Commodity Trade Mantra

Posts Tagged ‘Capital Gains’

Gold and Silver - Honest, Sound Money Rising at the State Level

Supporters of sound money are working hard to reestablish gold and silver as money according to state law and to make sure it is treated as such in the tax code. Trading one form of money for another should not trigger any tax. There is no sales tax when customers swap their precious metals for dollars, so switching dollars to bullion should also be tax exempt.

IRS Rules Bitcoin Is Property - Not Currency

The IRS has issued its statement clarifying th etax treatment of Bitcoins – Bitcoin and other virtual currencies are treated as property, not as a currency. Therefore, an investor who buys bitcoin would typically have a capital gain or loss when it’s sold but wouldn’t have foreign-currency gains and losses.

Bitcoin versus Gold: Currency versus Money

Bitcoins are currencies, not money or investments and the differences between these three concepts is crucial to doing asset management right. Sound money doesn’t have counterparty risk; its value doesn’t depend on someone else keeping a promise & so holds value over long periods of time.

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