12/18/2023 0 Comments Gold and silver coins for sale near meMany investors, including financial advisors, run into trouble owning these investments. This is the case not just for gold coins and bars but also for most ETFs (exchange-traded funds) which are taxed at 28%. According to the IRS 1: "Collectibles include works of art, rugs, antiques, metals (such as gold, silver, platinum and palladium bullion), gems, stamps, coins, alcoholic beverages and certain other tangible properties." Collectibles are Taxed at 28% Gains on most other assets held for more than a year are subject to the 15% or 20% long-term capital gains rates. Internal Revenue Service (IRS) categorizes gold and other precious metals as “collectibles” which are taxed at a 28% long-term capital gains rate. investors the returns provided by owning physical gold - and the other precious metals including silver, platinum and palladium - come with a sobering surprise when the assets are sold and it’s time to pay taxes. Along with other precious metals strategists, we believe the yellow metal could surpass its all-time high of $1,900 within the next couple of years as investors confront the realities of lower for longer global interest rates, swelling worldwide debt, trade tensions and mounting geopolitical uncertainty.įor many U.S. We’re of the opinion that we are at the beginning stages of a new bull market for gold. Holding steady near $1,500 an ounce, the price of gold has climbed more than 17% thus far in 2019 (as of 9/26/19).
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