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Dinar Taxes - Attorney Breaks It Down


ExecConsult
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Mark,

I am an estate planning attorney in a boutique firm. My partners and I agree with your analysis of Sec. 988, and we have advised our IQD clients that the gain will be treated as ordinary income.

My question is why you think that the gift of post-RV IQD to a charity will be treated as a contribution of Capital Gain Property that entitles the taxpayer to a deduction equal to the fair market value of the gift. If the gain on the IQD is treated as ordinary income, the deduction should be limited to cost basis. I hope you're right and we're wrong.

Lee

Thank you for the question. The reason I have posted that in the past is because I had not though it through and am not experienced enough to have spotted the issue immediately. I have very limited experience dealing with contributions to charitable entities of any property that is not Capital Gain Property. When the dichotomy first occured to me I stewed over it for hours. This is what I came up with:

The character of the property hinges on the intent you had when you purchased it. If you intended it for investment, then you have expenses that would qualify for deduction under section 212. However if you bought it as a gift for a charity or an individual, you can no longer deduct those amounts under 212. Therefore it falls under the "Personal Transaction" exception and is Capital Gain Property if held longer than 12 months.

Though it is not as solid an argument as I would like, that is still my argument and I will most likely seek a PLR on the matter for at least one client.

Would love to hear if you have any embelishments.

Mark

Hi Mark,

I wanted to be sure our 501 © 3 organizations are able to cash in our donated dinars without paying taxes.

Am I correct in assuming if I donate my dinars to these organizations after the RV, I will not be required to pay taxes on the IQD and neither will the organizations that I plan on making the donation to, as long as I donate the physical dinar before cashing them in? I was planning on waiting after it RV's then giving them to my designated organizations.

Please advise.

Thank you so much.

As long as you donate the physical dinar before cashing them in there is no tax due to you or to the approved charitable entity. So glad to see people giving.

Best of Blessings,

Mark

Edited by ExecConsult
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I am new to all of this... Dinar Investing, Message boards, Tax Stratigies, and most of all "Common Law Contract Trust Funds". Which is what my question is? A friend told me about this and I need to know. The person selling this, sent me info all about it that just made it look like the best thing since sliced bread.

But Is a Common Law Contract Trust Fund Legal? Or will I be wearing a stripped suit if I use it? smile.gif If needed I have 7 small pdf attachments I can send you for all the informationon it.

If not, is a Trust Fund the best Tax Stratigie to use to transfer your converted Dinars to Dollars to? Also, I saw on a message board some mention this... "LLC then a triple layer trust." What is a LLC and what is a triple layer trust? This same person also said this, is this acurate and true?

First and number ONE, do NOT cash in a single note until you have set up

a llc or corp for the money to pass through, then the trust, it triggers a tax on all

your dinar from what I was told.

Go to a lawyer and give him a note or notes, then they loan you the money to

set up, VERY IMPORTANT!!!!!! I am doing a LLC then a triple layer trust.

ONLY do a ledger to ledger, any wire over 4.2 million triggers homeland security.

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Cyngine Smythe

There is no way to tell what a "Common Law Contract Trust Fund" is without seeing the trust document controlling it. Trusts are not always called the same things and sometimes what they are called has NOTHING to do with what is in them. If I had to guess, I'd guess that what you are being sold is what people used to call a "Constitutional Trust" or "Pure Trust." Those tend toward the striped PJs.

If you would like, you can try to post the PDF files here and, given time, I may look at them. However, my time is limited.

Again with the trust names - I have no idea what the provisions are in some entity someone called a "Triple Layer Trust." Whether the LLC and or the trust do what they are supposed to do depends largely on how they were drafted. No way to tell you without reading the documents.

My advice - post RV don't "give an attorney notes." Actually cash out a little. Then pay competent professionals to discuss your goals and dreams with you and help you figure out the best way to structure your assets to support those goals.

Best of Blessings,

Mark

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Im not as smart as a lot of you guys here.. but I would like to PONDER a different view.

One that revolves around 'taxable event'

lets say my dad gave me dinar before he died in iraq. i wait till dinar RVs and I opt to NOT cash into to dollars, but take a portion in gold, silver, euros, australian dollars, british pounds. I then only use euros to pay for things in the US that accept them.

When have I created a Taxable Event by IRS definitions? I never cashed them into US dollars

OR

what if I took some dinars to the very same bank that sold them to me and offered them back as they are for purchasing some of their REO portofolio? then hold properties for rent for years and then selll them for the equivalent or less I paid for in dollars...? better yet, put my PRE RV dinars into Roth IRA and have the IRA buy the properties post RV directly?

