newby
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 |  Subject: Re: Does anyone know what the taxes are going to be  Wed 1 Jul 2009 - 13:08 | |
| Does anyone know what the taxes are going to be on this when we cash out, I've heard 35%. And is this the only tax we'll be taxed? |
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owl
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| | Subject: Re: Does anyone know what the taxes are going to be Wed 1 Jul 2009 - 13:54 | |
| | newby wrote: | | Does anyone know what the taxes are going to be on this when we cash out, I've heard 35%. And is this the only tax we'll be taxed? |
Look around the site...through the different threads. You may find a better answer, BUT I've heard 15% for everything more than 1 year old and 35% for everything less than 1 year old.
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newby
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| | Subject: Re: Does anyone know what the taxes are going to be Wed 1 Jul 2009 - 14:05 | |
| Thanks Owl that was what I have heard too. Hope it's not any more. |
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Ronbo
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papajack
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| | Subject: Re: Does anyone know what the taxes are going to be Wed 1 Jul 2009 - 14:51 | |
| My accountant says 15% over a year 35% less than a year + state if your state has capital gains, and he told me AMT did not apply in my case but it could in some folks. Also get a tax attorney also in addition to your accountant as they have attorney/client priviledge if they take you to court your accountant does not and if they turn up the heat on him he could give you up. It has happened. I was also told that if you exchange Dinar for gold there is no tax until you cash it in but it does start the capital gains clock over again. But do your own Due Diligence. Also pay your taxes before you move your money after the initial exchange or the IRS will be looking for you. |
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Neno
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