Ray's Week

by **Ssmith** Sun Dec 07, 2014 7:41 am

Last week TNT held a Chatathon for Tony. This week TNT is pushing for people to pay $495 to attend brother Ray's Tax Evasion Seminar.

Saturday Afternoon Tidbits of Wisdom from Chat	Permalink

I'm sure there was more to this conversation, but it had already scrolled off when I got back in, so here's what I caught. It's good stuff! Thanks Iko luvwulfs wrote 37m ago Make sure you have all receipts Any currency without receipt will automatically be short term Iko Ward wrote 37m ago I'm doing the 50% just to be sure. But I will tell you, guys, when you start talking over a million dollars in income the whole world changes. It's not fair to the average person, but it is what it is nonetheless. You will literally be amazed at what you can do when you pay an experienced pro. This is why I say get used to being elite. You are about to become one. Faith01 wrote 37m ago IKO: what are your thoughts on the dong tax rate? All I've heard is about the dinar possibly having a specific tax rate applied but nothing about the dong. Either way I'm gonna put 50+% aside just in case but I'm just trying to find out the options!?!? Iko Ward wrote 36m ago Faithg, I think they will be treated the same in the end. Now what that will be is the question. Fishon wrote 35m ago Now your talkin IKO I will hire a heavyweight Tax and Legal pro! Iko Ward wrote 34m ago Remember folks, the current elite control the puppet strings. They will do everything they can to minimize tax exposure and we will benefit. Strange bedfellow, for sure. oxygensuzanne wrote 34m ago Iko is there any merit to Jim Willie's new talk about the BRICS and gold is the tradeable currency between nations for oil for gold. So it seems to that the BRICS currencies will have great value just like Tony said years ago Iko Ward wrote 31m ago Oxe, I just don't know yet. My plan is to park it all and spend 24/7 interviewing professional and attending seminars and doing my own research. Iko Ward wrote 33m ago Fishion, even if the guy wants 1% to manage the whole shebang it will pay off in spades. That's about what I am paying when I combine the CPA, Adviser and attorney fees. Glad to do it. ninjagran wrote 33m ago Any asset held over a year is long term. That saves about 15% in capital gains tax. luvwulfs wrote 32m ago Iko is that about the range 1% we should be looking to pay the pros? dogmom43 wrote 32m ago Iko - 1% of what? gains, assets? Iko Ward wrote 31m ago dogmom...assets dogmom43 wrote 30m ago iko and that's per year? Iko Ward wrote 30m ago dogmom, that's 1% a year from now on. Iko Ward wrote 28m ago To be clear, on big asset portfolios it should get down to .05%, but then you have to add in a qualified CPA firm (not just one guy) and a tax attorney and an asset protection firm and monthly meeting expenses. It should all add up to a team costing you 1%. Again, that's for you guys walking away with millions, not the folks getting 3 or 400K. Eccl519 wrote 30m ago If you have enough, managing money should become your new job. Or teach you kids to do it later Iko Ward wrote 26m ago Ecc, luv, yes, this is your new job, the vacations are great and the commute is much better. Markster wrote 26m ago I have 4 all over a mil some I should be contract ready RIGHT ? Iko Ward wrote 25m ago Markster..don't be specific. There are crooks on this site right now. I'm serious. Eccl519 wrote 24m ago I plea the Nixon statement...with hands lifted in peace signs, "I'm not a crook" luvwulfs wrote 25m ago Iko can you give an example of an asset protection firm? Iko Ward wrote 23m ago luv..I'm so sorry, I've been advised not to name any specific firms. Google asset protection, they're all there. luvwulfs wrote 22m ago Never even thought of asset protection. Just insurance on accts. Iko Ward wrote 21m ago Look for firms with "mature" programs in place, meaning they've been tested in court. Iko Ward wrote 19m ago Another one that surprised me. Up all the liability coverage on your auto and home policies. 1M won't cut it anymore. Better yet, set up a trust. Own nothing, control everything. A good financial guy can explain all the benefits. Again, advice for the 1M plus crowd. tdooly wrote 19m ago Once you exchange at the RV'd rate, and realize the GAIN, there is little you can do to minimize tax liability. All structuring needs to be done prior to RV. Taxes are voluntary so what ever one chooses to do is AOK! Iko Ward wrote 17m ago tdooly, so right, and I keep asking folks what's so bad about paying these taxes? I'm tickled pink I'm going to pay all this tax. daz wrote 16m ago YOU GUYS ARE MAKING US VERY PROUD RIGHT NOW...JUST SAYIN  luvwulfs wrote 15m ago Case of beer $20 ....New baseball glove $150...TNT Education............PRICELESS!!!!! Iko Ward wrote 19m ago Another one that surprised me. Up all the liability coverage on your auto and home policies. 1M won't cut it anymore. Better yet, set up a trust. Own nothing, control everything. A good financial guy can explain all the benefits. Again, advice for the 1M plus crowd. Eccl519 wrote 13m ago IKo...I have a tax deferred trust and the only little glitch lately is if the intl rate has no tax, putting it in the trust will at exchange will be taxed when pulled out but that's really no big deal Iko Ward wrote 13m ago I have had many battles with the IRS over the years. The penalties are the killer, and since you will have the ability to pay you will have no defense against them. Do not procrastinate. Hire that pro and do what they say. Some of it is going to seem like a total rip-off and if you really think you are being played hire another guy and tell them that. But don't drag your feet. Eccl519 wrote 10m ago Iko ...right when the IRS sees you have a tax atty, their tone changes way down and know they can't get away with certain things Iko Ward wrote 9m ago Ecc, yes, yes, yes. And it's not too hard to find a firm that has a former IRS Officer in their group. Nothing like two old buddies working out a problem. Iko Ward wrote 7m ago States are better. I've NEVER received a check from the IRS or a letter admitting error. My accountant just deducts the amount from the next year's return. luvwulfs wrote 6m ago Iko ahhh they want you the individual to find it Iko Ward wrote 6m ago The IRS is right until you prove them wrong. airam wrote 5m ago Iko here in PR there are no state tax ....just the income tax from the island .....do we have to pay IR???S for something .... Iko Ward wrote 3m ago airam..oh yeah..you will have to pay the IRS. Death and Taxes, the only two sure things in life. ninjagran wrote 3m ago I don't mind paying legal taxes, but I don't want to overpay. Got a good tax attorney. Iko Ward wrote 1m ago ninia..that's the idea. It's their game, they made the rules, and there are plenty of ways to play their game without breaking the law. That's what pros know how to do. Ever try to hit a fast ball pitched by a pro? A major league batting coach can teach a Rhesus Monkey how to do it. Iko Ward wrote 1m ago Poof. june1 wrote 1m ago Thanks IKO Interesting and valuable information for everyone!! true4ever wrote 18s ago IKO...I m soo blessed and thankful for you sharing this pertinent info luvwulfs wrote 32m ago Iko enjoy your day, Again TY for your info

by **Cascadian** Sun Dec 07, 2014 4:02 pm

Soooooo basically a lot of words that indicate we would have a tax responsibility after an RV.

Way to go Iko. Really illuminating information. Couldn't do it without you!

dumbass