Involuntary Coach ban support group
- Thread starter LauraTracy
- Start date
TPF may earn a commission from merchant affiliate
links, including eBay, Amazon, and others
Happy New Year, C! I hope your special Christmas bag goes on sale and you love it!Happy New Year to my favorite ladies!I hope the first couple days of the years have been good to you. Anybody break a ban yet?
Just kidding! I haven't. Even though I got Christmas $ to spend. I've been waiting for the price of what I am interested in to go down. That cost me already, of course. One of the bags in my cart sold out a couple days ago. Oh well.
What a cute little backpack!Happy New Year! I’ve already broken our ban.It’s not even lunch yet. Look what arrived last night (had to get it this morning from the neighbour as we were out with our family last night).
View attachment 5285677
It’s the Pennie 22 backpack in 1941 Red. I’ve never carried a backpack ever but I love the colour. It was a really good deal ($179 CAN) so I could not stop myself. This is my second red bag. I also own the Lunar New Year Callie.
View attachment 5285679
Anyway. You’ll find me in my beach chair cuddling my Pennie in my lap. Drink?
Happy New Year!Happy New Year to my favorite ladies!
I broke my ban this morning, but it was encouraged by my DH lol.
Good work holding on to your Christmas Cash! Hopefully you will be able to snag one of the items on your wishlist at a great price!
Day 3 of 2022 and I haven’t bought a bag. This year is a great success so far 
I’m using my new spearmint Dooney satchel today and it’s making me so happy. Very happy with this purchase.
One of my poor kitties seems to have an infected tooth so she is going to the vet today. A couple of years ago the vet warned she may need more teeth out so it may be at that point. She hasn’t let it stop her from eating yet though, she loves food lol
I’m using my new spearmint Dooney satchel today and it’s making me so happy. Very happy with this purchase.
One of my poor kitties seems to have an infected tooth so she is going to the vet today. A couple of years ago the vet warned she may need more teeth out so it may be at that point. She hasn’t let it stop her from eating yet though, she loves food lol
I bought my last 2 bags of 2021 mid December so I’d like to make it to mid February. 2 months in between purchases has felt good for me. It lets me get excited about newness.
Congratulations! Now the rest of us can breathe a sigh of relief that we weren't the first!
Glad to hear the pink PM wears well
. I used to sell my contemporary bags but stopped for a few years due to being too busy and also at a good place with my contemporary bags. But I bought so many new Coach last year (thanks to FOS ) that I am out of storage space. So no choice but to sell off a few. Congrats on your new bag and sorry about your ban — looking forward to seeing it.Day 3 of 2022 and I haven’t bought a bag. This year is a great success so far
I’m using my new spearmint Dooney satchel today and it’s making me so happy. Very happy with this purchase.
One of my poor kitties seems to have an infected tooth so she is going to the vet today. A couple of years ago the vet warned she may need more teeth out so it may be at that point. She hasn’t let it stop her from eating yet though, she loves food lol
Hope your kitty‘s tooth gets better soon
Day 3 of 2022 and I haven’t bought a bag. This year is a great success so far
I’m using my new spearmint Dooney satchel today and it’s making me so happy. Very happy with this purchase.
One of my poor kitties seems to have an infected tooth so she is going to the vet today. A couple of years ago the vet warned she may need more teeth out so it may be at that point. She hasn’t let it stop her from eating yet though, she loves food lol
Great job on not buying a bag. Poor kitten. Hope she feels better soon.
I believe it is the settlement date or the date the sale is complete they owe you the money and that is when the revenue would be recognized. I am a CPA but this is a new rule so i am just looking at it now. I am also seeing that yes you will incur the $600 or more in a 1099k but you will just need to show evidence of what you originally paid so you can deduct that from the money you earn. For most everyone you are not going to get more for the bags then you paid for them even if you bought something used on the market places. I just checked my Coach account and my Zappos, walking company, amazon, ebay and dillards. All my purchases are visible. I will download those printouts so what i sell in the future i will have receipt for my purchas prices and the tax will be zero net on my returnI am wondering if I should withdraw my PM sales earnings now (while it is still 2021) so it doesn’t count against the $600 limit for next year. I don’t know if they use the date of your actual sales or the date of withdrawal of funds. I know you all are not tax professionals but wondering if it’s obvious one way or another to anyone and I am overthinking. Thanks
Ive been reporting my income from eBay sales on my taxes for a few years as I do make a profit and it’s not very complicated.
I get why people are kind of nervous about it but it’s not hard if you keep record of what you paid. I would say the vast majority of people will not have to pay taxes on their sales as they’re going to be taking a loss.
Ebay lobbied hard to not have this rule go into effect because they knew this would make people nervous. So I foresee them and the other platforms putting out tutorials and explanations / calculators to help people come tax time.
Yes a tutorial or something would help. I keep a basic spreadsheet (sale price, selling fees, shipping and my COGS) and it shows a loss. I keep receipts in a folder with spreadsheet, but haven't done anything with them. Are you supposed to "show your work" because short of filling out a schedule C I didn't see where to do that. Maybe it'll be apparent with 1099k? I'm not a business or selling for profit, just selling my pre-owned items and haven't gotten any 1099ks yet. I already culled my collection and will just donate from now on. I'm not as worried about the taxes as I am the unknown of the process and would rather not create more work for myself. I will have to be very careful/more thoughtful with my purchases from now on though.
This is me. I don't want the hassle, having to have proof, having to share my ssn for the 1099 for the resale site, etc, etc.