The guy apparently paid his employees in Gold and silver and they paid taxres on the face value of the coins rather than what they were worth in PM. He apparently won. I am trying to think how I could use this to my advantage in business? Interesting? the metion of this case is on the bottom of the article.
Its a good case to follow. In one case the IRS will say that the coins are worth face. Then in this case, they want to assume market value.
What would the IRS say to the coin op laundry facility that received 90% silver quarters from some college kid spending grandad's old hoard to wash clothes?
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities.
The IRS vs. Robert Kahre
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Posted - 07/29/2009 : 11:43:10
