Question about purchasing

[General Zod]

Yes I create my own bill of sale and have one copy for the other buyer and one for me and I store it.

Go do a quick forum search for "bill of sale" and then set aside a couple of hours to read up. A bill of sale is unnecessary, and will kill just about any sale on this forum.

 

[cbp210]

Go do a quick forum search for "bill of sale" and then set aside a couple of hours to read up. A bill of sale is unnecessary, and will kill just about any sale on this forum.

Why sometimes I want a receipt from a private seller for tax purpose since most guns I buy I can justify as a business expense.

 

[General Zod]

Why sometimes I want a receipt from a private seller for tax purpose since most guns I buy I can justify as a business expense.

"Business expense"? If you're a dealer, then nothing in this thread applies to you. If your business is unlicensed sales, then that's a whole other can of worms.

Again...if you intend to sell any here, you'll find a BOS is going to be a deal killer.

 

[cbp210]

"Business expense"? If you're a dealer, then nothing in this thread applies to you. If your business is unlicensed sales, then that's a whole other can of worms.

Again...if you intend to sell any here, you'll find a BOS is going to be a deal killer.

Nope part of my side business and training. So yes it does apply and IRS accepts it.

 

[General Zod]

Frankly, the more you say the sketchier this sounds. I'm not sure how you can be a private seller as part of a business, side or otherwise.

 

[Chewbacca7685]

So you’re dealing in firearms without a license.

I would think if his side business involves firearm training, purchasing tools for that business I.e firearms would be an acceptable write off honestly.


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[cbp210]

I would think if his side business involves firearm training, purchasing tools for that business I.e firearms would be an acceptable write off honestly.


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Thank you and yes that is how I file for those purpose. Thanks for clearing the other guy assumption and guilt.

 

[cbp210]

Frankly, the more you say the sketchier this sounds. I'm not sure how you can be a private seller as part of a business, side or otherwise.

My business does not involve selling guns. I am a coach for a youth shooting sports team and I am also an instructor Level 1 NSCA. So yes guns I buy for the purpose of training can be used as business expense and I sometimes buy used guns from prior club members and keep the BOS as proof of business transaction to satisfy IRS and CPA filing. Great job in assuming I am a shady dealer.

 

[toddnjoyce]

I would think if his side business involves firearm training, purchasing tools for that business I.e firearms would be an acceptable write off honestly.


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IRS doesn’t enforce firearms laws, that’s ATF jurisdiction.

See the part about factors identified by Federal Courts.

Relevant factors: whether you represent yourself as a dealer in firearms; whether you are repetitively buying and selling firearms; the circumstances under which you are selling firearms; and whether you are looking to make a profit.

https://www.atf.gov/file/100871/download

 

[Chewbacca7685]

IRS doesn’t enforce firearms laws, that’s ATF jurisdiction.

See the part about factors identified by Federal Courts.

Relevant factors: whether you represent yourself as a dealer in firearms; whether you are repetitively buying and selling firearms; the circumstances under which you are selling firearms; and whether you are looking to make a profit.

https://www.atf.gov/file/100871/download

I get that but he’s talking about purchasing for his business in this instance. Not selling. You don’t need an ffl to purchase a firearm for business use. And since it’s a business expense it can be written off. Sounds like it satisfies both the IRS and ATF to me


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[General Zod]

Great job in assuming I am a shady dealer.

Great job in leaving out pertinent details to make yourself seem pretty damn shady for a couple of replies.

It's still true, though, that very few if any members here would buy or sell with someone who insists on a BOS.

 

[toddnjoyce]

… So yes guns I buy for the purpose of training…

I don’t care about your taxes. ATF states occasional sale of a personal collection is exempt from an FFL.

If these firearms are for business use, then are they part of your personal collection?

 

[cbp210]

Great job in leaving out pertinent details to make yourself seem pretty damn shady for a couple of replies.

It's still true, though, that very few if any members here would buy or sell with someone who insists on a BOS.

I never once mentioned anything about selling guns. Never had any issues with ATF or any law enforcement agencies and I doubt ATF would come after a guy buying training guns used in training and competitions. I never had problems with BOS or been denied a sale because of it so maybe you ran into the wrong crowd but I deal with athletes and clubs most of the time.

 

[cbp210]

I don’t care about your taxes. ATF states occasional sale of a personal collection is exempt from an FFL.

If these firearms are for business use, then are they part of your personal collection?

I do and nothing will change. I am not a dealer and I do not make a living selling guns. In fact I buy more than sell and I sell it is usually to update a better shotgun. Your opinion is subjective.

 

[General Zod]

I never once mentioned anything about selling guns. Never had any issues with ATF or any law enforcement agencies and I doubt ATF would come after a guy buying training guns used in training and competitions. I never had problems with BOS or been denied a sale because of it so maybe you ran into the wrong crowd but I deal with athletes and clubs most of the time.

Yes, you did. You mentioned not often selling your guns, and advertising to coworkers when you do. Then you went on and on about bills of sale, while also mentioning gun trading as part of your business. While it appears that I conflated your sales with your business activity buying, you did create an impression that personal sales were somehow tied to your business activities.

As for the "crowd" I "ran into"...it's the crowd on this forum. Again, search up "bill of sale" in thread titles and do a bit of reading. You'll see that it's not a popular idea.

 

[cbp210]

Yes, you did. You mentioned not often selling your guns, and advertising to coworkers when you do. Then you went on and on about bills of sale, while also mentioning gun trading as part of your business. While it appears that I conflated your sales with your business activity buying, you did create an impression that personal sales were somehow tied to your business activities.

As for the "crowd" I "ran into"...it's the crowd on this forum. Again, search up "bill of sale" in thread titles and do a bit of reading. You'll see that it's not a popular idea.

If you buy and sell with no BOS here that is your business. I never once posted anything for sale here so I am not familiar with the BOS animosity.Yes I do not sell often but when I do it is to coworkers and friends first then to clubs of the range I shoot at. Never had any issues.

 

[General Zod]

If you buy and sell with no BOS here that is your business. I never once posted anything for sale here so I am not familiar with the BOS animosity.

It's a general animosity toward sellers (or buyers) having requirements that aren't required by law. Such as taking photos of ID, or requiring a bill of sale. If you want to require one that's your business. But it is not a legal requirement and, should you get a wild hair and decide to sell here, you won't find many who'll go through with it if you do require one, whatever your reasons for it.

 

[Mowingmaniac 24/7]

OP: Might I suggest you obtain the book - "How To Win Friends And Influence People" by the esteemed author Dale Carnegie.

 

[cbp210]

It's a general animosity toward sellers (or buyers) having requirements that aren't required by law. Such as taking photos of ID, or requiring a bill of sale. If you want to require one that's your business. But it is not a legal requirement and, should you get a wild hair and decide to sell here, you won't find many who'll go through with it if you do require one, whatever your reasons for it.

Never had any reason to sell here so I am not familiar with the buying culture here. I am surprised you let simple steps like this bother you.

 

[General Zod]

Never had any reason to sell here so I am not familiar with the buying culture here. I am surprised you let simple steps like this bother you.

Simple steps like seller or buyer requirements that have no pertinence to the law? Can't imagine why that would be frowned upon...