emf123 said:I was thinking that the biggest problem the government has with raffles is money, or the lack of cut they get on the sale. It's probably much easier to falsify income tax records with a raffle.
So to all the cue wheeler dealers who do raffles, how are you going to report the income from these raffles on your taxes?
Answer at your own peril![]()
Eric
Eric, lets face it with the Internet revolution and all the sales being done around country it is up each person whether they report the income from these sales. There are certainly way too many for the government to track, just look at eBay, how many of those sellers report income for tax purposes. This is why you buy thing so cheap, people are running a business from their living room (no overhead) and they buy the things they sell at sales or from other Internet sellers (No paper trail). Is this right or wrong it can be answered either way depending upon your opinion and your sales idea's.
I own a retail billiards store in my pool hall, all my merchandise is taxed. However, I do not sell on the Internet do the amount of money sellers are will to make on products. I have seen certain individuals sell new cues here on the forum for $5 over my wholesale cost, I know they are not claiming this on their tax's. But the raffles, like I said this gives many people the chance to get something they may never be able to buy other wise, so whats wrong with it if it is honest.
Anyone with common sense knows that the money is going in some ones pocket not to charity. It is no different than selling a cue here and nothing else. The people who appear to be most disturbed by the auctions are the Flipper and the Sellers, but I think many of them may need to change their tactics.