2021 NIKE SB DUNK THREAD_____GRs and QSs added

8,003
10,615
Joined May 7, 2002
What is everyone’s thoughts on this?
Starts in 2022...So all these small time resellers better get their stuff sorted out this year or at the very least game plan how they want to approach their hustle...

The big movers in the aftermarket were already dealing with taxes on their yearly sells anyway so they’re already well aware of how this will affect their gig...It’s the type people who come up on a pair of Union Jordan 1’s on a raffle win that are going to be in for a shock...

As for the end of sneaker reselling? No way unfortunately...The vacuum that the small time resellers leave will be quickly filled out by the big time movers...The ones that already have the financing and infrastructure built out to be able to absorb the extra inventory...

If anything we’ll see aftermarket prices go up since these big sellers will be the ones setting the market...They won’t have the small time quick sell guys out there to undercut them...Plus they’ll have the ability to play the long game and sit on that extra inventory, essentially waiting out the buyer since that quick sell competition is gone...The big time guys are out there drooling waiting for this to kick in...
 
6,621
32,720
Joined Feb 21, 2010
What is everyone’s thoughts on this?
Bro you don't need a 1099 to owe taxes, you still need to pay taxes on any income you make. If you have been selling sneakers at all, you need to report that income. This should not make a difference or come as a surprise, the only people that will stop reselling are the people that haven't paid their taxes on their sales and aren't about to start now. I've paid taxes (or at least included my sales in my return) for years without a 1099. Trust, the government knows every penny you make (unless its cash under the table) whether you are sent a form or not and whether you choose to include it or not.
 
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3,642
15,676
Joined Jun 30, 2016
Almost all older highs are noticeably cheaper on the aftermarket. That's why I've scooped so many more highs for the low (ha) over the last couple of years. I have four stellar pairs of dunk lows but I do wish I had a pair of SB dunk lows as well. They're just so much more expensive now.
 

KanyIZZY

formerly j o 19
15,100
33,054
Joined Oct 1, 2004
More bs to make it harder to get anything or afford anything.. because the government is greedy.. taxing online items apparently wasn't enough. It's disgusting that they do nothing about the actual problems but make it worse for the people affected by it. I never considered the whole sneaker retirement thing but it looks like everyone is just going to do it FOR me at this point.

Bots, reselling, fees, taxes... folks can't just buy a shoe huh? :stoneface:
 
785
3,372
Joined Dec 29, 2019
What is everyone’s thoughts on this?
Not even close to the end. If anything, all this is going to do is push small timers to go back to fb marketplace/IG and arrange local meetups for cash under the table. like verse001 verse001 said WRT selling online, 1099 or not, they owe taxes for that ****. The 1099 they're going to get in 2022 is just going to make it harder for people to play dumb when the tax man comes.

In terms of reselling as a whole, the big boys won't be going anywhere, and if anything, I think this is just going to increase scarcity and make prices GO UP. If a reseller sees something priced at $500 with 2 pairs available vs $500 with 30 pairs available, they are going to make a different choice IMO.

The one potential benefit out of this is raffles may be less contested because people might end up being more selective about what they buy because flipping is not going to be as simple and the ROI will be much smaller. But that also means that bot entries will have a bigger slice of the pie as well, so a bit of a double edged sword even there.
 
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12,986
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Joined Jun 21, 2015
Not even close to the end. If anything, all this is going to do is push small timers to go back to fb marketplace/IG and arrange local meetups for cash under the table. like verse001 verse001 said WRT selling online, 1099 or not, they owe taxes for that ****. The 1099 they're going to get in 2022 is just going to make it harder for people to play dumb when the tax man comes.

In terms of reselling as a whole, the big boys won't be going anywhere, and if anything, I think this is just going to increase scarcity and make prices GO UP. If a reseller sees something priced at $500 with 2 pairs available vs $500 with 30 pairs available, they are going to make a different choice IMO.

