$5 baseball

cozzie

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#1
I just read an article , where the fan that caught Bonds HR ball, has to auction it because he can not pay the taxes on it. I went to a Yankee game last week where there we 2 HR's. I understand the Importance of the Bonds HR ball, but why don't these guys that catch "said" HR ball , just tell the Gov't to fuck off , or at least charge the guy that catches a Ken Griffey HR ball that HE has to pay taxes on that ball. It makes no sense to me, they are all maybe $5 balls.


mods, i posted this here for more response , if need be move to sports ty
 

fuckwit

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#2
that is such bullshit. fucking government has to have their hand in everyones pocket. pretty much creates a situation where things like this are unobtainable by a common man. dude caught this ball at a baseball game and cant keep it as memorabilia because he cant afford to pay the government their cut of something they have no involvement in.
 

poppAwoody

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#3
how can there be taxes on a ball that doesn't sell? Taxes can't be assessed until a price it determined from someone buying the item, I don't see how this is realistic.
 

Kris_LTRMa

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#4
they're $5 balls with some "historical" value fools out there are willing to fork over hundreds of thousands of dollars. Far as I'm concerned it's just something else I'd have to dust & not worth that kind of money

Sadly, people catch these balls and dream of all the things they'll buy when they sell it only to be surprised to discover that Uncle Sam's hand is waiting for his cut before the ball is even sold. Ever try to tell the government to fuck off?

What I don't understand is how the government can tax a ball, or any type of memorabilia, before it's even sold. They "estimate" what the item's value is but what if they over estimated? What if the government estimated that Bonds' ball was worth $1 million and the guy only sells it for $500,000? He's paid more taxes than he should have ... is the government going to issue him a refund?
 

YaHearIHearMe

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#5
Tax a fucking caught baseball,
Pay illegal's medical bills,
and I leave the fucking hospital with a 30K bill
God Bless America
 

poppAwoody

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#6
theres another thing I cant stand, I speak english and have insurance so I gotta get brought to collections for some damn co-pays, but these non-english speaking fuckers dont even have to foot shit for the bill
 

cozzie

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#7
how can there be taxes on a ball that doesn't sell? Taxes can't be assessed until a price it determined from someone buying the item, I don't see how this is realistic.

if this is SOP, then tax a guy who catches A Johnny Damon ball 75 cents
 

Hudson

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#8
What a load of Horse shit! that is like paying taxes on a wad of chewed gum!!!!!
 

THE FEZ MAN

as a matter of fact i dont have 5$
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#9
i think i would have an issue with that , and would call them to task on it, i would pay taxes on the 5$ ball then if forced too pay the taxes on the sale, if i sold it, but i would go to jail before paying "estimated" worth of anything, fuck the government.
 

jackjack

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#10
What if the government estimated that Bonds' ball was worth $1 million and the guy only sells it for $500,000? He's paid more taxes than he should have ... is the government going to issue him a refund?
They never issue refunds, it's just considered a capital loss which can be used to offset capital gains. If the guy invested his 500k he wouldn't have to pay taxes on up to 500 k of gains. The loss credit never expires, so it's good until it's used up.
 

Kris_LTRMa

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#11
They never issue refunds, it's just considered a capital loss which can be used to offset capital gains. If the guy invested his 500k he wouldn't have to pay taxes on up to 500 k of gains. The loss credit never expires, so it's good until it's used up.
I knew they wouldn't give a refund, but I didn't know you could apply it against future capital gains. Good to know when I catch A-Rod's record breaking ball in a few years :rolleyes:
 

Dopie Opie

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#12
Anybody who says they will not pay taxes on something that is not sold or an estimated value is full of crap.

Any homeowner does it each and every year. We pay taxes on the assessed value of your home. Just because the house is assessed at $400,000 does not mean that you will get that once you sell your home.

