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Post by curtis on May 25, 2022 22:19:14 GMT
I hear you on the paper copy instead of computer but in this day and age the time saved is well worth it. Best part is the computer is not connected to the internet. Has no WiFi, Bluetooth, or NIC connection. Older computer that I use just for things like this. AND YES I do not store the file on the computer!
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Post by scoutingdad on May 26, 2022 23:27:19 GMT
Well guys, thanks to new laws, if you sell anything that uses a credit card the card issuer now has to report the transaction to the IRS, It automatically is added to your income. Its now your problem to try to get that off your state and federal taxes. In the last 2 years I sold a couple of thousand dollars of trains on ebay I no longer wanted. This is now the second year eBay reported the sales - which by the included their fees, the sales taxes the buyer paid and the shipping costs. If you do not keep records you (or your heirs) will be held to paying those reported taxes. Worse if you do not make the adjustment you will pay the extra taxes. Illinois started this mess with 4 transactions or $2000 when the federal trigger was around $25,000. Now its much less for everyone. Get your inventory done and keep it in a place someone can use it when the time comes.
Contrary to the title - its critical you do the inventory otherwise the tax man commeth with a smile.
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Post by curtis on May 27, 2022 13:21:53 GMT
OH Boy, no not Big Boy, but it involves Big Boy. My boss ordered a Big Boy from Mr Muffins. After a long discussion with me he ordered the coal burner way back when orders were being placed. He ask me to order which I did. They were to arrive Thanksgiving 2021. Yeah Right! A few weeks ago Mr Muffin stated he a Restoration Big Boy that someone ordered but did not take. BAM! I go bit. So I ordered. Well my black cloud is still with me. It came in and when I opened it my cloud showed me that it is supreme! First unwrapped the locomotive. Hey, What is that? Hmm A screw. Where dd that come from? No Idea. Unwrap tender and what the heck? Wheel set still sitting in wrapper. Jeez. Okay cloud wins. Send it back. Catch me - Shipping $95.00 UPS. Meanwhile this week I get email from Mr Muffin saying Coal Burner is in. Call and ask to repair Oil Burner, which they got back and then TEST RUN along with Test Run Coal Burner. Got email saying repaired oil burner and test run both OKAY. NO idea where screw came from. Great, probably inside engine and they did not take apart. Both due to arrive today.
NOW HERE IS THE PROBLEM
My wife knows about the coal burner but not my impulse buy of the oil burner. I AM DEAD MEAT! When she enters this into the inventory, as I already have a coal burner Big Boy, she is not going to want to take a ride on a train lets say. I Love her but she can only take so much of my recklessness. As I said earlier "I'm in the doghouse now" song comes to mind. EXCEPT I do not have a dog house and it is suppose to have a heavy rain storm today into tonight.
Bottom Line ------ Inventory may not be worth all this. Keep me in your prayers please.
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Post by curtis on May 27, 2022 13:25:33 GMT
Wow my 500th post involves MTH Big Boy trains, My Wife, A dog and being in trouble. Sounds like the making of a great Country Song. All I need is a pickup which I own and drinking. Since I do not drink I wonder if 7Up Counts? If yes I got me a masterpiece that will go platinum! Anybody interested in a copy. I will include my spreadsheet since it will all be for sale!
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Post by Adam on May 27, 2022 13:39:28 GMT
Wow my 500th post involves MTH Big Boy trains, My Wife, A dog and being in trouble. Sounds like the making of a great Country Song. All I need is a pickup which I own and drinking. Since I do not drink I wonder if 7Up Counts? If yes I go me a masterpiece that will go platinum! Anybody interested in a copy. I will include my spreadsheet since it will all be for sale! Toss a hound dog in there somehow and you got yourself a grammy.
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Post by firewood on May 27, 2022 18:21:43 GMT
You people just do not understand! I love country music. My favorite song is "I'm in the doghouse now". LOL Naw really she is very supportive as I don't drink, smoke, do drugs, or gamble. My trains are my meds that relax me. Wait I guess I am on drugs then. Train drugs. AND everyone knows as you age you take more Meds. I like this - trains as meds. I'm stealing that one! Dave
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Post by Adam on May 27, 2022 18:54:20 GMT
You people just do not understand! I love country music. My favorite song is "I'm in the doghouse now". LOL Naw really she is very supportive as I don't drink, smoke, do drugs, or gamble. My trains are my meds that relax me. Wait I guess I am on drugs then. Train drugs. AND everyone knows as you age you take more Meds. I like this - trains as meds. I'm stealing that one! Dave Now if we could only get insurance to agree to that, then we could get trains every month and we only would need to pay the deductible. But then they would force us to buy generic trains that wouldn't work as well and would cause other problems on the layout, forcing the doctor to prescribe yet other types of trains that, again, would be a generic brand, and so on and so forth. Nevermind, I'll keep paying out of pocket.
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