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Originally Posted by blakep267
youre comparing a small service, to somebody who is selling inventory, massive inventory. He said he had 70 pairs of shoes that he planned to sell. Thats a small shoe store. If he charges 200-300 per pair, thats 14k to 21k, untaxed. Sure its a good investment, spend 7k get double to triple in return, but you also gotta pay taxes, and seeing as how he's a little goofy ( goes to meet in a lot, also brags about business on tv), I doubt he isOriginally Posted by Mojodmonky1
Originally Posted by blakep267
Im just assuming hes not filing 1099 forms. He is a teen, right? I could be wrongyoure probably right. but to say that what he is doing is not a legit form of work/income because of the tax liability is a weak argument at best.
i mean, what a bout a kid who goes door to door shoveling snow out of neighbors driveways and gets paid in cash. is anyone going to say that this kid isnt earning an honest buck because he isnt filing a tax return on that income?
Where did it say he had planned to sell the 70 pairs?