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(Bookings): 7/5/12


Butifldrm
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* (Bookings): 7/5/12

July 5th, 2012 04:52 pm ·

[bookings] ok guys i’m going to post this for the last time, please do not ask me to post this any more. Makes about 7 times. Cnn was talking about paying taxes on money, and while they was talking there was money flipping thru this money changer, and i thought it was going to be the usa dollar, it was the 2500 NOTE

[bookings] 25,00 dinar note. I could not believe my eyes. But it happened, i mean within 2 seconds

justchecking] bookings Maybe it was a video snafu. [bookings] justchecking justchecking NOPE

[barb] SGD3 perhaps an RV instead

[dealdoctor] vic406 Recaps simply states it was heard on CNN. Go to Recaps now and it is in the top post. Not much detail

[bookings] justchecking justchecking nope they was talking about taxes being paid on this money.

[kord] bookings What did they say about the taxes?

[bookings] justchecking right before that, they said un was taking final steps to release iraq out of chapter 7.

[justchecking] bookings Who was the reporter?

[bookings] justchecking justchecking are u kidding me this was like 2 seconds. Wasn’t a 5 min deal. I had my eyes on the dinars, not the guy and gal.

U.N. Proposes Taxes on Billionaires, Polluters, Currency Transactions -- to Fund ‘Global Challenges’ Such As Climate Change

Currency Transaction Tax: A tax of 0.005 percent on all trading in four major currencies – the U.S. dollar, the euro, the yen and pound sterling – would yield around $40 billion a year for international initiatives. The decades-old idea of levying a small charge on financial transactions is sometimes called a “Robin Hood tax” since it supposedly taxes rich nations to benefit poor ones.

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It is also being reported on FOX business channel, that there have been New Taxes on capital gains in this new obamatax or obamacare that just went thru SPCUS. The little "o" has gotten his hooks in this RV now. It looks like a green light, all systems go for his relection, just like I predicted last summer that alot of people didnt like hearing at the time. Like that witch pelosie said you got to pass bill to find out what surprises are in it. Go Rv !!!

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could ya post it again :lol: hahahahahhha sorry butrifldrm,,,, i think this is part of that capital gains taxation they were hitting on first of last year ,,, everyone just knew the dinar was about too r.v. then also :blink:

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Capital Gains applies in our case as Art suggested. The net proceeds of our investment upon sale will not be treated as ordinary income. Another factor in determining our tax liability is how long we held the investment. Keep your receipts from the purchase of your IQD in the event you have to prove it up with the IRS.

I'm hopeful that the capital gains tax will remain as is at 15%. I will say that the elephants in DC will not allow an increase in Cap gains. On the other hand the donkeys are going to try to stick it to us. We shall see.

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Do You think this is the so called October Surprise?

Good question. It could be. The Democrats are all about raising the capital gains tax. I try to stay out of the frey with regards to politics and religion around here. Read and form your own opinion.

I'm an eternal optimist and elephant.

Let's put the donkeys in DC out to pasture in the next election. :D

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Good question. It could be. The Democrats are all about raising the capital gains tax. I try to stay out of the frey with regards to politics and religion around here. Read and form your own opinion.

I'm an eternal optimist and elephant.

Let's put the donkeys in DC out to pasture in the next election. :D

Don't now why you were negged, +1'ed ya..... Go Big Red!....... Go RV!

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Don't now why you were negged, +1'ed ya..... Go Big Red!....... Go RV!

No worries Sabbadude. Thanks for the +. Sometimes stalkers follow us around and neg our posts without merit. I choose to suck it up rather than complain to the Mods as some do. There is nothing worse than a wimp, IMO!

Go RV!

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Question about the whole taxing us on this investment......

Say it RV's/RD's or increases in significant value, such as 1 to 1

We go and EXCHANGE not cash out, our IQD for USD or whatever money it is that you use for your daily bizz...

