Melman on Gold & Silver
February 2013 by Leonard MelmanWell, the year 2013 is now underway and we have surely entered the “Brave New World” that has followed the election of 2012. From my personal point of view, and I might add, unfortunately, this year and the ones following are beginning to appear that they will turn out to be quite similar to the preceding period.
When it comes to the expense of using a car, van, pickup or panel truck for business purposes, they can be deducted by the operation as 'transportation" expenses.
Although the risk of a federal tax audit remains low, thanks to the Internal Revenue Service’s secret audit selection process every prospector, miner, and mining-related business owner has good reason to fear an audit, but only if they are not prepared.
The most important question, of course, is when these deteriorating fundamentals (positive for the precious metals) will overcome the lengthy deterioration in the long-term trading charts for gold and silver and their associated mining shares.
It’s been no secret that the prices of gold and silver have been moving upward at a fast clip in recent months. Gold has soared 27 percent so far this year. There has not been a significant drop-off in production, so it’s been evident that an increase in demand has been a part of the force driving the price upward.
The extensive cost reductions now being put in place are not just a short-term reaction to the recent drop in gold prices...
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