tax

discussion
rl
By rl on Thu, Sep 29, 2016 - 8:53pm

US Taxes on Gold Capital Gains?

Hello all,

In the USA, what are the tax rules for capital gains on gold?

Consider the scenario,
buy gold today
hold it for a few years
the gold appreciates in value
sell the gold for more dollars than before

In Canada, our accountant tells us that when
the gold is sold, tax must be paid on the capital gains.
Only half of the capital gains is taxable.
So, given a capital gain of $1000, only $500 is taxed.

If gold was used in trade, say 1 gold coin for a suit

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discussion
WH
By WH on Wed, Apr 3, 2013 - 9:04pm

FBAR and taxes

I'm looking for what other PM holders are doing regarding FBAR reporting and legally hiding potential capital gains taxes on their metals. I have a goldmoney account. My CPA told me that I need to fill out an FBAR (Report of Foreign Bank and Financial Accounts) this year. I don't owe taxes because I haven't sold anything. The US government just wants to know I have an account now that it's reached a certain size. Does anyone in this group have experiences with this? Also does anyone use an IRA to avoid captial gains taxes on their PM?

discussion
Irksome
By Irksome on Fri, Feb 1, 2013 - 8:22pm

Carbon Tax - what would that look like?

A number of blogs and podcasts I follow frequently refer to the Carbon Tax, many of them speaking with great conviction that they expect the US to implement this very soon.  None of them go into any details on how they think this will unfold.  I've found reference to an actual tax on industries and commodities that contribute to carbon emissions (power generation, auto fuel, etc.), and also something called Cap and Trade, where the amount you can produce is capped, but unused 'credits' can be traded to others that need to go beyond their cap.