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Post by stardiamond on Oct 2, 2022 19:18:57 GMT -5
I thought I made it clear. My only goal that after taxes, my hobby is self funding, not a business.
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Post by stardiamond on Oct 2, 2022 18:13:23 GMT -5
Most of my expenses are from Amazon and Paypal so I can retrieve them but I might not want to spend the time to do it. And that’s exactly the intent. It’s the discouragement of business. Make it such a hassle people don’t want to do it anymore. It’s such a shame. The killing of the great American dream. Even though I pay more taxes under the current tax laws (and as someone who has most of his income from social security it is not fair), increasing the standard deduction saved me a lot of work scrounging for deductible nickels. The lowering of the amount where electronic payments get reported was part of the covid stimulus package to help pay for it. An overly honest person would have reported their income, taken their deductions and paid appropriate tax. I would have preferred that the amount was lowered less. It really isn't about profit or loss, it is documenting the transaction. Here's an example. I bought $3,000 worth of portable oxygen generating equipment (for COPD) and I will sell it on ebay for less, Say $2200. Paypal will report the $2200 to the IRS. When I file my taxes, I report the $2200 and then take a corresponding deduction assuming I can find adequate documentation. Here's another example. Someone buys $5,000 worth of merchandise at yard sales and sells it on Ebay for $18,000. Under the old rules, the income isn't reported and the person is running a business and not paying taxes. Now the income gets reported. I sell cabochons as part of the hobby and as long income is greater than the costs to produce, the costs associated with selling and additional taxes. If I were selling to help with living expenses I would be unhappy because of the additional documentation required.
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Post by stardiamond on Oct 2, 2022 12:09:02 GMT -5
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Post by stardiamond on Oct 2, 2022 10:06:58 GMT -5
I recently received an email from my accountant. He said that I should be sure that I have all receipts for all business expenses available. That I should have all receipts for all items sold available. All business expenses listed monthly. Copies of all utility bills, vehicle insurance, phone bills, internet, etc., available. To be sure to split postage costs from purchase prices for both income and expenses. Shipping supplies. The list goes on and on. It includes some things I do not have receipts for. Stuff like purchases off the internet and at garage sales. Was also told to ensure that my business had a profit this year. That it would be to my advantage to list a $5.00 profit, even though there was a several hundred dollar loss. The way things are going, I probably will not have a loss. The new tax laws for small businesses are a nightmare for everyone. I'm retired and in a very low tax bracket. With the new tax laws I will have the income reported. Expenses reduce income but finding $1,000 in expenses might reduce my taxes a little over $100. Most of my expenses are from Amazon and Paypal so I can retrieve them but I might not want to spend the time to do it.
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Post by stardiamond on Oct 1, 2022 22:04:46 GMT -5
I mark the face with a fine point sharpie, trim and then redraw the shape on the back with an extra fine sharpie. I've never had the lines come off with the trim saw. The only thing I mark with pencil is the girdle line. After removing the cab from the dop, I use acetone, qtips and an xacto with a chisel blade. Most of the time the sharpie lines come off. When they don't I use a 280 soft wheel. Pencil washes off on the trim saw and can when grinding. I am not skilled enough to shape when the lines on the bottom disappear.
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Post by stardiamond on Oct 1, 2022 15:35:26 GMT -5
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Post by stardiamond on Oct 1, 2022 12:45:24 GMT -5
The pattern on Badger Pocket Sycamore depends on the cutting angle when slabbed. This slab I bought got it right.
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Post by stardiamond on Sept 30, 2022 17:39:14 GMT -5
I picked up this slab on ebay. It wasn't cheap but it was big. Finding any BW has become almost impossible. It seems like it all went to India and some from cabs from India are not the Mexican BW. The replacement is Cold Mountain. There are some fantastic slabs available which are expensive. Looking at some of the slabs offered, buying rough is a gamble. The Cold Mountain cabs go for less than the BW.
