how do rappers afford chains Vol. taxes

[Bend_The_Knee]

nas qb piece is still one of my favs

This.

 

[freakydestroyer]

Can someone explain this

Some jeweler from Atlanta who is on this board made that. Its legit.

 

[triple homicide]

Anyone wonna go in depth about the barbershop & salon tactics that are being discussed?

 

[cj863]

T pain's big *** chain was made by icebox jewelry in ATL. If I remember correctly it was over a mill for the whole piece. Idiot move because most of that money is in labor and diamonds have terrible resale value. Now had he copped that much in straight gold

 

[dwalk31]

Let's be real... an ounce of pure gold is like pea sized... but thats not what's used in chains. It wouldn't be nearly sturdy enough. It's more like 14kt mayyyyyyybe 18kt. It's still expensive but it's mixed so the price is wayyyyyyyyy less than if they were paying for the pure gold your professor was showing.

 

[freakydestroyer]

Let's be real... an ounce of pure gold is like pea sized... but thats not what's used in chains. It wouldn't be nearly sturdy enough. It's more like 14kt mayyyyyyybe 18kt. It's still expensive but it's mixed so the price is wayyyyyyyyy less than if they were paying for the pure gold your professor was showing.

Alot of stuff these days is 10k or less.

 

[dwalk31]

^Exactly... I was trying to be generous as 14kt is quite popular

 

[shoelyesses]

It's obvious some of y'all have never filled out a tax form in your lives...niquefreak is dropping knowledge. With a cash transaction and no receipt, you are supposed to be an upstanding, honest, american citizen and report that income so it can be taxed. However if you don't, there is NO WAY for the govt to track that money and how much tax you owe on it. As nique said as long as you ain't taking out a mortgage...with that money (DUMB MOVE!) you are good.
Y'all never wondered how the hood Barbershop and hair Salon owners are rollin a different ride every week, or pushin' Benz's and BMW's? Same thing...cash transaction...not trackable...the smart ones report about 1/2 to 3/4 of what the actually make to the IRS to keep Uncle Sam off their back.

exactly them dope boys churches esp in the south... non profit 501c3's etc been doing this for yrs... dudes acting like folks going to put legal drug money on a 1040ez.... lol hell how u figure strippers,dope boys etc live in sect 8 get tanf food stamps wic etc.... they ait reporting all what they make on the books... hell as well nvm was bout to say something... but anyone who makes money cash legal drug money and reports it is an idiot...

thats y i lol at these so called dope boys turned rappers... who go broke... how u gonna go from making cash moves one way ro another and end up broke... the same principles/rules to the game is the same... etc one u did by trafficking dope.... just shows whose trill and who one that bs

 

[jay86]

Let's be real... an ounce of pure gold is like pea sized... but thats not what's used in chains. It wouldn't be nearly sturdy enough. It's more like 14kt mayyyyyyybe 18kt. It's still expensive but it's mixed so the price is wayyyyyyyyy less than if they were paying for the pure gold your professor was showing.

Copper is used to add the weight.

i know people that made chains where they took bed springs to the jeweler and ended up with 6 oz. gold chains

 

[ninjahood]

Let's be real... an ounce of pure gold is like pea sized... but thats not what's used in chains. It wouldn't be nearly sturdy enough. It's more like 14kt mayyyyyyybe 18kt. It's still expensive but it's mixed so the price is wayyyyyyyyy less than if they were paying for the pure gold your professor was showing.

14k is da US standard though.

 

[ricky409]

Anyone wonna go in depth about the barbershop & salon tactics that are being discussed?

not sure about beauty salons, but most barbers just report a regular income...

30 40.k... The rest is cash to keep.

much drugs are also exchanged at the barber shops, and since that's really theonly spot that black hood dudes seem to congregate without confrontation (probably cuz the lack of hood rat presence) they can trap there...

Dump some money of to the barber and bong....money income off the books.

