Jump to content

Payment for used parts


Recommended Posts

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

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

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

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

 Share

×
×
  • Create New...