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Seems to me most dont really understand the topic. It has nothing to do with how much you bought stuff for or how much more you sold it for, or business expenses or deductions.
Basically the threshold for paypal, venmo or cash app to report your earnings to the IRS has been lowered. Previously it was above 200 transactions or 20K in a year.
Now it is only $600 per year. This is part of the American Rescue Plan Act in response to Covid 19 costs.
Taxman will add total value of money received by individuals to your yearly earnings at tax time.

If you receive payment as friends and family, then it is not earnings, but the buyer has to protection from scammers.

I think we understand the topic.  People have been utilizing friends and family since the beginning of Paypal.  It was always the way you avoided fees.  Now it's a way to avoid fees and taxes.  If I don't know, or have some connection, with a seller then I refuse to send it friends or family.  No one can require it.

Income is income. It doesn't matter if it is a business or not. For a sole proprietor, aka anybody that has a social security number, if you earn money that isn't reported on a standard W2 (or other reported statement) you are expected to report that income via other means. You can claim expenses, for example shipping or internet service if used for the sales, they are claimable expenses. That expense goes against your income, effectively negating that amount of money. This gets filled out in schedule C. If the IRS comes knocking, they will want you to prove your expenses though, so just making things up to negate income is not a good idea. I keep my receipts for five years in case of an audit. The hard part for me is tracking R&D time and expense, which is a big part of my business. A lot of companies throw gobs of money at R&D as a write off.

If you charge $20 but only get $17 from PayPal after fees, then you only earned $17. It doesn't matter what you charge, it matters what you receive.

If say you bought an item and used it for 3 years after paying taxes on it as well....Then you sell it lol how is that making a profit/income if you already paid $$ for it and your just getting some back :) I don't see it as profit more of recovery of funds spent already.  Unless they can prove I sold it for more than I bought it, that could be income !

Most purchases are for depreciating assets, so it's not likely to gain value, but for that to be a profit you'd have to sell that item for more than you paid for it. Then the margin would be taxable. If you buy a junky RD350 for $500, put $1k into it, and sell it for $2500, you would owe the IRS on that $1000 in profit.

You pay taxes on money over value, so if that RD has a NADA value in GOOD condition for $1200, then the tax is based on that value.  Since you paid $500 and invested $1000, that's a loss over value.  Your taxes are technically for the difference.  There's a lot of debate over whether classic cars and motorcycles are considered collectible, which would put them into Capital Gains territory.  So far, the Fed excludes them from being a collectible.  At $1000 profit, you barely have to report the income. 

So many people put the effort out there to avoid the taxes up front, but not nearly the effort to avoid them on the back end.  It's not hard to blend enough cash income to earn good net without taxes.  I learned a great lesson in college working at a record store. I made $110/wk (this was the 90s) in claimed income for 8 years.  The rest was cash.  I wonder if those FB sellers are putting too much reliance on their internet sales and not mixing it in with enough cash sales to offset.  Unless you do it full time, it's really not hard to offset claimed income with expenses.

note:  I wasn't in college for 8 years.  LOL.  I realize how that looks after I typed it.  HAHA

Come to Pittsburgh and enjoy one of these monstrosities (if you have been to a chain they are good but nearly as good as the original).

Seems like the Primanti Brothers of today is not the same as the Primanti Brothers of yesterday.

Irk, this should provide a good start for sorting out the jetting. (see attached)
If the jetting is still in the out-of-the-box config you'll defintely need to do some tweaking. I believe there are some members here running TM32s like you on a very similar setup who can provide some insight.

I like the nearly-finished product. Looks great! Can't wait to see it with paint.

Thank you for that document.  That will help a ton. 



Been talking to a buddy pretty knowledgeable who is telling me some of my expectations are a bit off.  I have an XS and I'm expecting a ton of low end torque similar to the XS.  He is suggesting the combo of porting and pipes gets me more of a road racer and I need to get it up above 6k to really get into the power band.  This is opposite of my experience with motorcycles, so it's something I need to learn.  I am definitely not revving, nor am I really getting on the throttle per se.

The build is mostly done (minus paint and body), so I took it for test rides. This is the part where I get really inexperienced. It rides nothing like I expected, so I need to find the tune. It shows little power in the lower gears. The power band comes on way up in the rpm's.  Very little low end torque.  It shows the ability to get up in speed, though I never took it above 4th gear. Any advice on stuff to go through is much appreciated. I can't remember the jetting in these carbs, in fact the jetting may be as they come. I need to go back and check.

I am extremely happy with my Vape system. 

Mine came in a few weeks back and so far so good.  I've just bench run the bike so far, though, so we're still a bit out before I know what the street says.

The idea is to live young as long as possible.

Eat less fatty foods, so your overall health risk is net loss and you can still feel good about the risk from riding.

Please keep us posted how things go and recover.  I've never had it done, but I need it in both hands.  The potential for a long recovery has me really nervous.  I've been told anywhere from one week to six.

Irk, Thought I was seeing double when I spotted this build on 2strokeworld.net....haha

Haha.  I figured the 2t knowledge base would be a little deeper over here, though Teazer has been all-knowing no matter where I post. 

Haven't heard the bad rap, and I'm okay with that.  I've bought a ton of parts from monkeyclaw's eBay store.  Two were delivered today.  LOL

Going with a Trail Tech Vapor.  Nice thing about the Trail Tech is the thermostat sensor threads into the LC head.

Even in a non-title pre-85 state like Georgia where I am at, it still makes a huge difference on a sale to have a title.  On a national scale like Ebay, you eliminate the majority of potential buyers.  North Carolina, where he's at, is damn near impossible.  I quit trying to sell non-title street bikes at Mid-O years ago because so many buyers were from PA.  PA people won't come near a bike without a title.

I just wrecked this past Sunday. HAHA.  1970 Honda CB350.  Front drum brake.  Going about 35, then went to brake as I approached my driveway.  Next thing I know, I ended up in a high side and shoulder to curb.  The craziest thing.