August prospecting

[MadMarshall]

Not really a whole lot goin on my way.. Just floating and walking and sleeping in sand if I'm lucky. Today I ended up at the bridge and had a few hours to kill before I had to make my grueling ascent and this time of year its just best to be in the water or suffer the heat.. So I naturally did some prospecting and was pleasantly surprised.. Hit a nice little pocket to finish the day off.. Anyway right under the bridge who would of thought? Well I aint rich yet but I suppose I cant complain. Anyway just out and about. So many miles to cover and before I know it the season will be over.. Anyway hope you are all well and getting some gold..

 

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[Reed Lukens]

So you have maybe 1/4ozt sitting there and it's mostly nuggets so it will bring bring in roughly $350.00 give or take at $1250ozt. The title says August but that's just one day of work right? So do you take 1/4 of that gold and sell it to pay the taxes on your mining income? Let's say that you go out 3 days a week and bring in that $350 in gold, that is about $54,000.00 a year before taxes and approximately $40,000.00 after according to this tax calculator -
$55000 Federal Tax Calculator 2017/2018 | 2017 Tax Refund Calculator
Obviously you're making a decent wage on your gold mining Victor and you have it all documented on video for the government, so I'm just wondering how you pay that approximately $14,000.00 in taxes that you owe this year from your gold mining income? Do you sell it? Do you melt it down? How do you convert it into the money that you owe the government to pay your taxes? Obamacare wants everyone who makes over $50,000.00 a year to pay their $600 a month or more to keep the underlings or illegal immigrants covered and paid for. Do you pay your $600 a month to Obamacare also? Or do you have private insurance?
I'm just curious as to how much of that gold the government is getting from you, and are they getting at least the $14,000.00 a year from you for the taxes owed based on that video?

 

[AU79 Prospector]

Maybe he doesn't sell it and it is just a hobby? If you don't sell, no taxes =)

 

[Garrote Gold]

So you have maybe 1/4ozt sitting there and it's mostly nuggets so it will bring bring in roughly $350.00 give or take at $1250ozt. The title says August but that's just one day of work right? So do you take 1/4 of that gold and sell it to pay the taxes on your mining income? Let's say that you go out 3 days a week and bring in that $350 in gold, that is about $54,000.00 a year before taxes and approximately $40,000.00 after according to this tax calculator -
$55000 Federal Tax Calculator 2017/2018 | 2017 Tax Refund Calculator
Obviously you're making a decent wage on your gold mining Victor and you have it all documented on video for the government, so I'm just wondering how you pay that approximately $14,000.00 in taxes that you owe this year from your gold mining income? Do you sell it? Do you melt it down? How do you convert it into the money that you owe the government to pay your taxes? Obamacare wants everyone who makes over $50,000.00 a year to pay their $600 a month or more to keep the underlings or illegal immigrants covered and paid for. Do you pay your $600 a month to Obamacare also? Or do you have private insurance?
I'm just curious as to how much of that gold the government is getting from you, and are they getting at least the $14,000.00 a year from you for the taxes owed based on that video?

wow what a creep, who cares what he does with his gold. Someone is jealous. Plus dont assume its 99% gold, it is not.....

 

[Goldwasher]

lol reed knows Victor...and......

Victors source of income is gold. He has a claim. So, the only gold he can legally sell from public land is from that claim. or, one he is leasing or has permission to work on.

If he digs for gold, sells it and makes an income (capitalism at it's finest) then he needs to pay his taxes.

If he believes in the sanctity of the mining law as he claims and shows in his rants against AMRA...

Wouldn't he be a GINORMOUS hypocrite for not following it himself

 

[Garrote Gold]

ok, you and reed can post your taxes and lets see what you both have done for america. I have ounces of placer gold and will not sell until the price goes sky high, why do you think everyone needs to sell?

put up or shut up

 

[MadMarshall]

Reed if I can get some of Karen's good cooking Ill stop by and let ya strangle me in person? Reed don't ask questions you already probably know the answer to.. What is your objective? If you tell me maybe I can drive you straight to it ,,, instead of you taking the scenic route to your point? But anyway reed that was a good guess on that pocket.. just a hair over quarter ounce..
Gold is better then money why would I want to trade gold for paper? Anyway hope life treating you well and you got some good prospects for the future

 

[beekbuster]

Maybe he doesn't sell it and it is just a hobby? If you don't sell, no taxes =)

....thats something you think, but you dont say. the wrong person reads that, things will change.

