pcristquester Posted January 3, 2022 Report Share Posted January 3, 2022 With the newest govt /IRS overreach, what are y’all doing for receiving payments when selling used parts? Link to comment Share on other sites More sharing options...
obsolete Posted January 4, 2022 Report Share Posted January 4, 2022 Planning on just paying my taxes, I guess? ¯\_(ツ)_/¯ Link to comment Share on other sites More sharing options...
pcristquester Posted January 4, 2022 Author Report Share Posted January 4, 2022 17 hours ago, obsolete said: Planning on just paying my taxes, I guess? ¯\_(ツ)_/¯ Me too, was just asking for a friend 1 Link to comment Share on other sites More sharing options...
tux Posted January 4, 2022 Report Share Posted January 4, 2022 Buy and sell in crypto Link to comment Share on other sites More sharing options...
Dad Posted January 9, 2022 Report Share Posted January 9, 2022 Most of you know that I closed the machine shop in October 2020. Still in process of dissolving the coproration, The parts sales all ran thru my machine shop parts department. Wife and I have been kicking around starting up again just selling Quest parts and even spoke with the Attorney handling the corporation closing. It appears that it may cost about $500.00 to get set up to buy and sell legit. I still have my supplier contacts but of course need a vendors license, federal tax id etc The new IRS regulations are pushing us this direction. There really isn't a lot of income derived from selling Quest parts, but the new regs are forcing people to not fly under the radar. I'll keep you all posted. In the meantime I need to come up with a name..... Suggestions? Dad Link to comment Share on other sites More sharing options...
Preludedude Posted January 10, 2022 Report Share Posted January 10, 2022 11 hours ago, Dad said: Most of you know that I closed the machine shop in October 2020. Still in process of dissolving the coproration, The parts sales all ran thru my machine shop parts department. Wife and I have been kicking around starting up again just selling Quest parts and even spoke with the Attorney handling the corporation closing. It appears that it may cost about $500.00 to get set up to buy and sell legit. I still have my supplier contacts but of course need a vendors license, federal tax id etc The new IRS regulations are pushing us this direction. There really isn't a lot of income derived from selling Quest parts, but the new regs are forcing people to not fly under the radar. I'll keep you all posted. In the meantime I need to come up with a name..... Suggestions? Dad Starquest Gains Link to comment Share on other sites More sharing options...
psu_Crash Posted January 10, 2022 Report Share Posted January 10, 2022 On 1/3/2022 at 6:48 PM, pcristquester said: With the newest govt /IRS overreach, what are y’all doing for receiving payments when selling used parts? Same thing I've always done Link to comment Share on other sites More sharing options...
obsolete Posted January 10, 2022 Report Share Posted January 10, 2022 20 hours ago, Dad said: In the meantime I need to come up with a name..... Suggestions? I think the name "Dad" still has so much good credibility from years in the Starquest community, I'd go with something like "Dad's Starquest Parts". Link to comment Share on other sites More sharing options...
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