Is the inflated Bike market finally crashing?

THATmanMANNY said:
This is stupid. Going all cash. Start using cash again before that gets taken away in the next century
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I'm with you but next century? I'm worried about being cashless in two years! The Government isn't looking into creating a digital coin through the Fed for nothing ya know.

With that said I have no problem with tax cheaters having to pay their fair share.
But this whole thing goes against how certain politicians sold the tax issue to their base. No trillionaires getting caught up in this lol. I guess some one has to pay for those 87,000 new armed IRS agents. Guess who?
 
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It’s stupid because I don’t care about the flea market vendor not reporting income. I make my living and he/she makes theirs. It is what it is. And the dudes making these rules… c’mon do they even try hard to make a living?
 
THATmanMANNY said:
It’s stupid because I don’t care about the flea market vendor not reporting income. I make my living and he/she makes theirs. It is what it is. And the dudes making these rules… c’mon do they even try hard to make a living?
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what if they made more than you but don't pay taxes? if they make less that $10k/yr total they don't pay either way.....
so doesn't matter - ie a hobby for a retired person.
 
I don’t care either way. Bigger problems. How does it really affect me even if it’s times hundreds of thousands of peoples. Most people (90%+?) have required reporting. I know like one person out of the hundreds I know that fly under the radar.
 
THATmanMANNY said:
I don’t care. How does it really affect me even if it’s times hundreds of thousands of peoples. Most people (90%+?) have required reporting.
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that's fine if you feel that way - they'll also claim food stamps, section 8 housing, medicaid, etc.....
you know, the stuff the man taxes you for to help the people that really need it...
 
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Patrick said:
that's fine if you feel that way - they'll also claim food stamps, section 8 housing, medicaid, etc.....
you know, the stuff the man taxes you for to help the people that really need it...
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Totally agree. Except when they claim to go after the bastards cheating on programs like that, they end up hassling a lot of folks who legitimately qualify instead. My experience has been that the government officials go after the easy targets, aka everyday people who can't afford a bank of lawyers to fight for them, rather than the professional scammers, and tax avoiding major corporations. You know, the guys who contribute heavily to the election campaigns of politicians on BOTH sides of the isle.
 
mtbiker87 said:
and tax avoiding major corporations.
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they follow the law.
ask the politicians to close the loopholes.

mtbiker87 said:
You know, the guys who contribute heavily to the election campaigns of politicians on BOTH sides of the isle
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oh, seems related!

the ethics violations are amazing.

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maybe AI will help in the future - find the hidden money. People spending beyond their means yet not increasing debt load, etc.

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it makes me nuts when someone deserving is denied services because they can't advocate, or find someone that will.
 
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RockNRoller said:
I'd say yes. Lots of great sales this past Black Friday- Cyber Monday. I picked up a brand New DiamondBack Sync'r for 50% off. Lists for 1500, got it for 750 with free shipping.

REI is clearing out a lot of bikes and LBS in my area are willing to negotiate. So imho a big heck yea to prices dropping.
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That Sync'r was one heck of a deal. I was ready to pull the trigger but didn't. At 5'10 half of the people were recommending M the other were saying to go L...I didn't want to chance an online purchase and have the fit be wrong. In hindsight I should have just ordered a Large as I feel better on roomier bikes.

I hope there will be some good after Christmas sales. I'm looking at getting a hardtail, sub $2k retail with a healthy discount.
 
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xmonger said:
That Sync'r was one heck of a deal. I was ready to pull the trigger but didn't. At 5'10 half of the people were recommending M the other were saying to go L...I didn't want to chance an online purchase and have the fit be wrong. In hindsight I should have just ordered a Large as I feel better on roomier bikes.

I hope there will be some good after Christmas sales. I'm looking at getting a hardtail, sub $2k retail with a healthy discount.
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I'm in the same sizing boat. I downsized to a medium. In some ways I think a Large -may- have worked but I couldn't find any to try so I went with two LBS suggestions to downsize.

One of those reasons was the standover. My old Kato Large had none so if I got pitched I was singing Soprano. The medium DB fixed that perfectly. If you follow RAD, the DB medium is spot on for me. But I think a half inch to inch extra in reach and height -could- be perfect but I'm not tweaking it yet until I get more ride time in. With that said I'm loving the bike.

I don't think the deals are done. 2023 updates may drive some more 2022 clearance. Best of luck and enjoy the hunt.
 
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Patrick said:
they follow the law.
ask the politicians to close the loopholes.



oh, seems related!

the ethics violations are amazing.

----

maybe AI will help in the future - find the hidden money. People spending beyond their means yet not increasing debt load, etc.

----

it makes me nuts when someone deserving is denied services because they can't advocate, or find someone that will.
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I was lamenting on this subject with some friends last night. She does third party coding work for eBay (they are still finding references to PayPal in documentation despite spinning off PP years ago). eBay is not interested in the small sellers anymore - they've conceded that market to FBM. Now they are trying to compete with Amazon, which personally I find rather amusing...

My friend is heavily into the vintage slot car world (mostly old HO T-Jets) and a number of his friends (and is younger brother) deal them as a side business. So he has looked into how to keep the records for tax purposes. My general take was similar to what Patrick has said: you'll need to do some more record keeping, but it doesn't need to be anything extravagant. In the unlikely event you did get audited, nobody at the IRS really wants to deal with a million receipts. A simple spreadsheet will do. When you bought it, how much you paid for it, when you sold it and for how much. Since most of us selling used bikes and bike parts are actually losing money on these sales, the net income will be $0.
 
I sold a Ticket on Ticketmaster for $50 and I have to fill out a Tax Form before they send a payout? I get like $30 after they take the fees out 🤣
 
IRS is delaying the 1099-K changes until next year -
Also looking at setting the limits to something that looks more "business" oriented.

d128d02d69efe906af8fe47bef4685e5.jpg


www.foxbusiness.com

IRS delays new tax-reporting rule on Venmo, PayPal payments over $600

A controversial new tax-reporting policy involving payments over $600 on e-commerce platforms like eBay and Etsy will be delayed by one year, the IRS said.
www.foxbusiness.com www.foxbusiness.com
 
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Patrick said:
maybe AI will help in the future - find the hidden money. People spending beyond their means yet not increasing debt load, etc.
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Personally, I think on this issue you are off the mark. Ever tried to reason with one of those ‘AI’ customer service for any telecommunications providers? It sounds easy and righteous until you find yourself caught in a big mess literally for doing nothing wrong.

Also, how do you think to go about closing loopholes that have been created specifically for some individuals to get away with murder (figuratively speaking that is)?
 
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