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View Full Version : You guys hear about this?


Okla-homey
12/21/2007, 01:20 PM
Some smarty-pants somewhere (I forgot where) pays his contract employees with recently minted gold coins. He buys them, then pays his folks with them.

Here's the funny part. A 2007 US five dollar gold piece sells for $99 on the retail market

Thus, smarty-pants pays a $1000-a-week contractor in cash with ten of these coins. Because a person who employs independednt contractors is not required to do any withholding, then, said contractor claims on his taxes he only earned $50 because that is the face value of the coins in which he was paid.

The IRS is not amused.
SicEmBaylor
12/21/2007, 01:23 PM
Heh, I admire that man.
RUSH LIMBAUGH is my clone!
12/21/2007, 01:26 PM
Heh, I admire that man.Why, he's begging for IRS scrutiny.
frankensooner
12/21/2007, 01:29 PM
Seriously, if it is minted by the US Gov't and has a face value of $5 I don't see the problem. Maybe they should make it a $99 coin.
SicEmBaylor
12/21/2007, 01:30 PM
Seriously, if it is minted by the US Gov't and has a face value of $5 I don't see the problem. Maybe they should make it a $99 coin.

Well, that would just make too much damned sense for the government.
Widescreen
12/21/2007, 01:34 PM
I suspect that the IRS will start hassling him about classifying those people as contractors. They love doing that kind of thing.
OUDoc
12/21/2007, 01:35 PM
The IRS is not amused.
It's their game, he's (was) just winning at it.


And someone posted this on here a month or so ago.
proud gonzo
12/21/2007, 02:16 PM
that's hilarious
jeremy885
12/21/2007, 02:43 PM
http://www.soonerfans.com/forums/showthread.php?t=103032
rufnek05
12/21/2007, 04:39 PM
very sneaky.