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I have said it before and i will say again, you have a mere little invested in this compared to the windfall of money that will come from it so why fret over the taxes one way or the other. God has blessed you all with this to prosper but more importantly to see just what you will do with it when it comes. He will be watching to see how many will do something good with a portion of their wealth and how many will take on an arrogant, selfish, i want it all attitude. The Bible says that a fool and his money will soon part for taking the wrong road.

 

There will be many that will skirt the system and the IRS will hang them out to dry. Penalties and interest will be enormous on any huge amount when they serve notice. Lets be honest people, i do not like paying money to the govt either for their wasteful ways but its the fact of life we live with.

 

It is better to pay your taxes up front, no matter if you have to grit your teeth and get off their radar. You will be finished with them unless you make money on that money. Your original amount will be taxed, finished, done and over with. You can sleep at night knowing that what you have left is yours and the piece of mind will be worth it..........If you choose to play like the big boys and figure a way to beat the system and they catch up with you, whatever you bought, whatever you saved, whatever you invested, whatever you hid will be taken by the IRS agents and you will live in poverty, not to mention what God will be thinking about you for not doing the right thing.......I am a firm believer that those who defy God will not get out of this world without suffering. Many will disagree with this and that is Ok, but you will remember on day.

This is why I doubled down on what I acquired and then some.I figure out a figure in which I can help others and still help my family as well and went from there.. figured it was easier to calculate at a fifty percent tax even and be on par with no worries.

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If you exchange your dinars for something that is worth more than what you originally paid for them (your basis in the dinar), you have recognized a gain, (which is the value of the new item you exchanged the dinar for minus basis), and therefore Income.  According to the IRS, ALL income is considered taxable, except for a few items, which the Dinar isn't one of. Planning to exchange it for another non-U.S. currency is stil going to cause you to recognize a gain and therefore it is taxable.

 

I highly recommend anyone that is worried about paying taxes to become a VIP member so you can learn how to lessen the tax when you sell your dinar.  :twothumbs:

 

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Hey everyone listened to Randy koonce's call yesterday it seems the capital gains tax has increased up to 20% for long and short term gain.  So be expected to pay that plus state tax if you have it.

I already moved to another state which does NOT have the state tax in advance of this.I refuse to give my old state any out of this as they already take enough from the county level all the way to the capital.

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I have said it before and i will say again, you have a mere little invested in this compared to the windfall of money that will come from it so why fret over the taxes one way or the other. God has blessed you all with this to prosper but more importantly to see just what you will do with it when it comes. He will be watching to see how many will do something good with a portion of their wealth and how many will take on an arrogant, selfish, i want it all attitude. The Bible says that a fool and his money will soon part for taking the wrong road.

 

There will be many that will skirt the system and the IRS will hang them out to dry. Penalties and interest will be enormous on any huge amount when they serve notice. Lets be honest people, i do not like paying money to the govt either for their wasteful ways but its the fact of life we live with.

 

It is better to pay your taxes up front, no matter if you have to grit your teeth and get off their radar. You will be finished with them unless you make money on that money. Your original amount will be taxed, finished, done and over with. You can sleep at night knowing that what you have left is yours and the piece of mind will be worth it..........If you choose to play like the big boys and figure a way to beat the system and they catch up with you, whatever you bought, whatever you saved, whatever you invested, whatever you hid will be taken by the IRS agents and you will live in poverty, not to mention what God will be thinking about you for not doing the right thing.......I am a firm believer that those who defy God will not get out of this world without suffering. Many will disagree with this and that is Ok, but you will remember on day.

Excellent post Heavy. Why worry about a taxable event that hasn't occurred. The tax code can change. Who knows what the POTUS and Congress will cook up. Personally I believe that we will make a profit from this investment. When and how much is a mystery. File your return pay your taxes and move on. Getting twisted with the IRS is not fun. I work in the accounting world and know firsthand what happens to individuals and Corporations that file false returns and evade paying their liability.  

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