About ten years ago I had over $12,000.00 worth of toy tractors stolen. I'm reasonably sure I had to pay income tax on the insurance check, but I'm not positive. That was all I had them insured for, and had actualy thought that I had dropped the insurance. My loss was far greater than the insurance amount, so I wonder if I could count that as a loss?
I have seen numerous toy show folks keep track of all sales, don't know if they are honest about it or not. I think they are supposed to pay sales tax though. Unless they have a hidden camera, or a sting operation, it would be pretty hard to enforce.
Alot of flea markets in our area require proof of liability insurance before they can set up. I don't know what the min. is however.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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