Cash for gold buyers regulated .............wow what next

[Tank69]

this will be an interesting one to watch an see who else jumps on the wagon......



http://www.king5.com/news/local/Bill-would-regulate-Cash-for-gold-buyers-115606824.html

 

[jadeblackhawk]

Why not?

We have to do that here at the scrap yard.

When you first get there, they copy your DL, take your plate #. They weigh your scrap while you fill out a form stating where it has been stored. Go to office, fill out more paperwork, show DL again, get fingerprinted. If the total is under $50, they give you a card to use in the machine outside that gives cash. Over 50, you get a check.

 

[Nathatniel Spogsworthy]

Thats not all, lord obama is getting his fingers into the mix too, if you want to sell your gold or silver if over a certain amount the dealer has to fill out a 1099...You guessed it you get one too and have to pay taxes on it. they snuck this into a recent bill thieves.

 

[Nathatniel Spogsworthy]

Here is a link. it was slipped onto the health care bill.

http://www.thenewamerican.com/index.php/usnews/politics/4110-new-tax-burdens-for-selling-gold

 

[ivan salis]

surprize folks ---- big govt = big taxes to support the same -- the goal of govt is to find all sources of income , get a % cut of it .--- surprized ? you shouldn't be -- any govt big enough to give you all that you think you deserve , will be big enough to take all that you got first., then you WILL get BACK what they think you deserve -which of course will not be the same as what you think you deserve.

 

[NHBandit]

It's only going to get worse. I'm sure they are trying to figure out how to tax Ebay sales, craigslist sales, etc and on and on. I honestly believe that if they had their way they would do away with cash completely so they can keep tabs on every single transaction no matter how small or how innocent.

 

[TheRandyMan]

That 1099 form requirement on any transaction over $600 was just repealed by the Senate and it will not be long before the House follows suit and does the same. But, thats just a little bone they are throwing back after taking the whole carcass. Look...everyone needs to understand that if you want to sell something, just find a private buyer. I can guarantee you that everything you want to sell has a private buyer out there just waiting to make a deal. Why continue to play the game and go places that want a copy of your DL, your SS#, your license plate, your left nut...etc, etc..

Yeah, it takes a bit more time but once the connection and networking is done, you never have to worry about it again. Heck, this little internet site right here has connected me to the point to where I will most likely never have to sell to a "government controlled" company again.

Get out of the loop or pay the consequences.

 

[jadeblackhawk]

I'm sure they are trying to figure out how to tax Ebay sales, craigslist sales, etc and on and on.

There have been tax laws in place on this stuff for a long time. What they are doing is finding new ways to enforce it.

 

[SeaninNH]

Simple solition... Sell your gold in lots of $500.

 

[NHBandit]

Simple solition... Sell your gold in lots of $500.

Good advice neighbor but that only works for small amounts. With the price of gold these days that means if you have a US double Eagle you want to sell you'd have to cut it into quarters. I agree with the guy who says deal in cash only & only with private buyers. We need to take back control. Personally I do a bit of business on Ebay and have for several years. If they start monitoring the sales I will give it up and do something different. Every single item I have ever sold on there was something I paid for at some point in the past. Some I made money on & some I maybe lost a little on and I never bothered to keep reciepts for what I bought. So in the governments eyes every penny I have made on Ebay is pure profit & subject to taxes ? I don't think so...

 

[necsteve]

Unfortunate pain in the butt...but then there are also a huge amount of "buy your gold" ripoff artists that have
sprung up the last couple years.

 

[deepskyal]

I'd be danged if I ever give a sales person or someone buying something from me my fingerprints or SSN. If they ever asked, they'd see the reverse side of one of my fingers.

Al

 

[freddy williams]

gov't will have us living like russia before long telling us when we can buy food also. I didn't vote for obama he pulled the wool over everyones eyes out there and now all of us are paying the piper I say impeech him like the egypt pres. not I am not encite nothing like a riot or anything just expressing my freedom of speech if I even still have that or has it been taken also. The health care bill screwed alot of people who gold detecte with dreges in CA, OR, and now iowa colorada and a couple other states want in on it. It was the gov. way to put on hefty taxes on these individuals. Like us detectors if we want to enjoy our hobbies we will ONE day also need these thousands of dollar permitts to even dig in our own yards. I read that the goverment wants control over all water rights also so if you farm you will need a permitt to water your live stock. Get real get ride of the bull shit go. Oh yeh another thing you let one of us take a bribe from a congressman our asses are of to federal prison and they will trow away the key and we would probably site their for years before a trail while these congressman take bribes and still work there jobs screwing us even more each day. We need to do something and fast or we will be screwed how can the go. change the constitution that was put in place to protect us. Where is our country heading to hell in a hand bag. just food for thought is all....