Administrator dena Posted July 15, 2018 Administrator Share Posted July 15, 2018 Numismatists should be worried about how the hobby will be affected by a labyrinth of tax rules. Read More rrantique 1 Link to comment Share on other sites More sharing options...
World Colonial Posted July 15, 2018 Share Posted July 15, 2018 The impact is no different than auction firm increases in buyer's fees. Depending upon the specific requirements, buyers may need to adjust how much they pay to compensate for any sales or use tax. As with auction buyer's fees, in theory it should come mostly at the expense of the seller. In practice, it only will in some proportion. Link to comment Share on other sites More sharing options...
bsshog40 Posted July 15, 2018 Share Posted July 15, 2018 Yea this ruling is trying to make all online sellers start charging taxes. Some states are complaining they are losing billions of lost sales tax dollars. Just another way for the gov't to get into peoples pockets for more tax dollars. I'm sure large sales companies are familiar with taxing items but not sure how this is gonna affect the little guy that just sells items here and there. Link to comment Share on other sites More sharing options...
ldhair Posted July 22, 2018 Share Posted July 22, 2018 This is going to be a real pain for sellers. Lots of record keeping and each state will be creating new laws. It's going to be a mess. Link to comment Share on other sites More sharing options...
Just Bob Posted July 22, 2018 Share Posted July 22, 2018 (edited) Maybe I need to buy shares of Intuit. Looks like there will be lots of copies of QuickBooks that will need to be upgraded. Edited July 22, 2018 by Just Bob Typo VKurtB 1 Link to comment Share on other sites More sharing options...
KarenHolcomb Posted July 22, 2018 Share Posted July 22, 2018 Idk about the SC Ruling but about the new tax deal I do, but I was reading that Scots Auction site and it was saying that when buying and selling 'precious metals' that it can be completely anonymous. Are coins considered precious metals? It does say that-I'll attach a screenshot and maybe y'all can clarify it for me? Link to comment Share on other sites More sharing options...
Conder101 Posted July 28, 2018 Share Posted July 28, 2018 Reporting who sold to a dealer is one thing, the collecting and remitting the sales taxes is completely different. Link to comment Share on other sites More sharing options...
