What specific steps have you taken to prepare for the RV?

[Triple xXx]

What specific steps have you taken to prepare for the RV?

[behaviorkat]

I am setting up an off-shore account. Will pay taxes in user fees and sales taxes here in the states. Also will donate to the USO, a lot!

I am looking into Trusts however, they want to keep all the money in the trust and if you want anything it is my understanding you have to beg for it, done begging for money----work in health care and have to beg to get paid--- not fun! Have some families I know that have adopted autistic kids and plan on donating monies to them. Maybe an LLC account in the states but that I will set up a little later. Nice question, don't know if people will answer, I had to give it some thought.

[Triple xXx]

I am setting up an off-shore account.

How do you go about doing that? How long does it take?

[SAG]

Talked to a tax attorney. Will pay my taxes the balance setup in offshore corp where it will earn tax free dollars and the corp will own everything. All legal and I will sleep well.

Cashing in, various options with small amount at first, quit job and then setup offshore corp, cash in the rest, invest and start my other business.

How do you go about doing that? How long does it take?

Best to have a tax attorney to help wth this. Some of these online sites can't be trusted.

Edited December 2, 2010 by SAG

[cray-k-47]

no real preperation im just waiting and hoping and even doing a little praying. i usually check xe and forex bout once a week and here lately ive been on this sight, but the jury is still out on dv for now.

what do you guys hear about taxation on exchanges? if the dinar was purchased while on orders in iraq does the tax exemption carry over to the exchange?

[Triple xXx]

Question for you guys, I believe that you can cash in less than $10,000 worth and not report it correct? Any transaction over $10,000 in cash has to be reported. What if you just cash in $10,000 at a time?

[tjfoz]

I will move to Boracay Philippines if this RV is 2+. I will be able to make over 50 000 a year clear most likely on some kind of high investment savings account @ 5 percent. Will live on 30 - 35000 and put the rest back in a nest egg for compounding interest. 5 years from now (since im young) I will stop just hobbying and dabble in real estate and start some kind of internet based business(probably earlier than 5 years). But will be set for life if its 2+ .

[cray-k-47]

Question for you guys, I believe that you can cash in less than $10,000 worth and not report it correct? Any transaction over $10,000 in cash has to be reported. What if you just cash in $10,000 at a time?

does that 10,000 apply to the initial investment or the big cash out we all hope for?

[behaviorkat]

If you sign up for the VIP membership you can get more information on these topics. I think it is well worth the membership----especially right now

GO RV!

[saphire]

I like *********** ---don't know how to get the link but Google ******* and she has a web site with everything listed another Dinar investor gave me this information. She is linked up with a Dave Ramsy guy so I think she is legit ----- have fun and donate a lot of money to military supports if you do not want to pay taxes on programs that may not be run very well. Donate

no luck finding this site?????

correct!

[kox]

Add the 10k grands together and that is what you pay taxes on... the total for the year..don't be a jerk...pay all you owe...Remember..a fool and his money are soon parted.

[rwharnden]

Question for you guys, I believe that you can cash in less than $10,000 worth and not report it correct? Any transaction over $10,000 in cash has to be reported. What if you just cash in $10,000 at a time?

Great Question! I look forward to learning the answer!

[Traconesu02]

Why would anyone want to take a chance on having the IRS on their backs after this RV's

The penalties and fines and possible imprisonment, just not worth it.

Pay the taxes that you owe - regardless if you like what our government is going to do with it or not. And get that monkey off your back once and for all.

JMHO

$10,000 at a shot and not paying taxes on it is tax evasion no matter what way you look at it.

[SAG]

Question for you guys, I believe that you can cash in less than $10,000 worth and not report it correct? Any transaction over $10,000 in cash has to be reported. What if you just cash in $10,000 at a time?

Banks watch for this. Any amount that accumulates over a short period of time can be considered to be over the $10K limit and is subject to be reported. Not only that they will report to IRS or CRA that this activity is suspicious.

[cbs71]

Agree..guys/gals, just pay your taxes..greed kills and karma is you know what..

What goes around, comes around...like another poster said..is it really worth it to have the IRS on your back and have you pay penalties and the possibility of jail time?

Think people!

[Icepick]

The 10k limit is commonly used because it sets off a red flag to the IRS. So you 'legally' you need to pay taxes on even 1k capital gains.

[behaviorkat]

I don't know it went under maintenance during the Thanksgiving Holiay...... check back later

[uniondad]

Why would anyone want to take a chance on having the IRS on their backs after this RV's

The penalties and fines and possible imprisonment, just not worth it.

Pay the taxes that you owe - regardless if you like what our government is going to do with it or not. And get that monkey off your back once and for all.

JMHO

$10,000 at a shot and not paying taxes on it is tax evasion no matter what way you look at it.

Well, one reason to try and pay as little as possible is because our government doesn't get any of our tax money anyway. It goes straight to the Federal Reserve Owner's pockets. None of our tax money goes to government spending but goes right to the Fed to pay off the interest that our government borrows. Check it out before you guys get all patriotic with the paying the government crap. Yeah, play it smart so you don't lose it or have to spend time in the pen, but trying to give as little as possible is the smartest thing you could do!

[Traconesu02]

Well, one reason to try and pay as little as possible is because our government doesn't get any of our tax money anyway. It goes straight to the Federal Reserve Owner's pockets. None of our tax money goes to government spending but goes right to the Fed to pay off the interest that our government borrows. Check it out before you guys get all patriotic with the paying the government crap. Yeah, play it smart so you don't lose it or have to spend time in the pen, but trying to give as little as possible is the smartest thing you could do!