Edited by Don Paul
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Im not as smart as a lot of you guys here.. but I would like to PONDER a different view.

One that revolves around 'taxable event'

lets say my dad gave me dinar before he died in iraq. i wait till dinar RVs and I opt to NOT cash into to dollars, but take a portion in gold, silver, euros, australian dollars, british pounds. I then only use euros to pay for things in the US that accept them.

When have I created a Taxable Event by IRS definitions? I never cashed them into US dollars

OR

what if I took some dinars to the very same bank that sold them to me and offered them back as they are for purchasing some of their REO portofolio? then hold properties for rent for years and then selll them for the equivalent or less I paid for in dollars...? better yet, put my PRE RV dinars into Roth IRA and have the IRA buy the properties post RV directly?

To begin with this idea of not creating a taxable event because you exchange your dinar for value other than USD is just not true. My CPA (masters degree in taxes) shared an IRS case where a client unknowingly received an antique gun in a house purchase and it was deemed a taxable gain in value. Anything that results in a gain whether it is a gain transpiring between a transfer of IQD to USD or IQD to gold you have realized a gain, resulting in you owing taxes to the IRS. I would consult highly qualified advice either before or after the RV before I cashed-in a large amount of dinar, even when exchanging it for other foreign currency, precious metals or REOs.

Of course any activity within a "self-directed IRA" would change the rules and would be a way to defer taxes on the gains you might have through these exchanges.

Maybe Mark will offer or has already offered his take on this idea of "non-taxable exchanges" of dinars for other items of value.

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Cyngine Smythe

There is no way to tell what a "Common Law Contract Trust Fund" is without seeing the trust document controlling it. Trusts are not always called the same things and sometimes what they are called has NOTHING to do with what is in them. If I had to guess, I'd guess that what you are being sold is what people used to call a "Constitutional Trust" or "Pure Trust." Those tend toward the striped PJs.

If you would like, you can try to post the PDF files here and, given time, I may look at them. However, my time is limited.

Again with the trust names - I have no idea what the provisions are in some entity someone called a "Triple Layer Trust." Whether the LLC and or the trust do what they are supposed to do depends largely on how they were drafted. No way to tell you without reading the documents.

My advice - post RV don't "give an attorney notes." Actually cash out a little. Then pay competent professionals to discuss your goals and dreams with you and help you figure out the best way to structure your assets to support those goals.

Best of Blessings,

Mark

===========================================================================================

Hello Mark,

Thank you so much for your help. I know less than zero when it comes to any of these matters. I just want to make sure that I do not make any costly wrong choices, and to make sure I do not do anything that is illegal.

I have not purchased this Trust yet, (which was discounted to $2500 from the normal $3900) because I wanted to make sure that it was not only legal first, but that it will meet my needs in lowering my taxes as much as legally possible. Unfortunately, I do not have the actual Contract Trust document. However, I do have a detailed description from the seller, which tells all about it, as it quotes many IRS court cases with the court case statute numbers and the names of the people versus IRS in the circuit and Supreme court as well, which the individuals did win against the IRS. It is a very interesting read. I was able to attach five of the seven, pdf files they sent to me, not including the application, they are all short, and a quick read, so you would have the full description. If you need the last two let me know and I will send those as well. I hope it will suffice for you to discern if it might be legal or illegal or not, from its description anyway.

I want to thank you for the advice you gave about the attorney or financial consultant. Speaking of that, what is the best way to choose a good financial consultant, what should I look for, and or ask them in order to weed the good from the bad? Also, is the initial meeting with a financial consultant free with many of them like that of many lawyers?

Again, Thank you very much, and Gods blessings upon you.

Ed

Comparison 6.pdfTHE SHIELD Vol I. 6.pdfTHE SHIELD Vol II.6.pdfTHE SHIELD Vol III. 6.pdfTHE SHIELD Vol IV.6.pdf

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Im not as smart as a lot of you guys here.. but I would like to PONDER a different view.

One that revolves around 'taxable event'

lets say my dad gave me dinar before he died in iraq. i wait till dinar RVs and I opt to NOT cash into to dollars, but take a portion in gold, silver, euros, australian dollars, british pounds. I then only use euros to pay for things in the US that accept them.

