2024 NIKE SB DUNK THREAD_____GRs and QSs added

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
 
Ended up taking the Curries into a local cobbler this morning, who punched the missing lace hole for free and Kicks Crew is refunding $10 for the defect (so $370 all in, which I would pay again for these hands down any day of the week).

These are gonna get a lot of wear.
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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 ****.
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Reselling isn't going anywhere.
 
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.
 
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:
 
I'm saying:lol: how they gonna send a valid 1099 without it?

Because if the seller is trying to get a payout, it would be through PayPal or his Bank account. Both of which already have your SSN and would send a 1099.

Amazing watching that video of some kid complaining about having to pay taxes as a reseller. The level of entitlement in these kids is astounding. Not only they do feel entitled to take advantage of sneaker culture for personal financial gain, but they think they shouldn’t have to pay taxes on those gains either? Wow.
 
Because if the seller is trying to get a payout, it would be through PayPal or his Bank account. Both of which already have your SSN and would send a 1099.

Amazing watching that video of some kid complaining about having to pay taxes as a reseller. The level of entitlement in these kids is astounding. Not only they do feel entitled to take advantage of sneaker culture for personal financial, but they think they shouldn’t have to pay taxes on those gains either? Wow.
I've had PP so long I dont remember if I gave them my SSN. I did start applying for PP credit once and never finished because they wanted my ssn.. That 1099 would automatically make the crib a home office then right :nerd:
 
I mean taxes were paid on initial purchase. Imo you shouldn't have to pay taxes on reselling. A platform user fee okay fine. But taxes to the government? **** no they already got their cut the first time.
 
that’s what i’m sayin. forcing sellers to provide socials is gonna cost them a lot of customers
Like others have said, the customers that aren’t about it are the small time flippers. Those are the ones undercutting left and right to make a $15 profit. If they’re gone, the Heberts and bulk boys of the world will really be able to control the market with the little man out.
 
I mean taxes were paid on initial purchase. Imo you shouldn't have to pay taxes on reselling. A platform user fee okay fine. But taxes to the government? **** no they already got their cut the first time.

The taxes that were paid on first purchase are typically sales tax, versus income tax which is what the IRS views as any income on sales you as a seller made. when the customer buys them off you from whatever platform (eBay, StockX etc) they will pay sales tax again.

Sales tax = paid by buyer at time of purchase
Income tax = paid by seller at tax time

So on a resold sneaker, the government theoretically gets paid multiple times with each sale and income tax on sellers.
 
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