 

[nycposite]

Forget the chain talk. For the dude that said the IRS can't tax us for selling shoes on nt your wrong

2 years ago I got a letter from IRS due to PayPal. They noticed the amount of money in my account and all the transaction. I had to pay almost 6k in taxes

 

[thorrocksjs]

Forget the chain talk. For the dude that said the IRS can't tax us for selling shoes on nt your wrong
2 years ago I got a letter from IRS due to PayPal. They noticed the amount of money in my account and all the transaction. I had to pay almost 6k in taxes

I swear the IRS are a bunch of thieves they go after the average joe schmoe but let Mitt and Donald do whatever they want. i seriously cant wait to leave this country.

 

[shannonscrooks]

I always found it interesting how rap fans are so immersed in the business of music themselves compared to other genres. 

Believe alot has to do with the contsant talk of riches so people are always looking for more specific truths.

 

[Ace Ready]

I always found it interesting how rap fans are so immersed in the business of music themselves compared to other genres. 

Believe alot has to do with the contsant talk of riches so people are always looking for more specific truths.

yup

 

[shoelyesses]

Forget the chain talk. For the dude that said the IRS can't tax us for selling shoes on nt your wrong
2 years ago I got a letter from IRS due to PayPal. They noticed the amount of money in my account and all the transaction. I had to pay almost 6k in taxes

keyword paypal.... now if u were just doing face to face o another form of exchange without including the middle MAN then...again the irs wouldnt know...

 

[xxpizzo]

a majority of the chains are FAKE

 

[cj863]

a majority of the chains are FAKE

how do you know that bro?

 

[xxpizzo]

a majority of the chains are FAKE

how do you know that bro?

i honestly dont kno ah just took a wild guess but i know you cant believe there all real ? some of them look horrible like you can buy them right up canal st in new york ah

 

[cj863]

Then why make a claim that the majority of the chains are fake? I agree there are rappers that cop bang bang jewels and there will always be, but the majority of mainstream artists I know I can easily tell you which reputable jeweler made their piece and how much it hit for.

 

[xxpizzo]

Then why make a claim that the majority of the chains are fake? I agree there are rappers that cop bang bang jewels and there will always be, but the majority of mainstream artists I know I can easily tell you which reputable jeweler made their piece and how much it hit for.

well gohead and why dont you list them for me please ? if you dont kno them in person than i dont even wanna hear it. They prolly rent them like most of them rent there cars besides a few that are in the top 10 forbes list.

 

[nycposite]

keyword paypal.... now if u were just doing face to face o another form of exchange without including the middle MAN then...again the irs wouldnt know...

I hear you but that's the only way. I doubt your going to do 50k plus worth of sneaker sales face to face.

You can duck the IRS for a while but once they start looking they always find something.

 

[cj863]

Then why make a claim that the majority of the chains are fake? I agree there are rappers that cop bang bang jewels and there will always be, but the majority of mainstream artists I know I can easily tell you which reputable jeweler made their piece and how much it hit for.

well gohead and why dont you list them for me please ? if you dont kno them in person than i dont even wanna hear it. They prolly rent them like most of them rent there cars besides a few that are in the top 10 forbes list.

There's a jewelry thread for that. Until then, next time come with some facts don't come with silly baseless claims.

 

[xxpizzo]

Then why make a claim that the majority of the chains are fake? I agree there are rappers that cop bang bang jewels and there will always be, but the majority of mainstream artists I know I can easily tell you which reputable jeweler made their piece and how much it hit for.

well gohead and why dont you list them for me please ? if you dont kno them in person than i dont even wanna hear it. They prolly rent them like most of them rent there cars besides a few that are in the top 10 forbes list.

There's a jewelry thread for that. Until then, next time come with some facts don't come with silly baseless claims.

well point me into the right direction than fam, seems like you aint got no facts yourself. i aint gonna sit here and argue with you to as if rappers chains are fake or not cause i can careless. BUT like i said and ima stick with it a majority of rappers chains are fake

 

[cj863]

Don't be mad at me because you made a baseless claim homes
I can pinpoint reputable jewelers that make jewelry for rappers, it's as simple as a google search

"The majority of these cats chains are fake'

"How do you know that?"

"I don't I know I just have a feeling"

You can easily navigate and find the jewelry thread and get some insight yourself fam