Sales forum has gotten out of hand

[MnFish1]

Reporting anything beyond my income tax from my job to the government is a waste.

Taxation is theft by definition

Whatever - Its not like I write the tax code. You can do what ever you want.

 

[reef_ranch]

I'm also interested in the bartering rule.
Lets say I buy a car (black), a friend buys the same car (red). we both pay taxes on them.
If i want to trade with him because I prefer red, we both still need to pay taxes again?

@lynn.reef.nerd this is my understanding:
the irs wants you both to report all trades worth $600 or more on form 1099-B and all trades on your income tax returns, but whether it is a taxable event will depend on your cost basis for the car you each traded. If you had depreciated your car to zero, you would have taxable income equal to the fair market value of the car you received (and could start depreciating the "new" car on your next tax return if you use it in your business). if both cars were worth exactly the same and your cost basis (what you paid for it less any deduction you took on the car in past tax returns ) was equal or greater than the trade value, you would have no taxable income.

also not an accountant, but i did once sleep in a holiday inn express

 

[lynn.reef.nerd]

@lynn.reef.nerd this is my understanding:
the irs wants you both to report all trades worth $600 or more on form 1099-B and all trades on your income tax returns, but whether it is a taxable event will depend on your cost basis for the car you each traded. If you had depreciated your car to zero, you would have taxable income equal to the fair market value of the car you received (and could start depreciating the "new" car on your next tax return if you use it in your business). if both cars were worth exactly the same and your cost basis (what you paid for it less any deduction you took on the car in past tax returns ) was equal or greater than the trade value, you would have no taxable income.

also not an accountant, but i did once sleep in a holiday inn express

That makes more sense.

 

[MnFish1]

And seeing that we as the human race are killing all of the coral in the oceans little by little, but I do not for see this happening any time during our lifetime.

It is time for everyone to start thinking, in terms of
when all the coral in the ocean die we are the only people that will be able to help re-populate the oceans with corals someday when conditions are favorable once again…..if ever again

Though there is some evidence that in certain areas (which seem to me to relate more to pollution being dumped directly into the ocean - as compared to warming - that coral is dying - there are many articles suggesting regeneration that is much faster than was expected. I am not of the opinion (hoping that there will not) that there will be any coral left in the ocean at some point. If that happens, God forbid, I would not assume that repopulating the ocean with tank raised coral would be possible - hopefully it's not coming to that. The article is only for interest - not to promote a climate, etc debate https://www.aims.gov.au/information...ing-reefs-decades-faster-any-other-coral-type

 

[CubsFan]

This thread is lame. No obligation for the crew to do shoot. Buy what you want. Sell what you want for whatever price seems fair to you. If you’re in the Lake Tahoe area you can pick up a free classic green hammer with purple tip and neon green caulestrea. Donations are welcome. Cash or trade. These corals were grown from 1 or two heads years ago. They might not be the most desirable corals, but they’re a gosh dang delight in my eyes. I could use some more space.

 

[Lost in the Sauce]

Y'all lost me when the mods showed up at page 4 but Well done to all for making it to page 13 without getting it Locked!

 

[CubsFan]

Y'all lost me when the mods showed up at page 4 but Well done to all for making it to page 13 without getting it Locked!

This thread isn’t even a thing. I don’t want to be a square. It’s really just a request from an individual that wants the stuff we all want at the best price. If I knew I could get the return on a potential loss from a lost coral, I’d be in. I gave this coral to a friend and I’ll soon give another frag to a local that I know can take care of it. I’d be willing to give another frag to the right person knowing that if my tank crashed, I could get that same piece back.

 

[Lost in the Sauce]

This thread isn’t even a thing. I don’t want to be a square. It’s really just a request from an individual that wants the stuff we all want at the best price. If I knew I could get the return on a potential loss from a lost coral, I’d be in. I gave this coral to a friend and I’ll soon give another frag to a local that I know can take care of it. I’d be willing to give another frag to the right person knowing that if my tank crashed, I could get that same piece back.

Ha. I've seen "this thread" not make it this long, way too many times.

I was sincere in the congrats.

 

[CubsFan]

Ha. I've seen "this thread" not make it this long, way too many times.

I was sincere in the congrats.

I hear ya. You’ve got a great thread. I’m following. l shouldn’t have linked you in my reply. My bad.

 

[CubsFan]

My internet was being lame and posts didn’t happen as fast as I wanted. Maybe double and triple posts. Oops.

 

[Lost in the Sauce]

I hear ya. You’ve got a great thread. I’m following. l shouldn’t have linked you in my reply. My bad.

Thanks. Beautiful mag.

 

[CubsFan]

The hammer? There’s still free frags. Possible snowboarding. Gonna be a long season folks. Get rad. I’ll be here.

Thanks. Beautiful mag.

 

[nuxx]

Prices will come down for everyone as soon as there is more supply than there is demand

Keep thinking this...

Everything is nuts right now...

Our old house we bought for $390 in 2009. Sold for $690 in 2019. Houses on the street are now $1.4.

Completely renovated the next house in a small town West of Austin next. Bought for $175, sold last month for $700.

House we just bought back in Austin at the end of 2022 was $800, family bought it new in 2015 for $500.

I was flat out told by a pool builder to just wait unless we absolutely need it. Basic of basic pools is $100 now. We built a crazy pool in 2016 for $60 lol

Just keep thinking stuff is going to cool down and then see we spent $200 at the grocery store on nothing......

 

[albano]

Keep thinking this...

Everything is nuts right now..
Just keep thinking stuff is going to cool down and then see we spent $200 at the grocery store on nothing......

You’re telling us!
Have you seen what online fish retailers are selling livestock for !!!!!

 

[nuxx]

You’re telling us!
Have you seen what online fish retailers are selling livestock for !!!!!

And the wholesale prices!

 

[JaimeAdams]

You’re telling us!
Have you seen what online fish retailers are selling livestock for !!!!!

And the wholesale prices!

Not to mention to $12 a kilo international freight rates to bring that livestock in (was $3 2yrs ago)

 

[Asagi]

Fun old video from Jake