I have a post RV Question, anyone please?

[sixstring516]

Hi DV family, I have only been on for a few months, and I have never invested in anything before, especially foreign currency...Iam way out of my realm here, which is why Im so grateful for every one of you guys and girls on here helping all of us....my question is what do I do post RV? whether it be at a bank or dinar trader? how does money get to my account? how do I go about tax information?...I know these questions sound silly to many of you who are experienced and for that Im sorry....just looking for some light....thank you all God Bless!

[cbs71]

Hi DV family, I have only been on for a few months, and I have never invested in anything before, especially foreign currency...Iam way out of my realm here, which is why Im so grateful for every one of you guys and girls on here helping all of us....my question is what do I do post RV? whether it be at a bank or dinar trader? how does money get to my account? how do I go about tax information?...I know these questions sound silly to many of you who are experienced and for that Im sorry....just looking for some light....thank you all God Bless!

First of all, it is not a silly question..we all were newbies once..

Post RV..you can cash in your dinar with various sources like Ali(Dinartrader) or another online outfit and/or you can do it at a local bank branch depending on where you live. You should have the option of either getting a check or having it wired to your account of choice. As far as tax questions..it is advisable that you seek professional advice from a tax attorney and/or estate planner..depending on your situation.

Hope this helps.....

[Drez]

Not silly question, this is stuff the you need to know. You can go to a Dinartrader location or to your local bank after the RV and cash in your Dinar for Dollars. Just look at the buy back rate that each is going to charge you and see who is going to give you a better deal. Me personally, I'm going to my bank BOA and cashing in.

As for the taxes you are going to have to hire a tax professional to handle all your taxed, just don't try to get cute and not pay taxes. Your newly found money will worthless to you you in jail.

[TonyR]

Hi DV family, I have only been on for a few months, and I have never invested in anything before, especially foreign currency...Iam way out of my realm here, which is why Im so grateful for every one of you guys and girls on here helping all of us....my question is what do I do post RV? whether it be at a bank or dinar trader? how does money get to my account? how do I go about tax information?...I know these questions sound silly to many of you who are experienced and for that Im sorry....just looking for some light....thank you all God Bless!

Not question is every silly...

Once you have your Dinar and the RV happens you have two choices. You can cash in at a bank, or you can cash in with a Dinar Dealer. Banks will charge you a spread as well as they may want to take your Dinar to verify it. Your best bet would be to go through a DinarDealer such as Dinartrade.com. They will have locations around the US during the RV where you can bring your Dinar. They will count it right in front of you and cash you out depending on the exchange rate. They will then wire the money to your bank account right there, and have you call your bank to verify it.

As far as tax information goes:

Profits from sale of currency purchased as an investment is taxed as ordinary income and treated as interest under Section 988 of IRS code. This is a maximum of 35% for federal tax in 2010 and whatever your state tax is - if you have state tax. Do not forget to file and pay estimated taxes for state (if applicable) and federal for 4th quarter 2010 when this RV's before the end of 2010.

Use the search function on DV to look for different topics that can help you.

http://dinarvets.com/forums/index.php?app=core&module=search

Hope it helps some.

-Tony

[bobbidoll]

Please read this article. It brings a lot of good points out to be discussed about the tax issues.

Among other things, I work for a tax preparation firm. To the best of our knowledge and research, it hasn't been determined how exactly this will be taxed. There are many who do not believe that this falls under the Section 988. If anyone can pin it down better - I'd love to know more about this as well.

[mrref]

BOTTOME LINE:

1. ANY BANK WILL GLADYLY TAKE YOUR DINARS ONCE IT RV'S, YOU MIGHT HAVE TO OPEN AN ACCOUNT WITH THEM.

2. GET YOURSELF A GOOD TAX ATTORNEY..

HOPE THAT HELPS

[natjus843]

Not silly question, this is stuff the you need to know. You can go to a Dinartrader location or to your local bank after the RV and cash in your Dinar for Dollars. Just look at the buy back rate that each is going to charge you and see who is going to give you a better deal. Me personally, I'm going to my bank BOA and cashing in.

