shame or Probation List
• People on my personal ignore list

The Good Stuff:

Title Issue Grade Price

avengers    1    4.0    $2200

One last bump

A bit of housekeeping (cleaned up the sold books) and weekend bump.

Weekend bump. Might take a few of these to other venues this week.

Probably the last bump before I take these to other venues.

elibowman bought a couple of nice ASM slabs. Excellent communication and extremely easy to work with. Great buyer!

Bump for updated prices

HookemNC bought a nice ASM slab from me. He was very responsive, paid immediately and pleasure to deal with! 

Oops, updated prices weren't updated correctly last time. 

Bump for updated prices. 

Now shipping to Canada.