Obama to eliminate capital gains tax

[valu]

muspublisher i have a business account that i used to pay for my dinar. it is not an llc but that is my next move. thanks for the excellent advice.

look folks, don't assume. talk to a very good cpa for this. you can bet you last dinar that the big boys do it and they use that advice on their tax returns. jmo

[Muspublisher]

Setting up a small business is not playing games, it is done all of the time and muspublisher is correct in how to do it. However there may be contingincies on size of small business and how much the cap gains will be excluded on. In my experience this is a wait and see. The other shoe may drop making this not nearly as good as it sounded when spoken.

I am also thinking that suddenly dumping the money in a biz account might also be tagged as some sort of fraud, tax evasion, money laundering or some other "gotcha" tactic our wonderful gov't has up their sleeve to deprive us of our life, liberty and the pursuit of happiness. LOL

I agree that there could be contingencies.... and the IRS may just up and change the rules for how dinar investment will be looked at. But at it stands now, with dinar being put into the category of capital gains (this is the IRS who put it there), you could absolutely have your business own the dinar and not pay taxes; IF, and that is a huge IF, there were a suspension of capital gains taxes for small business. There is nothing illegal about doing it. Nothing fishy. It's knowing the tax law and using it to your advantage.

It's not really about what the investment is, it's how the IRS will slot the investment into the tax code. And right now, dinar is a capital gain.

[joseph]

Then, would I have a tax lost if I bought at $1.00 and sold at .50 cents ?

[Muspublisher]

Then, would I have a tax lost if I bought at $1.00 and sold at .50 cents ?

Yes, this is correct. However, and this goes with everything I've said, don't take my word for it. Consult a competent cpa or other tax professional. I am not a tax professional. But my wife is and it was her, as well as her partners, recommendation that dinar be bought through the company specifically for tax reasons. So we did. All that I've said previously comes from her and those she is partners with.... all very competent tax professionals.

[IrishinDenver]

Amen to that watcher

[jackdavis1364]

Unfortunately it does not apply to us at this particular moment, however, things have a way of changing if it helps ole "big ears".

[spede67]

Its amazing how stupid and at the same time all out and out crooked some people WANT to Be.

[Barbann]

Finding a loop hole in the tax law is neither crooked or stupid..try to maintain some level of respect here please

[valu]

Its amazing how stupid and at the same time all out and out crooked some people WANT to Be.

and who is stupid and crooked?

[catgomeow]

So if i bought through my co. I would not have to pay CG tax at cash in thats how i heard it.

[catgomeow]

But then my co. would own the Dinar. No tax on small bussiness 2010

[catgomeow]

O said it in the state of the uion address. WOW! I bought through my Co. I hope i qualify.

[excursion]

A company set just to hold an investment, like dinars or stocks, etc. will have strict guide lines from the IRS as to tax status and capital gains. It may not qualify for standard treatment from a tax stand point as would a company that is set up for consulting or some other business purpose. Also, it does not matter what you call it, if all of it's material actions/revenue are for the investment then it is an investment company. I would not play games with these type issues. One move in the wrong direction it could be fraud which has a 100% penalty and could include jail time. Granted I think that we pay too much in taxes but we still live in the greatest country in the world and pay less taxes then most of the rest of the world. Pay the legal minimum tax and go on about enjoying your investments.

[tommy17]

watcher your the man, i could not have said it any better..

[Jewel]

Regardless of the irs perspective on this investment as a small business or not it might be a good idea to still get in touch with a tax atty to assist with this investment

[countryboy]

In President Obama's state of the union address, he stated he wanted to eliminate ALL capital gains tax on small business investment. Now I know that may seem like a strech to think he might eliminate or cut capital gains tax on our investment, just being hopefull.

statement is about 7 min. into clip.

Have you ever heard this...."when donkeys fly"