Business Law

Ask a business lLawyer. Get business law questions answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

I have an opportunity to put a seller and a buyer together…

Customer Question
Hello, I have an...

Hello, I have an opportunity to put a seller and a buyer together to purchase gold bars....I would get a commission from the sale. The bars come from South Africa. I guess you could say I would be the agent or broker....do I need a special license for that or can I just report my proceeds to the IRS to comply with reporting requirements?

Lawyer's Assistant: OK. The Lawyer will need to help you with this. Have you consulted a lawyer yet?

No not yet

Lawyer's Assistant: Please tell me everything you can about this issue so the Lawyer can help you best. Is there anything else the Lawyer should be aware of?

Only that it is a high volume sale and the gold bars will be en route soon. My plan is to have the buyer wire funds to the sellers overseas account and then I would get my commission wired into my account.

Submitted: 2 years ago.Category: Business Law
Show More
Show Less
Ask Your Own Business Law Question
Answered in 2 hours by:
3/8/2016
Business Lawyer: Irwin Law, Attorney replied 2 years ago
Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 7,559
Experience: 30+ yrs. representing small business, real estate, probate
Verified

The only regulations regarding importation of gold bullionHave to do with reporting the amount to the IRS . Here is a discussion of the regulations. These of course apply to the US fire/importer, but not to you as a broker or agent.

https://help.cbp.gov/app/answers/detail/a_id/322/~/importing-gold-coins,-medals,-and-bullion

I hope that this is helpful information and that you will assign a positive rating For this answer.

Ask Your Own Business Law Question
Was this answer helpful?
Ask Irwin Law Your Own Question
Irwin Law
Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 7,559
7,559 Satisfied Customers
Experience: 30+ yrs. representing small business, real estate, probate

Irwin Law is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

1,851 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

751 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

646 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

577 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
The web designer I used to design my website a year an a
The web designer I used to design my website a year an a half ago grabbed free wallpaper photos off two different sites. This week I received via email two different cease and desist letters, one from… read more
Ely
Ely
Attorney
Juris Doctor
577 satisfied customers
Can anyone explain to me CCP 2030.290 and why this section
Can anyone explain to me CCP 2030.290 and why this section doesn't apply to a motion to compel further responses?… read more
CalAttorney2
CalAttorney2
Attorney
Doctoral Degree
8,845 satisfied customers
19.Transaction costs include _____. (Points : 4) fees
19.Transaction costs include _____. (Points : 4) fees charged by brokers transportation and communication costs legal, accounting, and regulatory costs all of the above 20. Legal prohibitions against … read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
I own a bar that's been here since the 1950s, and they want
I own a bar that's been here since the 1950s , and they want me to get a condional use permit now. We haven't changed names or owners. Can they do this ? … read more
Damien Bosco
Damien Bosco
Attorney
Doctoral Degree
4,483 satisfied customers
A friend of mine is looking for investors for his new bar.
Hi. A friend of mine is looking for investors for his new bar. He's successful in other bars so maybe not as risky as usual. Anyway, if I introduce him to investors what might be a typical finder's fe… read more
Attorney Wendy
Attorney Wendy
Member
Juris Doctorate
724 satisfied customers
Topic Area CA inheritance law & CA State Bar ethics Widowed
Topic Area CA inheritance law & CA State Bar ethicsWidowed father dies leaves the estate to be divided equally between three siblings. Eldest sibling named as trustee. Will has standard Clause that if… read more
Barrister
Barrister
Attorney
Doctoral Degree
646 satisfied customers
What liscences are needed to open a juice bar in nyc other
Hi. What liscences are needed to open a juice bar in nyc other than a health dept permit … read more
lawyerJ
lawyerJ
Juris Doctorate
164 satisfied customers
I graduated from Law school I took the bar exam in Florida,
I graduated from Law school I took the bar exam in Florida, but I have not yet pass the bar exam. Florida has completed the character and fitness investigation, and already issued me the notice of com… read more
Ray
Ray
Lawyer
Doctoral Degree
32,562 satisfied customers
I have a bar in New Rochelle and I'm interested in getting a
I have a bar in New Rochelle and I'm interested in getting a hookah license … read more
Damien Bosco
Damien Bosco
Attorney
Doctoral Degree
4,483 satisfied customers
I am a 20% owner in an s-corp (a small restaurant/bar in
Hi I am a 20% owner in an s-corp (a small restaurant/bar in NYC) and plan to resign as shareholder, officer. What paper work do I need to file? I also need to submit paperwork to remove my name from t… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,210 satisfied customers
I am an accountant for a c corp, it is a restaurant/bar with
I am an accountant for a c corp, it is a restaurant/bar with an illinois liquor license. He want to open another bar and not use the full name of the corp. Can he do a D/B/A under the corp. Does he th… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,851 satisfied customers
I sold my business (bar) to a person I have a contract. He
I sold my business (bar) to a person I have a contract. He took over the first of DE em … read more
LegalGems
LegalGems
Juris Doctorate
11,915 satisfied customers
A Florida Condo Board President "C" files a Bar complaint
A Florida Condo Board President "C" files a Bar complaint for good and sufficient reason against a lawyer "J" and another lawyer "K". J heads a law firm with 2 other associates. The complaint was agai… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,564 satisfied customers
I had a legal case versus my bar. I never was notified snd
Hi. I had a legal case versus my bar. I never was notified snd just got letter I lost and owe 300 g … read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,756 satisfied customers
I am a business owner of a small bar that also serves food.
I am a business owner of a small bar that also serves food. A "regular" customer had asked to run a small tab ($60) until their next paycheck. Thinking this would be no issue, I agreed that they could… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
Merry Christmas. I have 30 kgs of gold bar dores shipped to
Merry Christmas. I have 30 kgs of gold bar dores shipped to me by my girlfriend through an Agent (Robertson Consults) - It was labeled as a "GIFT". I paid for the shipping & agent charges. Currently, … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Given Delawares smoking ban law, is it even legal to open
Given Delaware's smoking ban law, is it even legal to open a Hookah bar in this state?… read more
Legal Professional
Legal Professional
Doctoral Degree
1,168 satisfied customers
Plaintiffs lied under oath in a court hearing in testimony
Plaintiffs lied under oath in a court hearing in testimony and won the hearing. There were paper-based evidences to show those lies.If Plaintiffs' attorney knew or was involved in making those lies, w… read more
Michael Gonzalez
Michael Gonzalez
JD
579 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x