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LL Shane
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I have been speculating on different ways that one might escape taxes when the dinar rv s.

How about this - Suppose one bought a house (or any other item) with dinars - in other words gave the owner actual dinars as a trade. Item for item.

What do you think? If we just traded items for the actual dinars - like trading horses,cars or houses for example. Would there be a basis to be taxed if no US currency changed hands?? Does anyone know?

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I have been speculating on different ways that one might escape taxes when the dinar rv s.

How about this - Suppose one bought a house (or any other item) with dinars - in other words gave the owner actual dinars as a trade. Item for item.

What do you think? If we just traded items for the actual dinars - like trading horses,cars or houses for example. Would there be a basis to be taxed if no US currency changed hands?? Does anyone know?

SIMPLE ANSWER TO YOUR QUESTION, CALL YOUR PROFESSIONAL TAX ATTORNEY.... BETTER TO BE SAFE THAN SORRY :lol::lol::lol::lol:

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way too ahead of the game to give the dinar any credibility to be a valuable trade item. perhaps down the road but by that time it will be time to cash in.... unless you find someone reeeaallly stupid

i hold dinar... but if i were to accept more dinar in trade of my car or home... i would expect me to end myself for such foolishness

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I have been speculating on different ways that one might escape taxes when the dinar rv s.

How about this - Suppose one bought a house (or any other item) with dinars - in other words gave the owner actual dinars as a trade. Item for item.

What do you think? If we just traded items for the actual dinars - like trading horses,cars or houses for example. Would there be a basis to be taxed if no US currency changed hands?? Does anyone know?

I don't know the answer, but I'm assuming you mean AFTER the RV, right? I did hear that we should be doing our tithing and giving to charities with the actual dinar because these churches and charities don't have to pay taxes when they cash it in, so that way we can give them more. if we were giving them $500,000 we would have to pay taxes on it first, so they would get less.

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I have been speculating on different ways that one might escape taxes when the dinar rv s.

How about this - Suppose one bought a house (or any other item) with dinars - in other words gave the owner actual dinars as a trade. Item for item.

What do you think? If we just traded items for the actual dinars - like trading horses,cars or houses for example. Would there be a basis to be taxed if no US currency changed hands?? Does anyone know?

check out the tax forum. lots of good stuff there

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You probably would have a hard time getting a non-dianrian to accept dinars. He would have to pay the taxes on it if he cashes them in....

Here is an idea for you. Bank owned real estate.

When the dinar RVs, you could approach banks who have forereign currency departments to accept dinars in exchange for one of their distressed property listings.

I that you are exchanging one for the other, and not dollars directly, you would PROBABLY (check with a tax attorney) be delaying the tax consequence up until you resell the house.

The one possible advantage is that you would be postponing the tax implication from short term to long term capital gains, plus any gains in the value of the house.

(meaning if you hold on to the house minimum one year before selling) you could end up with a 15% tax bite over the 32+% of a short term gain.

I believe there are some real estate breaks if you re-invest in another property...

I DONT know the new tax codes, so this is just a SUPOSITION.... (educated guess)

IF you put in your dinars NOW into a self directed ROTH IRA, it could do all the purchasing itself and probably enjoy some tax benefits if structured properly and not have a tax consequence up front due to the nature of the ROTH IRA. (I believe you can put up an average of $5000 dollars WORTH per year, more if youre older) 5000 dollars WORTH of dinars could be a nice sum after RV... tax 'free', but you have a min 5 year stipulation that you cant pull moneys out personally without a penalty... more or less

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I have been speculating on different ways that one might escape taxes when the dinar rv s.

How about this - Suppose one bought a house (or any other item) with dinars - in other words gave the owner actual dinars as a trade. Item for item.

What do you think? If we just traded items for the actual dinars - like trading horses,cars or houses for example. Would there be a basis to be taxed if no US currency changed hands?? Does anyone know?

Barter is taxable income.

