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RV and Income TAxes

GLG

By GLG,
in Tax Discussion

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NWGUY Grand Master

NWGUY

Posted
Posted

Just some advise, in case you didn't think about it. Remember, that we have to fill out paperwork for the IRS, and they will know, who cashed in Dinar, and how much. Knowing our government, they will be expecting their share, and unless you are in the definate dark area, I would pay them what you are suppose to. If not, I would be nervous about all the visits, down at their office.

Accept the blessing, but don't hang out in the gray area's. JMO :rolleyes:

GO RV!! :rolleyes:

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tileman1814 Newbie

tileman1814

Posted
Posted

PAY YOUR TAXES.It is not worth trying to side step the IRS.It will cost you so much more if you get caught cheating,besides you are going to have a ton of money even after the taxes.Find a GOOD tax attorny and a GOOD accountant.Get a plan,don't trust anyone,change your phone number and your email and bank accounts.

Here is a web page that will explain the taxes in lamen trems.Good Luck!

http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Semper Fi !!!

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automag Newbie

automag

Posted
Posted

yeah hold dinar for one year and then cash it in. or smuggle to an off shor

account and hope like he'll u don't get caught.

I think my first serious post was about this.................Now that you have suggested that this guy haul it down to some other country.....let me remind you of this.

You are under arrest. You have the right to remain silent. ANYTHING you say can and will be used against you in a court of Law. You have a right to an attorney. If you are not able to afford an attorney the court will appoint one to you. Do you understand your rights? Say hello to your new girlfriend ...........Miranda.

You see I was lurking as a newbie and some guys were posting all these little schemes about how to evade taxes which I found incredulous because they were going on about it on this site. Hey I'm all for reducing my taxes legally but these dudes were thinking of every way they could....Not to Pay the Tax. Being in the field of communications and being somewhat knowledgeable about FCC Tariff law and other legalities regarding communications, (I am no expert), I had an oppourtunity to ask those who are experts about the consequences of such a discussion. Well it turns out the answer I was given was a quote of the Miranda declaration at the time of an arrest. I even expressed my surprise as this was just a bunch of guys hanging out and shooting the breeze............But my expert was darn serious about it. He said look at what we have here....We have citizens sitting around discussing Tax evasion plain and simple. He reminded me of all the high profile legal cases going on at the time and he said that looking into Our computer activities was easy for any policing organization to research.....Thus not only did they discuss it they also wrote it down in plain English for the whole world to see. It's even archived right here in our little forum. I countered with a well H*lls Bells. If I could be prosecuted for all the things I ever said then I'd have a whole lotta company in prison....He said Yup. But then you didn't post all of that in writing on the Internet now did ya. Plus look at the totallity and the context of the evidence. These guys are invested in the Iraqi Dinar and as absurd as it seems it might actully pay off. Then what if these guys do try and evade their taxes as a result of a huge windfall.....They are going to jail and it won't be hard to convict them as they wrote it all down for a prosecutor and a jury to see. Even if they were just joshin if a DA had this conversation it would extremely difficult to defend themseleves from prosecution.....My answer was OMG.

So I decided that from now on I would be very careful as to what I post online........I would self censor myself because who knows what the H*ll could happen....I know you were kidding about that advice right? Well I'll give you the benefit of a doubt..........But will some legal beagle do the same? Especially if that legal beagle is up for election?............Becareful bubba.....Just be careful. Trust me I am not being critical of your post at all. In fact i am being very friendly... I'd really hate to see anyone go to jail for just joking around and even though it might seem far fetched just watch the trial on TV right now about Casey Anthony....They examined her e-mails as if they looking at dad's Playboy magazine............No!!!!! Not the pictures........Just the words. ;)

