For the purposes of the tax code, the value of anything received in payment is its market value.
It so happens that the market value of $20 bills (most of them, anyway) is $20. And it so happens that the market value of $25 American Eagle gold bullion coins (I note in passing that "bullion" is part of their official name) is whatever the market is currently paying for 1/2 troy ounce of 22kt gold (probably in the neighborhood of $500 these days, I shouldn't wonder).
The Gold Bullion Coin Act of 1985, which authorized the production of American Eagles, might perhaps have something to say regarding this issue. I'll see if I can find a copy...
This is not an appropriate model.
You should be asking "if my employer pays me in pennies and one of those pennies has some rare quality making it worth $100 to a collector... is that an extra $100 of income?"
The tax law is fairly clear - yes, it is an extra $100 of income, whether you sell it or not.
If you want to seriously decrease the possibility that someone will 'go postal' when you fire them, then you must do in a way that enables them to get unemployment insurance. Believe me the weekly checks go a long way to 'smooth out the transition process'. It's a no-brainer and it doesn't cost the company any money.
Actually, it can cause the company's unemployment insurance premiums to go up (or not to decline as quickly as they otherwise would).
I am a Dell employee and I can tell you the future of the company is not manufacturing PCs or notebooks, but rather offering services-after-the sale for the machines built by contract manufacturers.
What "service" do you think you can offer that your competitors can't?
Now sum up 20% of my income power by 30 years or so, in interest-bearing accounts, minus inflation and it's enough to retire off of around 55-60 if you are determined and have your debts paid down.
Interest-bearing accounts minus inflation is negative now (and it's only going to get worse), so raised to the power of 30 that 20% of your income is pretty damn little.
When I was an undergrad in CS four years back, there were girls on my course offering sex in return for completing their programming assignments. I never took one of them up on this offer. To this day I have no idea why....
[M]y Ph. D. adviser once offered to write my dissertation for $3,000, which at the time (being a poor student), was a ridiculous amount of money (and immoral to boot).
In retrospect, I should've taken a loan and paid him to do it, it would've been easier and far more ethical than actually writing it myself.
Offtopic: This company is a *perfect* example of the economic potential for manufacturing in the U.S. It's a niche product, high quality, that won't have a market big enough for whatever low-wage empire to ever export the work. The address given on the website is a relatively small building, which according to the PVA's office is mostly warehouse (with a small office attached).
Manufacturing is most likely done in an ex-Lexmark plant somewhere in Mexico or the Far East....
in australia we have a legal principle: If it walks like a duck, looks like a duck, eats like a duck, weighs roughly the same as a duck and most australians who've seen it all consider it to be a duck, its most likely duck and probably laws about ducks apply, even if said duck says its a fucking goose. But does it also have to weigh the same as a witch?
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By your argument, then, we must find something that is now worth $1, and will always be worth $1, to make our dollar bills out of. Got any candidates?
For the purposes of the tax code, the value of anything received in payment is its market value.
It so happens that the market value of $20 bills (most of them, anyway) is $20. And it so happens that the market value of $25 American Eagle gold bullion coins (I note in passing that "bullion" is part of their official name) is whatever the market is currently paying for 1/2 troy ounce of 22kt gold (probably in the neighborhood of $500 these days, I shouldn't wonder).
The Gold Bullion Coin Act of 1985, which authorized the production of American Eagles, might perhaps have something to say regarding this issue. I'll see if I can find a copy...
The assumption you don't think exists is central to your argument...
While we're at it, care to cite a legal reference to back your assertion that the government has to value a $20 gold piece at $20?
Not from the bank. And unless they're fairly old pennies, not from the copper broker either.
US currency is valued at fair market value, just like everything else.
The value of the copper in the pennies.
This is not an appropriate model. You should be asking "if my employer pays me in pennies and one of those pennies has some rare quality making it worth $100 to a collector ... is that an extra $100 of income?"
The tax law is fairly clear - yes, it is an extra $100 of income, whether you sell it or not.
My first meeting should be finished sometime today.
Which of course everybody outside the USA does all the time ("Yankee" == "American" to nonUS....)
Guid sa' tha' queen...
Actually, it can cause the company's unemployment insurance premiums to go up (or not to decline as quickly as they otherwise would).
Typically not much money, but certainly some...
Cities do not charter corporations. States do.
I wonder why you think a US corporation needs the permission of the government of a town to do business within that town.
With very few exceptions, any place on the moon you put your solar power station will be in the dark two weeks out of every month.
What "service" do you think you can offer that your competitors can't?
Now sum up 20% of my income power by 30 years or so, in interest-bearing accounts, minus inflation and it's enough to retire off of around 55-60 if you are determined and have your debts paid down.
Interest-bearing accounts minus inflation is negative now (and it's only going to get worse), so raised to the power of 30 that 20% of your income is pretty damn little.
What would a company buy "Bad" beer?
Because Americans will drink it.
By the time they have the technology to dig it up they'll be able to figure out for themselves what it is...
And the editing is outsourced to Romania.
Surely not. They speak better English than that in Romania.I'm guessing Kyrgyzstan...
When I was an undergrad in CS four years back, there were girls on my course offering sex in return for completing their programming assignments. I never took one of them up on this offer. To this day I have no idea why....
Clearly I need to go back to school....[M]y Ph. D. adviser once offered to write my dissertation for $3,000, which at the time (being a poor student), was a ridiculous amount of money (and immoral to boot).
In retrospect, I should've taken a loan and paid him to do it, it would've been easier and far more ethical than actually writing it myself.
Easier I can see.How "far more ethical"?
Bad sex?
What kind is that?
This company is a *perfect* example of the economic potential for manufacturing in the U.S. It's a niche product, high quality, that won't have a market big enough for whatever low-wage empire to ever export the work. The address given on the website is a relatively small building, which according to the PVA's office is mostly warehouse (with a small office attached).
Manufacturing is most likely done in an ex-Lexmark plant somewhere in Mexico or the Far East....
What is it about cupboards that causes flan to collapse?