When have I created a Taxable Event by IRS definitions? I never cashed them into US dollars

OR

what if I took some dinars to the very same bank that sold them to me and offered them back as they are for purchasing some of their REO portofolio? then hold properties for rent for years and then selll them for the equivalent or less I paid for in dollars...? better yet, put my PRE RV dinars into Roth IRA and have the IRA buy the properties post RV directly?

Basically ANYTIME you exchange or trade your Dinars (which you bought for $1000 and exchanged for MORE than $1000), you have to pay a tax on the difference. As long as you just hold onto the Dinar, you have not "gained anything" YET. So you don't have to pay any tax YET. But once you sell them, trade them for a house, trade them for US$ or Euros, or Gold or Silver or 743,209 pounds of Prime Angus Beef... you have now realized a gain in your investment and you must pay taxes on that increase.

I am not a tax lawyer, but there may be a way to use the Dinars as Collateral to acquire loans without creating a taxable event. You could then use the loan money without having to cash in the Dinar. Perhaps Mark will comment on this idea.

Mark, another question or two for you if you have the time and inclination to answer. Can a person use a 1031 tax-deferred exchange or similiar event to exchange their Dinar for Real Property (land / buildings) without incurring capital gains? If I were gifted Dinar? What if the Dinar was held by an LLC and the LLC bought real property (land / buildings)? Could it use those purchases as an offset to the income that the Dinar created when it RV's?

Thanks in advance!

Semper Fidelis

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I posted on the whole "exchange for gold" thing here:

It also applies to exchanging for cars, houses, etc.... (That has been brought up too.)

Hope that helps,

Mark

MARK,,,,DID NOT THE PRESIDENT OF THIS ,U,S,A,,,INCOURAGE THE CITZENS TO INVEST IN IRAQ,,,AKA ,(,,DINARS ).. WOULD THIS CONSITUTE (INVESTMENT ),,,CAPITOL GAINS BEING THE END RESULT...THANK YOU VERY KINDLY

Why yes he did encourage investment in Iraq - that is part of why we have so many contractors over there. Those businesses will have both capital gains events and ordinary income events. However, any "investment" in physical foreign currency will be an ordinary income event governed by IRC section 988.

Best of Blessings,

Mark

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Hi Mark,

Thanks for that, I just get lost after the first example, for me I need to know what % I will be taxed. Am I safe thinking 50% will go to Tax, I know it's probably not that simple, it's designed that way. But I can say I'm considering to leave the US for a couple of years if the tax due is much greater than 50%.

50%???? Wow, :blink: I hope it isn't that high. :(

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===========================================================================================

Hello Mark,

Thank you so much for your help. I know less than zero when it comes to any of these matters. I just want to make sure that I do not make any costly wrong choices, and to make sure I do not do anything that is illegal.

I have not purchased this Trust yet, (which was discounted to $2500 from the normal $3900) because I wanted to make sure that it was not only legal first, but that it will meet my needs in lowering my taxes as much as legally possible. Unfortunately, I do not have the actual Contract Trust document. However, I do have a detailed description from the seller, which tells all about it, as it quotes many IRS court cases with the court case statute numbers and the names of the people versus IRS in the circuit and Supreme court as well, which the individuals did win against the IRS. It is a very interesting read. I was able to attach five of the seven, pdf files they sent to me, not including the application, they are all short, and a quick read, so you would have the full description. If you need the last two let me know and I will send those as well. I hope it will suffice for you to discern if it might be legal or illegal or not, from its description anyway.

I want to thank you for the advice you gave about the attorney or financial consultant. Speaking of that, what is the best way to choose a good financial consultant, what should I look for, and or ask them in order to weed the good from the bad? Also, is the initial meeting with a financial consultant free with many of them like that of many lawyers?

Again, Thank you very much, and Gods blessings upon you.

Ed

Comparison 6.pdfTHE SHIELD Vol I. 6.pdfTHE SHIELD Vol II.6.pdfTHE SHIELD Vol III. 6.pdfTHE SHIELD Vol IV.6.pdf

Wow!! This is what they are doing?

I must admit that when I first received your response, I thought, "Do I really want to put myself out there where I can be attacked, sued, etc... if I review this stuff and tell the world about it?" When I opened up the documents, I smiled and relaxed. I gave them MUCH more credit than they deserved.

This is a PURE trust or Contract Trust or Constitutional Trust and they have been around for a long time. Now you have the opportunity to use one. For only $2,500 and a lot of work, you too can be fined and go to jail. My suggestion . . . Stay as far away from this as possible.

These are right up there with all the tax protester reasons you don't have to pay taxes to begin with.

