Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Which is the better buy - American Eagles or Maple leaves
>
Reply to Thread
Message:
<p>[QUOTE="doug444, post: 1954499, member: 38849"]My guess would be that the IRA regulations comprise 5,000 pages of bafflegab. Good luck figuring everything out. I still think it is prudent for the OP to check the tax ramifications down the line.</p><p><br /></p><p>Incidentally, the IRS (in an audit) can spot an unreported cash sale in a flash; here's how. Let's say you sell $4,000 worth of gold (3 AGEs) for cash, at a coin show. All of a sudden, your savings account shows no periodic deposits and withdrawals, maybe for (say) 6 weeks. Your credit card shows little or no usage, compared to usual, or worse yet, you pay off a sizeable balance. You purchase several large money orders for big expenditures. </p><p><br /></p><p>The key is to maintain a steady stream of routine financial transactions, as usual, instead of struggling to "get rid" of all that cash. Save the cash for items like car repair, or new tires, or winter clothing, or wedding gifts, or flea market bargains, etc., etc., one time items that leave no paper trail. This assumes a NSA drone is not tracking you. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie9" alt=":eek:" unselectable="on" unselectable="on" /></p><p><br /></p><p>All the bank and postal records are available to the IRS, and they are all "flags" for a sudden influx of cash. You can't win. My PM's will be sold by my heirs, not by me, so no problem.[/QUOTE]</p><p><br /></p>
[QUOTE="doug444, post: 1954499, member: 38849"]My guess would be that the IRA regulations comprise 5,000 pages of bafflegab. Good luck figuring everything out. I still think it is prudent for the OP to check the tax ramifications down the line. Incidentally, the IRS (in an audit) can spot an unreported cash sale in a flash; here's how. Let's say you sell $4,000 worth of gold (3 AGEs) for cash, at a coin show. All of a sudden, your savings account shows no periodic deposits and withdrawals, maybe for (say) 6 weeks. Your credit card shows little or no usage, compared to usual, or worse yet, you pay off a sizeable balance. You purchase several large money orders for big expenditures. The key is to maintain a steady stream of routine financial transactions, as usual, instead of struggling to "get rid" of all that cash. Save the cash for items like car repair, or new tires, or winter clothing, or wedding gifts, or flea market bargains, etc., etc., one time items that leave no paper trail. This assumes a NSA drone is not tracking you. :eek: All the bank and postal records are available to the IRS, and they are all "flags" for a sudden influx of cash. You can't win. My PM's will be sold by my heirs, not by me, so no problem.[/QUOTE]
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
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Which is the better buy - American Eagles or Maple leaves
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...