Pirate.

ATF Goes Around Congress: Publishes Universal Background Check Rule (breitbart.com)

That’ll get shut down. 

This one will be interesting to say the least. I wonder how the IRS will deal with all these "in the business" vs "hobbiests" identifying factors the ATF is trying to designate. 

AFAIK, the IRS determines these factors, not the ATF. They have a lot of rules etc that need to be met. Other than forcing these people to get an FFL they will hand them a whole bunch of tax exclusions, deductions and expenses? lol...

This will be a fun one to watch. 

More on this.

Biden’s ATF Continues Its War on Gun Dealers – PJ Media

Team Biden Continues Two-Pronged Assault on 2nd Amendment and Small Businesses – PJ Media

Then there is this beaut:

Proposed rule to report ammo to local FD

They probably saw the historical restrictions related to black powder and fire codes and thought they could apply it to ammo and magazines too.  Good grief.   
 

Good thing nothing I have is “explosive” as ammo using modern powder does not meet the legal definition of explosive, unlike black powder.  

So maybe this is a dumb question but all the talk about "for profit" has me wondering. If I buy a new firearm X for $600 and turn around sometime later (maybe the time gap is relevant, I don't know) and sell it for $500 I am NOT making a profit. It's a $100 loss. As such, no BC needed.

I wonder if I can write my loss of on my taxes

6 minutes ago, silverado427 said:

I wonder if I can write my loss of on my taxes

And does your gun value need to be depreciated?

6 hours ago, silverado427 said:

I wonder if I can write my loss of on my taxes

If the ATF thinks youre "in business" and simply not "in the hobby"... you can start writing off your "home office" and a percent of utilities.

On 9/1/2023 at 3:37 PM, voyager9 said:

Then there is this beaut:

Proposed rule to report ammo to local FD

They probably saw the historical restrictions related to black powder and fire codes and thought they could apply it to ammo and magazines too.  Good grief.   
 

Good thing nothing I have is “explosive” as ammo using modern powder does not meet the legal definition of explosive, unlike black powder.  

This is talking about actual explosives and the rule change is only that instead of only giving notice when storage commences, it must be resent on an annual basis while explosives are still stored there.

The place where explosives are stored is called a magazine. This is a different definition to a magazine used to feed ammunition into a firearm.