As for the taxes you are going to have to hire a tax professional to handle all your taxed, just don't try to get cute and not pay taxes. Your newly found money will worthless to you you in jail.

have you confirmed that w/ b of a? or are you just assuming that they will trade it in when the time comes. i bank w/ them as well and they did not deal in dinar a few weeks ago when i asked.

[Drez]

have you confirmed that w/ b of a? or are you just assuming that they will trade it in when the time comes. i bank w/ them as well and they did not deal in dinar a few weeks ago when i asked.

Yes I know that they will, I have talked to them already. They don't deal with Dinar now and will not deal with Dinar until it is a recognized currency.

[sixstring516]

thank you sooooo much for all your information, im calling today to speak with a tax attorney cause im definitely not getting screwed by The IRS...LOL.............months ago I thought I was alone in this whole IQD purchasing, people I talked to about it told me I was Insane, or desperate, some even told me I was funding terrorist activity......thats why Im so grateful to have met all of you on here....this is definitely an extended family to me God Bless each and every one of you!

[wolfman]

sixstring, I take it you are a fellow picker? Don't sweat asking stupid questions...just read some of mine, they'll make you feel better!

[Richardk]

We all will have so many questions once this pops. I would suggest you join the VIP group, there are many options in the mix that will keep our costs to a min at cash in and not limit us to the spread offered at trade in locations or banks. This is just a suggestion.

Stay grounded, calm and be happy. We all will smile soon.

Go RV/RI

[sixstring516]

WOLFMAN, yup Im a picker...cant wait for RV and grab my dream sustom SG...LOL ah to dream is wonderful, if not for the dreams we would all lose whatever hopes we have left

[MattDinar]

The first thing you or any one should do,,,, Is stop..... think about what you want to get done with this... then start calling all the bank in town find out how much in dollars are you going to get back for your money.. I am checking now and , I am finding out that the banks are wanting to charge you 30% on your money.. cash in 1Mil. Dinar at 3 to 1 and you could pay $900,000.00 to get them to change your money.. check around first.. You could hand themyour money thinking that you have a lot more coming then you really do, and be upset when the money comes in... I am sure the rates will come down.. but when it first rv"s people really want or need the money and will go in and just turn it over.. You do not want to be the first at the bank.. Exchange rates will come down..

[Blackhawk Bob]

sixstring516 - Richardk brought up the very answer I was looking for in all the replies to you. I would recommend joining DinarVet's VIP group, too. Adam has been working his A$$ off trying to find the best opportunities for himself (post RV) along with all the rest of us who are willing to put out the few $ to join VIP. Yes, you can and should check out your local banks for their cash in rates once the RV occurs & if you've purchased any dinar from Dinartrade, then Ali can cash you in ... but Adam has negotiated deals with 3 major institutions to get the best possible cash in rate based on the amount of dinar ALL the VIP members will be cashing in ... not just the (relatively) few million that a single individual & his/her family members may have. The clout of a huge group of us cashing in will have much more pull on getting a better rate than just a few people who run into their local bank as individuals. VIP members will receive numbered certificates that validate the persons' entitlement to the better cash in rate over the general public. The 3 bank chains will be identified at that time. (note: VIP membership will be terminated at the time of RV, so you won't be able to join post RV) In addition to the cash in certificate, Adam has spend HUGE amounts of time traveling to develop an assortment of pre and post RV opportunities. These opportunities will be available to VIP members as they're developed. Some are already in place for members to review.

Adam also has his book, "RV Intel" & "Cash-in Guide" bundled together @ 80% off right now.

Don’t forget to enter the code “80off”!

Here’s the link: http://dinarnews.net/ds-80off.php

Read more: http://dinarvets.com/forums/index.php?/topic/37808-announcement-80-off-rv-intel-with-this-code/#ixzz14r3vwHvh

A lot of your questions can be answered with Adam's material or by scoping out all the different free forums. You'll find tax info, but all recommend seeking out expert advice pre & post RV, so you can be as prepared as possible beforehand as well as after. Mistakes of ignorance can be very costly.

Hope this helps a bit. I'd say the majority of us are acquiring knowledge as we go along. Welcome to the DV family.

[her]

I have a question. If you join DD and you didn't buy your dinar from him, will he cash in your dd when it RV's?

Thanks for any help you can give.