How much profit did you make last year?

guestrollitup

New Member
NoDrama, that's great! Thanks for sharing. I will look into that, although most of my profits are directly expelled. Thankfully the Canadian Dollar is fairly stable, however Gold and Silver are a viabale option, and by the sounds of it a smart one at that.
 

racer3456

Well-Known Member
Well I guess in a year I make about $10,000, but take out of that supplies, and electricity and thats down to about 7k. I don't have much cash, it has no REAL value its just a piece of paper. What i do is buy Gold and Silver, for many reasons, #1 it holds its value better than any other asset against inflation, #2 i can bury it in the ground and dig it up 30 years later and it will still be in perfect condition #3 its mandated by the US constitution as "Real" money #4 It will never be worth nothing #5 Highly liquid in any part of the world #6 has been used as a store of value by mankind for 5000 years #6 Gold and silver sales by law are not to be reported to the government, only the cash sale would be if its over 10k. I bought a lot of silver last november and so far have made 70% profit on that, but I won't pay taxes on it cuz the govt can never prove that I own any. And one of the best reasons to own gold and silver is because the Govt cannot tax it ( By Law) and therefore cannot control it nor can control the person who has it. Remember the golden rule! He who has the gold makes the rules. Did you know that if you left the country with ANY amount of gold you would not have to declare it? thats right, its protected by law. Massive inflation is coming in the next few years, will you be ready for it?
Very interesting. I didn't know that you can take it with you out if the country and not have to declare it. That's awesome. Now, making sure custom officials (in a poor country) don't take it is a different story.
 

nexcare

Well-Known Member
If you are making really good money, why not buy a few acres and buy cattle? You can buy a calf for $150 or so(sold by the pound), and all you have to do it castrate them, give them roids and let them chill for a year, and sell each one for about $1000. I know most people don't know shit about any of this, but if you found someone to help you, you could easily turn $200k a year into legit money. Most cattle auctions are done in cash. ALSO, if you have more than 5 head of cattle on your land, you get agricultural tax breaks from the government.
 

la9

Well-Known Member
If you are making really good money, why not buy a few acres and buy cattle? You can buy a calf for $150 or so(sold by the pound), and all you have to do it castrate them, give them roids and let them chill for a year, and sell each one for about $1000. I know most people don't know shit about any of this, but if you found someone to help you, you could easily turn $200k a year into legit money. Most cattle auctions are done in cash. ALSO, if you have more than 5 head of cattle on your land, you get agricultural tax breaks from the government.
I thought that is what a lot of people do, sell drugs to get enough money to go legit and then quit selling, sounds like the smart thing to do to me.
 

mud1dnot2

Well-Known Member
Well if you guys are bringing in enough cash, why not start up a "legit" business that has little to no overhead. Like a lawn care business. Where basically you're selling a service instead of selling merchandise. You can then claim your "earnings" and not have to worry about being able to throw the the cash in the bank. And as far as the gov't knows you just mow lawns all week. Shit you can even keep your gas receipts and write it off at the end of the year via 1099. As long as Uncle Sam is getting his cut then he probably won't give a shit.
 

S0uthernSm0ke

Well-Known Member
Well if you guys are bringing in enough cash, why not start up a "legit" business that has little to no overhead. Like a lawn care business. Where basically you're selling a service instead of selling merchandise. You can then claim your "earnings" and not have to worry about being able to throw the the cash in the bank. And as far as the gov't knows you just mow lawns all week. Shit you can even keep your gas receipts and write it off at the end of the year via 1099. As long as Uncle Sam is getting his cut then he probably won't give a shit.

good idea. also, Real Estate. Land is land is land. it's running out. Land today will be more expensive land tomorrow.

-SS
 

la9

Well-Known Member
I don't think it's a good idea, I think they prosecute money laundering pretty well.
 

guestrollitup

New Member
Very true guys,
Money Laundering isn't really the point of this thread, but its more then welcome! :)

Personally, (and I am not kidding) I do not declare anything at all, and I ALWAYS donate at least 10% (17% last january) of my profit margin to a local charity of my choice. I figure tax-evasion brings bad karma, and $10 given to a charity does more good then $100 in a government budget.
 

mud1dnot2

Well-Known Member
I think they persecute laundering and evasion equally well. Call it what you want but it's breaking the law anyway you cut it. To each their own I suppose. It's just more about which one the Fed will bust you for first...Seems like evasion would be easier to sniff out than laundering. Plus, I just think cashing in your gold or silver so you can pay the electric bill or buy some supplies seems like a pain in the ass. *Sry for jacking your thread. Good topic though!
 

guestrollitup

New Member
It's all good man, interesting topic heh.
For the most part, if you keep each deposit under $5000 then you're not going to get reported.
Small business tax is at a all time low, mowin' lawns doesn't seem like a bad idea! heh.
 