I know where our tax money is going - and do not agree with it. Not much choice there - majority of the politicians do not do what we want them to do. Regardless of who we vote into office.

Just giving some sound advice - pay your taxes as you can be sure the IRS will be watching once this RV's

Do what you will. No skin off of me. Live and Learn.

I worked for the government for 25 years and now retired. I know better than most how the government wastes our tax monies.

And I am not about to risk being convicted of tax evasion.

As I mentioned in my post - pay the taxes you owe. I did not say pay more than you have to pay.

But trying to cashin $10,000 at a time to avoid paying taxes is a sure way of getting investigated.

[uniondad]

I know where our tax money is going - and do not agree with it. Not much choice there - majority of the politicians do not do what we want them to do. Regardless of who we vote into office.

Just giving some sound advice - pay your taxes as you can be sure the IRS will be watching once this RV's

Do what you will. No skin off of me. Live and Learn.

I worked for the government for 25 years and now retired. I know better than most how the government wastes our tax monies.

And I am not about to risk being convicted of tax evasion.

As I mentioned in my post - pay the taxes you owe. I did not say pay more than you have to pay.

Thanks for the sound advice. But I think it is also sound advice to do what you can legally to pay as little as possible to the IRS and the FED before you just go giving 35% or more to those thieves. Do some research, talk to some professionals and do what you can to protect what you've been waiting for and EARNED.

Oh, yeah, and GOOO RV!!

[Goldminer]

Question for you guys, I believe that you can cash in less than $10,000 worth and not report it correct? Any transaction over $10,000 in cash has to be reported. What if you just cash in $10,000 at a time?

At 10K, the bank employees are to ask you to sign a financial document alerting the IRS that you have infact deposited cash into your account. Some think that by skirting under the required reporting amount, they can avoid the report thus avoid capital gains taxes. In this case, I feel confident that dinar transactions of any amount will be closely observed and any degree of frequent deposit activity ( and dinar activity) outside of normal, historical transactions to your account will trigger questions. This administration is so money starved (hiring 16K new IRS agents) that I'll not try and skirt the 10K requirement...... really not worth it in the long run. Who really wants to be looking back when there is so much in front to look forward to at such a small upfront investment amount?

[Traconesu02]

At 10K, the bank employees are to ask you to sign a financial document alerting the IRS that you have infact deposited cash into your account. Some think that by skirting under the required reporting amount, they can avoid the report thus avoid capital gains taxes. In this case, I feel confident that dinar transactions of any amount will be closely observed and any degree of frequent deposit activity ( and dinar activity) outside of normal, historical transactions to your account will trigger questions. This administration is so money starved (hiring 16K new IRS agents) that I'll not try and skirt the 10K requirement...... really not worth it in the long run. Who really wants to be looking back when there is so much in front to look forward to at such a small upfront investment amount?

This is exactly what will happen. Tellers are required to report any consequitive transactions to their supervisors even if they are less then $10,001.00.

This was all I was trying to say also.

I just do not want any of the less experienced people on this site, to get themselve into trouble, they can simply avoid by hiring a good tax consultant.

Thanks for your reply Goldminer - Very good advice.

[PRS]

I setup a Wells Fargo cheap Savings account... they will have to deal in Dinar once RV happens.... you?

[firefighter_218546]

1st. I will quit my job in Iraq and go back to the states

2nd I will pick up my son from his school and fill him on the good news ( surprise )

3rd I will contact a accountant and put aside the money for taxes

3.5 I will give a boat load of money to the church ( Thanks God )

4th I will visit the Harley Davidson shop

5th I will give the exwife some money to help her out with her bills ( Just helping her because it will make it easier on my son )

6th I will get a new truck

7th I will get a Big Fish House

8th I will pay off the house and all of my bills

9th I will pay for a 2nd house this one will be in the community where my son goes to school

10th. INVEST

11th Live the good life, and possibly become a fishing guide.

How are your dreams coming along

[Triple xXx]

Add the 10k grands together and that is what you pay taxes on... the total for the year..don't be a jerk...pay all you owe...Remember..a fool and his money are soon parted.

Rich Dad Poor Dad Rule #1..."Reduce your taxable income as much as possible!"

Yes, "a fool and his money are soon parted" and that is why the rich reduce their taxable income to almost nothing! If you want to pay 35% in taxes be my guest! I want to reduce my taxable income as absolutely as much as possible. Just like Warren Buffet, Bill Gates, Steve Jobs and a lot of other fools!

If the government were more thrifty with our tax dollars then yes by all means, but all they have been doing is wasting billions of dollars year after year after year!

I'll keep as much of my money as absolutely possible and waste it on myself! $400 for a toilet seat! I think not!

I know where our tax money is going - and do not agree with it. Not much choice there - majority of the politicians do not do what we want them to do. Regardless of who we vote into office.

Just giving some sound advice - pay your taxes as you can be sure the IRS will be watching once this RV's

Do what you will. No skin off of me. Live and Learn.

I worked for the government for 25 years and now retired. I know better than most how the government wastes our tax monies.

And I am not about to risk being convicted of tax evasion.

As I mentioned in my post - pay the taxes you owe. I did not say pay more than you have to pay.

But trying to cashin $10,000 at a time to avoid paying taxes is a sure way of getting investigated.

Uhhhh....that would be actually $9,999.99 at a time!

Seriously, I'll pay my taxes but as little as I can get away with legally!

Edited December 2, 2010 by Triple xXx