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<p>[QUOTE=&quot;medoraman, post: 1369801, member: 26302&quot;]I agree with Conder. Its an idiot idea by a man who simply is ignorant of tax law. The reporter did make mention of it in the article, but to me didn&#039;t press the issue. Bottom line, you can do it but must report the fair market value of the silver, so therefor not one penny is saved from the tax man. If the IRS gets one red cent less from this arrangement, its tax evasion already ruled frivolous and the IRS will come in with enforcement personnel. </p><p><br /></p><p>Interesting the quote from the State tax official. I am betting either he is misquoted or was not given the full details of the idea.</p><p><br /></p><p>Bottom line, if a person gets $1000 a week, whether in bills or $1000 worth of silver, he owes taxes on $1000 of income. Face value denominations on the coins are meaningless. If this were not the case, everyone in the US would want to be paid in 1916d mercury dimes, right?[/QUOTE]</p><p><br /></p>

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