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Post by stardiamond on Sept 30, 2022 11:04:23 GMT -5
As I suggested in Tella's "I'm Done With Etsy" thread a couple of years ago... forum.rocktumblinghobby.com/thread/90755/etsy"Have you folks ever considered doing a co-op site for selling cut stones? Once the initial costs of such a site like that being setup is completed, keeping it online shouldn't be too expensive. Keep it limited and quality controlled and I could imagine the potential to grow exposure without costly advertising could be done with properly labeled photos of cut stones that would appear in the searches for images on Google, Pinterest, Instagram, etc.. Just typing off the cuff here but it may be something to think about." Look at what Sam Silverhawk was able to achieve with his independently owned site. www.samsilverhawk.com/gems1.htmlSam isn't as active these days as he used to be. But back in the day he drew a lot of traffic to his site and built a large following of buyers by offering quality photographs of quality material cabochons. Photos of cabs so gorgeous that hundreds of Pinterest and Instagram users saved his cabochon photos to their social media pages which were linked to Sam Silverhawk's selling platform. So much so that when doing an online search of any specific material cabcohon, and then clicking on the "images" link for the search results, nearly always Sam Silverhawk's cabs were well represented. It was free advertising. And once found, buyers of cabochons will return to any source of quality material as long as the cabs are photographically well represented and are priced fairly. As they have continued to do with Silverhawk's site. Most of his cabs are priced in the $45 - $60 range and each batch usually sells out within a few hours of listing. Again...something to think about. Silverhawk was a rockstar on ebay with a lot of fans. It made sense for him to have his own site. He hasn't listed anything for 5 years. My wife collected cabs and that is how I got into the hobby. The best place I know of to sell cabs outside Etsy is the cabs and slabs facebook page www.facebook.com/groups/539242229527605Etsy makes it easy to sell and since I am doing this as a hobby, I'm not concerned with maximizing income. Do I like Etsy? No. I believe ebay is worse for a seller. I have some excess slabs and ebay is preferable to Etsy for selling them. I like ebay a lot as a buyer.
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Post by stardiamond on Sept 29, 2022 18:12:28 GMT -5
I'm don'e with them as well and have switched to eBay Beth I don't know why they require you to have a card on file to buy items. That is news to me. I haven't sold any jewelry or cabs on it yet a d may look into other sites first. facebook is probably the best place www.facebook.com/groups/539242229527605I do this as a hobby and if they demand secure information I will notify my customers and close my shop.
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Post by stardiamond on Sept 29, 2022 17:50:30 GMT -5
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Post by stardiamond on Sept 29, 2022 15:40:16 GMT -5
Is it possible that it is a scam? I already receive payments to my checking account. It has been that way for 3 years when I set up my account.
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Post by stardiamond on Sept 27, 2022 14:45:08 GMT -5
Same pattern as previous; views and visits way up and sales are flat.
I received a code from Etsy for 20% off up to $50. The discount is paid by Etsy not the seller. I used mine on a slab from another Etsy shop. I made one sale today from a new customer and am guessing it was from the code promotion. I didn't ask the customer.
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Post by stardiamond on Sept 19, 2022 12:08:24 GMT -5
Better light.
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Post by stardiamond on Sept 18, 2022 20:45:10 GMT -5
get rocks, make cabs, get more rocks. Set for life is not in my vocabulary. There are plenty more rocks with your name on them.
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Post by stardiamond on Sept 18, 2022 12:36:11 GMT -5
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Post by stardiamond on Sept 18, 2022 9:29:55 GMT -5
Those are the original pictures I used for listing without change. The whole thing may be a scam. One of these is mine and being resold on Etsy. www.etsy.com/listing/1222305222/blue-mountain-jasper?gpla=1&gao=1&Top cab from group one was sold to a buyer from Rancho Cordova for $22 in December 2020 and the Etsy shop is located in Sacramento which are neighbors.
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Post by stardiamond on Sept 17, 2022 22:16:14 GMT -5
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Post by stardiamond on Sept 15, 2022 15:22:28 GMT -5
There are two worlds; geysers and drip. Drip is the heavy favorite. The Genie system has two issues, pump maintenance and plugged geysers. I don't use the Genie system. I use other geysers and an aquarium pump.
One of the big advantages of a Genie is the spinoff right side adaptor and with an extra adaptor and spacers there a lot of possible configurations. For example, two wider wheels instead of the three standard. With geysers, they can be moved underneath the wheels and with drip things are set.
Drip is more popular than Geysers for manufacturers because there is no need for a pump and consumers have a deep seated fear of using recirculated water, I am one of the oddballs who prefers geysers.
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Post by stardiamond on Sept 15, 2022 12:12:10 GMT -5
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