Thread: "Taxes", Anything Related To It In Here

Originally Posted by neno

Way back in one of the Tax threads I mentioned this and most got worried. So I just left it at that for then. I am glad you brought this here. Thanks.

BTW, SafeDinar is not a Brooker. They are a Licenced Exchanger.

Would Chase bank be considered a broker?

Here's the code if you're brave enough to try to make sense of it.

US CODE: Title 26,988. Treatment of certain foreign currency transactions

Originally Posted by cigarman

The form I have in my possession is the FINCEN 104 which states Currency Transaction Report (formerly form 4789) which the bank fills out. I will personally call the IRS tomorrow to find out. I sure hope that your right but I see capital gains tax being applied.

I would be interested in what you come up with. I posted my question in the crazy thread also. I am not trying to find ways around paying taxes. Just want to be somewhat sure of what I am doing as I am not as savvy as some of you folks are when it comes to this kind of stuff.

Originally Posted by celilo

Here's the code if you're brave enough to try to make sense of it.

US CODE: Title 26,988. Treatment of certain foreign currency transactions

That's the problem, some of us rednecks ain't that intelligent!

I need to break it down for me, you know, 1 + 1 =2, 2+2 = 5, and so on!

Originally Posted by Caddieman

Here's some good news: For those of you looking down the horizon, the new 5% capital gains rate will be reduced to 0% (that's right -- nada, nothing, zilch!) in 2008.

But don't get too excited. All these new tax provisions sunset after 2008. Unless these changes are made permanent before then, the tax law will revert back to the way it was before the passage of the 2003 Tax Act. We still have a few years before the sunset provisions kick in, but remember that those provisions are out there.



Here ya go Krissy!

Fool.com: New Capital Gains Tax Rates [Tax Q&A] June 13, 2003

Congress is actually considering extending the benefit until 2010. I'm sure the rate won't be absolutely zero for threee years running, but its still good news.......

Here is the form you will need to fill out once this r/v's and you exchange in the U.S.

http://msb.gov/pdf/fin104_ctr.pdf

Cheers!
DayDream

Originally Posted by ronbo

That's the problem, some of us rednecks ain't that intelligent!

To the contrary, those that wrote the code are the ones who lacked intelligence! A simple, "redneck," created tax code would perhaps contain the clarity required for We the People to understand. No personal tax code should require an accountant to properly file your taxes.

Originally Posted by celilo

To the contrary, those that wrote the code are the ones who lacked intelligence! A simple, "redneck," created tax code would perhaps contain the clarity required for We the People to understand. No personal tax code should require an accountant to properly file your taxes.

We should be that lucky!

Originally Posted by DayDream

Here is the form you will need to fill out once this r/v's and you exchange in the U.S.

http://msb.gov/pdf/fin104_ctr.pdf

Cheers!
DayDream

Actually, the financial institution and not the individual files this form. Ohterwise, a money launderer would simply not report an illegal transaction?