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Thread: Gold Coin Sellers Angered by New Tax Law

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    Gold Coin Sellers Angered by New Tax Law

    Gold Coin Sellers Angered by New Tax Law


    Gold Coin Dealers Decry New Tax Law - ABC News



    Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.

    This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it. The tax code tweak is expected to raise $17 billion over the next 10 years, according to the Joint Committee on Taxation.



    Death by a thousand cuts. Is taxing small businesses like this really what we need right now?
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Gold Coin Sellers Angered by New Tax Law

    Yes, along with taxing every single American more and reducing spending. Our decades of deficits are catching up to us.

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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by Reverend_Hellh0und View Post
    Death by a thousand cuts. Is taxing small businesses like this really what we need right now?
    I can't bring myself to hold much sympathy for people who sell a nearly useless shiny metal for a price far higher than it really deserves.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by Deuce View Post
    I can't bring myself to hold much sympathy for people who sell a nearly useless shiny metal for a price far higher than it really deserves.



    I'll tell that to the buddy on my hockey team who eaks out a middle class living that you think so.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by Reverend_Hellh0und View Post
    I'll tell that to the buddy on my hockey team who eaks out a middle class living that you think so.
    Glenn Beck is on your hockey team?

    Sorry, I couldn't resist.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by independent_thinker2002 View Post
    Glenn Beck is on your hockey team?

    Sorry, I couldn't resist.


    no he couldn't make the cut.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Gold Coin Sellers Angered by New Tax Law

    To play hockey you have to SEE the puck.
    A screaming comes across the sky.
    It has happened before, but there is nothing to compare it to now.
    Pynchon - Gravity's Rainbow

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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by Reverend_Hellh0und View Post
    no he couldn't make the cut.
    He couldn't see the puck!

    Sorry had to do it

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    Sage


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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by Reverend_Hellh0und View Post
    Death by a thousand cuts. Is taxing small businesses like this really what we need right now?
    This isn't taxing small businesses. A 1099 simply reports payments made. This is a loophole closed that is long overdue. Every taxpaying American should be delighted that others who've skirted by under the radar will now be cross-checked. The only thing better than this "good start" legislation would be an automatic withholding on those 1099's of 10%.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Gold Coin Sellers Angered by New Tax Law

    Quote Originally Posted by Reverend_Hellh0und View Post
    no he couldn't make the cut.
    He couldn't beat out Rush Limbaugh. That fatass makes the perfect goalie. All he has to do is sit in front of the goal, and nothing gets past.
    The ghost of Jack Kevorkian for President's Physician: 2016

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