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setec

Could this affect the EL Marketplace inside the US ?

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What I find hilarious is that the American rebelled because of taxes on a couple of items.
You missed the point entirely mate, go back to school. The rebellion was because of not recieving any representation in the government, it was a small island across an ocean making us pay colonial taxes to them (even though ours were actually lower than those of residents of Britain, it was about the representation).

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Living in England i know that we ourselfs are allowed to earn so much before we are taxed on it,and any money made from private sales ie: garage sales/car boot sales/private sales between friends are tax free unless you make a business of it .Take Ebay for example in England you can sell items and not be taxed on your earnings unless said earnings go over a certain amount per annum (when as rightly so the tax office decide you are using ebay as a business and you are taxed)

 

In the good ol' US, the first 5K USD per person are extempted from the federal tax.

However, you do have to pay taxes for any profit you make in the US, except for donations/gifts. In theory, even for barter you are supposed to pay taxes (like if I am a dentist and I fix your teeth, and you are a plumber and you fix my pipes), we'd both have to pay taxes for that, although you can put the service you performed as a business expense.

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Did you, like.. watch that documentary?

 

As a matter of fact I did. I didn't come to the same conclusions as the producer, however, the video production was not that bad compared to some documentaries that I've seen.

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What I find hilarious is that the American rebelled because of taxes on a couple of items.
You missed the point entirely mate, go back to school.

 

Why would I learn about it in school? Totally pointless.

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However, you do have to pay taxes for any profit you make in the US, except for donations/gifts. In theory, even for barter you are supposed to pay taxes (like if I am a dentist and I fix your teeth, and you are a plumber and you fix my pipes), we'd both have to pay taxes for that, although you can put the service you performed as a business expense.

 

 

Any profit ?? say from the sale of your car privately ? or is that exempt from taxes .if not then they got you by the balls to be honest lol

 

Like they say Born Free Taxed To Death

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As a matter of fact I did. I didn't come to the same conclusions as the producer, however, the video production was not that bad compared to some documentaries that I've seen.

 

So then, what is the conclusion you arrived to after watching that documentary?

 

Any profit ?? say from the sale of your car privately ? or is that exempt from taxes .if not then they got you by the balls to be honest lol

 

Like they say Born Free Taxed To Death

 

Yes, in theory any profit you make, including selling your car, winning the lottery, winning some prize froma TV game (some guy went to jail because he didn't declare that), and so on.

Of course, most of the people won't declare every single little thing, but if you have an electronic trail, like we and many other business have, then you pretty much have to declare everything.

Stores and other business that deal with a lot of cash have the luxury to 'forget' about some income. But since we get very little cash compared to electronic payments, we just declare the cash too, because it won't make a big difference anyway.

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As a matter of fact I did. I didn't come to the same conclusions as the producer, however, the video production was not that bad compared to some documentaries that I've seen.

 

So then, what is the conclusion you arrived to after watching that documentary?

 

The conclusion I came too is that this is one of the best propaganda pieces that I've seen to date and the very same fear tactics he accuses the government of he used in this film, carefully pieced together. But he has the freedom to do that.

 

I enjoyed it because I always like to see other's views are but I don't agree with any of his views.

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Yes, in theory any profit you make, including selling your car, winning the lottery, winning some prize froma TV game (some guy went to jail because he didn't declare that), and so on.

Of course, most of the people won't declare every single little thing, but if you have an electronic trail, like we and many other business have, then you pretty much have to declare everything.

Stores and other business that deal with a lot of cash have the luxury to 'forget' about some income. But since we get very little cash compared to electronic payments, we just declare the cash too, because it won't make a big difference anyway.

 

 

I can totally understand your dilema and some ppls worry then .you obviously have a goverment who taxes every cent they can. Am i right in thinking every citizen of the USA has to do/work out there own taxes per year and declare every cent they have earned ? because here the tax on are earnings comes out of our wages before we even get it (unless you are self employed and then you have to fill in your own tax form once per year).

 

If that is the case then i can still see EL itself as a business not having to much to worry about above and beyond what you pay now in taxes. But I think what they will try to get is individuals to declare any RL money they have made through online games ( ie: a player selling COLs for RL cash) and then Tax them on that . Harsh but i can see it happening ,because games like second life have made it possible for ppl to make quite a bit of RL money from playing online and if they tax one persons online game earnings then they have to tax the lot. Dont think it has anything to do with taxing online gold coins/or items untill that gold/item is transferred into RL cash but hey i might be wrong goverments have very funny ideas and grab money where they can .

 

 

Edit : Must say you have my sympathy .We complain about taxes here in the UK but they dont seem half as draconian as yours

Edited by conavar

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The conclusion I came too is that this is one of the best propaganda pieces that I've seen to date and the very same fear tactics he accuses the government of he used in this film, carefully pieced together. But he has the freedom to do that.

 

I enjoyed it because I always like to see other's views are but I don't agree with any of his views.

 

Ok, so you didn't watch the movie then, just pretended you did because you didn't think I will ask you specific questions,a nd you thought you'd get away with vague answers.

 

I can totally understand your dilema and some ppls worry then .you obviously have a goverment who taxes every cent they can. Am i right in thinking every citizen of the USA has to do/work out there own taxes per year and declare every cent they have earned ? because here the tax on are earnings comes out of our wages before we even get it (unless you are self employed and then you have to fill in your own tax form once per year).

 

If you are employed, you still have to do your own taxes but so long as you don't have other sources of income, it's easy because the employer calculates all the taxes and you don't even see the tax money in hand, so you just fill in some simple forms and that's it. Of course, you can deduct all kind of things, such as the home interest, local taxes, donations, etc. which complicate things a little.

However, if you do have a business, then things are a 'little' bit more complicated, to the point that last year we had to have our taxes done by a professional (you can do it yourself, but a professional can give you better advice, find more deductions, etc.)

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.

 

 

 

However, if you do have a business, then things are a 'little' bit more complicated, to the point that last year we had to have our taxes done by a professional (you can do it yourself, but a professional can give you better advice, find more deductions, etc.)

 

That is true ,professionals know more loop holes and can save you more money in deductions than you ever could as an individual,which hopefully works out enough to offset the cost of hiring them ,unless you are lucky enough to know someone in the business who does it for free.

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