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It seems to me that the person selling the house and receiving the dinars would only have to pay the capitol gains on the home but I am in no way a pro on taxes. My true feelings on the whole matter would be for the government to keep their grubby little hands out of the risk we took to make a gain. My theory is if the people don't have to pay the hugh tax the money will filter back into the economy helping business pick back up which in turn creates more jobs. Instead we have to pay it to uncle sam who obviously can not manage money or our economy wouldn't be where it is at right now. Being a general contractor in the state of washington I have started to realize that you can not get ahead in this economy. I see my tax dollars that I pay to the state and others being squandered back into things that have no chance of ever helping our economy. It comes down to a plain and simple fact. If there is less people pulling the wagon then there is riding in it things are not going to go good and I'm here to tell you the wagon is getting heavy.

Just my opinion.

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I have been speculating on different ways that one might escape taxes when the dinar rv s.

How about this - Suppose one bought a house (or any other item) with dinars - in other words gave the owner actual dinars as a trade. Item for item.

What do you think? If we just traded items for the actual dinars - like trading horses,cars or houses for example. Would there be a basis to be taxed if no US currency changed hands?? Does anyone know?

Topic 420 - Bartering Income (Taxable Income)

Bartering occurs when you exchange goods or services without exchanging money. An example of bartering is a plumber doing repair work for a dentist in exchange for dental services. The fair market value of goods and services received in exchange for goods or services you provide must be included in income in the year received.

Generally, you report this income on Form 1040, Schedule C (PDF), Profit or Loss from Business. If you failed to report this income, correct your return by filing a Form 1040X. Refer to Topic 308 for Amended Return information.

A barter exchange or barter club is any person or organization with members or clients that contract with each other (or with the barter exchange) to jointly trade or barter property or services. The term does not include arrangements that provide solely for the informal exchange of similar services on a noncommercial basis.

The Internet has provided a medium for new growth in the bartering exchange industry. This growth prompts the following reminder: Barter exchanges are required to file Form 1099-B for all transactions unless certain exceptions are met. Refer to Barter Exchanges in Publication 525, Taxable and Nontaxable Income, and the instructions for Form 1099-B for additional information on this subject. Persons who do not contract a barter exchange but who trade services do not file Form 1099-B. However, they may be required to file Form 1099-MISC. If you are in a business or trade, you may be able to deduct certain costs you incurred to perform the work that was bartered. If you exchanged property or services through a barter exchange, you should receive a Form 1099-B (PDF), Proceeds From Broker and Barter Exchange Transactions. The IRS also will receive the same information.

Please refer to our Bartering page for more information on bartering income and bartering exchanges.

If you receive income from bartering, you may be required to make estimated tax payments. Refer to Publication 525, Taxable and Nontaxable Income, for additional information.

http://www.irs.gov/taxtopics/tc420.html

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Topic 420 - Bartering Income (Taxable Income)

Bartering occurs when you exchange goods or services without exchanging money. An example of bartering is a plumber doing repair work for a dentist in exchange for dental services. The fair market value of goods and services received in exchange for goods or services you provide must be included in income in the year received.

Generally, you report this income on Form 1040, Schedule C (PDF), Profit or Loss from Business. If you failed to report this income, correct your return by filing a Form 1040X. Refer to Topic 308 for Amended Return information.

A barter exchange or barter club is any person or organization with members or clients that contract with each other (or with the barter exchange) to jointly trade or barter property or services. The term does not include arrangements that provide solely for the informal exchange of similar services on a noncommercial basis.

The Internet has provided a medium for new growth in the bartering exchange industry. This growth prompts the following reminder: Barter exchanges are required to file Form 1099-B for all transactions unless certain exceptions are met. Refer to Barter Exchanges in Publication 525, Taxable and Nontaxable Income, and the instructions for Form 1099-B for additional information on this subject. Persons who do not contract a barter exchange but who trade services do not file Form 1099-B. However, they may be required to file Form 1099-MISC. If you are in a business or trade, you may be able to deduct certain costs you incurred to perform the work that was bartered. If you exchanged property or services through a barter exchange, you should receive a Form 1099-B (PDF), Proceeds From Broker and Barter Exchange Transactions. The IRS also will receive the same information.

Please refer to our Bartering page for more information on bartering income and bartering exchanges.

If you receive income from bartering, you may be required to make estimated tax payments. Refer to Publication 525, Taxable and Nontaxable Income, for additional information.

http://www.irs.gov/t...pics/tc420.html

If you want to get that technical, youre also supposed to report ALL income/sales from even garage sales. So... who does that?

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