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IRS Tax Question: When is a self directed IRA subject to
IRS Tax Question:When is a self directed IRA subject to UBTI and force the preparation of the 990-T? Please provide good IRS and other articles and other references.Thanks!… read more
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If I take a distribution from my gold coin IRA and they give
If I take a distribution from my gold coin IRA and they give me a fair market value on my 1099 that is 60% of the actual spot gold price, how am I not committing tax fraud? … read more
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I was gifted gold as an infant. I recently sold this gold
Hi! I was gifted gold as an infant. I recently sold this gold (about 30,000$). What do I need to do for taxes? … read more
Barbara
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I am an S-Corporation retail clothing store. Can I donate
I am an S-Corporation retail clothing store. Can I donate inventory for a tax write-off? I want to make sure that I do it the right way. I was looking it up online and it said something about S-Corps … read more
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I have six questions that I've outlined 1-6 related to doing
I have six questions that I've outlined 1-6 related to doing my own tax returns.1) 1099s for the sale of physical gold if exact same price?Somewhere I read that there is a threshold for the sale of go… read more
taxmanrog
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On Schedule C, can I report a loss for cost of goods sold if
On Schedule C, can I report a loss for cost of goods sold if no sales? … read more
Lev
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I want to lock in a loss on some physical gold I own, but I
I want to lock in a loss on some physical gold I own, but I want to keep my position. I currently own American Eagle one ounce coins. Can I sell the eagles and buy a similar quantity of, say, Canadian… read more
Lane
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I live in California, closing my business after 4 years, used
I live in California, closing my business after 4 years, used person money to fund it (credit cards), I will have to pay back the debt appx. 40k. Is is possible to write off this debt? This debt inclu… read more
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I was a partner in a retail store and the other partner decided
I was a partner in a retail store and the other partner decided he was going to leave the business and he left me with everything. I decided to stay open and moved the store to another location. Now t… read more
R. Klein, EA
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On 02/28/2008, sixteen St. Gaudens coins were purchased for
On 02/28/2008, sixteen St. Gaudens coins were purchased for $49,969. On 01/12/2011, those same coins were sold for $32,039 (a loss of $17,930). In the next few days, I want to close out and get delive… read more
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I sold some gold coins a couple months back, can you tell me
I sold some gold coins a couple months back, can you tell me what forms, if any I need to file with my taxes?… read more
Arthur Rubin
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If I convert some of my assets into GOLD -- coins or bullion
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If the taxpayer is an S corporation and donates product from
If the taxpayer is an S corporation and donates product from their inventory, at what value is the contribution determined, (e.g." lessor or FMV or basis, or value normaly sold in market)?… read more
Merlo
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i own a smaal zarconia jewerly store in uptown ny. because
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What are the tax implications of GoldMoney.com Basically,
What are the tax implications of GoldMoney.com? Basically, the site allows you to purchase gold which they store in vaults in London and Zurich. (You never see it.) You can sell the gold back to them … read more
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What are the journal entries involved to show the company ...
What are the journal entries involved to show the company vertically if the wholesale sells to its retail entity. How do I eliminate profit sales and reflect my true inventory value on a consolidated … read more
RD
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A small retail store, a C corp with 1 shareholder, sold all ...
A small retail store, a C corp with 1 shareholder, sold all assets and inventory and was paid cash of $75,000 in 2006. Purchaser was also paying $50,000 per year to the 1 shareholder over 3 years for … read more
RD
RD
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I had 40 gold maple leaf coins that were held by a ...
I had 40 gold maple leaf coins that were held by a brokerage firm. I purchase the coins for 325.00 a coin. I sold 20 gold coins last year for 750.00 per coin. How would I pay taxes on the gain in pric… read more
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