Switching back to the topic mentioned before about influencers who buy tons of H items and offload them on FB and get bk offers . . .
It’s come to my attention that some “influencers” may be funding their shopping sprees through a business.
So are they are claiming business losses as deductions against profits on everything but bags? Could this explain how they are able to continue buying at the rates and levels they’re able to? Perhaps this is also how luxury influencers on YouTube are able to consistently afford luxury hauls every single week? Regardless of claiming those deductions aren’t they still taking huge hits/losses?
If the reality is one is funding a shopping addiction and intentionally buying items that one knows won’t hold value and in many cases will be less than 50% what they’re worth (watch, finesse jewelry, etc) and one is doing it on a regular basis, wouldn’t this raise eyebrows with Uncle Sam? Is this perhaps really a hobby? This intentional loss happens over and over on fb. Some of these “influencers”/resellers have even offered to buy items in advance and resell them at huge losses. I’m not a tax attorney, but something about all of this doesn’t smell right.