DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - andover voting to pay employees in silver coins

**angelxmagic** · 02-09-2012, 10:22 PM

Your facts are right, but it's still no different than what the city if proposing. Other than the time period of employee ownership of the coins, it's exactly the same. So if you pay your employees in silver and they immediately sell that silver for FRNs, that's tax fraud, but if you pay your employees in silver and they wait, how long, 8 hours, 24 hours, before they sell the silver for FRNs, that's simply tax avoidance and is ok?

What about this: I'm presuming these payments are documented. Each time an employee converts a GAE to FRN to purchase something, does it trigger a realized capital gain (loss) event for Federal tax purposes? What would be considered the cost basis?

02-09-2012, 10:22 PM	#15
angelxmagic Join Date Oct 2005 Posts 402 Senior Member	Your facts are right, but it's still no different than what the city if proposing. Other than the time period of employee ownership of the coins, it's exactly the same. So if you pay your employees in silver and they immediately sell that silver for FRNs, that's tax fraud, but if you pay your employees in silver and they wait, how long, 8 hours, 24 hours, before they sell the silver for FRNs, that's simply tax avoidance and is ok? What about this: I'm presuming these payments are documented. Each time an employee converts a GAE to FRN to purchase something, does it trigger a realized capital gain (loss) event for Federal tax purposes? What would be considered the cost basis?
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