In an example of how certain categories of antiques and collectibles can rise and fall quickly, the market for gold coins is undergoing gyrations because of volatility in global commodity prices for the precious metal, according to a recent Wall Street Journal article.
Because of the runup in the price of gold over the past year, […]
There was an interesting article in the Wall Street Journal on Valentines Day (good to know they still have a sense of humor) about how the IRS classifies collectors into three categories for tax purposes: 1) Collectors; 2) Investors; and 3) Dealers.
Depending on which category you decide on (and presumably stick to), the IRS will […]
The New York Times had an interesting piece yesterday on the issue of paying capital gains taxes when selling items from your collection. In addition to discussing how the IRS views collectors who aren’t dealers (they expect you to pay anyway), the piece shed some light on how to establish the “cost basis” for […]