Health Care Law = Secret Gold Coin Tax

So if you buy a notebook for $700 at Staples you will have to give your ss# to them to get a 1099? How will the IRS know you are deducting it as an expense? Maybe they will have to add more forms to sched c.
 
Quote from abducens:

So if you buy a notebook for $700 at Staples you will have to give your ss# to them to get a 1099? How will the IRS know you are deducting it as an expense? Maybe they will have to add more forms to sched c.
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tell you what....you are on the hook of the long arm of the law regardless...the irs can have you anyway they wanted...at any day and time..there is simple form that everyone must fill,if they purchase anything out of state(read-via internet) and pay sales taxes on that shit..did you pay taxes on the shit you got from amazon? they got ya :p
 
Every 3 years PA sends out a form so you can self audit for out of state purchases along with some threats if you dont file, I usually purchase very little but always send them a check to keep them out of my hair. Its feels a little like extortion.
 
Quote from abducens:

Every 3 years PA sends out a form so you can self audit for out of state purchases along with some threats if you dont file, I usually purchase very little but always send them a check to keep them out of my hair. Its feels a little like extortion.
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i'm in PA, i know what you are talking about..taxes on the purchases for business outside of the state..it does feel like an extortion

George Carlin quote comes to mind...
They got you by the balls.
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http://www.youtube.com/watch?v=hYIC0eZYEtI
 
The Democratic Party is in all-out power grab mode. They are trying to centralize as much power as they can. There isn't anything that they don't want to control, except maybe foreign dictators.
 
Quote from clacy:

The Democratic Party is in all-out power grab mode. They are trying to centralize as much power as they can. There isn't anything that they don't want to control, except maybe foreign dictators.
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It's the domestic ones that worry me..
 
Quote from abducens:

So if you buy a notebook for $700 at Staples you will have to give your ss# to them to get a 1099? How will the IRS know you are deducting it as an expense? Maybe they will have to add more forms to sched c.
More...

I believe it's the other way around. You will have to obtain their tax id number and give Staples a 1099.
 
This is very much long term bearish on the price of gold. Those who are gold bugs are already in gold. Late buyers will be wary of the new tax and demands on gold will fall. There is nothing exceptional about this tax. Many countries and states already imposed a real estate transaction tax on real estate transactions and this tax is similar to that. The more you flip, the more you are going to have to pay the transaction taxes.

The smart money is beginning to leave the gold market. The stupid money will be the ones trying to get into gold before the transaction tax takes effect.

Here is a similar view on the subject:
...at the start of 2012 Americans will be required to submit to the IRS 1099's for all purchases in excess of $600, including both goods and services. This means that there will be (or should be) a Form 1099 produced and submitted to the federal government every time a single ounce of gold trades hands after January 1, 2012 (assuming gold stays over $600/oz).

Gold is undoubtedly a good investment solution for some investors and special situations. However, given the metal's limited functionality or practicality in modern society, its current price seems to be likely inflated. A good deal of investors would be wise to ignore the hype surrounding gold, and spend some time researching the dynamics of such its specialized market to better understand the risks involved.

Dock David Treece is a discretionary money manager with Treece Investment Advisory Corp
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