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Raising the Iraqi dinar to the forefront again


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11 minutes ago, Shedagal said:

Several years ago, there was a DV member named ExecConsult who is a tax attorney.  There was much discussion as to whether the RV would be taxed as cap gains or ordinary income.  He deemed it was going to be ordinary income, although he had written the IRS to challenge that.  Here is one of the threads.  The first post is someone thinking it is cap gains.  ExecConsult replies midway on the first page. 

 

 By all means, if you are not VIP/OSI, please use a CPA or tax attorney to get your information. 

Shedagal, Truly appreciate you bringing this excellent past discussion back to life.   ExecConsult brought some excellent information to DV back in the day...:D

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5 hours ago, ladyGrace'sDaddy said:

If you bought another million that would run you about $1000.00, but if you spend $50.00 bucks on a three month membership into VIP you would save tens of thousands in other ways. And yes they are all legal. And in that time frame you could do some studying and see for yourself what VIP has to offer, something that I've yet to see anyone complain about. 

I'm tempted to buy a me membership but being in OZ I feel I would mostly be aim at US investing..

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31 minutes ago, tigergorzow said:

Shedagal, Truly appreciate you bringing this excellent past discussion back to life.   ExecConsult brought some excellent information to DV back in the day...:D

Excellent read.  Thanks everyone for the input, specially to ExecConsult.

I know that not all here are retired, some are, some are not.  I am.

My take on it all is based on one question;  Why cash it all in at one time?  Yes, I know about the fear of a short window of opportunity to cash the Dinar in but I doubt that will be the case.  Even at 1.2 it is still going to take Iraq some time to stabilize, most likely years if not another decade.

Cash out to the extent your bills are paid off.  Maybe you build a new house, maybe you continue to live in the one you already have in a neighbor hood or area you love. Why leave family and friends behind?

I think I'm safe to say that 'un-transacted or un-converted' Dinar sitting in my safe will not be considered as capital gains until such time as I do convert or exchange them. I'll do that as the need arises; when it's time to have the car fixed or go on another Senior Cruise I'll cash some in and pay the piper.

GH

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24 minutes ago, NoviceInvestor said:

I'm tempted to buy a me membership but being in OZ I feel I would mostly be aim at US investing..

I believe it can be an advantage to anyone.  I can not go into to much detail (check VIP). Big things are that

 many of your expensive are paid for and oppertunity to other business internationally. I can HIGHLY recommend it, it is worth every cent.  

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2 minutes ago, ChuckFinley said:

I believe it can be an advantage to anyone.  I can not go into to much detail (check VIP). Big things are that

 many of your expensive are paid for and oppertunity to other business internationally. I can HIGHLY recommend it, it is worth every cent.  

I need to see if Adam will finally let me in think I will throw him an email

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7 minutes ago, Shedagal said:

39% is fed tax, then you have state tax (up to 10% or so), and then that unknown percentage of spread (both CBI fee and bank fee).

If you have lower denoms then you just go to any casino in Vegas and cash in small notes for under $1000.00 US......at  0 % tax rate

Boy that would be a fun weekend

 

Edited by SocalDinar
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