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Couple That Found $10 Million in Gold Coins Will Have to Hand Over HOW MUCH in Taxes?
The Blaze ^
| 2/28/2014
| Becket Adams
Posted on 03/01/2014 5:56:10 AM PST by rktman
A California couple that discovered $10 million worth of gold coins last year will have to pay nearly half that amount in federal and state income tax, regardless of whether they sell the coins.
(Excerpt) Read more at theblaze.com ...
TOPICS: Education; Local News; Outdoors; Society
KEYWORDS: afterthegoldrush; california; coin; coins; doh; gold; goldcoins; irs; taxes
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To: Tupelo
I get that - but it seems extremely risky to just assume that nothing out of the ordinary could ever happen.
The police always pull you over on the one day your license isn't in your wallet, but in the pocket of the jacket you left at home.
To: Georgia Girl 2
Most gold caches that are found are never heard about.You realize how many logical holes this assertion has in it, right?
To: Tupelo
We have been stopped and searched by the Mexicans going down and by the US coming back and once by the Mexican Army in the interior. Going down we got out by saying we were going to visit an important local person (we weren’t but we knew him). The other 2 times they found nothing (we had nothing illegal) so we were not detained.
43
posted on
03/01/2014 7:51:32 AM PST
by
Ditter
To: rktman
Use the money that the Feds and State demand in taxes to buy good lawyers and accountants instead, then sue the crap out of the Feds instead.
That’s what I’d do, fight, FIGHT!!
44
posted on
03/01/2014 8:36:41 AM PST
by
JSDude1
(Defeat Hagan, elect a Constutional Conservative: Dr. Greg Brannon!)
To: rktman
Imagine the pressure on them to “give back to the community”!
45
posted on
03/01/2014 8:40:31 AM PST
by
equaviator
(There's nothing like the universe to bring you down to earth.)
To: rktman
I don’t understand how that is income. It is capital gain gleaned from their property.
46
posted on
03/01/2014 10:21:34 AM PST
by
Defiant
(Let the Tea Party win, and we will declare peace on the American people and go home.)
To: rktman
I figure if you find 10 million, the tax bill will be 10 million, plus whatever it costs in time and services to fill out the reports.
47
posted on
03/01/2014 10:23:11 AM PST
by
Cboldt
To: Defiant
Per jojo biden. One word. I.R.S. They make the rules, you follow them. Or else. Kinda like bullying to me.
48
posted on
03/01/2014 10:23:57 AM PST
by
rktman
(Under my plan(scheme),unemployment will necessarily skyrocket! Despite the % dropping. Period.)
To: Cboldt
Better toss in some attorney fees too. In the end, you wind up in debt for finding the stuff.
49
posted on
03/01/2014 10:24:44 AM PST
by
rktman
(Under my plan(scheme),unemployment will necessarily skyrocket! Despite the % dropping. Period.)
To: wideawake
What concerns me is the easy assumption that it is just fine for the government to steal half of what I've worked hard to earn, but that it is a shocking injustice for the government to steal half a windfall I did nothing to earn. The fact that the government treats both equally, should concern us all.
50
posted on
03/01/2014 10:26:40 AM PST
by
Lou L
(Health "insurance" is NOT the same as health "care")
To: rktman
Claim the weight value of the gold and pay taxes on that.
They should have laundered the coins through the Cayman’s
51
posted on
03/01/2014 11:42:58 AM PST
by
hattend
(Firearms and ammunition...the only growing industries under the Obama regime.)
To: wideawake
Depends on how much info you have. :-)
52
posted on
03/01/2014 12:03:18 PM PST
by
Georgia Girl 2
(The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
To: muir_redwoods
Yep, I would go see Rick in Las Vegas about every 6 months. Cash money per coin per 6 months. No questions asked. Oh, did I say my name was John Smith? hehe
53
posted on
03/01/2014 1:03:34 PM PST
by
biff
(WAS)
To: rktman
The government should only be allowed to tax them on the face value of the coins.
54
posted on
03/01/2014 3:34:11 PM PST
by
zeugma
(Is it evil of me to teach my bird to say "here kitty, kitty"?)
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