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Old 04-15-2016
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Default just curious, what happens if you are audited and your money comes from vereo'd goods

Does the IRS care about what you sell or do they just care about dollars and figures being accurate.

thanks
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Old 04-15-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

What do you mean by VERO? Selling VERO is fine, it is not the same as selling knock offs.
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Old 04-15-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

The IRS doesn't care what you sell, but other government agencies will put you in prison for selling phakes, lol.

The IRS only cares about your numbers being accurate.
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Old 04-15-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

If you sell those items, dont tell them what you sell or if the items are truly phake. They only care about $$$$ and that you pay.
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Old 04-18-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

Yes, only answer direct questions, don't offer any information other than what you would be asked. If you have invoices for purchasing the items, that should be all they care about. They don't care what you are selling.
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Old 04-18-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

Yep IRS just wants to be paid, their not the agency you have to worry about if your selling phakes
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Old 04-19-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

Dont tell them they are phakes, they might pass that info to the agency that takes care of that.
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Old 04-19-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

lol. id be more concerned if i got audited from drug running or money laundering. selling vero? its so lol im bout speechless.
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Old 04-19-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

As long as not f*ke, then that's not likely to be issued. If you're selling f*kes...well then there are many rough stories these days...
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Old 04-21-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

just make sure the numbers match up and u won't have any issues with irs...
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Old 04-23-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

@OP, if still unsure, hire a financial accountant for logistics
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Old 04-23-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

Question to think ab out: How would the IRS know you sell grey area stuff?

I am assuming your invoices don't say **** goods on them.
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Old 04-23-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

Quote:
Originally Posted by yankee View Post
Question to think ab out: How would the IRS know you sell grey area stuff?

I am assuming your invoices don't say **** goods on them.

OP's invoices say "hair catcher"
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Old 04-23-2016
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Default Re: just curious, what happens if you are audited and your money comes from vereo'd g

Quote:
Originally Posted by phaz0rz View Post
OP's invoices say "hair catcher"
Or make sure they dont say "Beats" or "Beach Body"
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