The one potential benefit out of this is raffles may be less contested because people might end up being more selective about what they buy because flipping is not going to be as simple and the ROI will be much smaller. But that also means that bot entries will have a bigger slice of the pie as well, so a bit of a double edged sword even there.
I'm all for it if it means we'll see less people line up with their entire family and their extended family looking to cop with the intention to flip. That takes away pairs from people who actually want to keep them for personal use.
I almost never pay resale anyway, so it doesn't bother me that prices might go up because of less undercutting in that market.
Anything that'll put a dent in reselling sneakers is OK in my book :nthat:
 

DonRafa

formerly rafsjays
Supporter
16,898
27,306
Joined Oct 27, 2005
dude in that video sounds misinformed AF. First off uber, lyft and all other side gig apps have BEEN sending 1099s. they’re not affected by the new law at all.

as for resellers you’d only have to pay taxes on the profit since you were taxed on the shoes when purchasing them at retail. second of all these selling apps need your SSN in order to be able to send you a 1099. How they are gonna enforce this will be interesting and is yet to be revealed.

as for the end of reselling? nah. if anything resellers are gonna go harder to recoup the money paid in taxes. and like someone else mentioned, most major resellers are already reporting taxes. this isn’t the death of reselling but the rebirth of the in person meet up :lol:
 
5,818
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Joined Apr 16, 2014
dude in that video sounds misinformed AF. First off uber, lyft and all other side gig apps have BEEN sending 1099s. they’re not affected by the new law at all.

as for resellers you’d only have to pay taxes on the profit since you were taxed on the shoes when purchasing them at retail. second of all these selling apps need your SSN in order to be able to send you a 1099. How they are gonna enforce this will be interesting and is yet to be revealed.

as for the end of reselling? nah. if anything resellers are gonna go harder to recoup the money paid in taxes. and like someone else mentioned, most major resellers are already reporting taxes. this isn’t the death of reselling but the rebirth of the in person meet up :lol:
They will probably just update their terms of service to make it that you have to add your SSN to list or sell an item.
 

DonRafa

formerly rafsjays
Supporter
16,898
27,306
Joined Oct 27, 2005
They will probably just update their terms of service to make it that you have to add your SSN to list or sell an item.

yeah, that’s what i expect to happen. but it could also bite them in the *** as all these apps/sites have constant data breaches. i could see a lot of people not wanting to give their socials
 
24,268
47,373
Joined Nov 16, 2018
What is everyone’s thoughts on this?
Link to my opinion:

In short, the little ppl gets ****ed and remain under b/c of capitalism & big buisness. Republicans, Libertarians, etc hate socialism when if it isn't majorly being applied to rich (white) ppl.

This is what we are paying back despite trickle down economics being so lovely. Jeff Bezos & his contrapartes are pieces of ****.
1617822299827.png


Reselling isn't going anywhere.
 

KanyIZZY

formerly j o 19
15,100
33,054
Joined Oct 1, 2004
dude in that video sounds misinformed AF. First off uber, lyft and all other side gig apps have BEEN sending 1099s. they’re not affected by the new law at all.

as for resellers you’d only have to pay taxes on the profit since you were taxed on the shoes when purchasing them at retail. second of all these selling apps need your SSN in order to be able to send you a 1099. How they are gonna enforce this will be interesting and is yet to be revealed.

as for the end of reselling? nah. if anything resellers are gonna go harder to recoup the money paid in taxes. and like someone else mentioned, most major resellers are already reporting taxes. this isn’t the death of reselling but the rebirth of the in person meet up :lol:
Pretty sure Ebay made everyone that was selling give them their social in order to be paid out. Can't remember but I think others have not done it but they'll just say give us the social or you don't get paid. I hate everything at this point.
 
4,557
6,167
Joined Apr 7, 2013
people thought they weren't coming back for all that stimmy money :lol:

just classic how the governments first place/idea is to go after the little guy

head of the IRS on record has said how the little guy will just pay up because they don't have the resources to fight like the huge companies can:smh:
 
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