Does anyone do this as a business?

[Phillip_in_NM]

My lovely bride has suggested numerous times that if I'm going to continue in this coin roll hunting madness, driving hundreds of miles, eating out and sometimes even staying overnight in remote locations, I really should consider making this a business and that way I could write off mileage, travel expenses and the like.

I can't decide whether to split the profits with Uncle Sam to get some tax breaks or whether to continue doing it out of pocket with no paper trail.

I'd like your opinions. Please share your thoughts.

 

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[coolpix9]

I feel like I tell Uncle Sugar enough about me.

My thoughts
get a safety deposit box and fill it with silver coins. When silver goes up,you have a nice little stash of insurance sitting in a bank. There are over 16 billion coins issued by the US Mints that have some silver content. I say get all you can before they wake up in Washington and recall them. Just my two cents worth. You can send me (2) 1909S VDBs for payment. Jim

 

[cyberdan]

I do not do it as a business, but I did open a dump bank account under my business name because their brochure said I could deposit up to $10000 per month fee free (that includes coin & cash)

I am saving all my silver for now. I suppose when I do sell it I will have to claim it. But for now it is too little to worry about.

 

[killerwine]

Do it as a business and show a loss....