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Adam Montana

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Posts posted by Adam Montana

  1. 3 hours ago, lost one said:

    Still waiting for the update on Sunday....Himmmm...Must be nothing happening or your Sunday was a little more active than you thought.

     

    I admit it - it was! I ended up with unexpected company and the entire week got thrown off.

     

    Sorry about that!

    • Like 1
    • Thanks 2
    • Upvote 5
  2. 5 hours ago, rayh56 said:

    "You are correct, but the most important part of the member's post is the fact that they didn't get the email. Looking at their profile, I can tell that they are still using an email address here that we have NEVER been able to fix... COX. They are notorious for blocking all kinds of emails, regardless of how many times their customers call to tell them to stop!"

     

    I will change my Email address to a Yahoo account.

    Thanks


    Yahoo is better than cox, but gmail is better and has always been the only email provider to consistently be reliable. Also the only preferred and suggested email for communication with us here. 
     

    To each their own, though. :shrug: 

    • Thanks 2
    • Upvote 3
  3. 3 hours ago, Hearts said:

    Great job Adam! Love the idea of the TIN, which I immediately took advantage of this opportunity.

     

    You and a few others! It's something that more than a couple members were very excited about. I'm not surprised you also see the value in it, having known you for these years. 

     

    :twothumbs:

     

    6 minutes ago, yendor said:

    I hit submit before I finished. What I meant was the VIP!" rel="">VIP section has the same update as the email update.

     

    You are correct, but the most important part of the member's post is the fact that they didn't get the email. Looking at their profile, I can tell that they are still using an email address here that we have NEVER been able to fix... COX. They are notorious for blocking all kinds of emails, regardless of how many times their customers call to tell them to stop!

     

    :shrug: 

     

    I added the link to the first post here, just the same. I can tell people to "switch to gmail and you'll always get my emails!" but it's up to the member to make the change.

     

    🤷‍♂️

    • Thanks 2
    • Upvote 3
  4. 1 hour ago, BigJake said:

    I asked this before but could not find an answer.  If it rv’s at $ .10 could we cash in part of what we have and exchange the rest for lower denominations?  If so wold we have to pay the spread and/or taxes?

     

    I think pretty soon it's going to be mandatory to answer the question first...

     

    "Have you read the Cash In Guide"?

     

    I'll watch for your answer :twothumbs: 

    • Like 4
    • Haha 3
    • Upvote 2
  5. 8 hours ago, screwball said:

    its simple you exchange into USD you pay tax, if you gift money to a friend or relative they do not pay tax....

     

    That's not correct. 

     

    8 hours ago, screwball said:

    what happens if you transfer IQD into a foreign currency account? in another currency? is this a taxable event?

     

    When you profit, that is generally taxable. 

     

    8 hours ago, screwball said:

    whenever you exchange currency (IQD) to another you (AUS or USD) you have created a taxable event, this means you pay tax the longer you have it the less tax! correct me if I am wrong!

     

    With some investments there is a difference depending on how long you held the investment. Foreign currencies are a bit of a wildcard, and our specific situation falls under the "hope for the best" guidelines and regulations.

     

    Most likely the profits from a major revaluation of this currency will be treated as normal income, and taxes will be owed accordingly. 

     

    Tax rate Single Married, filing jointly Married, filing separately Head of household
    10% $0 to $9,875 $0 to $19,750 $0 to $9,875 $0 to $14,100
    12% $9,876 to $40,125 $19,751 to $80,250 $9,876 to $40,125 $14,101 to $53,700
    22% $40,126 to $85,525 $80,251 to $171,050 $40,126 to $85,525 $53,701 to $85,500
    24% $85,526 to $163,300 $171,051 to $326,600 $85,526 to $163,300 $85,501 to $163,300
    32% $163,301 to $207,350 $326,601 to $414,700 $163,301 to $207,350 $163,301 to $207,350
    35% $207,351 to $518,400 $414,701 to $622,050 $207,351 to $311,025 $207,351 to $518,400
    37% $518,401 or more $622,051 or more $311,026 or more $518,401 or more
    • Like 3
    • Thanks 2
    • Upvote 2
  6. The test text will not go out before I send an email announcement and also post it here in VIP. Also, you will need to initiate it.

     

    This may not be done before the end of the week - my programmer/designer is still dealing with some issues and I decided to just hold off and wait for now, since the current text service is functioning perfectly as it is.

     

    This is coming, don't worry! But also - thanks for your patience. It will be worth the wait.

     

    :tiphat: 

     

     

    • Like 4
    • Thanks 5
    • Upvote 3
  7. Jacks, welcome!

     

    Those are fair questions, we all asked something like that at one time. 
     

    It’s also kind of a “how much wood could a woodchuck chuck” question :lol: 

     

    Nothing in life is guaranteed. If you want to make God laugh - make a plan for yourself. ;) 

    • Thanks 3
    • Upvote 1
  8. 14 hours ago, KristiD said:

    if your dinar ended up being worth, say, US$10 million after the RV, you could actually gift half of it to a charity and get a US$5 million write off on the other half you cash in for yourself.

     

    Great post KristiD! 

     

    One clarification on this part, because a lot of people misunderstand it. Charitable contributions don't work as generously as that in most cases. The deduction actually applies to your taxable income, not your tax liability.

     

    It's still beneficial to use the deduction, if you choose to give to charity. Here's an example of how it works (this isn't the place to get too deep into tax rules) - I'm using head of household for simplicity.

     

    Screen Shot 2020-07-18 at 7.21.22 AM.png

     

    Giving $5 million to charity didn't reduce our taxes by 5 million - it reduced our taxable income by 5 million.

     

    :twocents: 

    • Thanks 4
    • Upvote 5
  9. Slight correction - EO 13303 gives US citizens the "right" to invest in things Iraqi, so it is at least partially "documented".

     

    But there is no way we can reasonably expect the majority of those who missed out to "just be happy for us". 

     

    They will come with their hands out. The government will come with their hands out. 

     

    Luckily for some of us, there are options. VIP is a start, and OSI is an incredibly powerful and diverse way to protect yourself from those hands that will be digging in your wallet.

     

    :twothumbs: 

    • Like 3
    • Thanks 7
    • Upvote 2
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