I just read the article and some of the phrases and way words were used by the slayer are VERY similar to posts I see written here...hmm...
Influencers and Hermes
- Thread starter kttREX
- Start date
The FBS replies to me read like bad AI. The interview was pretty uninteresting. The page was interesting for a couple days but idk, influencers are a dime a dozen and it’s already become boring to me.
Some of their recent stories also make it seem as though TFBS has been watching
this thread... Hmmm...
So… Super Dacob is not a fan of TPF?
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.
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.
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It's completely doable. If you set up a business as an influencer (which obv you can do), the "necessary" costs of business are deductible, from ring lights to subscription costs. If you are also a reseller, yup, you could deduct losses on that business just as anyone buying items and selling items would do.
Would the IRS be bothered? Maybe, but they have bigger fish to fry. And not all these influencers are based in places that scrutinize the equivalents of LLCs and S-corps that heavily.
I see tons of Hermes pieces on fashionphile brand new listed at a crazy loss.
I wouldnt be surprised if they can write it off.
Sidenote : Thank you Mods for approving my name change! and @haute okole for indirectly inspiring it.
I wouldnt be surprised if they can write it off.
Sidenote : Thank you Mods for approving my name change! and @haute okole for indirectly inspiring it.
I hear there’s a new commissioner in town and 80 billion in funding from Congress to hired 80k plus auditors. I’m sure there’s a desire to target corporations and those of high net worth. But seems like they may also be frying those smaller fish since there have been talks about targeting individuals who make over 400k and cash only businesses.
Under the tax code in the US and court cases, these “losses” are not deductible and would be considered tax fraud. You cannot list the amount of pre-spend in your quest for a QB as a necessary business expense. However, if you sell something for less than retail, you may claim any thing less than retail that you sold the item as a loss. Anybody listing pre-spend as a necessary business expense should be worried if they are audited and I doubt a professional tax preparer would complete forms including pre-spend as a necessary business expense.
To stay OT, I would bet that these people who carry real Hermes are borrowing or renting the runway. I don’t even let my own kids post on their own social media with my stuff. The only time they can wear my stuff is when I am with them.
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I thought the comments were strange on the PurseBlog article and discussed with friends who agreed. Everyone said it had to be the rep ladies responding, and I searched for the PurseBlog article + Reddit and there is was.