You probably didn’t need another reason to stay away from gold-backed ETFs. But just in case, here is another reason: taxes. Instead of getting taxed at the regular long-term capital gains max tax of 20%, gold backed ETF’s get taxed as a collectible at 28%. There are many better alternatives to exposure to the price of gold in your investing accounts than using these funds.
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LEARN MORE ABOUT: Precious Metals IRAs
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
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Rubbish. Taxes are part of the game. Also, what does it mean "never sell gold"? Isn't someone here missing the point about what money actually is about?
This is basically lying by omission or lacking research. A very common issue with "financial wisdom" youtube channels. If you understood that corporations already pay a 21% flat tax rate then factored in the 20% top capital gains rate, you'd realize that a gold etf isn't taxed unfavorably at 28%.
So what the heck do you think will happen in the near future to paper gold and silver on the stock market? It doesn’t match the actual hard asset values. Do you really think the stock market ETFs are going to rise in value in the short term coming up
So PM ETFs (like GLD) in a Roth would be okay, because it's not going to ding me on capital gains when I start drawing on that?
Great info as always brother #etf #gold #taxes
THIS IS NOT THE CASE WITH SPROTT PHYSICAL TRUSTS: CEF, PHYS and PSLV. IT IS ACTUALLY FAR MORE EFFECTIVE TO LONG TERM SWING TRADE THAN OTHER PHYSICAL/FUTURES OPTIONS. THERE IS TAX PAPERWORK TO DO (IRS 8621).
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
my portfolio has good companies, however was red all through last year. My first year of investing and have been down 35% in the March/April sell off, and now down 17% in the last sell off. I work hard for my money, so investing is making me a nervous sad reck. I don't know if I should sell everything and just sit and wait.
Wow, this is so helpful!! Thank you!
If you don't hold it you don't own it. Physical gold and silver is the only safe answer.
This is very country dependent, in the EU (at least some countries) same logic would not apply
His technique and analysis is great.
David Mancini interpretation and projections of the market is always accurate. I recommend you contact him above ☝️
We were just looking at this for Mom.
What's an ETF?
Great info and insight as always. It's kind of irresponsible to ignore the fact that each ETF launch and the Russian invasion on Ukraine so far has caused a major dump at the speaks of crypto and global economy. A lot has changed and that's on Everything but the truth is I don't even care if the market is bearish or bullish because Amelia Walter's got me covered as I have made over 11BTC using her daily signals, strategy and guidance ✔️✔️
Joe, a missed opportunity of mentioning Sprott's products, because they do boast potentially different tax obligations for US investors. Would love to see it added. Good info!
Thanks for answering my question from an earlier video! I'll just continue to make purchases from the bullion banks
idk Americans confuse me in my country i can easily sell gold on fb market place meet the person in a safe location get cash the gov never knows why do you all act like their is no other way?
Here in Canada we have a few types of tax free accounts, so I can trade all the gold I want.
Mr Eddie Dewayne is the best recommending him to all beginners who wants to recover losses like i did..
but lets get one thing straight. So, GLD and SGOL held in an IRA aren't going to get taxed when sold. right?
premiums are taxes too.. silver almost has a 25% tax 🙂
Just listened to your gold buying course. Great information. I spent some time looking at my puny Vanguard IRA.. not Roth… 60/40. Making very little. Considering moving to I Trust and invest in gold
When I start making RMD I would pay taxes at that point. Not an expert here. Any feedback or advice?
I was lucky and have made some money on GLD. I haven't held it for a year, but selling and investing in Ethereum and XRP seems like a better option…
question for anyone or tax expert lol — I am seeing the collectible rate refered to as "maximimum" 28%. That seems like it could mean that there are rates below that. Might this 28% depend on your taxable income level. For example — ordinary income levels are 10,12,22,24,32,35,37. If 28% was the "MAX" then that falls after 24%. So does that mean for example if you sold a lot of gold say enough to make a 600k gain and assume thats your total taxable income. If the max was 28% then would not your taxable income levels be 10,12,,22,24 and 28. (600k income would mean you would owe the 28% on only the amount over the 24% (2021 taxable ordinary range for 24% is $86, 376 thru %164,925) So you'd only owe 28% on the amount above $164,924 and the ordinary income at the lower levels. Another example if this is true. If you only sold enough gold live on — lets say thats $40,000 and that amounts to say a $9,950 gain and your only income — then you'd owe only 10% of the $9950. Which is the rate for the 0 to $9950 ordinary income level. Otherwise I don't know why they call 28% max or cap for gold. Or could an alternative be that the 28% is added to the long term cap gain levels assuming you kept the gold a year or more? (I.E., 0, 15, 20 and max 28)
Feeding the YouTube algorithm. Great work. We appreciate it
Who's really going to pay taxes for your gold?
I never understood buying metal ETFs. It's a stock derivatives. No protection whatsoever
Yet another reason not to own gold ETFs is having to report all the tiny sell transactions that the fund makes on your behalf to collect expenses.
Another great piece of information…thanks as always
How come you don’t talk about uranium? You are on top of everything..I am waiting for your uranium videos…
My biggest surprise is that you don’t have a million+ subscribers. Never seen an average or poor video..been watching for over a year.
I wish I knew about long term capital gains when we made less than $80k a year. 0% tax is a pretty nice incentive to invest.
Buy gold gold and why would you tell someone especially the government you have it O.o
What happens to ETF when us govt seizes the gold ?
I only buy gold and silver ETFs in retirement accounts. Then there is no tax issue. GLD and SLV are a pain in taxable accounts. In taxable accounts, not only do you have the higher collectable tax rate, they also have those goofy capital gains distributions every month. If you are holding for the long term or to pass down to your kids, physical really is best.
Joe, I think the (obvious) reason to not give favorable tax treatment to gold ETFs is because they don’t advance the desired purpose of the markets, which is financing for commercial growth and the resulting job creation. In contrast, a gold ETF is just hoarding. Nothing wrong with that; but it doesn’t deserve special tax incentives.
I personally chose OneGold, which was launched by APMEX and Sprott. Having instant liquidity was the most significant benefit for me. Their redeem program to receive the physical bars also played an essential part in this decision. Of course, though, the sales tax will need to be assessed upon delivery, but it was a good fit for my circumstances. The only drawback is the 60 day wait period before the gold can be redeemable.
I chose GOAU for gold holdings in a Roth IRA. It’s 30 percent gold royalty and streaming companies (staking the miners, in exchange for the right to buy a quantity of ounces of gold at a set below-market price), and 70 percent miners.
Joe, you picked a great topic. I wish it went deeper. I'd like to have heard whether silver is taxed as a collectible. It would have been great to touch on how investors can get exposure to gold via steaming & royalty companies (ie. SAND, WPM, FNV, etc) and avoid the higher tax burden when selling.
US tax centric
Nice video!! Very engaging from the beginning to
the END., I'm new to crypto trade and I have been
making huge losses but recently see a lot of
people earning from it. Can someone please tell
me what I'm doing wrong