What is old is new again --- the swap meet. Where cash is king. Used to love the hot dogs.
*&^%*** Government
- Thread starter CAJUNLAWYER
- Start date
What is old is new again --- the swap meet. Where cash is king. Used to love the hot dogs.
DWalt
Member
This is what eBay says: Form 1099-K | eBay
I'm ready to buy your RM or TL for $599. 
That is what it is currently. The gumbit wants to change that $20,000 to $600.
The 600 seems to be a magic number from the IRS' perspective. Banks are required to report debt forgiveness or abandonment of 600 dollars or more. There is another push to require banks to provide transaction data on bank accounts. This is over and above SAR's / AML reporting. If this all goes down it will be a huge "revenue" generator for the government.
Personally, I believe tax witholding is the biggest deception there is. People fail to really understand how much money they actually make. You ask many people how much they earned and they give you the net number. I think if they got that extra 20 or 30%, then had to pay it back they would notice, but since it is witheld they don't.
It is like the devils greatest accomplishment, convincing people he doesn't exist.
Rant over.
Personally, I believe tax witholding is the biggest deception there is. People fail to really understand how much money they actually make. You ask many people how much they earned and they give you the net number. I think if they got that extra 20 or 30%, then had to pay it back they would notice, but since it is witheld they don't.
It is like the devils greatest accomplishment, convincing people he doesn't exist.
Rant over.
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Well, guess I better start selling my guns now instead of waiting for this to possibly kick in. 
I'm not a face to face kind of seller, just on consignment.
I'm not a face to face kind of seller, just on consignment.
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Old Arkansawyer
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American Rescue Plan Act Clarifies Scope of Form 1099-K Reporting and Reduces De Minimis Threshold | Tax Withholding & Reporting Blog
SO we get 1000-k's for paypal and other third party transactions now?????
Maybe that will offset some of the 76 billion the Fed's spent on
La. after hurricane Katrina, not to mention the last hurricane.
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OLDSTER
Member
Convert every thing you have to cash, and the sooner the better. I'm too old to risk being "taken care of", so we're in the process. My cash oughta' fit in a sandwich bag. 
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My wife is selling me her personal goods - she'll provide a receipt. Her prices are obscenely high, but she has agreed I can simply work for the total costs.
Being a poor businessman, I'm likely to get far less for these items on eBay after her death, but really, the items just make me happy. I'll sell her my valuables as well, and provide a receipt - they won't be cheap either. Like me, she is a terrible businessperson, and may take a substantial loss on eBay.
It's just business.
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THE PILGRIM
Member
A while back I sold a Mountain Property that I bought for my Son, then he decided he didn't want it.
This property already has an assumable Seller Financing Loan on it.
We got a lot of these here in NM.
So I'm selling Cash to Loan.
The Buyers apparently operate a Car Selling - Repairing Biz, probably off the books.
So the Buyer Lady who calls the shots asked me if I would take Cash.
Yes! I love Cash. $12,000 of it.
When she arrived at the Attorney's Office to close she was carrying a small brown paper sack.
When she dumped the contents on the table it was a big stack of mostly $20s.
Ginger the Paralegal said 'We don't take cash."
I replied, I do take cash, I take all I can get.
I finally helped the Buyer count cash.
Otherwise we would be there all day!
Gave some to my Kids, put some in the Bank, still have some.
Yes I reported the transaction and the cash received.
This property already has an assumable Seller Financing Loan on it.
We got a lot of these here in NM.
So I'm selling Cash to Loan.
The Buyers apparently operate a Car Selling - Repairing Biz, probably off the books.
So the Buyer Lady who calls the shots asked me if I would take Cash.
Yes! I love Cash. $12,000 of it.
When she arrived at the Attorney's Office to close she was carrying a small brown paper sack.
When she dumped the contents on the table it was a big stack of mostly $20s.
Ginger the Paralegal said 'We don't take cash."
I replied, I do take cash, I take all I can get.
I finally helped the Buyer count cash.
Otherwise we would be there all day!
Gave some to my Kids, put some in the Bank, still have some.
Yes I reported the transaction and the cash received.
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When I was preparing to buy Batmobile #2, I would go to the ATM and take out a wad of cash in $20 bills and go into bank branches to get Golden Dollars, all of which I would stash in a bank bag. So when the day came to buy the car I went in to the cashier and pulled out $1400 in $20s and several hundred dollars in Golden Dollars still in the mint wrappers. Out of courtesy, I usually don't give anyone more than about 20 loose Golden Dollars. The cashier about had a cow. I wondered what the problem was since all the Golden Dollars were still in the wrappers and could be taken to the bank like that. She said she would still have to take off all the wrappers and count all the coins, and she said just write a check. When everything shook out, I ended up paying $80 in Golden Dollars to close the deal, and that was OK because I could say that I paid for the car in part with the Golden Dollars.
