StockX and GOAT will die out for sellers due to Biden's American Rescue Plan Act

[Hank Scorpio]

Just I sold my extra Travis Scott for $1400 & brought shoes. This is only hurting "resellers" like me & ppl that could use the extra money to feed themselves. It affects the rando on ebay selling off his POLO collection to make room for his newborn.

This situation happens too far in between. Let's be honest here, the majority of these sellers are re-sellers and using this as means of income.

Pay your ****ing taxes

 

[WASHED KING]

This is a tax on the middle working class...while the whales sit back and don’t pay any more.

 

[blastercombo]

This is a tax on the middle working class...while the whales sit back and don’t pay any more.

Yes but that’s 2 issues with 2 needed solutions

 

[WASHED KING]

Yes but that’s 2 issues with 2 needed solutions

Very True.

 

[americangenius]

This situation happens too far in between. Let's be honest here, the majority of these sellers are re-sellers and using this as means of income.

Pay your ****ing taxes

Anyone making under 20k in SALES isn't truly making a living off of this. This only hurts the small guy, large resellers hit the threshold in the first month.

This is just taxing middle class.

 

[kingsrborn]

This was going to happen sooner than later, because it's not just about shoes at this point. Our government has most likely peeped game when it comes to how people are hustling/working online nowadays. It's not just resellers clearing 6 figures and up a year, due to social media transforming alot of these guys into uncontrollable tricks/simps, your local cutie with a nice shaped body can also clear 6 figures a year and up from their ******** account. Then we have to take in to account of how anybody can monetize their talent/career independently online by themselves. So this was going to eventually happen anyways.

 

[kingsrborn]

I wouldn't be surprised if the government implements a online system for the majority of these social media sites to take in your social # with all of your personal info to track/monitor your every business/cash discussion (transfer). If they don't do it sometime soon, it'll be done within the next 10 years because this is America, and our government literally controls everything when it comes to money/income. Everybody wants to flaws and be seen, so this is the result. It's like any other hustle, the quiet ones win, the loud mouths always lose.

 

[blastercombo]

I wouldn't be surprised if the government implements a online system for the majority of these social media sites to take in your social # with all of your personal info to track/monitor your every business/cash discussion (transfer). If they don't do it sometime soon, it'll be done within the next 10 years because this is America, and our government literally controls everything when it comes to money/income. Everybody wants to flaws and be seen, so this is the result. It's like any other hustle, the quiet ones win, the loud mouths always lose.

Yeah o think you’re right about this. Lots of money if just being passed around now and social media makes that process even easier. Always amazed me how Craigslist has absolutely zero moderation, security, or checks and balances. Social media transactions operate the same way more or less.

 

[stuntman mike]

just to clarify: if i were to sell just under 20k worth of payouts on stockx and the money went through my paypal account, what are the chances i'm tagged by the irs if i were to not report that income? this is just hypothetical but i need to make sure because we are right there to jump to the next tax bracket.

 

[KanyIZZY]

What's everyone's plans this year for dealing with this. I'm no reseller but I need to sometimes let go of a shoe to get another. Last year I sold a few personals to help with the wedding ring. I'm def a guy like marikomorose ..

This stuff doesnt affect who it SHOULD. And its not that few and far between when you are a legit sneaker collector. Gotta be some work arounds besides going to craiglist.

 

[mr z]

What's everyone's plans this year for dealing with this.

I'm not....don't need the IRS breathing down my neck. More reason to keep everything I got.

 

[Public Enemy]

What's everyone's plans this year for dealing with this. I'm no reseller but I need to sometimes let go of a shoe to get another. Last year I sold a few personals to help with the wedding ring. I'm def a guy like marikomorose ..

This stuff doesnt affect who it SHOULD. And its not that few and far between when you are a legit sneaker collector. Gotta be some work arounds besides going to craiglist.

Not buying "try" stuff is how I'm handling it. Covid made it impossible to try stuff on and it was already damn near impossible because of my shoe size. I'd never had a pair of 3s or a pair of 14s so I tried those and being able to sell them if I ended up outside of the return period was my fallback. Same with some huaraches. But now I'm going to only get shoes I know I can hoop in, I know I will keep (amps), or I am just loving so much I know I won't sell. I also try to limit myself to NDC so returns are super easy and no nonsense.

