Thank God, it’s Over

Posted By: Peter DavidPosted On:

I am happy to report that I paid off the IRS. Every dime that was owed to them. For the first time in this century, I don’t have to worry that the mailman is going to bring a certified letter saying the government is seizing all my property. For the first time in my marriage to Kathleen, we don’t have to worry about finances.

The lion’s share of credit naturally goes to you guys. To the hundreds of people who came through and got us to within range of the goal.

Further credit must go to Erik Larsen, who asked me if I had any artwork from some of the comic book greats. I did have a couple of pages that I had acquired twenty years ago for a couple of thousand dollars (back when money wasn’t a problem.). I had no idea that the prices for such things had skyrocketed in the intervening decades. I sold the pages I had and that income enabled me to cover the remaining gap.

I have some money left over, but that’s gone straight into the bank to hold onto for next year since I have NO desire to let this happen again. I initially got into trouble because money I had set aside disappeared: the equivalent of heading to the bank to deposit a briefcase full of cash and getting knocked out from behind. With my finances now fully in my control, I can assure everyone this won’t happen again.

In order to make sure it doesn’t, I will be starting a patreon account to ensure continued income even during slow writing periods, so be sure to keep your eyes out for it.

And thank you all again for your support. The letters of support I have received have been deeply moving. I cannot begin to express my gratitude.

PAD

31 comments on “Thank God, it’s Over”

  3. “I initially got into trouble because money I had set aside disappeared: the equivalent of heading to the bank to deposit a briefcase full of cash and getting knocked out from behind. ”

    Sounded a bit more like Mr. Potter squirrelling the bank funds into the newspaper while Uncle Charlie had his eyes elsewhere, but, either way, glad to read that everything is settled.

  7. I’m curious Peter, how did you manage to sell the comic artwork so quickly?

    1. A dealer I’ve known for many years, but never done business with. He sold it.

      PAD

  9. I am so glad to hear that you guys made it through this. I can only imagine how tough and how stressful it was for you all and I am really glad you guys pulled through.

    Your story about the original art prices going way up reminds me of how I financed my family’s move away from Las Vegas to our current home in St. George. I sold a chuck of my comics collection to do it. I had forgotten I even had one key issue that helped us get where we needed to be….a not too shabby copy of AVENGERS #4.

    I hated to do it, I hated parting with these issues I’d accumulated over the years, but necessity is a mother. I sympathize with how much you must have disliked parting with that original art. But I’m really glad you guys are on a more solid financial footing now.

  11. I am glad enough of us were able to help out to get you through this.

  13. Yay! Very glad that this is off your plate. Wishing continued good things your way.

  14. I am very glad to hear that you are free from the wolves ,I lost everything a few years ago and I know what being under the hammer feels like. Hopefully you can now focus on some more McKenzie Calhoun work which will make us all feel better !!! Plus the Star Trek universe needs all the help it can get st the moment .

  15. I am very happy to hear that you’ve managed to get out from under that rock. I am now going to be a downer and remind you that the sale of the artwork is likely taxable, with the difference between what you paid for it and what you sold it for being a Long Term Capital Gain. The less bad news is that such gains are taxed at a lower rate than ordinary income.

    As always don’t take tax advice (solely) from a random commenter on your site, but make sure that your tax preparer knows the details of the purchases (date and amounts) and the sales (date and amount)

    1. Oh, I know that’s taxable. I already have money set aside to cover it.

      PAD

      1. I was 99% sure that you knew and were ready, but I’ve been in meetings with clients where I had to tell them how much taking an early IRA distribution cover taxes this year will add to their next year’s taxes. It’s not a pleasant feeling to even watch that reaction. I wouldn’t wish that realization at the moment you’re determining your tax liability next year on anyone short of my worst enemy. Better to know it now when you’ve got almost a year to prepare. I’m glad I was correct that you’d be on top of it.

  20. I know the tiny bit of help I sent, didn’t even come close to a hill of beans, but knowing that you and your family are in a better place, makes it all worth it.
    We may be weirdo fiction geeks and comic book collectors, but if more people looked out for others, the way we do…..the world would be a better place.

  23. So, are Peter David and Erik Larsen friends now? Given all the shots they’ve taken at each other over the years, it is truly heartening to see two people who didn’t get along at all decide to get along in a time of adversity.

  26. Thank god. And big shout out to for Erik Larsen. I know you’ve had disagreements with him(I agreed with you, Doctor Octopus should NOT beat the Hulk!) but he’s a good guy. We argue so passionately about because we love comics and the characters that live in them.

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