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Author
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Topic: Las Vegas Trip
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Lord Crovax
Member
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posted October 03, 2013 05:43 PM
      
quote:
Originally posted by coolio:
if you have to ask some of the questions that have been asked by those who view themselves as dealers, you're not a dealer.. you're a wannabe©
or inquisitive of the opinions of others... __________________
I shall have the souls of all who defy me. "Lord Crovax"
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coolio
Member
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posted October 03, 2013 05:47 PM
quote:
Originally posted by Lord Crovax:
or inquisitive of the opinions of others...
being established and having a network solves that.. if you have to ask the dumb questions, as the OP did, you're not a dealer. end of story © __________________
Since it is obviously inconceivable that all religions can be right, the most reasonable conclusion is that they are all wrong.
-Christopher HitchensReligion is regarded by the common people as true, by the wise as false, and by the rulers as useful.
-Seneca the Younger
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Lord Crovax
Member
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posted October 03, 2013 05:55 PM
quote:
Originally posted by coolio:
being established and having a network solves that.. if you have to ask the dumb questions, as the OP did, you're not a dealer. end of story©
Meh, being established and having a network doesn't always make one a dealer either though, I have both, and am in no way a dealer, not even close, I'm a upstart at best.
__________________
I shall have the souls of all who defy me. "Lord Crovax"
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Vermilion
Member
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posted October 03, 2013 06:27 PM
 
quote:
Originally posted by coolio:
if you have to ask some of the questions that have been asked by those who view themselves as dealers, you're not a dealer.. you're a wannabe©
+1
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coolio
Member
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posted October 03, 2013 06:43 PM
quote:
Originally posted by Lord Crovax:
Meh, being established and having a network doesn't always make one a dealer either though, I have both, and am in no way a dealer, not even close, I'm a upstart at best.
"5 binders with of modern and legacy along with 61 fetch(zendikar and onslaught) and 96 shocks plus mox opals etc." does not make one a dealer either © __________________
Since it is obviously inconceivable that all religions can be right, the most reasonable conclusion is that they are all wrong.
-Christopher HitchensReligion is regarded by the common people as true, by the wise as false, and by the rulers as useful.
-Seneca the Younger
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Lord Crovax
Member
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posted October 03, 2013 06:51 PM
quote:
Originally posted by coolio:
"5 binders with of modern and legacy along with 61 fetch(zendikar and onslaught) and 96 shocks plus mox opals etc."does not make one a dealer either ©
Agreed, that's just a person with a set or two, not even a weeks worth of trading... Maybe I'll start, to me a Dealer is someone with a large inventory (Large enough to have just about anything you could think of asking for), one who has established themselves via a store and/or events, one who has contacts to make up for anything he may not have in stock, and someone who is able to buy anything they may need to have in stock without issue, and lastly someone who knows the market and is able to accurately and quickly act upon it. The last one seems to one shot most who try and play dealer, also takes out most small stores... __________________
I shall have the souls of all who defy me. "Lord Crovax"
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WeedIan
Member
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posted October 03, 2013 06:59 PM
Trading for fun and profit that's what i do!__________________
Member Since 03/28/2001
12000+ posts
1st in posts in Ontario and Canada
9th in posts on MOTL
5th in Refs in Ontario
Pushing to get to top 100 in MOTL Refs
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mm1983
Member
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posted October 04, 2013 04:13 AM
quote:
Originally posted by WeedIan:
Trading for fun and profit that's what i do!
+1
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MAB_Rapper
Member
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posted October 04, 2013 04:27 AM
Worse comes to worse, spend the money and become an incorporated business. Might not make you a "dealer" but at least you can say you a legitimate business. That and you can write off everything.__________________
My 2008 Nationals
MOTL's Pro-Tour Winner 2007-2009
Tower Magic FacebookhilikuS: Also, as much as MAB's list has become the list on the T/A Forum, I do miss Slinga's.
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jbark
Member
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posted October 04, 2013 09:40 AM
^doesnt that mean you have to claim all sales and profits?
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superpup
Member
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posted October 04, 2013 12:31 PM
quote:
Originally posted by jbark:
^doesnt that mean you have to claim all sales and profits?
Technically, any profit should be indicated as income on your taxes either on the form 1040 Line 21, or completing Schedule C, especially if it is more than just a few hundred bucks, regardless of if you are incorporated or not. Sales tax for in-state sales and usage tax for items pulled out for yourself also are expected to be dealt with if operating as a business. I assume all of the real dealers here are doing these things and/or filing separate business tax returns.
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MAB_Rapper
Member
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posted October 05, 2013 04:33 AM
quote:
Originally posted by jbark:
^doesnt that mean you have to claim all sales and profits?
Yes it does. But it also means that I can expense everything business related, from ATM fees if I take out cash to gas every single time I go to my LGS. __________________
My 2008 Nationals
MOTL's Pro-Tour Winner 2007-2009
Tower Magic FacebookhilikuS: Also, as much as MAB's list has become the list on the T/A Forum, I do miss Slinga's.
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coasterdude84
Member
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posted October 06, 2013 08:47 AM
quote:
Originally posted by coolio:
"5 binders with of modern and legacy along with 61 fetch(zendikar and onslaught) and 96 shocks plus mox opals etc."does not make one a dealer either ©
At first I was wondering why everyone was being so harsh on the guy. I was thinking, "that's not a bad dealer stock." Then I read it again and realized it wasn't 61 of each fetch.
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D'Shay
Member
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posted October 08, 2013 10:44 AM
quote:
Originally posted by superpup:
Technically, any profit should be indicated as income on your taxes either on the form 1040 Line 21, or completing Schedule C, especially if it is more than just a few hundred bucks, regardless of if you are incorporated or not. Sales tax for in-state sales and usage tax for items pulled out for yourself also are expected to be dealt with if operating as a business. I assume all of the real dealers here are doing these things and/or filing separate business tax returns.
I am also curious if these "dealers" also have a business license and are legal with their profits/State they reside in. I dont think i recall blow out deals happening at the end of year on the sales threads to shore up inventories for tax purposes, but i could be wrong. I also wonder if they pay employees or just work by themselves.
[Edited 1 times, lastly by D'Shay on October 08, 2013]
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