THE_BEYONDER Posted August 28, 2020 Share Posted August 28, 2020 21 minutes ago, littledoom said: Pawn Stars' Youtube channel has conveniently uploaded a comic book compilation video comic books are all the rage nowadays and peeps are aggressively seeking them out I couldn’t get through it. Listening to these guys talk comics.... And the dolt who almost grabbed the AF 15.... Larryw7 1 Link to comment Share on other sites More sharing options...
littledoom Posted January 5, 2021 Share Posted January 5, 2021 They're back!!!! snitzer 1 Link to comment Share on other sites More sharing options...
snitzer Posted January 6, 2021 Share Posted January 6, 2021 (edited) JIM 83 / 8.5 / Bought for $40k Edited January 6, 2021 by snitzer Link to comment Share on other sites More sharing options...
kav Posted January 6, 2021 Share Posted January 6, 2021 4 hours ago, littledoom said: They're back!!!! another nimwit that wants to sell it for what Rick can sell it for. Does no one understand how a business works??? Yes Safeway buys bread for $3 and sells it for $3. Larryw7 and 1950's war comics 2 Link to comment Share on other sites More sharing options...
greggy Posted January 6, 2021 Share Posted January 6, 2021 3 minutes ago, kav said: another nimwit that wants to sell it for what Rick can sell it for. Does no one understand how a business works??? Yes Safeway buys bread for $3 and sells it for $3. That's what they said. Link to comment Share on other sites More sharing options...
kav Posted January 6, 2021 Share Posted January 6, 2021 2 minutes ago, greggy said: That's what they said. What I wish rick would say is "Ok let's walk this through-I buy it from you for 60,000 and I sell it for 60,000. You get an immediate sale cash and access to my customer base and what do I get? Nothing. Does the sign outside say rick's Charity Service?" sfcityduck, Larryw7 and mysterymachine 3 Link to comment Share on other sites More sharing options...
littledoom Posted January 6, 2021 Share Posted January 6, 2021 Rick’s first low ball offer is usually half what the “expert” quotes or a little below that. I know many dealers who would love the buy in with a 10k margin. Rick’s really cheap and frugal mysterymachine 1 Link to comment Share on other sites More sharing options...
sfcityduck Posted January 6, 2021 Share Posted January 6, 2021 Just came to this thread again because someone reacted to a post above. Never seen that show with the PV Sunday. Holy Mother of God! That is one of the best early pages ever! Has it hit the market? Link to comment Share on other sites More sharing options...
blackterror Posted January 6, 2021 Share Posted January 6, 2021 When she sold that book - Rick acts like it's $40,000 cash ... but is it? Is there any kind of withholding tax on that? Does she just walk out with $40k? And if she does walk out with 40k - does she then have some kind of tax liability? What does she really get on that sale? And how does she put that much money in CASH according to Rick into her bank without raising all sorts of red flags - because I thought banks flagged any amount above 10K? I'm really asking by the way -- can you just walk in and sell a book for that kind of money and that be the end of it? And if not - what can she reasoably keep on the sale? If you have an understanding of this I'd love to learn. Personally - I'd like to think she could keep the 40k - but maybe not - or there maybe a way, but what would it be? Link to comment Share on other sites More sharing options...
theCapraAegagrus Posted January 6, 2021 Share Posted January 6, 2021 3 minutes ago, blackterror said: When she sold that book - Rick acts like it's $40,000 cash ... but is it? Is there any kind of withholding tax on that? Does she just walk out with $40k? And if she does walk out with 40k - does she then have some kind of tax liability? What does she really get on that sale? And how does she put that much money in CASH according to Rick into her bank without raising all sorts of red flags - because I thought banks flagged any amount above 10K? I'm really asking by the way -- can you just walk in and sell a book for that kind of money and that be the end of it? And if not - what can she reasoably keep on the sale? If you have an understanding of this I'd love to learn. Personally - I'd like to think she could keep the 40k - but maybe not - or there maybe a way, but what would it be? Why would you deposit it? Why would you deposit all of it in one transaction? Link to comment Share on other sites More sharing options...
blackterror Posted January 6, 2021 Share Posted January 6, 2021 Thanks for your thoughts AoD - I've never sold a comic book for $40,000 - so I I didn't think of what you suggested. But now that you mention it - I guess I wouldn't deposit it in one transaction ... BUT .... upon further thought it's actually quite possibel that Rick doesn't give her cash, but gives her a cashiers check. Then what? And is that the way to sell big books for cash only and make multilple bank deposits? Link to comment Share on other sites More sharing options...