Is there some sort of paperwork that we fill out that I don't know about?? I have exchanged currency quite a few times, some with a little bit of profit, never had to fill anything out....

So how is it that they will be able to tax us on this?

I don't have a bank account of any kind....if you have read my posts you know why.....if not, BANKS ARE EVIL!

Someone enlighten me and the other DV family members on this, be simple about it too, as I do not have a degree in finance. I am a web designer/multimedia person/bar manager....I know, quite the career path(s) I have taken!

Edited by GhostDawg
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Question about the whole taxing us on this investment......

Say it RV's/RD's or increases in significant value, such as 1 to 1

We go and EXCHANGE not cash out, our IQD for USD or whatever money it is that you use for your daily bizz...

Is there some sort of paperwork that we fill out that I don't know about?? I have exchanged currency quite a few times, some with a little bit of profit, never had to fill anything out....

So how is it that they will be able to tax us on this?

I don't have a bank account of any kind....if you have read my posts you know why.....if not, BANKS ARE EVIL!

Someone enlighten me and the other DV family members on this, be simple about it too, as I do not have a degree in finance. I am a web designer/multimedia person/bar manager....I know, quite the career path(s) I have taken!

Looks like you are flying under the radar Ghost. I don't have an answer to your question. My assumption is that if you are converting large sums of foreign currency to USD you will be required to provide a social security number and drivers license to initiate the transaction in the US. Tax evasion and money laundering will land you in Federal prison.

I'm sure that there are other methods to convert foreign currency outside of the US without tax implications. I'm not aware of them and would not share the information if I had it.

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Capital Gains applies in our case as Art suggested. The net proceeds of our investment upon sale will not be treated as ordinary income. Another factor in determining our tax liability is how long we held the investment. Keep your receipts from the purchase of your IQD in the event you have to prove it up with the IRS.

I'm hopeful that the capital gains tax will remain as is at 15%. I will say that the elephants in DC will not allow an increase in Cap gains. On the other hand the donkeys are going to try to stick it to us. We shall see.

Donkey's

:lol:
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Question about the whole taxing us on this investment......

Say it RV's/RD's or increases in significant value, such as 1 to 1

We go and EXCHANGE not cash out, our IQD for USD or whatever money it is that you use for your daily bizz...

Is there some sort of paperwork that we fill out that I don't know about?? I have exchanged currency quite a few times, some with a little bit of profit, never had to fill anything out....

So how is it that they will be able to tax us on this?

I don't have a bank account of any kind....if you have read my posts you know why.....if not, BANKS ARE EVIL!

Someone enlighten me and the other DV family members on this, be simple about it too, as I do not have a degree in finance. I am a web designer/multimedia person/bar manager....I know, quite the career path(s) I have taken!

Transactions under $10,000 are not automatically reported by the banks.

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Question about the whole taxing us on this investment......

Say it RV's/RD's or increases in significant value, such as 1 to 1

We go and EXCHANGE not cash out, our IQD for USD or whatever money it is that you use for your daily bizz...

Is there some sort of paperwork that we fill out that I don't know about?? I have exchanged currency quite a few times, some with a little bit of profit, never had to fill anything out....

So how is it that they will be able to tax us on this?

I don't have a bank account of any kind....if you have read my posts you know why.....if not, BANKS ARE EVIL!

Someone enlighten me and the other DV family members on this, be simple about it too, as I do not have a degree in finance. I am a web designer/multimedia person/bar manager....I know, quite the career path(s) I have taken!

I read somewhere that in obamatax there is currency transation tax 0.005 per transaction dont know how true this is but thats ehat is being reported. :(

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Ghostdawg::: When you exchange your dinar for any other form of currency it is a sale and any profits are taxable...You will need to pay that tax within the next reporting period or pay a penalty AND interest. If held for less than 1 year it is taxed as Ordinary Income. On $1M would be 39% ...Otherwise 15% this year .. they say 20% in 13.

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