I don't see what the problem is unless you can't figure out the tax code. I
don't operate a business but I have lots of buys and spends because I'm a
dabbler and I only have to have to put up with my own mess. Nevertheless I
use Microsoft Money and count my ounces of gold as you would shares of
stock. I would prefer to disregard the dollar value altogether but I suppose
it's a good reference. When ever you do a spend that incurs capitol gain, a
screen pops up telling you how much tax will be due for the particular
spend.
Being sure that I had it all wrong, I asked a friend who is a tax
professional.
He's a stickler for going by the book and had to twist the thing into tax
language about "like kind trades" & more jargon. I was satisfied hearing
him say that he didn't think I should have any problem with my method even
if he didn't know how many tax professionals it takes to fill out a tax
return.
Loaves and Fishes Soup Kitchen Inc accepts E-Gold
www.loavesandfishessoupkitchen.com
----- Original Message -----
From: Samuel Mc Kee <[EMAIL PROTECTED]>
To: e-gold Discussion <[EMAIL PROTECTED]>
Sent: Thursday, May 24, 2001 12:21 PM
Subject: [e-gold-list] Capital gains
> Got a question for those running businesses, most especially those running
> E-Gold-only businesses. How are you handling the capital gains tax? Has
> anyone written any kind of specialized software to help with cap-gain
> recordkeeping in the E-Gold system? It seems to me capital gains
> calculations would quickly make E-Gold completely unworkable for a U.S.
> based business. Is anyone simply ducking the issue entirely (if so don't
> give your real name!) ?
>
>
>
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