To show a different attitude, while this saving process was going on, I had racked up a big car repair bill at my regular dealership. For some reason, I didn't want to put the bill on my credit card, so I took my checkbook and a bunch of cash, including rolls of Golden Dollars to pay the bill. Later on when I told the manager that some people questioned my paying the repair bill with a pile of rolls of Golden Dollars, the manager said, "You can spend your Golden Dollars here any time you want."
To show a different attitude, while this saving process was going on, I had racked up a big car repair bill at my regular dealership. For some reason, I didn't want to put the bill on my credit card, so I took my checkbook and a bunch of cash, including rolls of Golden Dollars to pay the bill. Later on when I told the manager that some people questioned my paying the repair bill with a pile of rolls of Golden Dollars, the manager said, "You can spend your Golden Dollars here any time you want."
Too many years on the border for me. I want nothing to do with more than a few hundred dollars in cash.
Bring it. Unless the use of actual cash is eliminated there are some who have spent their lives dealing in cash and are adept in the "dynamics of flow." Joe
American Rescue Plan Act Clarifies Scope of Form 1099-K Reporting and Reduces De Minimis Threshold | Tax Withholding & Reporting Blog
SO we get 1000-k's for paypal and other third party transactions now?????
My understanding is that no new taxes for those making less than $400k, so we should be all set...!
That said, the US dollar is on death's doorstep, and will soon to be replaced by the equally worthless digital dollar/cryptocurrency. This new digital dollar scheme will ensure that every single transaction is taxed. Our overlords demand this.
There's a lot of information on how our monetary system is on the verge of collapse, and how digital currencies are being teed up in many countries. You just won't see these stories in the "news." Non of this is good for the common man.
US Congress Quietly Sneaks In Crypto-Bill Amendment Authorizing Central Bank Digital Currency | ZeroHedge
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Caj, to what government are you referring?
Federal
Shadow
State
County
City
Executive branch
Legislative branch
Judicial branch
Army
Navy
Marine Corps
Coast Guard
Air Force
Space Force
National Guard
They all have gone ***** now and then, sometime, most of the time and always. Most of these entities have mistaken the average Joe and Jill for money fountains to fund their pet projects, political beliefs and biases, leaving most of us with not enough funds for a Big Mac. OUR individual needs are seldom considered, and writing, phoning or appearing to complain will seldom result in much except maybe a boilerplate letter or e-mail thanking us for our concern.
"I will keep your comments in mind" is the biggest smoke screen I can think of.
I'm off my soapbox now. I'll just confer with my friends Jim and Jack - they never argue and always assuage me.
John
Federal
Shadow
State
County
City
Executive branch
Legislative branch
Judicial branch
Army
Navy
Marine Corps
Coast Guard
Air Force
Space Force
National Guard
They all have gone ***** now and then, sometime, most of the time and always. Most of these entities have mistaken the average Joe and Jill for money fountains to fund their pet projects, political beliefs and biases, leaving most of us with not enough funds for a Big Mac. OUR individual needs are seldom considered, and writing, phoning or appearing to complain will seldom result in much except maybe a boilerplate letter or e-mail thanking us for our concern.
"I will keep your comments in mind" is the biggest smoke screen I can think of.
I'm off my soapbox now. I'll just confer with my friends Jim and Jack - they never argue and always assuage me.
John
Wanna put an end to government over reach on taxes and over spending?
Abolish payroll withholding and make employees responsible to pay their own taxes.
If people actually saw and then were forced to pay directly from their own accounts what is withheld by employers there would be riots in the street.
Neat trick they have developed of taking it before you see it.
But what do you expect from people who claim zero dependents so they "get more money back" from the government. They never stop to think how much they could do with that money were it in their hands for a year instead of uncle Sam's. Most do not even realize the money they are getting back is and was theirs the entire year.
A nation of idiots is easy to steal from.
Abolish payroll withholding and make employees responsible to pay their own taxes.
If people actually saw and then were forced to pay directly from their own accounts what is withheld by employers there would be riots in the street.
Neat trick they have developed of taking it before you see it.
But what do you expect from people who claim zero dependents so they "get more money back" from the government. They never stop to think how much they could do with that money were it in their hands for a year instead of uncle Sam's. Most do not even realize the money they are getting back is and was theirs the entire year.
A nation of idiots is easy to steal from.
Digital currency is about much more than just taxation.
Nothing new for some, this was foretold a long time ago.
Really big narco and narco-terrorism money has been crypto for more than a decade.
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