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Message:: [QUOTE="Detecto92, post: 1861238, member: 75105"]Then how else do you afford it? If I'm the CEO of say...Walmart, and I buy a new house, that money had to come from the business, as it would be the only source of income. I'm going to open a business bank account. I'm not trying to skirt paying tax, but rather, write-offs. As I said, if your in the business of buying and selling coins (like one of the mods are)..and buy a coin, and put in your safe, along with the coins you have for sale, then who is to say you didn't buy that to sell it? That's why it's very tricky... I don't think the IRS is going to send some man to my business to watch everything I do and make sure it's kosher. Legally speaking, my state has a "use tax", and your supposed to pay taxes if you buy something off a buddy, or at a yardsale. Your also supposed to collect tax on both sales and income if your at a flea market, yet out of the dozens of flea markets I've been to...I've never seen nor heard of anyone collecting sales tax at one. The IRS does not see what you do, only what you report, and this is why many coin dealers are cash only at shows...all that money goes under the table and isn't seen on any piece of paper being mailed to the IRS. Why do you think so many dealers go to shows? Is a big event to earn income that they probably won't report.[/QUOTE]