Message:

<p>[QUOTE=&quot;Conder101, post: 1653644, member: 66&quot;]A good way to start is to start taking a table at the smaller coin shows and start working the circuit.&nbsp; You can work at buying and selling, build your inventory, develop contacts among other dealers all without the huge overhead outlay of a retail store.&nbsp; And you can also keep your regular job for income so the profits from the coins can keep being reinvested into growing the business.&nbsp; As your coin business grows you can either do more shows or start taking tables at some of the larger shows.&nbsp; If you don&#039;t take tables at the larger shows you can still work the floor as a dealer and the contacts you developed earlier will help you to be accepted as a dealer at these shows.&nbsp; Eventually if you do well your weekend coin show job will be producing enough profits that you can start drawing on them for income and swap over into the shows being your actual &quot;job&quot;.&nbsp; This will mean a lot of traveling and working shows almost every weekend.&nbsp; At this point you now make the decision whether to open a retail shop, or just continue to do the show circuit.&nbsp; If you open the shop you will probably still do the show circuit to a fair extent as well.</p><p><br /></p><p>As far as the taxes, if you are in a state that does not charge sales tax on coin you won&#039;t have to worry about that.&nbsp; Profits made on the coins i for a business is not treated as capital gains but instead is reported as profit and losses on Schedule C just as with any other business.&nbsp; If it was just your personal &quot;hobby&quot; then it would be capital gains.&nbsp; So keep good records just as any other business should.&nbsp; because that is one of the things the IRS uses to determine if it is a business or a hobby.[/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