Message:

<p>[QUOTE=&quot;phankins11, post: 2130049, member: 70703&quot;][USER=72697]@OldGoldGuy[/USER] - my questoin is why...how does criticizing the OP or any other person help this conversation? I don&#039;t think its anyone&#039;s place here to do that. If the OP is making these kinds of grammer errors or typos at work, let his boss criticize him. This isn&#039;t his job, you are is not his boss, nor is anyone else here. The old kindergarten proverb rings true...I&#039;m just sayin&#039;, If you don&#039;t have anything nice to say then think about not say&#039;n it.</p><p><br /></p><p>While I agree that the P.T. Barnum comment from statequarterguy was light hearted and funny, Chris&#039;s point was that it did nothing positive for the conversation and in fact put the conversation on a negative foot for the OP.</p><p><br /></p><p>I for one am not going to criticize Chris for attempting to put this or any conversation back on the positive side, from my experience&nbsp; that&#039;s an achievement unto its self for Chris <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p><br /></p><p>[USER=57923]@mintcollection[/USER] -</p><p><br /></p><p>&nbsp;Uhmm...not sure if that&#039;s a typo or what...if you are asking if there is a central body who divvies out coin dealer titles, then there is no such thing, if you are talking about the Coin Dealer news letter then Chris pointed you in the right direction.</p><p><br /></p><p>as far as I know, the requirements to be a dealer are to buy and sell coins.</p><p><br /></p><p>Most likely yes, but it will be a general business license, unless there are bullion requirements in your area.</p><p><br /></p><p>Join the club...most here actually do this. I do to support my coin habit...eh hemm...I mean hobby.</p><p><br /></p><p>No</p><p><br /></p><p>If you are referring to the banner that you see under some folks cointalk avatar that says &quot;Dealer&quot; you need to upgrade your account to &quot;Dealer&quot; by hovering over your name in the top right of the screen, wait for the menu to drop down, select &quot;Account Upgrades&quot; and select one of the Coin Dealer options from that page.</p><p><br /></p><p>Here&#039;s my version of what&#039;s needed for a business license, I live in Indian so your version may be different. Also know what I am not a business consultant nor a lawyer so do not hold me responsible for any of this until you do your own research.</p><p><br /></p><p>I own (or have registered and am a managing member of) two LLCs. Most likely if you need a business license then an LLC is what you want to do. LLC Stands for Limited Liability Corporation. In Indiana you create an LLC online, fill out the online forms, pay some money (around $90), and bingo you now have an LLC with which you can do business under. You have to file an entity report every two years which just states the LLC still exists and creates another revenue stream for the state as each entity report costs around $30.</p><p><br /></p><p>There are many kinds of entities though that you can create, the best person to talk to about whats best for you is an accountant...because 90% of the reason you create a corporation is for tax purposes.</p><p><br /></p><p>My LLCs are not for coin dealing however, they are for my real estate investments and business.</p><p><br /></p><p>But before you go creating an LLC and spending money you don&#039;t need to, put the breaks on and answer this. Why? What is your goal?</p><p><br /></p><p>If you are going to rent a suite in a strip mall and run a coin shop out of there....yes you need an LLC.</p><p><br /></p><p>If you are making so much money buying and selling coins on line that PayPal or some other entity is telling you they are going to report you to the IRS because you made over the threshold of what they don&#039;t have to report on, then yes, you need an LLC.</p><p><br /></p><p>If your expenditures from buying and selling coins are so high that it makes sense to take them as deductions on your tax returns then Yes you need an LLC.</p><p><br /></p><p>If the wealth you&#039;ve accumulated buying and selling coins needs a tax shelter, or some sort of preservation mechanism, then Yes you need an LLC.</p><p><br /></p><p>If you have employees and pay salaries to them, or if you have the need for a tax ID number so you don&#039;t pay sales tax when buying supplies for your business, then Yes, you need an LLC.</p><p><br /></p><p>If all you are doing is buying and selling coins on line, then you are a coin dealer amid TONS and TONS of other here and no application or license is needed.</p><p><br /></p><p>Again, find your own information out. It&#039;s entirely likely that there are discrepancies in my answers.</p><p><br /></p><p>Answer the questions Why, and What is the goal.</p><p><br /></p><p>Hope this helps.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in