iPad 2 Stock: still need to go at 9AM?

[rworne]

Is that after you have paid all of your self-employment taxes and business fees?

I'm not so concerned with those, especially if it's just scalping the latest Apple product or buying out all the hot toys during Christmas - but it *IS* unreported income.

I'm sure the honorable thing will be done and it will be reported to the IRS.

 

[imacuser1]

That's all you've made since launch? Waiting in line for hours in the morning, fooling with multiple ebay accounts, trips to the post office, etc. Seems like you would want to make more than that for the investment. Guess everyone's time is more valuable than others.

To be perfectly honest, it wasn't hard at all. I showed up early and loaded up my iPhone with games to keep me occupied. It didn't seem that long waiting in line. Actually, I wish it was longer because I was in a middle of a game that couldn't be paused.

And yes, I do have a day job that pays well, I do this for extra money. I have a ton of vacation time with the company that I've been with for many years. I came on full time shortly my internship with them 10 years ago (Almost 8 weeks of paid vacation).

Plus, me being a white guy, I was able to stand in line multiple days in a row without being turned away from the Apple Store manager. Unfortunately for the Asians, many of them were being turned away by the store manager.

 

[andiwm2003]

To be perfectly honest, it wasn't hard at all. I showed up early and loaded up my iPhone with games to keep me occupied. It didn't seem that long waiting in line. Actually, I wish it was longer because I was in a middle of a game that couldn't be paused.

And yes, I do have a day job that pays well, I do this for extra money. I have a ton of vacation time with the company that I've been with for many years. I came on full time shortly my internship with them 10 years ago (Almost 8 weeks of paid vacation).

Plus, me being a white guy, I was able to stand in line multiple days in a row without being turned away from the Apple Store manager. Unfortunately for the Asians, many of them were being turned away by the store manager.

i hope you get a nice trip out of this during the rest of your vacation time. seriously, there is nothing wrong with making money off luxury items. it's not that you scalped medication or price gouged baby milk.

 

[Bartman01]

I'm not so concerned with those, especially if it's just scalping the latest Apple product or buying out all the hot toys during Christmas - but it *IS* unreported income.

I'm sure the honorable thing will be done and it will be reported to the IRS.

It's more than just unreported income - the income tax rates for self employment are MUCH higher since you have to pay both the EE and ER portions of Social Security and Medicare. Plus if any sales were done in-state then the proper business registration needs to be completed and sales tax collected. On my mind as I am in the middle of finishing all of the self employment IRS mess for my own family.

These 'scalpers' as some call them talk of how they are 'just playing within the rules of the system' while most are skipping out on taxes the rest of us pay. That 10k in income would be more like 5K after it is all said and done 'by the book'.