I realize this is brief - These issues go way outside the scope of this thread. I will try to do a new thread about these issues some time soon.

In the mean time, my professional advice is that this is a way to get yourself in trouble.

For instance -

(In a public service warning letter from the Dept. of Treasury in 2002)

In Miami, Florida, John P. Ellis, Sr. was sentenced to serve 10 and a half years in prison. The evidence showed that Ellis marketed sham "common law" trusts and fraudulently claimed that the trusts were tax-exempt because they were "foreign" to the United States. More than 150 customers were identified as having purchased more than 360 trusts or trust packages, at prices of $20,000 and more

(The letter has a long list of such convictions)

AND

(--post to a Web-based discussion group on March 17, 1998 by a Mike Kaye (spelling and punctuation faithfully duplicated)

last year the bank acted on a levy from the irs. the levy was directed to me personally. the bank turned over funds that were in a non-grantor pure trust organization bank account. the bank was notified on various occassions that me and the trust are seperate entities etc. they -of course- ignored everything.

Best of Blessings,

Mark

50%???? Wow, :blink: I hope it isn't that high. :(

50% could be close

35% federal

5-11% state (most are 7-9%)

and some places add local taxes on top of that. Could get you very close to 50%.

The original poster was right in assuming 50% was pretty safe.

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Wow!! This is what they are doing?

I must admit that when I first received your response, I thought, "Do I really want to put myself out there where I can be attacked, sued, etc... if I review this stuff and tell the world about it?" When I opened up the documents, I smiled and relaxed. I gave them MUCH more credit than they deserved.

This is a PURE trust or Contract Trust or Constitutional Trust and they have been around for a long time. Now you have the opportunity to use one. For only $2,500 and a lot of work, you too can be fined and go to jail. My suggestion . . . Stay as far away from this as possible.

These are right up there with all the tax protester reasons you don't have to pay taxes to begin with.

I realize this is brief - These issues go way outside the scope of this thread. I will try to do a new thread about these issues some time soon.

In the mean time, my professional advice is that this is a way to get yourself in trouble.

For instance -

(In a public service warning letter from the Dept. of Treasury in 2002)

In Miami, Florida, John P. Ellis, Sr. was sentenced to serve 10 and a half years in prison. The evidence showed that Ellis marketed sham "common law" trusts and fraudulently claimed that the trusts were tax-exempt because they were "foreign" to the United States. More than 150 customers were identified as having purchased more than 360 trusts or trust packages, at prices of $20,000 and more

(The letter has a long list of such convictions)

AND

(--post to a Web-based discussion group on March 17, 1998 by a Mike Kaye (spelling and punctuation faithfully duplicated)

last year the bank acted on a levy from the irs. the levy was directed to me personally. the bank turned over funds that were in a non-grantor pure trust organization bank account. the bank was notified on various occassions that me and the trust are seperate entities etc. they -of course- ignored everything.

Best of Blessings,

Mark

50% could be close

35% federal

5-11% state (most are 7-9%)

and some places add local taxes on top of that. Could get you very close to 50%.

The original poster was right in assuming 50% was pretty safe.

Fortunately we don't have state tax in tennessee. :mellow:

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Wow!! This is what they are doing?

I must admit that when I first received your response, I thought, "Do I really want to put myself out there where I can be attacked, sued, etc... if I review this stuff and tell the world about it?" When I opened up the documents, I smiled and relaxed. I gave them MUCH more credit than they deserved.

This is a PURE trust or Contract Trust or Constitutional Trust and they have been around for a long time. Now you have the opportunity to use one. For only $2,500 and a lot of work, you too can be fined and go to jail. My suggestion . . . Stay as far away from this as possible.

These are right up there with all the tax protester reasons you don't have to pay taxes to begin with.

I realize this is brief - These issues go way outside the scope of this thread. I will try to do a new thread about these issues some time soon.

In the mean time, my professional advice is that this is a way to get yourself in trouble.

For instance -

(In a public service warning letter from the Dept. of Treasury in 2002)

In Miami, Florida, John P. Ellis, Sr. was sentenced to serve 10 and a half years in prison. The evidence showed that Ellis marketed sham "common law" trusts and fraudulently claimed that the trusts were tax-exempt because they were "foreign" to the United States. More than 150 customers were identified as having purchased more than 360 trusts or trust packages, at prices of $20,000 and more

(The letter has a long list of such convictions)

AND

(--post to a Web-based discussion group on March 17, 1998 by a Mike Kaye (spelling and punctuation faithfully duplicated)

last year the bank acted on a levy from the irs. the levy was directed to me personally. the bank turned over funds that were in a non-grantor pure trust organization bank account. the bank was notified on various occassions that me and the trust are seperate entities etc. they -of course- ignored everything.

