FS Wrigley Crackerjack $850

PJammin

$850 shipped and insured. Had it since day 1. Always said I’d get it framed and it’s been in the portfolio just unappreciated. Going to try here at $850 then up on EBay at $1000 like the others. Sold here to other members if you need a reference. Otherwise I’m on eBay and Discogs under RiverCityRecords. Used to sell a ton of vinyl so you can see my ratings. 

mace1229

I’ve had this framed and hanging in our living room. I never noticed the “a fun factory concoction” and “safety first” until I saw your post..
The last couple I saw went for crazy high, this seems a decent price nowadays.

PJammin

Yeah I saw one hit $1600 on EBay. That seemed a bit odd. One sitting right now at $999 but is a little beat up. I’ll give it a day or so and try eBay. If it doesn’t work out maybe it’s the motivation I need to finally frame it. 

Guy Dudebro

PJammin said:

Yeah I saw one hit $1600 on EBay. That seemed a bit odd. One sitting right now at $999 but is a little beat up. I’ll give it a day or so and try eBay. If it doesn’t work out maybe it’s the motivation I need to finally frame it. 

Maybe the 1099K you’re going to get from eBay after your sale will be motivation to frame it. 

PJammin

Guy Dudebro said:

PJammin said:

Yeah I saw one hit $1600 on EBay. That seemed a bit odd. One sitting right now at $999 but is a little beat up. I’ll give it a day or so and try eBay. If it doesn’t work out maybe it’s the motivation I need to finally frame it. 

Maybe the 1099K you’re going to get from eBay after your sale will be motivation to frame it. 

Haha - this is also true. I think I’ve even mentioned the 1099k thing in another thread somewhere. It’s the primary reason I don’t sell much vinyl online these days. I’ve got some odds and ends up for sale but once I had to start filling our tax forms it became less of a hobby and more of a job. 

on2legs

PayPal and Venmo etc. are now required to give you a 1099k as well I believe starting this year.  Even if you aren’t using eBay. I think it’s any of these payment processing apps. 

Loujoe

Meet local only. Cash is king. I can see it now. Meeting in a parking lot. Make the exchange and the cops come storming in. Try to explain that to a non-fan. "I just sold a pearl jam poster for 1,000" you'd be taken in for extensive questioning.

PJammin

on2legs said:

PayPal and Venmo etc. are now required to give you a 1099k as well I believe starting this year.  Even if you aren’t using eBay. I think it’s any of these payment processing apps. 

You are correct! Heck, I had to fill out 1099K paperwork for Ticketmaster when I sold a pair of concert tickets on their platform. The government is sourcing out every possible drop of taxable income. 

PJammin

Loujoe said:

Meet local only. Cash is king. I can see it now. Meeting in a parking lot. Make the exchange and the cops come storming in. Try to explain that to a non-fan. "I just sold a pearl jam poster for 1,000" you'd be taken in for extensive questioning.

Hahaha.....yeah the optics of this transaction would be a tough sell to non-fan.

Cropduster-80

on2legs said:

PayPal and Venmo etc. are now required to give you a 1099k as well I believe starting this year.  Even if you aren’t using eBay. I think it’s any of these payment processing apps. 

EBay drastically lowered the threshold this year. I think that last year you had to sell over 20k before a 1099 was issued. This year it’s like $600 worth of sales.  Not eBay’s rule but still, that’s absurd to have a threshold that low.

2-feign-reluctance

So you only pay taxes on sales using those pay apps correct?

mace1229

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

PJammin

2-feign-reluctance said:

So you only pay taxes on sales using those pay apps correct?

Correct, goods/services. You'll be issued a 1099 for whatever you take in during the year that was paid for a goods/service. On your taxes you can obviously recognize the cost of goods sold (ie paid $35 for poster and sold for $850) so technically you only pay taxes on the $815. For me the hassle of keeping track of all of this was too much of a pain in the ass and I stopped selling used vinyl on Ebay. I only sell at shows now where it's a simple cash transaction or I can take paypal friends/family (where you dont pay taxes). 

2-feign-reluctance

Appreciate the explanation! Also, badass poster!! Hope you can sell it here without any additional hassles. 

PJammin

Cropduster-80 said:

on2legs said:

PayPal and Venmo etc. are now required to give you a 1099k as well I believe starting this year.  Even if you aren’t using eBay. I think it’s any of these payment processing apps. 

EBay drastically lowered the threshold this year. I think that last year you had to sell over 20k before a 1099 was issued. This year it’s like $600 worth of sales.  Not eBay’s rule but still, that’s absurd to have a threshold that low.

Yeah, for a while I think it varied by State. I think its universal now. 

PJammin

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

I've heard similar stories....wouldn't surprise me. I think in that last video he did with Eddie, where he interviewed him about Earthlings, Bruce even talked about he and Eddie riding horses. 

Cropduster-80

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 
Technically a poster is “art” the capital gains rate on art is different than ordinary income. 

PJammin

2-feign-reluctance said:

Appreciate the explanation! Also, badass poster!! Hope you can sell it here without any additional hassles. 

Thanks for the well wishes. I figured I'd give it a chance here in case someone is looking for it. To be honest I hate the idea of selling anything valued over about $100 on Ebay. I'll give this a shot and probably a FB forum or two. If not, as I mentioned earlier, maybe this is the motivation to finally get it framed. After all the poster did survive the storm that accompanied the show it's attached to. It deserves to be displayed. 

