WTS: Thief's Knife IRL (3D Printed) + JCCD Update

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WTS: Thief's Knife IRL (3D Printed) + JCCD Update
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By Drayco 2023-02-14 10:14:28
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Hello FFXI fam, I know it's been a while. I wanted to give everybody an update as to what's happening with this project and my shop.

TL:DR - JC Custom Designs is now a licensed business and I will continue to work on recreating FFXI props as well as other things.

I haven't taken the previous year off, even though it looks that way. I've still spent a lot of time designing new props and I've even prototyped a few of them. You can expect some new releases this year. A few of the models I've been working on are Yagrush, Ragnarok, and Escutcheons. I had one person reach out and ask if Thief's Knife was available. I keep a running checklist of every time somebody requests something and to my shock nobody had ever asked for Thief's Knife until then. Seeing Thief's Knife was so similar to Mandau, I quickly adjusted the model and printed one out.

Thief's Knife will be just the first of the new releases for 2023. Thank you again everybody for your support!

Click here to see Thief's Knife in my Etsy store!


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 Asura.Eiryl
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By Asura.Eiryl 2023-02-14 10:26:15
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I wondered what had happened with no new posts.

Without trying to hijack the thread, yeah, taxes on stuff like this is horseshit. You sell a thing for $200 they say you made $200 profit as though it didn't cost $150 to make. Then you have to *** argue with them about how much you spent on your business expenses to make $50 and it's just asinine.
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 Shiva.Thorny
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By Shiva.Thorny 2023-02-14 10:42:14
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Drayco said: »
Some of you may know all the changes that are coming for the US regarding taxing of online sales. The previous limit of $20000 per year has now been adjusted to a ridiculous $600. All platforms that host online sales will be required to send out 1099 forms to anybody who has sold more than $600 online during that year. It's my understanding now that if you're 18 years old and sell more than $600 online, you have to pay taxes on those sales which can be up to 40%. I don't actually make much money on these, so having to give the IRS 40% would take all of my profit and likely put me in the hole.

The changes to the law did not alter which taxes were owed. You still owed taxes on any income you made prior to this year. The change is just requiring your payment processor to tell the government how much they paid you, so you can't cheat it.

Keep in mind this also means they may start grabbing past years as well, since most digital business is recorded forever. No escaping the tax man.
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By Drayco 2023-02-14 11:11:02
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Shiva.Thorny said: »
Drayco said: »
Some of you may know all the changes that are coming for the US regarding taxing of online sales. The previous limit of $20000 per year has now been adjusted to a ridiculous $600. All platforms that host online sales will be required to send out 1099 forms to anybody who has sold more than $600 online during that year. It's my understanding now that if you're 18 years old and sell more than $600 online, you have to pay taxes on those sales which can be up to 40%. I don't actually make much money on these, so having to give the IRS 40% would take all of my profit and likely put me in the hole.

The changes to the law did not alter which taxes were owed. You still owed taxes on any income you made prior to this year. The change is just requiring your payment processor to tell the government how much they paid you, so you can't cheat it.

Keep in mind this also means they may start grabbing past years as well, since most digital business is recorded forever. No escaping the tax man.
This was the entire reason for the 20k cap. Nobody was ever expected before this to pay the government 1099 taxes for selling their laptop on ebay.
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By Banhammer 2023-02-14 11:38:03
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In the interest in pouring gasoline on this thread, at least there are no mean Tweets from the POTUS. Sure, the government is now rabidly hunting down taxes from the pocket change you made from your side hustles and selling your crap on Ebay, but it's worth it to have available to send to Ukraine. You need to up your production, peasants. Uncle Sam needs your cash! We're broke over here and WWIII is on the table.
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By Drayco 2023-02-14 11:45:35
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Banhammer said: »
In the interest in pouring gasoline on this thread, at least there are no mean Tweets from the POTUS. Sure, the government is now rabidly hunting down taxes from the pocket change you made from your side hustles and selling your crap on Ebay, but it's worth it to have available to send to Ukraine. You need to up your production, peasants. Uncle Sam needs your cash! We're broke over here and WWIII is on the table.
This change has nothing to do with that. This was established well before Ukraine conflict started. The hilariously named American Rescue Plan was put into effect Mar 2021.
 Shiva.Thorny
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By Shiva.Thorny 2023-02-16 06:27:42
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Drayco said: »
This was the entire reason for the 20k cap. Nobody was ever expected before this to pay the government 1099 taxes for selling their laptop on ebay.
You were still legally required to pay taxes on sales under 20k. You can still be audited and back taxed(with interest) for sales under 20k from prior to the change. The law is not a change to the tax code, it is a change to the requirements for payment processors. I'm not saying most people would have paid tax on a single laptop sale. You don't actually owe tax on a laptop sale, because it is a depreciated asset(you did not make a profit on the laptop, and it was not business related, so you do not actually owe any tax on it). If it was a laptop used solely for a business, you could even use the drop in value from when you bought it until when you sold it as a tax deduction.

