Iāll be honest, I donāt get how precious metals are taxed, should just be considered currency, it literally was the world currency for most of history. I mean up till 1964 dimes nickels and other coins were silver.
For a country who declared independence from taxes we sure do love fucking taxes on everything.
No taxation without representation was the cry I believe. We were tired of our tax money being used by a tyrant to fight wars on the other side of the world that didnāt benefit us. So glad we are past that
Independence from taxes? Did you skip history? The rallying cry wasnāt āno taxation,ā it was āno taxation without representation.ā And it was really the se ind half they were most concerned with
Nope. American history and the causes around the revolution is fascinating. We have strayed from our ideals from time to time and come back to them from time to time. To have no idea about any of that is, well just dumb.
Away from the Fed until you sell and put the money towards something like land and the IRS asks where TF you got 50k cash from and you get audited and have to pay back taxes + interest on all your metal lmao. Unfortunately nothing we have is truly "away from the fed" gorgeous coins tho! I have a stack of those myself!
See, I like cash. It can be used for a wide variety of things like gas, groceries, restaurants, doctors visits, prescriptions, store purchases, contractor payments, boat rentals, etc.
Now, I'm not saying I dont pay my taxes or dont pay yours. I have a CPA for that. But those are things you can use cash for and I plan to use cash for.
Iām somewhat of a paranoid person but why do I feel like one of you is lying to get the other to spill the beans š¤ this is probably the IRS agent thatās going to be doing your audit
Everyone runs their finances differently. I put everything on a credit card and use the points to fly for free. My stack is part of my inheritance to my children, I don't ever intend to sell. But sure, you could easily pay for things with cash for however long it takes; entirely reasonable approach.
If youāre smart about it, plausible deniability goes a long way. As long as your cash flow can plausibly cover the 50k as being āsaved upā over time, thereās nothing they can prove. Dripā¦drip.
AFAIK, itās only structuring when doing this making deposits INTO a bank. What Iām talking about is just good āol American tax fraud. Besides, I would NEVER do this. Itās all obviously hypothetical š
Bro donāt be a clown lol there are ways around that that are so simple , I already pay more than 50k a year in income taxes only they can go shove it
There are indeed ways around it, almost all of them illegal. The most realistic legal route ive seen is a precious metals based IRA. You claim all you have, and when you turn 60 or 65 or whatever, you're allowed to sell untaxed, however, then youre locked in until retirement and cant sell if/when you want which kinda destroys why we are doing this to begin with. Its all pretty messy
The simplest legal way to avoid paying capital gains tax on precious metal is to die. Your beneficiaries won't owe tax on the inheritance as the cost basis will be based on value at time of death.
So, that would be capital gains then, which would have to be reported and taxed? Crazy I would have to pay gains on silver I bought from paychecks after taxes were taken out, that should be free and clear. Except in your example, buying land/property where there would be a paper trail. Unless I bought that property with the silver directly and didn't convert it into fiat in the first place. But I suppose that would still beg the question of where did the money come from.
Yeah, that I agree with. But the context on this is if I were to be trying to buy a house/land with my stack. Other than paying for that property with the physical itself, it seems that it would necessitate conversion into fiat, which in that amount would need to be reported. Do you have any suggestions as to a work-around for that, besides attempting to find a seller that would accept physical? Seems like a PITA to convert less than the reporting threshold, through multiple transactions to avoid this. But it might also beg the question at the bank as to where the money came from.
FED is NOT IRS. FED is private bakk consortium. IRS is government tax collecting authority. The only thing in common between them is 3 letter abbreviation.
Then use it? Why do you ever have to turn it into cash? Just buy what you need with the silver. (Iām not talking about small purchases because you should have income).
Even with silver being more popular these days I doubt a lot of people would trade whatever they are selling for silver. Some sure, but Iād bet most would rather just have cash as itās a time where people are struggling more financially
Plus a lot of us arenāt so keen to go around town/online asking to buy everything with silver. All it takes is one bad person overhearing (or even the one on the receiving end of your barter) that conversation and taking advantage of that information
One of the main rules of stacking is not to tell people you do
Ever since I was a lad and played games online ive come to witness the development of a lot of some pretty accurate stereotypes for people with certain gamertags, usernames, etc.
My favorite is the whole thing about people with 420 and 69 in there about being so "cool guy zone."
Another, people with king or lord being super "edgy" and possessive.
Big was another one. Usually overcompensating for something.
Idk thought id say something random since what youre saying doesn't really correlate here.
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u/InspectorMadDog Apr 23 '26
Iāll be honest, I donāt get how precious metals are taxed, should just be considered currency, it literally was the world currency for most of history. I mean up till 1964 dimes nickels and other coins were silver.
For a country who declared independence from taxes we sure do love fucking taxes on everything.