Barry Bonds Ball

I totally understand and support taxes, and really don't want to get in a my e-dick is bgger than yours, dem/rep debate.

But here is my real problem with this.

I have a 1968 Topps nolan ryan Rookie Card. (I think its 1968, it is the famous him and I think jerry koosman double card any card collectors can correct me if my year is wrong) That as luck would have it my Dad got from a pack of ball cards he bought the night hi and my mom went out on a date for the first time. Long story, he never bought baseball cards, just bought this pack on a whim (I suspect as a possible add on to a condom purchase, he he), they kept them as a first date souveneir supposedly. Years later when I was around 10 the marriage had long since desolved but my mom still had the pack of cards. I got into sports cards as a kid like many of us, and often had friend say that card is worth x or Y.

No the real answer is that card is worth #1 what someone is willing to pay for it and #2 what I am willing to accept for it. In my case the item is priceless because I would not sell it. Same with this baseball, how can someone place an arbitrary value on a sentimental item?

This is a dangerous precedent to allow someone to value something of yours you dont hold as a commodity. My grandpa has several oak tress on his property that are over 100 years old, to a tree hugger these are probably worth 1,000,000 dollars what if he received a tax statement in the mail for property valued at 1,000,000?

its the same legal precedent
 
What anyone has failed to mention is everytime he hits another one out, the price of 756 drops...the last one will be the money ball.
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i don't know... this one is the record breaker though. i don't see the value dropping off much if any. the last one will definitely be worth a good chunk also.

This is a dangerous precedent to allow someone to value something of yours you dont hold as a commodity. My grandpa has several oak tress on his property that are over 100 years old, to a tree hugger these are probably worth 1,000,000 dollars what if he received a tax statement in the mail for property valued at 1,000,000?
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exactly, well put. where does it stop? if they're allowed to get away with this, what's next?

I totally understand and support taxes
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yep, agreed. they've definitely go their place, but it's not here.
 
So if he is going to taxed then it has to have a value. Some how a value has to be set. In the house market they are taxed for the market value. But the market value is based on sales, and since this is a one of a kind there is no basis for the value. So if the value is set at 100,000 and he sells it for 1,000,000 they he pay taxes on 1,000,000 but if he keeps it he has to pay taxes on 100,000.

now what happen if he sells it for $100 he should not have to pay taxes on 100,000
 
COUNT ME IN FOR THE TEA PARTY!!! And damn the man. Taxes and idiots are going to run this country into the ground if we're not careful.
 
Sounds like mbalbritton is just jealous that he isn't holding one of Bonds' ball's in his hands. :gay:
 
The question of value should only be determined if something is sold......the ball, is worthless until it is sold, as far as the IRS should be concerned.

I lost a ball to cancer, do I get a refund?:flipoff2:
 
[FONT=Times New Roman, Times, serif]"It's an expensive catch," said John Barrie, a tax lawyer with Bryan Cave LLP in New York who grew up watching the Giants play at Candlestick Park. "Once he took possession of the ball and it was his ball, it was income to him based on its value as of yesterday,"[/FONT]
[FONT=Times New Roman, Times, serif]By most estimates, the ball that put Bonds atop the list of all-time home run hitters with 756 would sell in the half-million dollar range on the open market or at auction.[/FONT]
[FONT=Times New Roman, Times, serif]That would instantly put Murphy, a college student from Queens, in the highest tax bracket for individual income, where he would face a tax rate of about 35 per cent, or about US$210,000 on a $600,000 ball.[/FONT]




[FONT=Times New Roman, Times, serif]by the way...easy fix...[/FONT]
[FONT=Times New Roman, Times, serif] if he wants it to keep for a souvenier , "lose it". say he threw it out. when they come lookin for it give them a bucket of 100 balls tell them to show which one it is. then just keep it as a family piece[/FONT]


[FONT=Times New Roman, Times, serif]if he wants to keep it for the potential value, just sell it to a trust worthy friend for $10. that puts a price on the ball and if they really come and try to tax that, let them. then have your friend sell it back.
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chuckwhut said:
well next time i go to a baseball game and they are giving away big foam fingers at the gate i will demand to pay gift tax on them.
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Well, unless that foam finger is actually made of gold and worth more than $11, the gift tax wouldn't apply.

It only applies to gifts of large value...
http://www.irs.gov/businesses/small/article/0,,id=98968,00.html
Just like the estate tax dosn't apply when Grandpa keels over and leaves you $500, a crappy car and a trunk full of junk.
 
if i would have caught that ball i would have thrown it back over the fence. but yeah they cant tax him on the ball until he sells it, the only possible way i could see them taxing him before he sells it is if the tax the price of the ticket he had to purchase to get into the game, that is unless he was one of those idiots in a kayak.
 
lose teh ball in a bucket wont work, its hologrammed and serialized and MLB knows which number went over.

And apparently the guy has received his tax bill via mail...
 
Id burn the friggin thing send the ashes to bonds and tell him to eat $hit with his famous ball as a garnish and why wont they let steroids into baseball anyway I think it would be great to see 1000 yard outfields and swing oaktrees for bats and the steel shotput ball as a baseball! There overpayed babies who bitch about getting 30 mil instead of 40 mil! THEY ALL SUCK!!!! I say pay the winning team then you will see the true sportsman and game come out in them!!!
 
rokntoy said:
Id burn the friggin thing send the ashes to bonds and tell him to eat $hit with his famous ball as a garnish and why wont they let steroids into baseball anyway I think it would be great to see 1000 yard outfields and swing oaktrees for bats and the steel shotput ball as a baseball! There overpayed babies who bitch about getting 30 mil instead of 40 mil! THEY ALL SUCK!!!! I say pay the winning team then you will see the true sportsman and game come out in them!!!
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Feel better now? :rolleyes:
 
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