Best of Blessings,

Mark

50% could be close

35% federal

5-11% state (most are 7-9%)

and some places add local taxes on top of that. Could get you very close to 50%.

The original poster was right in assuming 50% was pretty safe.

=============================================================

Mark,

Thank you for your reply. Even though I know less than zero about this stuff, you have confirmed my strong suspicions that it was illegal. Thanks so much.

I will start looking for someone reputable. So what kind of professional should I be looking for exactly to setup a Triple Layer Trust with a LLC Account or whatever it is called, that I need to transfer my exchanged Dinars to Dollars into an account, is it a Tax attorney, Estate Planner, or a Investment advisor? My guess would be a Tax attorney. Is that correct?

Again, thank you so much for steering me away from trouble.

God Bless you Mark.

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Thanks for explaining this tax stuff. I still don't understand it all but any gain over $200 dollars is taxable under ordinary income.That part is clear and what we need to know. What is the taxable rate under odinary income? Is that rate based on your current (last year's tax return rate)? How in the world would any ordinary person begin to decipher all this info and understand all these tax rules,exemptions,exceptions ect? They seem to override one another.

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Another question for you, Mark. Will we be able to benefit by claiming an "ordinary income" gain and investing in a business, hiring friends & relatives with really good incomes, buying cars, trucks, real estate, etc to operate this business ? The President said any "business investments" would be 100% tax deductible near the end of his "State of the Union" speech. Can we do well by following this route to keep more of our money? Who knows; after a few years it may even go out of business (not bankrupt).

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So my question would be, if our investment does not (in your opinion) fall under section 988, what section does it fall under?

If this question was meant for me, I was not clear enough in my earlier explanations. The Dinar investment DOES fall under section 988. However, it does not fall under the "exception" in section 988 (e)(2) for a "Personal Transaction."

You see, section 988 is all about gains and losses on foreign currency being ordinary income. There is one tiny part (988(e)(2) which makes an exception for individuals who may make or lose a little in their personal travels etc.... This tiny exception to the rule made for "Personal Transactions" is quoted in pub. 525. However, the next tiny part of section 988 lets us know that we can not take that exception because what we have done as an investment is not considered a "Personal Transaction."

I hope that clears things up a little.

Best of Blessings,

Mark

Thanks for explaining this tax stuff. I still don't understand it all but any gain over $200 dollars is taxable under ordinary income.That part is clear and what we need to know. What is the taxable rate under odinary income? Is that rate based on your current (last year's tax return rate)? How in the world would any ordinary person begin to decipher all this info and understand all these tax rules,exemptions,exceptions ect? They seem to override one another.

Unfortunately, the $200 limit does not even apply. Every dollar from $0.00 on up is taxed as ordinary income. The rate will be based on how much income you made that year. My guess is that we will all be in the top marginal tax bracket of 35% federal (plus any state and local taxes).

No person is expected to be able to decipher this without a lot of education or help. It is called job security. :) I would love to see a more fair and simpler tax structure. I personally am a fan of the "Fair Tax" system.

Mark

I will start looking for someone reputable. So what kind of professional should I be looking for exactly to setup a Triple Layer Trust with a LLC Account or whatever it is called, that I need to transfer my exchanged Dinars to Dollars into an account, is it a Tax attorney, Estate Planner, or a Investment advisor? My guess would be a Tax attorney. Is that correct?

Again, thank you so much for steering me away from trouble.

God Bless you Mark.

You are very welcome. It is very gratifying to keep someone from being taken advantage of or scammed.

I still don't know what a "Triple Layer Trust" would be or even if it would be good for you. What I would do is cash in a little bit for immediate needs and hire a good Estate Planning attorney, a good CPA, and a good (honest) financial adviser. (You may want to go with a fee based financial adviser.) It would be a plus if your Estate Planning attorney was also a tax attorney but a good CPA working with an estate planning attorney and a financial adviser will be a good team to help you design the plan for the rest of your money. All three professionals must be willing to communicate and work together.

Hope this helps.

Best of Blessings,

Mark

Another question for you, Mark. Will we be able to benefit by claiming an "ordinary income" gain and investing in a business, hiring friends & relatives with really good incomes, buying cars, trucks, real estate, etc to operate this business ? The President said any "business investments" would be 100% tax deductible near the end of his "State of the Union" speech. Can we do well by following this route to keep more of our money? Who knows; after a few years it may even go out of business (not bankrupt).