sfcityduck Posted January 6, 2021 Share Posted January 6, 2021 12 minutes ago, Angel of Death said: Why would you deposit it? Why would you deposit all of it in one transaction? I dunno, she’s an honest and patriotic American who does not want to commit tax fraud? Link to comment Share on other sites More sharing options...
theCapraAegagrus Posted January 6, 2021 Share Posted January 6, 2021 Just now, sfcityduck said: I dunno, she’s an honest and patriotic American who does not want to commit tax fraud? #TaxationIsTheft buttock 1 Link to comment Share on other sites More sharing options...
sfcityduck Posted January 6, 2021 Share Posted January 6, 2021 (edited) 10 minutes ago, Angel of Death said: #TaxationIsTheft Nothing cool about encouraging fraud. Edited January 6, 2021 by sfcityduck Link to comment Share on other sites More sharing options...
sfcityduck Posted January 6, 2021 Share Posted January 6, 2021 31 minutes ago, blackterror said: When she sold that book - Rick acts like it's $40,000 cash ... but is it? Is there any kind of withholding tax on that? Does she just walk out with $40k? And if she does walk out with 40k - does she then have some kind of tax liability? What does she really get on that sale? And how does she put that much money in CASH according to Rick into her bank without raising all sorts of red flags - because I thought banks flagged any amount above 10K? I'm really asking by the way -- can you just walk in and sell a book for that kind of money and that be the end of it? And if not - what can she reasoably keep on the sale? If you have an understanding of this I'd love to learn. Personally - I'd like to think she could keep the 40k - but maybe not - or there maybe a way, but what would it be? The answer to your question is that: Yes, you owe taxes when you sell a comic book. What kind of taxes and how much varies depending upon the circumstances and profile of the seller. You ever auction off a big book, which is how the vast majority of big books sell, and the auction house will send you a tax document. Most sellers are honest and don't rely on a business plan of committing tax fraud. Those that do, probably aren't the ones who you want to trust in a high stakes transaction. After all, if they don't disclose to the IRS, what are they not disclosing to you? Restoration etc.? Link to comment Share on other sites More sharing options...
theCapraAegagrus Posted January 6, 2021 Share Posted January 6, 2021 8 minutes ago, sfcityduck said: Nothing cool about encouraging fraud. How often is what's right considered "cool"? littledoom and mysterymachine 2 Link to comment Share on other sites More sharing options...
littledoom Posted January 6, 2021 Share Posted January 6, 2021 47 minutes ago, blackterror said: When she sold that book - Rick acts like it's $40,000 cash ... but is it? Is there any kind of withholding tax on that? Does she just walk out with $40k? And if she does walk out with 40k - does she then have some kind of tax liability? What does she really get on that sale? And how does she put that much money in CASH according to Rick into her bank without raising all sorts of red flags - because I thought banks flagged any amount above 10K? I'm really asking by the way -- can you just walk in and sell a book for that kind of money and that be the end of it? And if not - what can she reasoably keep on the sale? If you have an understanding of this I'd love to learn. Personally - I'd like to think she could keep the 40k - but maybe not - or there maybe a way, but what would it be? The show always offers and guarantees the walk-ins full payments in cash..that's the negotiating/bargaining chip..They take all the risk Link to comment Share on other sites More sharing options...
sfcityduck Posted January 6, 2021 Share Posted January 6, 2021 12 minutes ago, Angel of Death said: How often is what's right considered "cool"? Small "r"? Most of the time. Capital "R"? Rarely. oldmilwaukee6er 1 Link to comment Share on other sites More sharing options...
Cozmo-One Posted January 6, 2021 Share Posted January 6, 2021 1 hour ago, sfcityduck said: I dunno, she’s an honest and patriotic American who does not want to commit tax fraud? 1 hour ago, Angel of Death said: #TaxationIsTheft More than just tax fraud, the Bank Secrecy Act makes it illegal to "structure" deposits in order to avoid the $10K reporting mandate. It is used to look for money laundering, terrorist funding, narcotic funding, as well as tax fraud and other items. https://en.wikipedia.org/wiki/Structuring Schmakt 1 Link to comment Share on other sites More sharing options...
theCapraAegagrus Posted January 6, 2021 Share Posted January 6, 2021 1 minute ago, Cozmo-One said: More than just tax fraud, the Bank Secrecy Act makes it illegal to "structure" deposits in order to avoid the $10K reporting mandate. It is used to look for money laundering, terrorist funding, narcotic funding, as well as tax fraud and other items. https://en.wikipedia.org/wiki/Structuring Exactly why you should have a fire-proof safe under your mattress. Link to comment Share on other sites More sharing options...
