Cashing In

by jabberwockey Sat Dec 31, 2011 4:56 pm

Can someone explain (or point me to reading material here) on how/why I would want to use an LLC to cash in vs. just cashing in myself in my name?

Are they saying the LLC should own any Dinar that is to be cashed in?

Is there somehow a way to legally avoid taxes in cashing in Dinar with an LLC? In my understanding, money from an LLC flows to my personal income anyways so I don't understand this.

Bank Accounts ... is there not a $250K limit on the FDIC of any bank account? If that is the case and I cash in $5M Dinar and it RVs at a 4 rate, now I have $20M USD ... do I have to split that amongst 80 separate accounts in order for it to all be FDIC insured?

Thanks.

by bswillia Sat Dec 31, 2011 4:58 pm

SECURITY!!!

by Bruno Sat Dec 31, 2011 5:35 pm

FIRST: I am by no way an expert on this. I am only repeating what i believe to be correct.

1. $250,000 FDIC limit for individual in their savings account. $500,000 for a couple.

2. Unlimited amount covered by FDIC if deposited into a NON-INTEREST bearing checking acount. I believe there are strict definitions as to what is considered a non-interest bearing checking account. Be sure before you do.

3. WHY put anything into a non-interest account? UNLESS it is for a temporary resting place before getting it into a a better account.

PLEASE. ANYONE correct any error I may have made in my assumptions.

by Guest Sat Dec 31, 2011 5:36 pm

Take the AJAnderson asset protection class and you will get the answer to your question. The answer is to much to explain in a thread. But, in a nut shell, there are 11 more tax deductions corps get to take over the private citizen. AJ

jabberwockey wrote:Can someone explain (or point me to reading material here) on how/why I would want to use an LLC to cash in vs. just cashing in myself in my name?

Are they saying the LLC should own any Dinar that is to be cashed in?

Is there somehow a way to legally avoid taxes in cashing in Dinar with an LLC? In my understanding, money from an LLC flows to my personal income anyways so I don't understand this.

Bank Accounts ... is there not a $250K limit on the FDIC of any bank account? If that is the case and I cash in $5M Dinar and it RVs at a 4 rate, now I have $20M USD ... do I have to split that amongst 80 separate accounts in order for it to all be FDIC insured?

Thanks.

by Bruno Sat Dec 31, 2011 5:38 pm

Thank you AJ.

by Guest Sat Dec 31, 2011 5:44 pm

The other answer about flowing to your person, that will depend upon which classification the LLC takes under the corp tax law. The LLC can elect either under C, S or B corp as an L3c. I can tell you that S corp is the best if you do not plan to do charitable contributions. The S corp has better Fed business tax deductions, about half over the C corp.

Also, no matter which corp you choose, if you trade the IQD for stock before cash in and the value becomes whatever in realtion to the amount you traded, there is no tax due to either the corp or you personally, until you make distributions to you, then there are taxes due by you.

Do not do big distributions.

AJ

by his4evr2c Sat Dec 31, 2011 5:48 pm

:rendeer: Where's Frosty the Snowman? Good job AJ

Happy New Year

by Guest Sat Dec 31, 2011 5:50 pm

Example 1:

You and Bill Jones buy property for $100,000 (this could be the value of the dinar at purchase). You both organize a corporation when the property has a fair market value of $300,000 (this could be the value of the dinar after cash in). You transfer the property to the corporation for all its authorized capital stock, which has a par value of $300,000. No gain is recognized by you, Bill, or the corporation. [Emphasis and additions mine]
See this IRS publication: http://www.irs.gov/publications/p542/ar02.html

by Guest Sat Dec 31, 2011 6:00 pm

Here is another tax savings tip corp. vs. private citizen or person:

The private citizen is dependent upon domicile, so if you are domiciled in MA, your going to pay 12% state cap gains on the cash in value and FED ordinary income or cap gains taxes on the same, whichever you elect.

If the corp is domicled in Nevada, you have no state cap gains, income or corp. taxes. The only thing you pay there is filing fees every year to keep the savings going. Plus the Fed taxes due.

AJ

by jabberwockey Sat Dec 31, 2011 6:03 pm

AJAnderson wrote:Take the AJAnderson asset protection class and you will get the answer to your question. The answer is to much to explain in a thread. But, in a nut shell, there are 11 more tax deductions corps get to take over the private citizen. AJ

Is there an AJAnderson Asset Protection Class???
If so, what/where/when?

I already own 7 LLCs and each is a profitable business, but the LLC is essentially for liability protection within the business. I also already have a trust where all my assets and real estate is for protection as well.

What I need to figure out is how to protect the amount of USD I will have if there is an RV. If I can avoid state tax, that alone could save literally a million dollars compared to the state I live in (assuming I spend the money on a Nevada corporation, for example). There is so much information out there it takes an attorney to understand it all. I guess with this amount it will pay to spend that $350+/hr to an attorney to help me save as much as possible. Unfortunately, that could take 3-4 weeks to get in and talk prior to cashing in.

by Guest Sat Dec 31, 2011 6:14 pm

The class is under Asset Protection Class by AJAnderson found under the general discussion thread, if it is not scolling I will make it scoll right now. Tax tip for you.

You are already set up, with the exception that if you have already expended the general stock in any of your LLCs or all the CBI's in your trust, then you will need to create a new trust or LLC or where those LLcs are domiciled. Read above on the stock trade tax savings tip and read the IRS publication in that post.

AJ

jabberwockey wrote:
AJAnderson wrote:Take the AJAnderson asset protection class and you will get the answer to your question. The answer is to much to explain in a thread. But, in a nut shell, there are 11 more tax deductions corps get to take over the private citizen. AJ

Is there an AJAnderson Asset Protection Class???
If so, what/where/when?