NoDrama

Well-Known Member
Plus, I just think cashing in your gold or silver so you can pay the electric bill or buy some supplies seems like a pain in the ass. *Sry for jacking your thread. Good topic though!

Just FYI it takes me longer to go to the drive up ATM than it does to sell my gold or silver, and I live in a small town. Currently in Zimbabwe that country is suffering from HYPER inflation and they print trillion dollar bills that can only buy a piece of bread. the population there now will not accept the worthless paper money and will ONLY accept gold and silver as payment. Now i seriously doubt it would get quite that bad here, but it happened to Germany also, In fact weimar germany money was used to heat the homes because it cost less to burn the money than it cost to buy actual wood. Toilet paper cost more than paper money did also, so people just wiped their asses with the money and saved the more valuabe shit paper to trade or barter with. The hyperinflation in Germany gave Hitler a chance to seize control of the country and we all know what happened then. Could it ever happen here? I hope not.
 

guestrollitup

New Member
Just FYI it takes me longer to go to the drive up ATM than it does to sell my gold or silver, and I live in a small town. Currently in Zimbabwe that country is suffering from HYPER inflation and they print trillion dollar bills that can only buy a piece of bread. the population there now will not accept the worthless paper money and will ONLY accept gold and silver as payment. Now i seriously doubt it would get quite that bad here, but it happened to Germany also, In fact weimar germany money was used to heat the homes because it cost less to burn the money than it cost to buy actual wood. Toilet paper cost more than paper money did also, so people just wiped their asses with the money and saved the more valuabe shit paper to trade or barter with. The hyperinflation in Germany gave Hitler a chance to seize control of the country and we all know what happened then. Could it ever happen here? I hope not.
Haha, wow. +Rep.

Quite the good discussion sofar!
 

420weedman

Well-Known Member
Just FYI it takes me longer to go to the drive up ATM than it does to sell my gold or silver, and I live in a small town. Currently in Zimbabwe that country is suffering from HYPER inflation and they print trillion dollar bills that can only buy a piece of bread. the population there now will not accept the worthless paper money and will ONLY accept gold and silver as payment. Now i seriously doubt it would get quite that bad here, but it happened to Germany also, In fact weimar germany money was used to heat the homes because it cost less to burn the money than it cost to buy actual wood. Toilet paper cost more than paper money did also, so people just wiped their asses with the money and saved the more valuabe shit paper to trade or barter with. The hyperinflation in Germany gave Hitler a chance to seize control of the country and we all know what happened then. Could it ever happen here? I hope not.
ok, i understand what your saying... but answer this.... where do you go to change your gold into US cash ?

gold may be worth... say 700 ounce ... who pays you that for it ?
does it have to be melted in bar form ? or can it be solid gold jewelry ?
 

Maybetomorrow

Well-Known Member
Gold is weighed in grams. Depending on the quality of the gold ( 8k, 10k, 18k. . . ) depends on how much you get for it. They will take it however you have it in the states or anywhere for that matter.

PS don't do cash4gold.com Huge ripoff they did reports on it and they only give you 20% what your gold is really worth. And stay away from gold parties same thing! A good friend on a jewelry shop and he went to one with 131 grams of random gold jewelry all the same 18k gold( worth around $3100 ) The guy wanted to give him $200 for all of it so beware)
 

420weedman

Well-Known Member
Gold is weighed in grams. Depending on the quality of the gold ( 8k, 10k, 18k. . . ) depends on how much you get for it. They will take it however you have it in the states or anywhere for that matter.

PS don't do cash4gold.com Huge ripoff they did reports on it and they only give you 20% what your gold is really worth. And stay away from gold parties same thing! A good friend on a jewelry shop and he went to one with 131 grams of random gold jewelry all the same 18k gold( worth around $3100 ) The guy wanted to give him $200 for all of it so beware)
im not sure if you are responding to me ? either way thats my point...

WHO pays US cash for EXACTLY the value of the gold?:confused::confused:
 

AboutthatCheddar

Active Member
im same as you barret im in SW ontario and we pay 40-60 / Quarter last yr i made enough to live comfortably i never keep track of numbers tho.
 
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