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<p>[QUOTE="lucyray, post: 999682, member: 24565"]I did not intend any of my own 'rant' for advice; sorry if it appeared that way. This is all info that I am dealing with personally. The numbers may not be right (as you say): Unified tax credit was max of 192,800 in 1992 (not 600k). Really, what my point was is this: it all sounds so easy -- buy coins/metals (whatever) at a nice price, and sell them when you feel you've reached your expectations. In (my ) reality, it just isn't that simple. Darned taxes.. It's not fiscally 'smart' to not count ALL the costs.. I believe this is a hobby here, for most, and I enjoy reading for that reason. For me, it is very serious. "If I knew then what I know now..." </p><p><br /></p><p>And one more thing; I actually lost a whole nights sleep this past week because I read an article on Gold, about the fact that bullion is treated as 'numismatic' with regard to taxes (hence 28%) and I have been under a different "illusion" for a long time(long term capital gains..). Now, since your post, I feel a bit better, but will sleep better when my cpa tells me true! They believe I should <u>consider</u> selling this year due to the changes in the taxes forthcoming..[/QUOTE]</p><p><br /></p>
[QUOTE="lucyray, post: 999682, member: 24565"]I did not intend any of my own 'rant' for advice; sorry if it appeared that way. This is all info that I am dealing with personally. The numbers may not be right (as you say): Unified tax credit was max of 192,800 in 1992 (not 600k). Really, what my point was is this: it all sounds so easy -- buy coins/metals (whatever) at a nice price, and sell them when you feel you've reached your expectations. In (my ) reality, it just isn't that simple. Darned taxes.. It's not fiscally 'smart' to not count ALL the costs.. I believe this is a hobby here, for most, and I enjoy reading for that reason. For me, it is very serious. "If I knew then what I know now..." And one more thing; I actually lost a whole nights sleep this past week because I read an article on Gold, about the fact that bullion is treated as 'numismatic' with regard to taxes (hence 28%) and I have been under a different "illusion" for a long time(long term capital gains..). Now, since your post, I feel a bit better, but will sleep better when my cpa tells me true! They believe I should [U]consider[/U] selling this year due to the changes in the taxes forthcoming..[/QUOTE]
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