This is something I have looked at a bit. The one excluded item in your list would be real estate. It must be a capital asset that qualifies for MACRS depreciation of 20 years or less. (MACRS - Modified Accelerated Cost Recovery System) Real estate is all over 20 years. However, you can separate out pieces of the real estate. I plan on building at least one office and maybe two. I will not be able to expense the roof or concrete floor but I will be able to expense the carpet, artwork, fixtures, furniture, wall coverings, and hopefully the kitchen sink. I will expense EVERYTHING my CPA will let me separate out. (I wonder if I can separate out the windows and doors?)

I will also buy my business a new car etc....

Edited by ExecConsult
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So then, Mark, it seems you are saying (in your opinion) you would be able to declare say $1M in ordinary income, buy the vehicles, "office space", pay salaries, etc., and immediately write that off that million as 100% deductible (if that was the investment) thus improving the economy, friends and relatives lives, and pay no tax on that portion or is that stretching it a little too much?

Seems like a good way to keep a million and make a lot of people happy.

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What about...

I have a "hunting business" where I let people hunt on my land for a fee.

I want to buy some land. The land owner and I agree on a price of $1,000,000

I set up a lease for the land with the current "seller" of the land where I pay $1,000,000 in leasing costs between now and the end of the year. The lease ends on December 31st, 2011. As part of the lease agreement is a $1 buyout option.

I pay the owner $1,000,000 for the land, write it off as a business expense to lower my taxable income. Then January 1st, 2012 I excercise the buyout and purchase the land for $1.

Possible? Legal?

Semper Fidelis

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So then, Mark, it seems you are saying (in your opinion) you would be able to declare say $1M in ordinary income, buy the vehicles, "office space", pay salaries, etc., and immediately write that off that million as 100% deductible (if that was the investment) thus improving the economy, friends and relatives lives, and pay no tax on that portion or is that stretching it a little too much?

Seems like a good way to keep a million and make a lot of people happy.

Yes - as long as all capital expenditures are 100% used for business and everything is done and run like a business -- It works. However, a note of caution. Any capital investments must stay in the business for over a year and they will be carried on your books at $0.00. If you sell them, you will have ordinary income.

If you have a business, this is a great way to get started or expand and get rid of your income (for tax purposes) at the same time.

Mark

What about...

I have a "hunting business" where I let people hunt on my land for a fee.

I want to buy some land. The land owner and I agree on a price of $1,000,000

I set up a lease for the land with the current "seller" of the land where I pay $1,000,000 in leasing costs between now and the end of the year. The lease ends on December 31st, 2011. As part of the lease agreement is a $1 buyout option.

I pay the owner $1,000,000 for the land, write it off as a business expense to lower my taxable income. Then January 1st, 2012 I excercise the buyout and purchase the land for $1.

Possible? Legal?

Semper Fidelis

No - a lease that is structured like a sale is going to be considered a sale - the property would need to be amortized. Now - I remind you I am not a CPA - I'm just speaking from memory here. However, that IS how I remember it.

Best of Blessings,

Mark

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Mark --

Thanks again for all your posts.

In my experience, bankers are extremely

opportunistic.

Some are down right unscrupulous.

However, why not appeal to their sense

of greed ?

What about utilizing re-valued IQD as collaterol

for a secured loan ?

They charge 3 % for the secured loan with a dedicated

account full of dinars, 5 % for " insurance " [ thievery ] ,

and an additional 5 % because they are greedy.

13 % is a far cry from 35 % and no one is the wiser.

All perfectly legal and the US Govt. does not have to steal

your money.

Since the dealer report law was repealed, no one knows

what you have anyway.

The idea is in this way, an IQD holder is not " monetizing "

their IQD.

Interested in your response.

Regards,

j

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Mark --

Are you there ?

LOL - now I am

If you can do it, it is a great idea. It is one I have thought of myself. The reason I have not posted on it prior is the lack of certainty. There are two things that might throw a wrench in the works.

1) You have to find a banker willing to use the IQD as collateral. Post RV that may not be a problem except for #2.

2) There is the potential that once there is a revaluation and lower denominations are printed, there may be a limited amount of time to exchange the larger denominations. In this case, the bank will know that your dinar can not simply be held as collateral because at the end of the period the collateral loses all of its value.

Another thing to look at would be a CRT.

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