It Is A Fact Of Life That In Any Big City,

you will hear the cry of, 'got any lose change mate?' from someone on the street less fortunate than yourself, well the bit of lose change above is not what you want to give away, it is the new £1,000, 22 carat gold coin, the Royal Mint is planning to produce it to commemorate next year's London Olympics, weighing in at one kilo, it is not likely to be in every ones pocket, but wait a minute, one kilo of gold? that's worth about £40,000, that is the point although the gold is worth £40,000, that actual monetary face value is £1,000,

now what a great way to pay your staff, I remember many years ago a business man in Croydon in the UK paid his staff in gold sovereigns, each one had a face value of just over £1.00 but could then be sold for say £40.00, so a member of staff would pay income tax on the say £5.00 face value of 5 coins but then go to the coin shop and exchange them for £200.00 or so in real money, seem to good to be true? well in the UK after several long years the Inland Revenue finally closed that loophole,

but lets now go to the United States where in September 2007 the I.R.S. had a staggering defeat, the four-month trial centered around the family businesses of Robert Kahre who paid numerous workers for their labor with circulating gold and silver U.S. coins, and did not report the wages, he faced 161 federal tax charges, but was convicted of none, at the time the conspiracy theorists claimed the story had a total media blackout as it was a way of not paying taxes, but not one to give up easily the I.R.S. mounted another trail against Robert Kahre,

so on the 14th of August 2009 a federal jury found Las Vegas businessman Robert Kahre and three others guilty of several felony tax crimes, including conspiracy to defraud the IRS, tax evasion and hiding assets, Robert Kahre was also convicted of 49 counts of failure to collect or pay employment taxes, two counts of attempting to interfere with administration of IRS laws, four counts of tax evasion and one count of wire fraud, Robert Kahre faces up to 296 years in prison and fines of up to $14 million, Kahre also was accused of trying to evade income tax he owed for the years 1992 and 1993 in the amount of $1,000,453 and he attempted to conceal income from 1996 through 2005 by using straw buyers to purchase property in the names of his mother, girlfriend and stepfather, is there a lesson to be learned here? do not mess with the I.R.S.! unless you can learn form someone else's mistakes!