Page 2 of 2 FirstFirst 1 2
Results 11 to 20 of 25

Hybrid View

  1. #1

    Default Re: Employee Discount Abuse 15,000$-20,000$, Can I Prosecuted for Buying and Selling

    Quote Quoting cbg
    View Post
    You do realize that the laws in Canada and the laws in the US are not the same, right? That it doesn't make a damned bit of difference how things work in the US if that's not where you are?
    I do agree

  2. #2

    Default Re: Employee Discount Abuse 15,000$-20,000$, Can I Prosecuted for Buying and Selling

    Quote Quoting PayrolGuy
    View Post
    You are wrong for A) taking advantage of your employer's discount policy and B) tax evasion if you don't pay taxes on the income.
    Hi, could you please clarify im not sure what you mean with me being wrong? That they CAN sue or pursue criminal charges? And ok for tax evasion but is this considered an income?

    Thanks!

  3. #3
    Join Date
    Oct 2016
    Posts
    4,301

    Default Re: Employee Discount Abuse 15,000$-20,000$, Can I Prosecuted for Buying and Selling

    They can report anything they want to the police as a crime. As you have already been told it is unlikely that you will be prosecuted. But just because something is not illegal doesn't make it the right thing to do.

    And of course profit you make from flipping the things buy from your employer is taxable income.

  4. #4
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Employee Discount Abuse 15,000$-20,000$, Can I Prosecuted for Buying and Selling

    Quote Quoting TheOriginalOne
    View Post
    And ok for tax evasion but is this considered an income?

    Thanks!
    The difference between what you sell the item for and the price you paid for it is indeed taxable income in the U.S. So if you buy a TV for $500 on your discount and sell it for $700 you have $200 in taxable income that you must report on your income tax return. Moreover, as you have been doing this as a regular activity, it may be considered business activity and thus subject to self-employment tax (Social Security and Medicare taxes) too. Failure to report the income can lead to very expensive civil penalties and/or criminal prosecution for tax evasion, which is a federal felony offense. Given the kind of money you seem to be making off this you really need to be keeping very good records of the purchases and sales and you need to ensure your income is properly reported on federal and state income tax returns.

    1. Sponsored Links
       

Page 2 of 2 FirstFirst 1 2

Similar Threads

  1. Sex Offenses: Can an Adult Face Criminal Charges for Dating a Minor
    By TheQuestioning in forum Criminal Charges
    Replies: 1
    Last Post: 07-18-2017, 07:52 AM
  2. Sex Offenses: Can You File Criminal Charges for Childhood Sex Abuse
    By Judihacker in forum Criminal Charges
    Replies: 5
    Last Post: 04-11-2017, 01:34 AM
  3. Trials: Accused Confronting the Accuser Face-To-Face in a Criminal Trial
    By sanaz in forum Criminal Procedure
    Replies: 1
    Last Post: 02-28-2012, 05:19 AM
  4. Retail Fraud / Shoplifting: Discount Abuse at Victoria's Secret
    By untitled in forum Criminal Charges
    Replies: 19
    Last Post: 04-19-2011, 06:24 PM
  5. Retail Fraud / Shoplifting: Improper Use of Employee Discount
    By circe1120 in forum Criminal Charges
    Replies: 11
    Last Post: 12-03-2010, 07:16 PM
 
 
Sponsored Links

Legal Help, Information and Resources