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michael59

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#1
Let me just first list the place where this all started : http://goldismoney2.com/threads/why...nsane-as-it-sounds.102933/page-2#post-1024275

In this thread is a vid with an equation of the real value of property. And, I bit hook, line and sinker. The equation shows a property listed at 200K decided by the "free market value" of gold listed at $1,000 as equal to two hundred minted eagles denominated at $50DOLLAR. Then the equation says that multiplying the coin by the coins denominated amount puts the true market value at $10,000. Yeah this is where I bit hard.

You see I figured I could take the 10K and make that the least market value of the property and thence devalue it for tax purposes. Then I read about Robert Kahre.

Well Robert was working off of a similar equation persay. Only Robert was paying gold coin and using the dollar amount to justify not withholding. He would then exchange an envelope of frn's and redeem the coin/s back into his possession. If an employee kept a coin then Robert withheld payment till free market value was reached. So, Robert was convicted of tax evasion and so was a lot of other people....darn, best laid plans of mice and men gone awry.

Now in the opinion page 42 evidentiary D, which can be found in a pdf document off of this Google page: https://www.google.com/search?q=Robert+Kahre&sourceid=silk&ie=UTF-8. The ninth court of appeals uses the words "compensation for wages." These or this compensation is tied to a dollar amount and the e-vile IRS taxes those wages even at free market value. But, but there is a "gold clause" somewhere to be found yet.

So, I'm not sure yet but a trade is a trade and the IRS should not ever be instrumental in local affairs such as collection of county property taxes on coin devalued by the US mint free market value or not. Yes it would seem that the IRS has say on collection of capital gains due to the market value of the melt of the coin if it is sold and turned into frn's but if kept till death and bequeathed then they have no say. At least that is how it is looking to me right now.

Any thoughts?
 

Usury

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#2
There are no games to be played with the IRS and expect to come out unscathed.

As far as holding til death and heirs inheriting "tax free", that's pretty much true of any/all property unless the estate exceeds the limits ($5Mil or so IIRC at this time).
 

Brio

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#3
Sounds to me like the IRS circumvents face value when it pleases them to. It's the govt.
 

Usury

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#4
The IRS rules are pretty full of examples of where they use "market value" in various instances--this is just one. Another example is inputed interest income. If I loan you $1,000,000 at 0% then they are going to say that I loaned it below fair market value and that I could have charged fair market value interest. Therefore, determine "fair market value" and then I'd have to pay tax on it, EVEN THOUGH I DIDN'T CHARGE/COLLECT ANYTHING!!! Just one example of many.....crazy all the myriad of twists and turns in the IRS code.