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Post by joe_meadmaker on Jul 7, 2023 14:08:49 GMT
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tera
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Post by tera on Jul 8, 2023 7:49:31 GMT
Just stating this for future records, but our forum rules prohibit encouraging illegal activities, which would includes Tax Fraud.
Paypal F&F for commercial transactions at your own risk, seek legal counsel, etc.
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pellius
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Post by pellius on Jul 8, 2023 13:52:20 GMT
It has been a while since I studied tax, but I think the fundamental measure for income tax is still an “undeniable accession to wealth.”
Since selling something gains the payment but looses the asset, the income is the difference between the amount paid for the item and the amount for which it sold. Income thru G&S sales of swords is likely to be minimal (if not an outright loss).
F&F receipts, on the other hand, are not balanced (on paper) by the tendering of an asset, so it would be much easier for the IRS to show the entire payment as income.
fwiw
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