PJammin

Cropduster-80 said:

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 

Well said. I tried to keep up with it the first year or so and it wasn't worth the hassle. I do my own taxes, and the taxes for my wife's business, so I have a general idea of what you can/can't do. Flag #1 for IRS is not reporting income. Do not think you can get by not recognizing this 1099 stuff. They're not going to come and haul you away but you'll probably get a letter. Sucks but I always kind of figured it would eventually get to this. 

Cropduster-80

PJammin said:

Cropduster-80 said:

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 

Well said. I tried to keep up with it the first year or so and it wasn't worth the hassle. I do my own taxes, and the taxes for my wife's business, so I have a general idea of what you can/can't do. Flag #1 for IRS is not reporting income. Do not think you can get by not recognizing this 1099 stuff. They're not going to come and haul you away but you'll probably get a letter. Sucks but I always kind of figured it would eventually get to this. 

I edited the previous post to add even more complexity 😂

a poster is “art” and that is a different tax rate as it’s a set capital gains rate. That’s different than income from selling records 

a hobby all of a sudden seems to becoming a full time job in accounting 

tempo_n_groove

Cropduster-80 said:

PJammin said:

Cropduster-80 said:

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 

Well said. I tried to keep up with it the first year or so and it wasn't worth the hassle. I do my own taxes, and the taxes for my wife's business, so I have a general idea of what you can/can't do. Flag #1 for IRS is not reporting income. Do not think you can get by not recognizing this 1099 stuff. They're not going to come and haul you away but you'll probably get a letter. Sucks but I always kind of figured it would eventually get to this. 

I edited the previous post to add even more complexity 😂

a poster is “art” and that is a different tax rate as it’s a set capital gains rate. That’s different than income from selling records 

a hobby all of a sudden seems to becoming a full time job in accounting 

Too many people were making money and the govt wasn't getting their slice.  Can't have people with money walking around that don't deserve it right?

This is why the younger generation needs to go back to cash and ditch the apps.

PJammin

Cropduster-80 said:

PJammin said:

Cropduster-80 said:

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 

Well said. I tried to keep up with it the first year or so and it wasn't worth the hassle. I do my own taxes, and the taxes for my wife's business, so I have a general idea of what you can/can't do. Flag #1 for IRS is not reporting income. Do not think you can get by not recognizing this 1099 stuff. They're not going to come and haul you away but you'll probably get a letter. Sucks but I always kind of figured it would eventually get to this. 

I edited the previous post to add even more complexity 😂

a poster is “art” and that is a different tax rate as it’s a set capital gains rate. That’s different than income from selling records 

a hobby all of a sudden seems to becoming a full time job in accounting 

Hahaha....exactly THIS!!! A royal P.I.T.A. This is why I prefer to sell records at record shows, farmers markets, local music festivals, etc. Plus the interaction with the people is usually a plus......usually. There is always the one guy that is waaay to into prog rock and the older lady who tells you about ALL the Beatles stuff she had when she was young. It happens every single time. 

PJammin

tempo_n_groove said:

Cropduster-80 said:

PJammin said:

Cropduster-80 said:

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 

Well said. I tried to keep up with it the first year or so and it wasn't worth the hassle. I do my own taxes, and the taxes for my wife's business, so I have a general idea of what you can/can't do. Flag #1 for IRS is not reporting income. Do not think you can get by not recognizing this 1099 stuff. They're not going to come and haul you away but you'll probably get a letter. Sucks but I always kind of figured it would eventually get to this. 

I edited the previous post to add even more complexity 😂

a poster is “art” and that is a different tax rate as it’s a set capital gains rate. That’s different than income from selling records 

a hobby all of a sudden seems to becoming a full time job in accounting 

Too many people were making money and the govt wasn't getting their slice.  Can't have people with money walking around that don't deserve it right?

This is why the younger generation needs to go back to cash and ditch the apps.

Truth! I haven't paid a babysitter cash in probably 3 years. They prefer apps. 

dankind

PJammin

dankind said:

Hahaha....well played. Great movie! 

on2legs

PJammin said:

Cropduster-80 said:

mace1229 said:

I read an article a couple years ago that Springsteen’s house is set up as a ranching business that loses money and Bon Jovi has a bee farm on his property that’s set up as a failing business. So their house and everything out into it is tax deductible and don’t pay property taxes. That makes me mad if true and I have to pay taxes when I sell as poster.

It’s stupid because selling stuff doesn’t account for the loss/cost either.

let’s say you sell one of those tool signed albums. You paid 800 for it, you sell for 900.  You are taxed on 900 worth of income, not the 100 profit as your 1099 will only reflect your sales revenue.  If you lose money and sell it for 700 you still get a 1099 for 700 of income.  Then you have to back all that out 

save your receipts 

people doing this for a business are probably way more familiar with doing that. I suspect the average hobbyists will end up paying more than they need to 

Well said. I tried to keep up with it the first year or so and it wasn't worth the hassle. I do my own taxes, and the taxes for my wife's business, so I have a general idea of what you can/can't do. Flag #1 for IRS is not reporting income. Do not think you can get by not recognizing this 1099 stuff. They're not going to come and haul you away but you'll probably get a letter. Sucks but I always kind of figured it would eventually get to this. 

Yes to this.  They will follow up with you.  Years ago I inherited some savings bonds from a deceased relative and cashed them.  I was erroneously told that the estate paid the taxes on the bonds so I never reported it.  I got a letter from the IRS a couple years later for the unpaid tax.  They were nice about… gave me time to look into it and explain.  At the end of the day I wrote them a letter telling them I got bad info about  the taxes and sent them a check for what I owed.