$10 million worth of gold coins in your backyard

Reply #11

Artist77 — Sat, 01 Mar 2014 17:31:17 GMT

I agree with you Jill...after whatever is withheld automatically, I will max out all the rest that is due and send it to various charities. I always promised myself to give at least 10% of my total win to charity and this is an easy to accomplish it.

Reply #10

Jill34786 — Sat, 01 Mar 2014 14:53:12 GMT

It appears the majority here would simply take the easy way out and pay the State and Federal Government the taxes and move on, I on the other hand would not.

I would put aside $4 million toward different charities and charitable trust. This would go a long way towards minimizing your overall tax obligations (13.3% state, 39.6% Fed and 3.8% medicare/Obamacare).

In the end, your net gains will only be several hundred thousands less but you will sleep much better knowing you shared your good... [ More ]

Reply #9

mightwin — Sat, 01 Mar 2014 14:03:08 GMT

I would of keep the find to myself, who knows if the person who put them there is still around and may want them back.

Reply #8

Shelby Mustang — Sat, 01 Mar 2014 02:09:04 GMT

LOL Wiseguy you went way back man!! Ive benn watching Esquire network and they're showing Miami Vice marathon on Wed and Magnum P.I. on Thurs and now A-Team on Fri...Live on 80s t.v. dramas

Reply #7

mypiemaster — Sat, 01 Mar 2014 00:50:47 GMT

Just pay the the tax and move on with your life.

Reply #6

Coin Toss — Sat, 01 Mar 2014 00:40:24 GMT

Shouldn't they only have to pay taxes on what they turn into cash? Did they cash them all?

Anyone remember one of the final episodes of Wiseguy with Ken Wahl and Ray Sharkey?

Wahl, role of undercover cop. talking to Sharkey, role of A.C. casino owner Sonny: You killl people.

Sonny: I don't send teenagers to some jungle to do it for me.

Wahl: You skirt taxes.

Sonny: Even when a guy like me makes a profit and does it illegally some clown from the government is there with his hand ou... [ More ]

Reply #5

maringoman — Sat, 01 Mar 2014 00:31:43 GMT

I would sell them in a heartbeat and pay IRS what I owe them and then move on with life. I'd also get out of California. $10M in California is like $20M in South Carolina. I'm just saying.

Reply #4

CDanaT — Fri, 28 Feb 2014 22:54:00 GMT

Tough call...being a collector, I may have held onto those coins. The value was supposedly very large on a few of the rare ones. I may have contacted a few associates who have contact with big buyers and tried to sell them privately in a cash transaction....But a nice find and congrats to the couple(and their dog)...Best of luck with their new fortune

Reply #3

Shelby Mustang — Fri, 28 Feb 2014 22:46:21 GMT

Wow I heard everthing except that the govt wanted half in taxes. They gave an interview and said that they were happy because now they can keep the land that they found the coins on. It was getting ready to go to foreclosure

Reply #2

Saylorgirl — Fri, 28 Feb 2014 20:56:09 GMT

I am sure they were so excited to find such an amazing windfall and then to have to pay the piper for half is disappointing. I don't know what I would have done but I don't think there was anyway around the taxes. On the flip side they have $5 million dollars that they didn't have before.

Reply #1

noise-gate — Fri, 28 Feb 2014 20:13:04 GMT

Pay Uncle Sam. The G20 in 2013 said that they were going after person's companies that hide their assets in so called Tax haven countries in order to avoid paying their fair share of taxes.

Death Taxes lady. They inescapable.

$10 million worth of gold coins in your backyard

Drenick1 — Fri, 28 Feb 2014 18:25:13 GMT

If you found $10 million worth of gold coins in your backyard what would you do? The reason I am inquiring is a couple in California recently came across such a discovery and the Government is seeking half of that amount in taxes.

What would you have done if it was you