ComicDoc

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Everything posted by ComicDoc

  1. Marvel Legends Todd McFarlane Spider-Man Vol. 2: Todd McFarlane Paperback – July 7, 2003 This is where it appears to have come from but I like that yours is a clock too.
  2. Looking for a 9.8 Captain America 286
  3. Book shipped quickly, exactly as describe, very easy to deal with - thank you!
  4. Check out http://www.handsomeboydesigns.com/about/ They make "ComicTombs" and do custom orders. Also I worked with them on my tombs that were damaged in shipping and they arranged for everything pick, repair, delivery - very good product and service. Recently sold my whole collection so now need to start rebuilding from scratch later this year and will be filling mine up again.
  5. WTB Graded Books with Holiday Covers Looking for graded books with holiday covers (Easter, Independence day (USA), Halloween, Thanksgiving, Christmas and New Year) or seasons (spring, summer, autumn, winter) Please send me a PM or email Buddys_Collectibles@comcast.net if you have any books you are interested in selling. Thank you
  6. ? If you're married and filing jointly, for instance, you have to earn over $230,000 in income to be taxed at a rate higher than 28%. If that's indeed your case, then you can certainly afford to have a tax accountant handle your returns and deal with your collectible gains from selling a collection. The reason for my question was to get insight from the board members on how to best approach this issue. And if any of them had dealt with this issue before and had any lessons learned. I thought it would help me to discuss the situation with the accountant in case they have not dealt with this circumstance recently. Yes, I will ask my accountant and it sounds like this is something that tax accountants deal with on a regular basis. I am glad I asked as I did learn something, I did not realize that it was considered capital gains. I was falsely under the impression that the funds would be considered income and taxed at my current rate. And all the great insights on hobby versus business, appropriate write offs and what can be included in the cost of the book have been fantastic. I am pleased that capital gains tops out at 28% as I am in a higher bracket and if this was added to it I would loss about 40 cents on the dollar of profit to the taxman. And if I sold the collection and miscellaneous items as a whole that (12 %) is a considerable amount of money!
  7. Thank you and I am glad to hear that it would only be taxed at the 28 % level and it is only the difference that gets taxed. I was not sure if it would have been counted as income and taxed at the full income rate. If I do not have receipts for all the purchases is it permissible to use selling cost when the item was new as your cost?? For example if I purchased a statue at 50 dollars and the MSRP is 20 and I do not have a receipt to say I paid more can I at least use the MSRP as the purchase price?? Wouldn't this be analogous to using a books cover price??
  8. Great advice by everyone. I will see my accountant but wanted to make sure I had all my ducks in order and to make sure I ask the right questions and have a general understanding of what I should expect as an answer. I am going to pull all of my Paypal receipts and see where that gets me. I hope they do not go off of the cover price!!! That does not even sound logical on a book like IH 1 which is a 10 cent cover. But I will try to locate as many receipts as possible. looking in my emails etc. Consensus is that for a hobby my time and the storage are not allowed. But storage products (boxes, bags, boards, racks etc.); grading costs; and shipping costs associated with purchases and grading. Is that correct? A And going forward need to keep all receipts for tax purposes.
  9. I guess I should be more vigilant in keeping all my receipts. As a collector I am more interested in getting the book than selling so that was not my emphasis (and really did not want to know how much I was spending or more importantly others to know). But with this advice I will be more attuned to this going forward. I don't think I have my receipts from the local / convention purchases or money orders and cashiers checks. I think paypal should be able to provide me with all my transaction history. Does anyone know how far back paypal goes??
  10. Thank you for all your responses. And the advice.