You're confusing 2 different values:
A 1099K is a form sent by a payment processor to you (and the government) that states how much money was paid to you via that payment processor. Companies were previously required to send a 1099K if you received at least $20k in value, and made at least 200 transactions. After the change, companies will be required to send a 1099K if you receive at least $600 in value, regardless of number of transactions.

Your tax liability is not the same as your 1099K. You do not need to declare items that are not business related and were sold at a loss on your taxes. The laptop would not need to be declared. You do need to declare items that were business related. If you sell a $20 item as your only business for a year, you still need to declare that sale on your taxes.

With that out of the way, let's go a little further. So, you need to declare all of your income from your business as income. That's not up for debate, it doesn't matter if you made 20k or not, or even if you made under $600. However, in most states, you do not need to create a LLC or file as a business unless you have employees. A sole proprietorship can use Form 1040 Schedule C to list their business expenses. You list your business expenses, and those are subtracted from your income before the income is used to calculate taxes.

You do not owe money on the sum of the value on the 1099K, the 1099K does not mean anything and you can straight throw it out if you're keeping your own records. The 1099K exists for two reasons:

1. To tell the government how much money you were sent, so that if your listed business income is significantly lower their digital systems will flag it and know you're cheating on your taxes. This can result in an audit, back taxes, fees, etc.. if you are declaring your business income as much less than the sum of what the government knows you received.

2. To make it easier for you(or a tax preparer) to track your business income. If you are not keeping comprehensive records like a responsible business owner, it's a safe bet to just use the values on your 1099Ks as your business income because it will line up with what the government knows you received.
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 Asura.Eiryl
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By Asura.Eiryl 2023-02-16 06:36:02
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If you make under like 12k you don't "have to" file at all.

If you made 12k from work and sold stuff as a side hustle then yeah.

Which makes the change to $600 very odd

I doubt there are many who's sole income is online sales and make less than 12k, but it must be higher than 0. I wonder how that will play out.
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 Shiva.Thorny
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By Shiva.Thorny 2023-02-16 06:46:03
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Edited that post to provide a bunch more info, but filing is based on your total income. If you make $14k from your real job, and $100 from your side hustle, you are legally required to file taxes because your total income is above the cutoff ($12,950 for 2022).

The $100 from your side hustle still legally needs to be declared on your taxes in this case, because you had to file. In practice, most people wouldn't list it and wouldn't be audited over such a small amount, but they still legally owe it.

If the sum of your side hustle and any real income is under $12,950, then yes, you can skip filing entirely. The government will most likely not care that you ignore the 1099K in that scenario.
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By Drayco 2023-02-16 06:59:49
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Thank you Thorny, all that info is very helpful.
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By Tarage 2023-02-16 10:25:30
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I take it no Nirvana for the foreseeable future...
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By Drayco 2023-02-16 14:44:11
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Tarage said: »
I take it no Nirvana for the foreseeable future...
Foreseeable future, yes. Immediate future, no.
I've started it, but that's about as far as I've gotten on that one.
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By Bongarippa 2023-02-16 19:58:21
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You should make one of these smaller and out of metal so it can double as a bottle opener. That was always what I thought this style of dagger looked like.
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