Forum - View topicDoes Robert's Anime Corner Store ever have sales like RightStuf?
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Alan45
 Village Elder Posts: 9972 Location: Virginia |
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Years ago, they didn't treat a book publisher's backstock as inventory. I remember reading that IRS was changing the rules to make books just like anything else. People were freaking as there are good reasons for not getting rid of back stock. Some books are slow burn and technical stuff doesn't sell rapidly. I didn't hear the ending of it but they apparently did change the rules as a lot of remainder book stores popped up in the years following.
Oh another thing on computer inventory. It is only as good as the information it was fed. If you get a pallet load of widgets and someone puts a bar code for whatnots on it, you have lost the widgets until someone actually looks at the pallet. |
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Blood-
Bargain Hunter Posts: 24092 |
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All I've been able to determine so far from my Google searches is that retail businesses in Canada need to calculate the value of their inventory at the end of their business year for (among other reasons) taxation purposes. Unsold inventory is considered a business asset and therefore factors into your business income tax return. What I haven't yet figured out is what this means in practical terms.
For example, I assume if the value of your inventory is lower as opposed to higher, this benefits you for taxation purposes? Our book-keeper is here today and I usually take the subway home with her after work. Maybe she knows something about this. |
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victor viper
 Posts: 630 Location: The deep south |
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Actually, it's a very instructive (if depressing) exercise to look at goods you've bought and ask how many times taxes have gotten collected on that item. The manufacturer sells it to the wholesaler and gets taxed, the wholesaler sells it to the retailer and gets taxed, the retailer sells it to a customer and gets taxed, the customer pays sales tax, and if there's inventory left over at any of these levels there's taxes there too. Every year at tax time, I'll hear someone say "I don't pay any taxes, I get a refund" and it just makes me want to pull my hair out. I think most people have no clue how much they pay in taxes on every single thing they buy. |
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Blood-
Bargain Hunter Posts: 24092 |
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Actually, what I meant was I thought there was some sort of legal principle against the SAME person being taxed for the SAME thing twice.
I chatted with our book-keeper and I still don't have a great grip on this so if there is anyone out there who is familiar with business stuff, feel free to jump in. From what I gather, retail businesses need to report the value of their inventory for tax purposes because they cannot claim the cost of unsold items as a business expense. You can only claim the cost of an item as an expense once it has been sold. Obviously, this has an impact on your business income tax return. In an ideal world, your business would have zero inventory at the end of your business year and you would be able to claim the entire cost of that year's inventory as a business expense, which obviously lowers the amount you have to pay in tax. Since that never happens and virtually all retail businesses always have inventory at their year's end, you have to report the value of that inventory on your income tax return. From what I understand, you aren't actually taxed on that value, it simply means you can't claim that amount as an expense. That's different from what Alan45 seems to be talking about. If I'm understanding him correctly, the US federal government goes, "okay Business A, you have $10,000 in unsold inventory? We are taxing you at x% of that value." Which just seems bonkers to me. |
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victor viper
Posts: 630 Location: The deep south |
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Definitely not, take property taxes for example. Being forced to pay some percentage of your house's value year after year, that's even more insidious that taxing business inventory. |
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Blood-
Bargain Hunter Posts: 24092 |
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That's a good example of the same item being taxed more than once on the same person, but I don't find that more insidious than taxing business inventory. Municipalities need money to pay for the municipal services that are delivered to households. I can see the justification for a property tax. I can see zero justification for taxing a business on its inventory that hasn't yet sold.
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Alan45
Village Elder Posts: 9972 Location: Virginia |
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@Blood-
Government doesn't need a justification to impose a tax, just a need for money. Usually the people voting for a specific tax do so on the basis that "this won't effect me". To be fair, most people love what the government does for them, they just don't want to pay for it. Part of the problem is that there is a disconnect between the taxes people pay and the benefits they receive. It has always been this way. Even George the Wash had to put down a rebellion in western Pennsylvania over tax on whiskey. The corn people grew west of the mountains was too bulky to transport to market so they turned it to liquid. They got real upset that the tax on whiskey was higher than on corn. |
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Polycell
 Posts: 4623 |
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That's what happens when you spend other people's money. Why, exactly, do people who don't pay a given tax have any say in what amount it is?
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Spastic Minnow
Bargain Hunter Exempt from Grammar Rules  Posts: 4629 Location: Gainesville, FL |
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I thought that Amazon was in Funimation's doghouse for over-discounting until recently and that's why they suddenly have no decent sales. animenewsnetwork.com/bbs/phpBB2/viewtopic.php?p=4220904#4220904 |
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potatochobit
 Posts: 1373 Location: TEXAS |
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that could be a reason
but if you look at pre-orders specifically, they seem to charge full price for even other publisher titles like sentai Anyway, the Op started the thread because he thought 20$ was a large price difference and I was only pointing out that a variation of 20$ in prices is well within the industry standard. although in his case it was 20$ over the MSRP which is still not a big deal compared to the anime figure industry. |
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eyeresist
 Posts: 995 Location: a 320x240 resolution igloo (Sydney) |
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I think Amazon changes prices according to demand. I've noticed that, when I buy slow-selling items, the price of those items rises immediately. |
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