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Bob the TaxMan says to GIFT people DINAR so you don't have to pay the taxes on it
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Bob the TaxMan says to GIFT people DINAR so you don't have to pay the taxes on it
by roxy22222222 Sat Sep 09, 2017 9:31 pm
BobTheTaxMan
If you are going to give away dinar as dinar, keep it as dinar.
Remember I told you earlier the moment you take it to the bank to cash it in, it is a taxable transaction.
When you gift dinar, I doubt for the most part you’re going to give away $14,000 dollars that you paid for the dinar to somebody.
Let’s say for example you’re going to give them a million dinar and you paid $1,000 dollars for that million dinar that’s only $1,000 on the gift tax that’s it…Not reportable.
You don’t have to worry about it. You’re allowed to give away $14,000 (If you’re married you’re allow to give away $28,000) without having to report it.
It doesn’t reflect back into your estate tax at all.
Make sure you gift it in a statement and you do it in dinar.
Do not make the mistake of cashing it in and then giving it. When the recipient gets that money along with the agreement/arrangement you’ve made…when they cash it in, it becomes taxable to them not to you...
[NOTE: This should NOT be considered tax or investment advice. It is purely informational and the views of this guru. Speak to your own tax and investment professional at the appropriate time.]
09.10.2017
~~~~~~~~~~~~~~~~~~~~~~
As soon as you determine that and you have this idea--you’ve decided you’re going to cash in X amount or whatever percentage you have at whatever rate appears to be at this time, plan on the taxes. My invitation to you is to pay it the day you cash it. Don’t wait. Pay it. Get it out of your life…then after that everything you have left over is all yours you can do what you want with it…Income taxes are going to be applicable. A lot of people are going to come back and say “What about capital gains tax.” This particular investment is not going to be treated as capital gains…It’s going to be treated as ordinary income. Which makes it subject to tax brackets…federal and state…Plan on these taxes and act accordingly. [Post 2 of 2 NOTE: This should NOT be considered tax or investment advice. It is purely informational and the views of this guru. Speak to your own tax and investment professional at the appropriate time]
If you are going to give away dinar as dinar, keep it as dinar.
Remember I told you earlier the moment you take it to the bank to cash it in, it is a taxable transaction.
When you gift dinar, I doubt for the most part you’re going to give away $14,000 dollars that you paid for the dinar to somebody.
Let’s say for example you’re going to give them a million dinar and you paid $1,000 dollars for that million dinar that’s only $1,000 on the gift tax that’s it…Not reportable.
You don’t have to worry about it. You’re allowed to give away $14,000 (If you’re married you’re allow to give away $28,000) without having to report it.
It doesn’t reflect back into your estate tax at all.
Make sure you gift it in a statement and you do it in dinar.
Do not make the mistake of cashing it in and then giving it. When the recipient gets that money along with the agreement/arrangement you’ve made…when they cash it in, it becomes taxable to them not to you...
[NOTE: This should NOT be considered tax or investment advice. It is purely informational and the views of this guru. Speak to your own tax and investment professional at the appropriate time.]
09.10.2017
~~~~~~~~~~~~~~~~~~~~~~
As soon as you determine that and you have this idea--you’ve decided you’re going to cash in X amount or whatever percentage you have at whatever rate appears to be at this time, plan on the taxes. My invitation to you is to pay it the day you cash it. Don’t wait. Pay it. Get it out of your life…then after that everything you have left over is all yours you can do what you want with it…Income taxes are going to be applicable. A lot of people are going to come back and say “What about capital gains tax.” This particular investment is not going to be treated as capital gains…It’s going to be treated as ordinary income. Which makes it subject to tax brackets…federal and state…Plan on these taxes and act accordingly. [Post 2 of 2 NOTE: This should NOT be considered tax or investment advice. It is purely informational and the views of this guru. Speak to your own tax and investment professional at the appropriate time]
roxy22222222- GURU HUNTER
- Posts : 2881
Join date : 2015-04-20
Re: Bob the TaxMan says to GIFT people DINAR so you don't have to pay the taxes on it
by Ponee Sun Sep 10, 2017 10:42 am
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Ponee- Admin
- Posts : 38267
Join date : 2011-08-09
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