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N00B quest about post RV and cashing in

NeedRv

By NeedRv,
in RV & Dinar Questions

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NeedRv Apprentice

NeedRv

Posted
Posted

Hello first off let me say i have had my dinar for about almost 8-9 year just waiting checking in every couple months...looks like its so close now I have been dreaming about post RV...

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

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Anti This Anti That Newbie

Anti This Anti That

Posted
Posted

Hello first off let me say i have had my dinar for about almost 8-9 year just waiting checking in every couple months...looks like its so close now I have been dreaming about post RV...

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

You best pay what they say you will owe, or find yourself in prison.

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TexasFisherman Newbie

TexasFisherman

Posted
Posted

NeedRV, I love the name and we all need the RV for sure.

To answer your question about tax, YES, you will be required to pay some tax. It is calulated on the gain on the investment not the cash you get. Let's say you pay $10,000 for Dinar or any other investment, hold it for a year, sell for $1,000,000. You would have gain on the investment of $990,000 and that is what you would pay tax on.

How much will depend on factors I cannot answer but a good tax attorney or accountant can answer that. HOWEVER, the gain you will receive should be well worth it. Lest that is what I am telling myself!

Come on RV, give us the problems of paying tax and what to do post RV. Especially the AFTER PARTY!

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NeedRv Apprentice

NeedRv

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Posted (edited)

Thanks texasfisherman, figures that IRS would want to SHARE my "Joy" once the RV comes... they always want to take some of everyones JOY :blink::huh:

now along with the IRS, its now a CPA and or a tax attorney to subtract from the bottom line <_< ....but i guess IRS will need to get paid no matter what.....ill be damned if i fall victim to owing the IRS... if they want 35% then guess they get it... BOO!!!!!

hopefully there will be something left for ME to spend...

guess more money more problems! :P

Edited by NeedRv
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Tom 777 Newbie

Tom 777

Posted
Posted

Hello first off let me say i have had my dinar for about almost 8-9 year just waiting checking in every couple months...looks like its so close now I have been dreaming about post RV...

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

Why do people try to get by with doing the wrong thing when the results would be so devestating to what ever profit you will make and the hardship that comes with it for years to come. Just pay your taxes and enjoy what you do have without any headaches.

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Blu Collar Guru Newbie

Blu Collar Guru

Posted
Posted

Hello first off let me say i have had my dinar for about almost 8-9 year just waiting checking in every couple months...looks like its so close now I have been dreaming about post RV...

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

CAPITAL GAINS TAX WILL BE DUE ON THE TOTAL OF YOUR INVESTED RETURN. I DO BELIEVE IT'S APPROX 35% HOPE THAT HELPS YOU OUT AND IF NOT JUST SPEAK WITH AN INVESTMENT BANKER OR TAX ATTORNEY. cool.gif

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The Machine Newbie

The Machine

Posted
Posted

Hello first off let me say i have had my dinar for about almost 8-9 year just waiting checking in every couple months...looks like its so close now I have been dreaming about post RV...

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

I really hope you didnt buy your dinar 9 years ago ..... that was 2002 and the old Saddam notes were in circulation........the current dinar didnt come out till October 2003 if you bought then you were probably one of the first and have already doubled your investment, i've never known anyone in as long as you, how have you kept your sanity all these years lol....... as far as tax's go, do yourself a favor and pay them and run for the hills with your money before they come up with another way to take more from you.

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NeedRv Apprentice

NeedRv

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sorry i mis-calculated.....but i have had the NEW dinars since they first came out....

:blink: i kept my sanity by kinda forgetting about them for a long time....with the occasional check up and see how they were doing....but for the most part I bought them and left it alone....but now with all the talk about RV its making me anxious :unsure:

nah im going to pay up and spend the rest... hopefully it will RV around 3$ cause back then being unsure only bought a minimal amount... so a 3 or so will give me a nice bit to play with... like winning the lottery... (scratch-off)

i guess i will consult a CPA/or attorney and see what needs to be done... 35% it is....

thanks

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Patriotic_mess Newbie

Patriotic_mess

Posted
Posted

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

I think there is a way to pay less taxes if you roll your profits into something else, but like others have said a good CPA can give you good advice on how to keep more money legally.

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NeedRv Apprentice

NeedRv

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I was thinking about some thing...and please forgive my ignorance...but what and how is the IRS going to know we cashed in....i mean until now there is no real "paper trail" unless <_< will we need to fill out some sort of paperwork when we go to cash in/exchange?? (again forgive my ignorance as im not a "regular" exchanger of money and actually this will be my FIRST time)

has somebody here exchanged a decent amount of money before....IS there paperwork needed to fill out b4 the exchange is made...then that will most likely answer my question.....

thanks

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radar47 Newbie

radar47

Posted
Posted

Why do people try to get by with doing the wrong thing when the results would be so devestating to what ever profit you will make and the hardship that comes with it for years to come. Just pay your taxes and enjoy what you do have without any headaches.

I concur. GO RV!!!!

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umbertino Grand Master

umbertino

Posted
Posted

Oh please... this talk of "imminent RV" has been around longer than this week......

Since 2004 if I recall correctly.

And...Talking about taxes... Now that my Gov't (Italy) found out all of a sudden we're in deep doo doo ..They are trying to collect money off us common folks ( what a news , huh) everywhichway so new and creative taxes will be implemented soon... Some are a real novelty like taxing all the games wins ( lotto games, scratch cards, etc.).

Starting Jan.1,2012 all the wins superior to EUR 500 will be taxed at 6%. Until now they used to be totally un-taxed...

Even those winnng fabulous amounts with SuperEnalotto ( a game like MegaMillions or similar ) didn't have to pay a red cent of a Euro.

Biggest win was last year: 178 Million EUR ( tax-free) . And here they give it all to the winner(s) in a lump-sum. Not through the years.

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Crow Newbie

Crow

Posted
Posted

Hello first off let me say i have had my dinar for about almost 8-9 year just waiting checking in every couple months...looks like its so close now I have been dreaming about post RV...

My "hypathectical" question is once RV and cashing in.....will I need to pay taxes on the cash i get? and if so can there be some sort of workaround to that.??

thanks...

:rolleyes:

If this ever comes through, I WOULD NEVER EVER TRY TO GET AROUND ANYTHING WITH THE GOVERNMENT!!!! Get a tax attorney and make sure they back up what they do!!! DO NOT ALLOW YOURSELF TO LOSE WHAT YOU HAVE GAINED...EVEN IF YOU HAVE TO PAY 40% OF WHAT YOU JUST RECIEVED!!!! I WOULD RATHER KEEP 60% OF SOMETHING I NEVER HAD BEFORE!!!!! IMHO!!!! I do think Adam has a plan for spread and so forth, so check with him and his program!!

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