The guy who caught the ball should get himself a good accountant and he will get most of his taxes back. He is from NY and could probably write off the trip to SF and a million of things, don't forget these tax loop holes are created for the rich.
 

jackjack

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#13
Any homeowner does it each and every year. We pay taxes on the assessed value of your home. Just because the house is assessed at $400,000 does not mean that you will get that once you sell your home.
That's not the same thing. The tax you pay on your home every year is not income tax, it's property tax that goes to the city or town you live in to support the local services you use, not to the federal government.

When you sell your house you pay income tax on the increased value.
Unlike the ball, you pay the tax after you sell the house, not before.

(primary residences have a 250k exemption)
 
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#14
I really haven't heard anyone from the IRS or any official make such a claim. It seems to be rumors.
 

jackjack

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#16
if this is SOP, then tax a guy who catches A Johnny Damon ball 75 cents
Technically, that guy owes the tax, but there's a point at which they don't give a shit. You can see that point in the state lottery systems. You owe tax on any winnings, but nobody pays it until the payoff is too high to be claimed without filling out the ticket and telling the lottery office who you are.
 

irishloon

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#17
i think i would have an issue with that , and would call them to task on it, i would pay taxes on the 5$ ball then if forced too pay the taxes on the sale, if i sold it, but i would go to jail before paying "estimated" worth of anything, fuck the government.
:clap::clap::clap::clap::clap:

Here, here. Fuck the government. Take them all the way to the Supreme Court on that one. The whole "inherent value" thing is a crock of shit. Does that now mean that if I have a bottle of ketchup, and there's a crazy fucking billionaire who for some reason feels that he's willing to pay $50 million for it, I'm now on the hook to the government for $14 million?!?!?!?!? Get the FUCK out of my face!!!!!!!!:mad4::mad4::icon_roll:icon_roll
 

Deadbent

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#18
:clap::clap::clap::clap::clap:

Here, here. Fuck the government. Take them all the way to the Supreme Court on that one. The whole "inherent value" thing is a crock of shit. Does that now mean that if I have a bottle of ketchup, and there's a crazy fucking billionaire who for some reason feels that he's willing to pay $50 million for it, I'm now on the hook to the government for $14 million?!?!?!?!? Get the FUCK out of my face!!!!!!!!:mad4::mad4::icon_roll:icon_roll

Precisely! Arrrrg





If I caught the ball, I'd have ground it into dust by now.
But this guy?
Why not compile a list of retailers that sell individual, official rawlings mlb baseballs.
Why not place a motion to find out how much exactly the Giants pay for bulk loads of said balls.
With an average price of a single ball, both for an mlb team, and average consumer in sportsmart, why not find out the local and state sales tax.
Why not then cut a check for whatever, 10-15%? of the actual retail price.


Thats the estimated value of a baseball, that's the tax to be paid on it.
 

THE FEZ MAN

as a matter of fact i dont have 5$
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#19
now if the guy used the ball as collateral on a loan i could almost see it, but just to have caught the ball, no. you get nothing, till its sold, or maybe insured, even then someone would have to be willing to pay a certain guaranteed price and i dont think any one other than loyd's would right that and it would be costly
 

cozzie

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#20
:clap::clap::clap::clap::clap:

Here, here. Fuck the government. Take them all the way to the Supreme Court on that one. The whole "inherent value" thing is a crock of shit. Does that now mean that if I have a bottle of ketchup, and there's a crazy fucking billionaire who for some reason feels that he's willing to pay $50 million for it, I'm now on the hook to the government for $14 million?!?!?!?!? Get the FUCK out of my face!!!!!!!!:mad4::mad4::icon_roll:icon_roll
i agree totally with what you have said. Just because someone wants to give you extra $$$ for something that costs damn near nothing, why should you have to be taxed on it's estimated value. Look at the guy that bought McQuires ball he lost a shit load on it's estimated value. The only value of a baseball , like I said is $5 pay the gov't their dollar and tell them to fuck off.
 
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