So Accurate Refining Services

Gold Refining Forum

Help Support Gold Refining Forum:

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

skeeter629

Well-known member
Joined
Jan 22, 2009
Messages
121
Location
Show-Me State
I have done business with Matt at SoAccurate Group for over a year now. This week, I had the opportunity to visit the refinery in New York. From the great facilities to the awesome staff, it was an amazing experience. Matt is very knowledgable, helpful, and always willing to answer questions. I highly recommend using them to sell your metals to. They have great terms and pay very quickly. Fournines gets 5 stars.

Matt's forum user name is Fournines.

Their website is http://www.soaccurate.com/

If you contact him, please tell him Skeeter sent you .[youtube][/youtube]
 
skeeter629 said:
I highly recommend using them to sell your metals to.
I am to assume that you "sold" your material to them ,and did not pay them recover/refine it?
What material did you go there with? Escrap,jewelry,or something else?
 
mic said:
skeeter629 said:
I highly recommend using them to sell your metals to.
I am to assume that you "sold" your material to them ,and did not pay them recover/refine it?
What material did you go there with? Escrap,jewelry,or something else?

I wouldn't go there and start this mic, you are the ony one I know of that has be dissatisfied with any deal that has been offered by Matt to members of the forum.
 
Barren Realms 007 said:
I wouldn't go there and start this mic, you are the ony one I know of that has be dissatisfied with any deal that has been offered by Matt to members of the forum.
My post had NOTHING whatsoever to do with that!
You are assuming things,that are not true.I would have asked the same questions had the refiner been someone else.And I am sure,I am not the only member that wanted to know the answer to them.You are trying to start something out of nothing,I would do well to keep false accusations to yourself.
 
I agree with you skeeter. I sold my first button that I had posted along with another smaller button and also an amalgamite button that I had (before I found this site) :lol: . Matt treated me very fairly in a timely manner, keeping in touch with throughout the entire short process. I feel like I got an extremely fair price, I will definetly go back to him with future business. I am so glad that you and glorycloud sent me his way. But I did forget tell him that you were one of the members who recommended him. Sorry I will let him know next time I talk to him. Hopefully I will be able to make it to his facility for a tour some day.
 
I just finished my first transaction with So Accurate this afternoon and I couldn't have been more pleased with how they handled things. Matt was very communicative and friendly, I got a good price for the material, and they paid very quickly. I would happily do business with them again.
 
Has anyone dealt with this company lately?

I haven't been able to work on my material for a while, so I've been thinking about depopulating the boards that I have and shipping the components to a refinery.
 
I have sold all my refined gold to Matt at So Accurate Refining.
Excellent customer service with quick turn around for payment.
I highly recommend them.
 
Do note that Fournines last visited the forum on Feb. 18, 2015. I'm not implying anything positive or negative by that, just that you probably won't be able to contact him here on the forum.

Dave
 
glorycloud said:
Excellent customer service with quick turn around for payment.
I highly recommend them.

Barren Realms 007 said:
You can't go wrong in dealing with Matt IMHO. He has always treated me right and gone out of his way to help out when he could.

Good enough for me, it sounds like you guys haven't had any problems with this company, and seeing that Matt "fournines" is a well respected member here from the threads I've seen, along with what everyone's saying about him, I'm sure that I'll have the same great service as you have. Thank you for the information. :p

FrugalRefiner said:
Do note that Fournines last visited the forum on Feb. 18, 2015. I'm not implying anything positive or negative by that, just that you probably won't be able to contact him here on the forum.

Dave

I noticed that while searching for information on here about the (So Accurate) refining company, I was going to message him, but saw that he hasn't been here since a few months before I joined, so I never got to speak with him on here.

When I called the company, I spoke with whom I believe was Larry. He sounded very knowledgable on the subject. I explained that I had already partially stripped the boards etc, and we talked about how it would be cheaper for me to finish de-populating them, then ship the components over.

All I need to do now, is finish up, check the weight, check shipping costs and send it over. Then figure out what to do with the depopulated boards. I may process them myself, or continue saving them up until I find somewhere that will take them, since none of the scrap yards around here will.

Since this is mainly a hobby, I've been sitting here separating the electrolytic capacitors "aluminum cans", and cutting the legs off of all the transistors/diodes or other items (none of the legs are gold plated anyways), to save on shipping and acids for the refinery to process everything. Basically "high-grading" it as much as I can.
 
glorycloud said:
I have sold all my refined gold to Matt at So Accurate Refining.

I can't speak to anything else that they do other than my experience when they purchased
my refined gold. They may be great at other things as well but I have no knowledge or
experience with other services that they may provide.
 
Well, so much for that idea. They can't process my material unless I have a business.