 

[aepps20]

StockX will be fine and I will continue to support them.

 

[KanyIZZY]

Move

 

[sneakaprince]

What's everyone's plans this year for dealing with this. I'm no reseller but I need to sometimes let go of a shoe to get another. Last year I sold a few personals to help with the wedding ring. I'm def a guy like marikomorose ..

This stuff doesnt affect who it SHOULD. And its not that few and far between when you are a legit sneaker collector. Gotta be some work arounds besides going to craiglist.

What's good Nupe? Happy belated founders day.

Anyway I will probably do as much as I can locally in terms of reselling.

We had an abundance of Facebook groups dedicated to reselling here and I have a solid reputation in the city so most people have no problem doing business with me.

The downside is the risk that comes with that. People have been robbed etc out here and I try not to put myself in harms way. I usually do meet ups at police stations etc to avoid the ruckus.

Otherwise I might just bite the bullet and pay the tax man.

 

[SAINIDIIvIIAINI]

Simply put...

C.R.E.A.M

But with that like some have mentioned, people out there trying to come at your neck so watch yourself doing these in-person transactions or be safe and just pay the tax. People had to know the government wasn't giving out free money during the pandemic.

 

[KanyIZZY]

What's good Nupe? Happy belated founders day.

Anyway I will probably do as much as I can locally in terms of reselling.

We had an abundance of Facebook groups dedicated to reselling here and I have a solid reputation in the city so most people have no problem doing business with me.

The downside is the risk that comes with that. People have been robbed etc out here and I try not to put myself in harms way. I usually do meet ups at police stations etc to avoid the ruckus.

Otherwise I might just bite the bullet and pay the tax man.

Yerrr.. thanks for that!

Big facts about the dangers that come with meet ups etc. I did this back in the day because I'm wacko lmao but back then were different times. I did a lot of meet ups with folks from this site. Few long times and a bunch of random folks over the years.

My city sucks for this though and NYC is land of the come up Might have to go mercari or w/e and be patient whenever I have to dump something and I need to consider that 1099.

 

[sneakaprince]

Simply put...

C.R.E.A.M

But with that like some have mentioned, people out there trying to come at your neck so watch yourself doing these in-person transactions or be safe and just pay the tax. People had to know the government wasn't giving out free money during the pandemic.

Joe ain't winning over any fans as of late. That Lil tax law change could be looked over if he did what he promised while campaigning and actually did something about these student loans.

I hate to get political but dude really not trying to get re-elected as it stands.

 

[sneakaprince]

Yerrr.. thanks for that!

Big facts about the dangers that come with meet ups etc. I did this back in the day because I'm wacko lmao but back then were different times. I did a lot of meet ups with folks from this site. Few long times and a bunch of random folks over the years.

My city sucks for this though and NYC is land of the come up Might have to go mercari or w/e and be patient whenever I have to dump something and I need to consider that 1099.

The younger me kept a small pistol with me during my meet ups and that always had me feeling somewhat safe but truth be told the last thing I wanna do is kill a kid over sneakers man, or even lose my own life because of something so dumb.

That'd be the worst way to go out in my 30s imo. **** so meaningless at the end of the day.

 

[KanyIZZY]

sneakaprince That's wild It's not like folks dont let it go in NYC but its heavy no carry here. But I feel you.. especially now a days. I used to take my Kappa kane OD for a while when I first crossed though.

 

[sneakaprince]

sneakaprince That's wild It's not like folks dont let it go in NYC but its heavy no carry here. But I feel you.. especially now a days. I used to take my Kappa kane OD for a while when I first crossed though.

Lol I used to keep my Kane in the car but then I switched to a truck and it seemed kinda pointless (I was also getting old).

Wisconsin is more lax on the gun laws so I just kept the grip.


Don't take those chances in NYC. Even Wayne did a year in Rikers. I'm all the way good on those types of chances.

 

[plansb]

So is this really happening? What is the total dollar threshold per year?

 

[sneakaprince]

So is this really happening? What is the total dollar threshold per year?

All dollars man.

If you sell online you get a 1099.

 

[heelsandeers]

All dollars man.

If you sell online you get a 1099.

It's $600

 

[plansb]

So if I sold something for $x that I paid $x for then Would I have to have original receipts? How does that work since it should only be on profit right?