How to Avoid Silver and Gold Taxes: 3 Tips!

How to AVOID Silver and Gold TAXES: 3 TIPS discusses methods in which I and other bullion dealers avoid paying taxes on their silver and gold purchases. This video really applies to people who live in states where sales taxes are placed on gold and silver purchases. Many feel it is absurd to tax money, especially silver and gold bullion coins. Again, this video applies to purchases of silver and gold taxes which are placed on metals when buying. I will do a follow-up video to this discussing the sales of metals and tax implications at a later time.

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#silver #gold #taxes

[oldmanjenkins]

I don’t mind paying taxes. If the money went to our local infrastructure, education, law and EMS. Sadly sadly 70 cents of our dollar goes to nonsense.

[Teh-Jones]

One of the few benefits of living where I do is not worrying about sales tax...

[weeklybullion]

Thank you for the transparency, Stormy! Thankfully, my state does not charge sales tax, but I’ve always been curious about the LLC aspect for precious metals. Thank you, my friend!

[hopesndreams]

My lcs only deals in cash, never any paperwork, he won’t give you a receipt buy or sell

[biglow]

You don’t ever pay taxes on real money! It’s in the constitution. Gold and silver is constitutional money!!!

[DZ-rffh]

OK charges sales tax with one interesting exception."There's a difference between bullion purchased and stored in a depository (an institution that accepts delivery of precious metals and stores them) and bullion purchased for personal use or artistic value. Bullion stored in a depository is exempt from state sales tax."

[jenihansen]

sometimes, if you pay cash, they do not charge tax.

[joeblack]

In Ohio a sales tax is on 40% and 90% gold and silver coins from the 60s and older and every few years a sales tax gets put on, bullion for a few years once the duration of the tax bill on bullion expires the sales tax doesn't get reinstated for a few years trend is for the most part every 4-6 years no sales tax on bullion followed by 4-6 years of sales tax on bullion

[njstacker]

Stormy I have a LLC here in NJ and I will definitely look into this on Monday with my accountant. Thanks for the information, it is a shame we live in a State that does this crap. Even NY does not charge if you buy over $1000.00.

[simplehillbilly]

That's one of the things I love about my state no tax on pms at all long as it's cash

[MRkriegs]

you should not have to pay any sort of taxes on us currency let alone precious metals! this is a scam. avoid taxes at all costs. thanks stormy

[liambudgell]

Glad I live in Georgia and don’t pay sales tax what so ever 🙏🏻

[chrisbrannan]

I live in Maryland, but i buy my silver and gold in Virginia because they have no sales tax on silver and gold.

[jimlewis]

There is no sales tax on PM's in Georgia. I had no idea anyone in our country had to pay that.

[Chuck_Stacks]

Hell Yeah Stormy!!! Thanks for sharing this awesome insider info 👍 Respect 😎💰

[silverliner]

Living in Colorado I don't have to pay any tax unless you purchase in the city limits of Denver. There they have a city tax

[ericson]

Before I buy every week or every month now I buy until I save five hundred after Florida change the rules 😒great video stormy!👍🏻💪🏻

[wadeglogiewicz]

No mores sales tax in NJ for precious metals starting January 1, 2025!

[Thegoldmine]

In Australia there is no goods or services tax on precious metals as long as they are 999 pure. Items below 999 well have a 10% GST. So if you are in Australia only buy 999+ to avoid the tax. That means no gold Krugerrand. No sovereign, no American eagles

[mRahman]

I buy $2k+ in bullion to avoid the sales tax. Simple.