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bopll Newbie

bopll

Posted
Posted

I agree with all people- pay your taxes. But the Government also offers legitimate legal ways for you to save your money. An easy way to do this would be to open a self directed Roth IRA. There are a # of companies that do this service. One highly respected one is Entrust. Google Entrust and the information will give you Entrusts home site, then you can call your nearest office to start a self directed Roth IRA. This procedure requires Entrust to purchase Dinars for you and hold them in a safe place for storage. I use First Street Depository. Then being the good citizen you are you will pay taxes on your personal dinar holdings and you will not have to pay taxes on the dinars you purchased with your Roth IRA as all gains with this self directed Roth IRA are tax free. You can even buy precious metals, real estate and many more options. You may put in 5 to 6 thousand a year depending upon your age. The one catch to this is you cannot withdraw any money from your Roth IRA without penalties until you reach the age of 591/2. After that all withdrawals are TAX FREE. In my case that is fine as I am past that age. Still it is a legal legitimate way to save on taxes.That is why our government set up Roth IRA"S.

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Heavyduty053 Newbie

Heavyduty053

Posted
Posted

I agree with all people- pay your taxes. But the Government also offers legitimate legal ways for you to save your money. An easy way to do this would be to open a self directed Roth IRA. There are a # of companies that do this service. One highly respected one is Entrust. Google Entrust and the information will give you Entrusts home site, then you can call your nearest office to start a self directed Roth IRA. This procedure requires Entrust to purchase Dinars for you and hold them in a safe place for storage. I use First Street Depository. Then being the good citizen you are you will pay taxes on your personal dinar holdings and you will not have to pay taxes on the dinars you purchased with your Roth IRA as all gains with this self directed Roth IRA are tax free. You can even buy precious metals, real estate and many more options. You may put in 5 to 6 thousand a year depending upon your age. The one catch to this is you cannot withdraw any money from your Roth IRA without penalties until you reach the age of 591/2. After that all withdrawals are TAX FREE. In my case that is fine as I am past that age. Still it is a legal legitimate way to save on taxes.That is why our government set up Roth IRA"S.

Makes good sence

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ExecConsult Newbie

ExecConsult

Posted
Posted

I agree with all people- pay your taxes. But the Government also offers legitimate legal ways for you to save your money. An easy way to do this would be to open a self directed Roth IRA. There are a # of companies that do this service. One highly respected one is Entrust. Google Entrust and the information will give you Entrusts home site, then you can call your nearest office to start a self directed Roth IRA. This procedure requires Entrust to purchase Dinars for you and hold them in a safe place for storage. I use First Street Depository. Then being the good citizen you are you will pay taxes on your personal dinar holdings and you will not have to pay taxes on the dinars you purchased with your Roth IRA as all gains with this self directed Roth IRA are tax free. You can even buy precious metals, real estate and many more options. You may put in 5 to 6 thousand a year depending upon your age. The one catch to this is you cannot withdraw any money from your Roth IRA without penalties until you reach the age of 591/2. After that all withdrawals are TAX FREE. In my case that is fine as I am past that age. Still it is a legal legitimate way to save on taxes.That is why our government set up Roth IRA"S.

For dinar investors, the Roth IRA is the best possible way to save taxes.

The company I have been recommending to people is NAFEP.com. Everyone I have spoken with who has used them has been very happy and they will hold the dinar in one of their gold vaults.

It is also important to note that it may be possible to get around the waiting period and penalties. Please see the following post by "On_Reserve" for some details:

Other things to consider would be:

1) If you live in a state that has state income taxes, use "estimated tax payments" to pay your state income tax bill in the same year as you received the income. This way when April of the following year rolls around and you are figuring taxes, the amounts paid to the state are deductible against the income for federal taxes.

2) Oil and Gas investments - Oil and Gas investments have deductions which are sometimes even greater than the income generated. If you invest wisely, you could have huge deductions to offset your income from the dinar & then you can have continued income from the investment and continued deductions to offset income.

3) IF you are charitably inclined you should seriously consider Charitable Lead Trusts, Charitable Remainder Trusts, and other similar charitable planning instruments

4) Any gift to charity should be made in physical dinar and should be made post-RV so you can get a bigger deduction for your charitable gift (or at least have the argument to be able to claim the large charitable deduction)

Best of Blessings,

Mark

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