Dinar Rumor Citibank hires?

[bstephie123]

banks can NOT withhold immediately from your gain; and you are right, there is no choice in the matter...it is capital gains tax and it's computed through your own personal taxes, the bank REPORTS the transaction to the IRS and you settle up with them. I don't think there is a reputable bank in the US that would help ANYONE dodge any tax liability, for any reason what so ever. Let's just say this does happen in 2010; you would not pay any taxes on it until you file your federal income taxes next year (in 2011 for 2010). You are liable for the taxes, so you need to have a good understanding of what the tax implications will be when the time comes, and if you are smart you will set that money aside to settle up with the IRS in 2011 for the gain you had in 2010. You do however have the OPTION to report it early if you chose not to wait until tax time the following year, you can make an estimated gain tax payment whenever you want to, but I would rather let mine sit in MY bank account somewhere and draw interest in MY ACCOUNT not the governments.

[bstephie123]

nascardman - you don't pay capital gains taxes quarterly, it's all done through your federal tax return which is annually not quarterly. The amount doesn't change that and the amount doesn't dictate what type of tax it is, trust me; you will settle up on the tax portion of this journey in the year following the cash in/gain

[wilecoyote]

banks can NOT withhold immediately from your gain; and you are right, there is no choice in the matter...it is capital gains tax and it's computed through your own personal taxes, the bank REPORTS the transaction to the IRS and you settle up with them. I don't think there is a reputable bank in the US that would help ANYONE dodge any tax liability, for any reason what so ever. Let's just say this does happen in 2010; you would not pay any taxes on it until you file your federal income taxes next year (in 2011 for 2010). You are liable for the taxes, so you need to have a good understanding of what the tax implications will be when the time comes, and if you are smart you will set that money aside to settle up with the IRS in 2011 for the gain you had in 2010. You do however have the OPTION to report it early if you chose not to wait until tax time the following year, you can make an estimated gain tax payment whenever you want to, but I would rather let mine sit in MY bank account somewhere and draw interest in MY ACCOUNT not the governments.

That is my understanding as well from my tax attorney. A little difference but not enough to post.. Get you a good tax guru..

[Stewsday]

Seek professional tax help. If all else fails, ask Possum or Medic. They spread it as well as anyone on this site!!!

[Ftworth]

I guess most of you have never been out side of the USA for more than a vacation trip. Offshore some where is a much better place to cash out your money. If you think you are going to be so rich, do what rich people do, move your money into different banks that are much more stable then in the USA. Pay more interest, you have just as much flexibilty. You can have a check card from visa, mastercard, whoever, savings account that pays 5-6% and its not locked up, you can put your money in euros or whatever,you have a choice. It will cost you about 2500.USD to set up an offshore corporation by an attorney in that country of origin, take your time don't move with doing your due diligence, understand the laws and what you must do to keep it in good standing in the country of your choosing. Ther are alot of books that can explain the process and what to do and what to look for and beware of, I've had one for 12 years and no problems, unless I just want to go down and ask to see all of my cash in one place,look at it, then tell them to put it back in their safe, I would need to get on a plane. You can look at it just like you do here, on your computer. How do you get your dinar to a offshore bank. Fly there and this is a secret dont tell anybody, but FedX and UPS they can find you where every you go, I'm saying don't carry more than whats legal on a plane. Above all pay your taxes to the IRS, because if this turns out to be a bust and you lose, how much do you think they will allow you to write off on your big investment. This is what works for me, thats just something else to look at.

[seattle]

Tax is owed when they say it is. i.e. business withholdings monthly paychecks when made out

lotto before u spend it. There are a lot of tax laws. But who cares. as long as (WE OWE) thats

a (good thing) dont ya think.

[calguy]

Taxes are due to be paid by December 31st of every year. You can take your money and use it until they are due, you do not have to pay by quarter, but it is recommended. I would recommend that you take your money and put it into insured CD’s or CDAR’s. No matter how bad the FDIC is the US government is required to cover the losses on CDARS and these insured CD’s (CDARS) is up to 50 million in insurance with very good returns on the interest rates.

Good luck…

[gman51]

I am a CPA and have never heard of this. There are so many tax shelters that people can use to drive down there capitol gains tax before it is due at the end of the year. Nobody has the right to withhold money to pay capitol gains tax. That part of the story is false. Casinos only withhold taxes if you do not have proof of your Social Security number.