I already own 7 LLCs and each is a profitable business, but the LLC is essentially for liability protection within the business. I also already have a trust where all my assets and real estate is for protection as well.

What I need to figure out is how to protect the amount of USD I will have if there is an RV. If I can avoid state tax, that alone could save literally a million dollars compared to the state I live in (assuming I spend the money on a Nevada corporation, for example). There is so much information out there it takes an attorney to understand it all. I guess with this amount it will pay to spend that $350+/hr to an attorney to help me save as much as possible. Unfortunately, that could take 3-4 weeks to get in and talk prior to cashing in.

by Guest Sat Dec 31, 2011 6:45 pm

I will have an Asset Protection 101 Book ready to purchase sometime between the 5th and the 10th for a small nominal fee of $29.95. The book will be a good tool for you to read over and over again to gain questions you may have to ask your asset protection attorney or tax professional about. And to learn how to operate your entities within the law, so that you do not get into an atler ego place with the Federal or State governments. AJ

by MiddleClassMaiden Sun Jan 01, 2012 5:56 am

AJAnderson: GREAT NEWS re: your Asset Protection 101 Book.

Is your class still on? How does one sign up for the class?

THANK YOU for your tireless diligence and commitment to keeping the Dinar Family informed and grounded.

May THIS be the Happiest, Most Blessed and Overwhelmingly PROSPEROUS year of your life!

AJ, You deserve the VERY BEST!

by Guest Sun Jan 01, 2012 8:46 am

Send an email to AJanderson@oomteam.com and just ask to be signed up. AJ

MiddleClassMaiden wrote:AJAnderson: GREAT NEWS re: your Asset Protection 101 Book.

Is your class still on? How does one sign up for the class?

THANK YOU for your tireless diligence and commitment to keeping the Dinar Family informed and grounded.

May THIS be the Happiest, Most Blessed and Overwhelmingly PROSPEROUS year of your life!

AJ, You deserve the VERY BEST!

by heyitsdavids Sun Jan 01, 2012 9:09 am

I am assuming when they talk about the oven being at 400 degrees they are predicting the rate to be around $4.00...? What are they were referring to when they talk about the 747's?

by tnbulldog Sun Jan 01, 2012 9:28 am

jabberwockey wrote:Can someone explain (or point me to reading material here) on how/why I would want to use an LLC to cash in vs. just cashing in myself in my name?

Are they saying the LLC should own any Dinar that is to be cashed in?

Is there somehow a way to legally avoid taxes in cashing in Dinar with an LLC? In my understanding, money from an LLC flows to my personal income anyways so I don't understand this.

Bank Accounts ... is there not a $250K limit on the FDIC of any bank account? If that is the case and I cash in $5M Dinar and it RVs at a 4 rate, now I have $20M USD ... do I have to split that amongst 80 separate accounts in order for it to all be FDIC insured?

Thanks.

They sell you an LLC set up and make more money off you.

by hanwoz Sun Jan 01, 2012 10:58 am

I think the biggest mistake any one can make is to avoid paying taxes. You can try to minimize the tax but change your mindset a little to be compliant and use a tax lawyer or accountant to protect yourself and your money. Bite the bullet pay a little tax until you have your tax strategy set up..and go from there.

by Guest Sun Jan 01, 2012 11:10 am

This is the best advice one can get, see below. Minimize your taxes, but do not use tax evassion so called techniques, that will be your demise! The IRS wesite is full of good tax advice and the tax attorneys know how to use them. AJ

hanwoz wrote:I think the biggest mistake any one can make is to avoid paying taxes. You can try to minimize the tax but change your mindset a little to be compliant and use a tax lawyer or accountant to protect yourself and your money. Bite the bullet pay a little tax until you have your tax strategy set up..and go from there.

by Dinar4silver Sun Jan 01, 2012 11:58 am

A profound thought for this New Years Day:

Cashing in will always be preferred to "checking out"!

by loulou Sun Jan 01, 2012 12:38 pm

there is a way to plan for tax deferrment , 100%
come to the big calll tonight @ 8 est

7605697676 pin 800 733#

here about the 911 trust

by humingbyrd Sun Jan 01, 2012 4:23 pm

Dinar4silver wrote:A profound thought for this New Years Day:

Cashing in will always be preferred to "checking out"!

The bigger question is which will occur first? confused

by Dinar4silver Sun Jan 01, 2012 4:30 pm

humingbyrd,

Oooohhhh that's good!

Ok, I've got a coin, we'll flip to see which will come first!

by humingbyrd Sun Jan 01, 2012 6:47 pm

Dinar4silver wrote:humingbyrd,

Oooohhhh that's good!

Ok, I've got a coin, we'll flip to see which will come first!

OK that coin in your avatar, is that heads or tails? Laughing

by Fiddlehead39 Sun Jan 01, 2012 7:52 pm

Aj: Would it be better to cashout a 10k note and then setup a business trust for cashing out the remainder of ones dinar. After that is accomplished would it be wise to transfer the assets of the Business trust to a corporation (S type)?? Reason being for the advantages that a corporation provide.

by therealbutterfly Sun Jan 01, 2012 10:07 pm

loulou wrote:there is a way to plan for tax deferrment , 100%
come to the big calll tonight @ 8 est

7605697676 pin 800 733#

here about the 911 trust

Stop spamming for business...

by Bruno Sun Jan 01, 2012 10:13 pm

However, it still has not RV'ed yet. So all the what ifs don't mean squat. But I'm sure SOME DAY it will RV. My great grandchildren may the lucky recipients of the new RV. By then, however, it may cost $2,500.00 for a hot dog.

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