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ronscarpa

Wednesday Afternoon Guru Opinions @ 2:50 PM EST - 2/27/2019

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2-27-2019   Newshound Guru Adam Montana   I'd say things are still pointed the right direction.  OIL took a tiny step backwards, but still tracking for a win if my target of $60 is correct. In addition to what I'm hearing from the other side of the pond, and what my own experience and insights conclude, I still believe that $60 mark is where we want to be headed. Hitting that price, on the current trajectory, is solid evidence of stability in the markets and will be reassuring to the CBI so they can take some bold steps. There is a low rumble off in the distance that sounds like an HCL thunderstorm,so we'll keep an eye on that.

 

 


2-27-2019   Intel Guru Bruce   There was a meeting in the White House, let’s call it that, with 5 key people one of which was our President...Documents were signed. At that point things were put off motion in a very real way... Since then what has happened is the Dinar came out. It was rolled out and it was officially recognized in- country...now today at a rate of $6.73. (More B.S. - there's no way any numbers are found anywhere other than on the CBI website. Only once revealed by the CBI will it be found anywhere else.) :confused2: RON That is an in-country rate for the dinar. That is pretty strong. Our rate here on our front screen could be higher than that... substantially higher... Also the Dong was a little bit slower. It came up Sunday afternoon... It started and it was coming a little lower than it had been but it is still moving in an upward direction. So we can’t say it is not going to get back up to where we said it was...(post 1 of 2)... 

2-27-2019   Intel Guru Bruce   I have heard timeframes. We try not to call it...but I feel that we are down to the final couple of days for us to get started...From every bit of information I have gotten some people have it within 24 hours. Some have it within couple of days. I have specific times when I am supposed to be notified...We will see how they come thru and what happens.  ...we are right smack in the middle of this right now. It might be just 24 hours to 48 hours before we go. So we are right there.  ...Hang in there a few days longer and you guys will be golden. I know you are excited and I am excited by it...(post 2 of 2)... :confused2:

 



2-27-2019  Guest Guru BobTheTaxMan   It does not qualify [reference post 2] …I’m going to make it real simple for you.  My research has shown this…It’s going to be treated as ordinary income and that’s that.  Now, what would happen if you elected to do it as capital gains and file your return?  Here’s what will happen…if you are incorrect and it comes back it will take two years before you hear from them.  The amount of penalties and interest that is going to be accumulated over that two year time frame is…going to be big.  So you have a choice.  On my side I tell people treat it as ordinary income.  Yeah you’re going to pay more taxes.  That’s true you’re going to pay more taxes on it but I do know this much, within 3 years, because you have three years to amend that return to get money back, within three years somewhere along the line someone is going to get a Letter of Definition from the IRS that definitively says this is how we’re taxing it...and/or there might be rule changes in the IRS that converts this from ordinary income to capital gains.  That might happen.  I’ve seen it before....(Post 3 of Many).....Following are Posts 1 & 2 from yesterday for continuity and those who may have missed them.

 

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2-26-2019   Guest Guru BobTheTaxMan   For those of us who have been riding this cotton picking train of the dinar for so long you couldn’t get a better tax opportunity than we have now.  It’s just absolutely freaking amazing what we have.  The new rules brought in under the Trump Administration give us so much leeway and so much opportunity to be able to save on taxes, to share this with everyone we love, less consequences.  The whole tax planning game has changed immensely because of the changes in 2018  and 2019…As Paul Harvey used to say, “Here’s the rest of the story.”  There are some things about the IRS, particularly those who come into a lot of money in a hurry that have certain triggering points.  I’ve got three of those I want to talk to you about...(Post 1 of Many)... 

 

2-26-2019  Guest Guru BobTheTaxMan    1.  I have had a lot of people send me email saying, “ This person is saying this is going to be capital gains and NOT be ordinary income.”  I’ve even been sent long convoluted processes someone has created for being able to move money in different ways so that the categorization was redone.  I’ll tell you from my own studies, one of the things when I got into this thing over a decade ago…I spent a lot of time researching it.  I contacted Several of my financial advisors who worked with their tax attorneys.  I got the leading CPA of the east coast who deals in Foex currency exchanges and his research came up with the exact same thing that the attorneys came up with.  And that is there are two ways that people might misconstrue that this is supposed to be taxed as capital gains. I can tell you right now from the research they did and my own research the dinar does NOT qualify...(Post 2 of Many)... 

 

 

 

Edited by ronscarpa
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Reference Bruce Post 1 of 2, above  (In-country, a Dinar is a Dinar. Only internationally will a Dinar have a value against other currencies).

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No such things as front and back screens!  There are no 800 numbers except to another con man!More guru poo rue!! Sorry to pop bubbles!

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