When we cash in, how much does IRS get???

[SgtFuryUSCZ]

***///

 

EXACTLY, HEAVYD...!

 

the slick commie has put so many theft programs in place right under our very noses.

 

and everybody is scared to say anything for fear of being outed for their own party's minor discretions and/or losing their jobs that they've managed to hang on to and gorge their own little wallets from.... 

too stupid, apparently to do anything else in life but steal from their constituency.....

 

but this administration is perpetrating one of the largest heists in American history - ever.

[Nelg]

IF you cannot or do not establish an OSI as is suggested by Adam, then try the following: 

1.  Establish a Foundation or Trust with a portion of your money.  How much depends on your comfort level.

2.  Move to a state with no income tax. (How much is it worth to stay where you are now?  Check state tax rate.)

3.  Plan your charitable giving to offset what you would be giving to USIRS.  (Churches, 501c3 Organizations, etc.) Make sure you know HOW the money is being used by the charitable organization.  Or establish an instrument (annuity, insurance, etc.) that will generate an continued flow of cash to the charity each year  ($500,000 at 3% = 15,000 a year). 

 

These things might help just a little, but one of the best ways is to do what Adam suggests with an OSI.

 

Another thing that needs to be considered is the protection of the VALUE of your $$.  If the USD is devalued by 50% in the next 5 years, how much will your $$s be worth?  50% less, of course!  Unless you find a place to secure the value, for example, Land, fine art, rare coins, metals, etc., that will generally go up (gold ?) in value. Later, as the USD recovers, you can sell the property for increased value.  Just a thought. 

[goldorsilver]

Its none in the uk

[SgtFuryUSCZ]

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A Big thank you, NELG.... excellent post, Sir!

[Leigh2]

What ever happens, be glad you bought the Dinar. If you are taxed so be it. Try to hide it improperly and the"Kings Men" will find you.

 

Remember the Hitler's SS men?

[rulesforrebels]

I'm not sure whether this is reported as income or not but any currency exchange or bank is required to report amounts over $10,000 whether your taxed because of those reports I dont know

[stealthwarrior]

Well we don't always play by the rules,do we sgt?there is always a way to get what you want.just look at the IRS.there is soooo much to say but this is not the time or place to do that.I wish nothing but the best for my brothers here.the future is bright.

[automag]

Read IRS publication 525 page 33. Foreign Currency Transaction -  If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you do not have to include that gain in income unless it is more than $200, report it as a capital gain.

 

Under the American Taxpayer Relief Act of 2012, long term capital gains & dividend tax rates are increasing from 15% to 20% for singles earning over $400,000 and couples earnings over $450,000. Additional changes include Individuals making in the $36,250 to $400,000 range will see their capital gains continue to be taxed at a 15% tax rate. Meanwhile, earners in the lowest two income tax brackets will pay 0% on investment income.  In addition, the new IRC Section 1411 3.8% Medicare surtax on net investment income, which includes capital gains, results in an overall rate for higher-income taxpayers of 23.8%

 

Sweetgirl1956 is correct. Read Publication 525 just like she stated and it tell you anything of a profit over $200 and you have to report it as capital gains........However get you a tax lawyer and verify it in order to protect yourself. You will feel better in the long run. Sweetgirl1956 don't play and she is smart so heed what she said. Plus Obamacare will cost you more as the Supreme Court RULED it legally a tax. 3.8% was the last I saw and regardless of your politics it's legal and you will pay it.......There has been reports on various forums of no taxes and I myself have heard this numerous times from different people. I even know that various departments of the IRS have made the case for no tax..........Don't count on that and again consult a legal Tax Authority or beware. I hope and pray this is also correct at 23.8% as I live in Texas with no state income tax and actually I believe Sweetgirl1956 but I am still gonna get legal advice and protect myself and you should as well.

 

Don't make statements on a public forum because remember anything you say can and will be used against you in a court of law....and you better believe that cause they will. Skip your political feelings cause when dealing with the IRS they won't care.........This is strictly business and your politics won't mean a damned thing when dealing with them and THEY HAVE GUNS and THE LAW IS ON THEIR SIDE. If this is to hit.........It's ALL business at that point. Pay your Taxes. Stay out of trouble.......Good Luck. Thanks SWEETGIRL1956.

[chess]

Read IRS publication 525 page 33. Foreign Currency Transaction -  If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you do not have to include that gain in income unless it is more than $200, report it as a capital gain.

 

Under the American Taxpayer Relief Act of 2012, long term capital gains & dividend tax rates are increasing from 15% to 20% for singles earning over $400,000 and couples earnings over $450,000. Additional changes include Individuals making in the $36,250 to $400,000 range will see their capital gains continue to be taxed at a 15% tax rate. Meanwhile, earners in the lowest two income tax brackets will pay 0% on investment income.  In addition, the new IRC Section 1411 3.8% Medicare surtax on net investment income, which includes capital gains, results in an overall rate for higher-income taxpayers of 23.8%

 

THANK YOU.....GOOD STUFF!!......now, never been happier than to be a semi-retired eccentric pauper!