Dinar Rumor 52% What????

[ronscarpa]

Correct me if i'm wrong, but say I make $400,000 or the RV I think I have to claim that as income therefor I have to claim captial gain and it has to be taxed?

Patzja80,

Any money you earn as PROFIT from any RV/RI is called "INCOME". That is - total cashout counting all expenses, minus what you paid when you purchased them. Now, it is either a Longterm (over one year - with proof) Capital (as in money) Gain (15%) or a Short Term (less than one year) Capital Gain (based on your total income up to a max of 35% currently). You have to check with your accountant, but there can also be an alternative minium tax that would increase the amount of taxes you pay if yopu do have Short Term Capital Gains.

Be happy when we make our Profit. Pay taxes and move on - don't fret over what we cannot change. However, have a GREAT Tax Attorney or CPA...!

Like my Tax Attorney says, "Pay the IRS every penny you legally owe them, but not one penny more."

I hope this helped you.

RON

[lost one]

how would any body know how long you

[lost one]

how would anybody know how long you had the dinar? thier is no receipt.

[ronscarpa]

how would anybody know how long you had the dinar? thier is no receipt.

If you bought them from a Dinar Trader you should have a receipt. If not, you can't prove when you bought them. Then, you would have to fight with the IRS if it ever was questioned - and I'm sure large sums WILL get their attention. Guess who will win and who will lose...??? If you have a tax attorney who can go to bat for you, something can be negotiated. When I bought from others I always asked for a receipt. Then I can prove what rate I paid as well. Otherwise the IRS might assume you got them for $855/million.....get the point.

Hope this helped.

RON

[gozilla]

Think of it in terms of how one would right off mileage for tax purposes. It is up to that individual to keep a mileage log in the event an audit occurred. Similarly, in this case, you probably got a packing slip if you purchased your dinar from a dealer, and that will have the amount and the date. If not, you should go see a notary and have a document prepared that shows that days date and time and the amount of Dinar. Keep in mind that if you wanted to use this method, the clock starts today, even if you purchased the Dinar 4 years ago, unless you have some other method to show proof.

[BR549]

Could be, unless you cash in a little each year to keep you under the radar and keep the rest invested.

[swlsal]

Or....maybe one could cash in just a small amount, about 100,000 dollars worth, pay the taxes and vacation someplace like the caymen Islands or some other country where we could fly under the radar????

[Lightray]

Patjza80, No it's not income it's capital gains tax, different kind of tax, on investments

[slatesrh]

change we are getting change he will show you how to change a dollar into 50itee cent

[renzo]

Ron you know your stuff. Thank you!

[slatesrh]

thank you and right on

[moneybags]

I vote that we take all of the democrats including the president and stick them on an iceberg in the middle of antartica and they can run it however they want , and then we go down to our local hangouts and pick some real people to get this country back on top. I will go to a different country before i pay 52% tax on anything.

[mdddek6]

it's the "hope and change" tax from our president.

if you clear 300,000 to 4000,000, be bless and move on and stop talking about the health care bill american's have been rich and alot of the poor have been poor be glade that you can keep five dollars in your pocket.

[Captjohn]

RV...the next chapter in the War on Prosperity. How dare we try to profit by buying dinar and making money! We should just give it all to the government....they know better than us how to spend it. Just look at government efficiency....the Postal System....Social Security.....Medicare......what, they're all losing money?....oh, never mind. You gotta love hope and change.....you better hope they leave you with some change after the RV!

[Bigworm0924]

Check your "gifting" amounts as well. You'll be able to gift some of that to spouses and children tax free. I can't see 52% being accurate, even with VA state taxes, 40% is probably the worst I'd be hit. And the new HC bill won't affect your taxes immediately and they won't, as mentioned above, be high enough to push us up an additional 10 pts.

[Nate]

Wow so you folks now think the HC bill is to take your money? WOW! So let me get this straight, our military ( the US gubbamint) went over to Iraq and spent billions (trillions?) fighting the war and you people are mad becuase that same gubbamint wants to take some of our profits?

Unbelievable, I mean how much of a millionare do you have to be? Do you know how much a single Apache attack helicopter costs to operate? I don't but Im sure it's a lot. Whatever you tax cheats are thinking of doing forget it, uncle sam will be one step ahead of you, what do you think Bush meant when he say Iraq itself would fund the war? And BTW you all should read up on the Patriot Act, that was put into place by Bush (for good reasons). But that law designed to stop the flow of cash to terrorist will make sure the gubbamint knows what we are doing with our dinars.

I too will hire a professional to make sure I legally get to keep the most I can but you folks need to slow your roll, like someone else said, take your RV pay your taxes and move on.

[Rowdy01]

My CPA said that the money earned from the sale of a foreign currency would be taxed at the standard tax rate if sold within 12 months of the date purchased, and at the capital gains rate if held over 12 months. The tax rate would depend on your income plus the amount of Dinar you sell if held less than 12 months.

[paj1985]

hi does anyone know the tax issues in britain,coz im dealing with pounds and everyones talking dollars. help would be appreciated.thanks

[truckerron49]

The tax problem still has to be addressed by each individual in his or her own state. This is the reason that for some time down the conversation has been telling all to not just go forward with out professional advice, whether it be from Adam or someone else..

[outback7]

You are right on......the other people who posted on this have not their research.......Oh, the 3.5% Only comes in at year 2013.......thank you for your post

The maximum long term capital gain tax for 2010 is 15%. The short term rate is whatever your regular income tax bracket is. Maximum income tax bracket on regular income this year is 35%. The health care bill had a provision for an tax of around 3.5% which will be applied on high earners over $250,000 for a couple or $200,000 for an individual. I believe this is an additional medicare tax and that investment income will count towards the amount taxed.

[alston82]

People are so scary wow

[Dryden01]

The taxes will significantly increase for everyone, including the poor and lower middle class and you need only Google 2011 capital gains rates to see it. Depending on your general tax bracket and whether or not your state has an income tax, there will be a surcharge "for medicare" placed on capital gains. Thus, if you are in Califoprnia for instance, your tax could amount to as much as 54%. The increases starting in 2011 will be substantial so the Washington D.C. socialists would probably like to see the RVRI occur after the first of the year in 2011 to maximize their tax confiscation amounts.

[mattew601]

I may be totally incorrect on this but I thought if you have held onto your dinar less than a year then its considered under income tax and over a year capital gains.

[willie]

The more I have looked in to all this maybe I have decided trying to hide money is wrong and highly illegal there are more legal ways to go about this I have been looking at offshore money market accounts that can not be touched and ofcourse they can not touch an IRA.... so I could easily keep this money made from the RV from ever being snatched up by our greedy and corrupt goverment.... Look how well they handle all the money now S.S. system is a mess the postal service is a train wreck.. take my money to bail out another corrupt giant that they have they all inbedded with

[lanispaul]

The first link shows capital gains tax through 2010. The second link is a good article on the taxes that the Health Care law will impose.

http://www.taxfoundation.org/taxdata/show/2088.html

http://news.yahoo.com/s/ap/20100319/ap_on_bi_ge/us_health_care_taxes