Paypal Changes for 2022

@northman

A G R E E

I have yet to make a single penny of profit form selling audio gear.

AudioGone is an apt descriptor  

@wsrrsw 

Lots of high end discontinued gear getting more expensive with time. The proofs are all around: vintage phono carts and NOS tubes, rare discontinued cables, OPPO Players…. For example discontinued Cambridge CXU price got almost twice more expensive than original price 5 years ago. 

So, if you buy a piece of gear for $1,000 and sell it for $1,500 you have a $500 profit. Depending on your tax bracket you would owe between zero and $185 (37%) in income tax. You might owe some state income tax as well depending on where you live. Would anyone here find this offensive? Paying around $200 in income tax because a statistical outlier of a piece of gear appreciated?

This is a nothing cheeseburger...its not a big deal to pay income tax as a hobbyist if you get lucky and something appreciates. If its a big deal, start a business, pay the fees necessary and set up shop. It looks easy and is hard as heck to make money in the audio business.

OR

You can pay a few dollars in income tax on the absolutely rare occurrence that a couple of items here or there MIGHT have appreciated enough to generate a profit. Senseless handwringing.

So, in that rare case like selling an oppo 205 we can say “buyer to pay shipping, PayPal fees and estimated income tax due”. 

I love all country that have woman and I no buy or sell gear. I buy Maggie from dealer Wilson and Rockport buy trade in and dealer have to deal with government.