I asked about Matt and the guy I spoke with said he doesn't work there anymore. Apparently he left to go into real estate.

Once I figure out a total weight, I'll most likely be trying to get a toll refine if someone lives nearby.
 
Just start a business, all it takes here is $8 registration fee at the county register of deeds. Viola, you're a business.
 
rickbb said:
Just start a business, all it takes here is $8 registration fee at the county register of deeds. Viola, you're a business.

I'll check into it sometime, thanks for the info.

Actually now that I think about it...

Business license

Isn't there different tax forms, deductions, net/gross, profit/loss, keeping track of everything down to the $0.01, which would include having someone work for you or helping you, how many hours, pay rates, etc, etc. Plus, since the scrap is usually free, can I also deduct the cost of gas, parts for your vehicle, tools, time and everything else like safety items "gloves, gas mask, filters"

What if you or someone that might help you is getting SSI or disability? Will that mess up their benefits? Are precious metals considered counted or uncounted assets? How much can you make before they lower the benefit amount, or drop medicare? What if you have your children or niece/nephew or friends kids help? What about workman's comp if someone got injured while helping you?

I came up with that many questions about it within 2 minutes, I'm sure there's many more haha.

Then again, would any of these questions even matter since this is just a "hobby"?

-----------------------------------------------------------------
Processing everything myself

Process everything, properly dispose of the waste, done.

-----------------------------------------------------------------
Toll refine

Ship material or drive over, have the person process everything, done.

I've always wanted to go into business for myself, but with all the questions that go with it, it sounds like it would be easier to process everything myself, or get a toll refine :lol:
 
Having started a small business that is a precious metal refinery, I can totally commiserate with you there greiko! Be prepared to be regulated like a bank, inspected like Dow (for the EPA/OSHA), and try as hard as you might, you will still have customers so accustomed to getting shafted, that they presume you do it too (even when you don't!).

It's not a hobby per the IRS if you're making taxable income.

As to your questions, I can answer many of those for you, having done it but really, rather than finding it all out on your own, this is a situation where a good lawyer and a good accountant, become your good friends.

Lou
 
Different locations have different rules on what is a business. Just start a part time, home based business as a sole proprietorship, doesn't have to be a refining business. It can be a e-scrap collection business, that's accurate enough.

Just Joe Smith LLC will work. that's all the people you are dealing with need, a licensed business to take product from to refine for you. The smaller and simpler you keep it the better. They just can't have their records show they are taking in work from an individual.

You won't need elaborate book keeping, you do need to keep good records for your own sake, but not required. I have had several over the years, I kept all the books on a PC with Quick Books, let a CPA do the tax returns and it was only couple of hundred dollars a year extra expense. Some years I made money and had to pay extra at tax time, others I lost and got bigger refunds.

No different really than setting up a business selling used cars from home, or Amway, Avon, etc.
 
Aye, in many ways it's as difficult to run a small business as you choose to make it. Some things to consider:

A sole proprietorship lives entirely in your 1040 tax form. The business = you. Any net income (gross income minus expenses) is taxable, and can impact your Social Security or Disability income. As Rick said, sometimes you profit, sometimes you lose money.

As Lou said, we all have things we have learned (my business has been gems and jewelry, I'm still about as new to refining as you are), but we can only relay our experiences. An accountant and a lawyer can tell you what will fly in your state. That being said...

The formal test for the IRS for "hobby" vs "business" is if you haven't profited in at least three of the last five years, you shouldn't call yourself a business. Certain writeoffs only apply to businesses, and you can't have 'em if you're just doodling around buying toys ;)

As a business, you fill out Sched C; as a hobby, you just enter your net income in "other income" on your 1040. Note, however, that you better have decent records--especially if you regularly report a loss.

It may be possible for you do fill out a DBA form (Doing Business As) so you can have a checking account with your company name on it, but you really should be backing that up with proper reporting to the IRS.

Given all the above, it may be possible for you to get a checking account in your "business" name (e.g. "Joe Smith DBA Grelko Enterprises"), and still report as hobby income, to satisfy a refiner, but that's iffy at best. Talk to dudes in suits to be sure you won't get in trouble. There are worse things than losing a portion of your fixed income--such as audits and tax liens.
 
Another thought: I don't know how your benefits work in PA, but around here at least, your assets won't affect your earned income, other than the fact that as a business, you may have to pay property taxes. When determining if you're making too much money, they're looking at your [net] income.

I don't know of any caveat about "you can't get SSI or Disability income if you have too many assets." The exception would be if those assets generate income (e.g., interest earned on money in the bank)--but again, it's the income gained that matters, not how much in assets it took to generate it. You could have a house of solid gold and it wouldn't affect your Social Security income--as long as you didn't sell it at a profit.
 
Back
Top