 

[MadMarshall]

well I'm goin back out tomorrow for a few days . Gentlemen I wish ya well and some gold..

 

[TAKODA]

So you have maybe 1/4ozt sitting there and it's mostly nuggets so it will bring bring in roughly $350.00 give or take at $1250ozt. The title says August but that's just one day of work right? So do you take 1/4 of that gold and sell it to pay the taxes on your mining income? Let's say that you go out 3 days a week and bring in that $350 in gold, that is about $54,000.00 a year before taxes and approximately $40,000.00 after according to this tax calculator -
$55000 Federal Tax Calculator 2017/2018 | 2017 Tax Refund Calculator
Obviously you're making a decent wage on your gold mining Victor and you have it all documented on video for the government, so I'm just wondering how you pay that approximately $14,000.00 in taxes that you owe this year from your gold mining income? Do you sell it? Do you melt it down? How do you convert it into the money that you owe the government to pay your taxes? Obamacare wants everyone who makes over $50,000.00 a year to pay their $600 a month or more to keep the underlings or illegal immigrants covered and paid for. Do you pay your $600 a month to Obamacare also? Or do you have private insurance?
I'm just curious as to how much of that gold the government is getting from you, and are they getting at least the $14,000.00 a year from you for the taxes owed based on that video?

Taxes ? ......... we supposed to pay taxes on this kind of stuff .........................

 

[gldguy1]

ok, you and reed can post your taxes and lets see what you both have done for america. I have ounces of placer gold and will not sell until the price goes sky high, why do you think everyone needs to sell?

put up or shut up

I know I'm saving all my gold until the next election cycle lol. Why put in all the work to get the gold to not get top dollar.

 

[Goldwasher]

Taxes ? ......... we supposed to pay taxes on this kind of stuff .........................

well, when you "make a wage" mine as an income....when you sell, you are obliged to pay tax on your income from it.
Not, really that big of a deal.

Especially when you spend a lot of time harping on the "non- wage" earners who are ruining everything for the "wage earners"

 

[Reed Lukens]

Reed if I can get some of Karen's good cooking Ill stop by and let ya strangle me in person? Reed don't ask questions you already probably know the answer to.. What is your objective? If you tell me maybe I can drive you straight to it ,,, instead of you taking the scenic route to your point? But anyway reed that was a good guess on that pocket.. just a hair over quarter ounce..
Gold is better then money why would I want to trade gold for paper? Anyway hope life treating you well and you got some good prospects for the future

I'm just having some fun Victor
Thought I'd throw a little reverse into the amra taxes game for fun. Being a miner for profit, I have to pay taxes quarterly on what I sell to keep the Feds happy... But my income all comes straight out of the ground and keeps us paying our way thru life instead of living off the government like so many others do these days. To me, that's what counts. Taking it straight out of the ground and into your hands to make an honest living is rare these days.,you know

 

[Rail Dawg]

We only have to pay income tax on gold sales after expenses are taken out.

Most miners are unaware just what can be deducted.

.55 a mile for car/truck expenses is a start.

Go to store to buy office supplies to keep records?

Deduct the mileage.

The list is long.

 

[Nitric]

I like watching the vids..Looks like a beautiful place.....I could only dream of making a living that way, out there! Looks like the dream job!!!!


Why do a lot of these threads in the gold area, have stuff carrying over from somewhere else. I haven't read all the threads but this is like the 3rd one with side issues....Maybe it's because I don't read enough of them and didn't keep up...

 

[huntsman53]

Taxes ? ......... we supposed to pay taxes on this kind of stuff .........................

Me to the IRS man: What you saw in my' Gold Pan was baby poop I caught when we were teaching our' baby to swim. We fed little Jim too much Gerber yellow squash and carrots yesterday and boy did he unload in the river. I even saw a Salmon puking as it swam by.


Frank

 

[Sample Pan Dan]

I just hope he stays off my claim...

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[mytimetoshine]

good god. shut up you guys. Let the guy post his gold. neither one of you two post anything...

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[Goldwasher]

A- he brings it on himself

B- Ive posted finds numerous times....posting finds is not a requirment to comment on threads.

C- you have no right to tell people to "shut Up"

D- the more it bugs you ...the better

 

[gldguy1]

Someone might need to borrow this so your welcome [emoji23][emoji23][emoji23][emoji23]