Gold Investing & A Side Question

[firehawkocean]

Hi everyone,

I was reading this article regarding Gold and taxes (appreciation taxes when inflation is super high) and was wondering if y'all had any thoughts on whether the guys opinion is correct?

http://danielamerman.com/articles/GoldTaxes1.htm

Also, should I use my out of state CPA (in California, even though I live in TX now) to file my returns this year. I may end up moving back to CA in a year or two anyway (depends on the wifey).

Thanks

[disneysteve]

should I use my out of state CPA (in California, even though I live in TX now) to file my returns this year.

As long as your CPA is well acquainted with Texas state tax laws that would be fine. Otherwise I'd stick with someone local.

[MonkeyMama]

I think since Texas has no income tax, and is in general a lower cost area, you will probably find tax prep there much cheaper. (California taxes are complex, and so that adds to the cost of tax prep by California tax preparers).

That said, because of the California complexities, I'd probably stick with the California tax preparer. Unless you are certain that you have no California tax liability. (Don't you have a CA rental though? Would be taxed in California).

[firehawkocean]

Thanks for thoughts. And yes I do have a CA rental.

[disneysteve]

Thanks for thoughts. And yes I do have a CA rental.

Oh, if you do business in CA then it makes sense to use the CA person, especially if you'll be moving back there soon.

[97guns]

the good thing about physical gold is there is no counterparty risk, you dont need a broker to close out the position. transactions under 10K are not reportable at the local coin shop, many coin shops are cash and carry with no receipt and care less about taxes