(2nd) NEW All Nighter Thread....(On A Good Prediction.)

[mbuna13]

Tiff,
Copied this from the "Latest News thread". Is this what you were looking for? It was posted by readytogo.

Hey guys,

Saw this in IIF. Good news for us if it is correct. Wish I had a link for it. Seems to be a new bill passed in 2003 to promote investing in Iraq! Hope it covers us! What do you think?


Posted by pimpmaximus:

The 2003 Tax Bill provision signed into law by President Bush gradually reduces the tax liabilities incurred by investors. This year its still 10% on long term capital gains. Next year its 5%, and in 2008, it will be 0%. So by default, everyone who has bought Dinar before today will fall into that category in 2008 (long term refers to holdings of over a year).

Bad news is that unless the law is renewed, the rates reset in 2009, back to 20% long term I believe. But that still gives you an entire year to reap rewards.

Many have speculated that this law was devised to coincide with a timeframe when many people will be able to cash out of a certain investment. I'll let you guess which one..........

Gotta apologize Howler, it is 15% this year, thats for folks in the 25% or higher bracket. For folks in the 15% or lower bracket it's 5%. Quite late here........

Thanks for the info...

There was other info in the taxes thread..

Too bad only about 1/4 of my Dinar qualify for LTCG as I ran out recently an purchased a bit more. But I will certainly take EVERY tax break I can.

Heck just the LTCG savings on say 250k alone is like 50k if you are in the higher tax range. You have to add in state tax too don't forget (grrrrrr)

So yeah.. I like the savings.

[phiberoptik]

Tiff,
Copied this from the "Latest News thread". Is this what you were looking for? It was posted by readytogo.

Hey guys,

Saw this in IIF. Good news for us if it is correct. Wish I had a link for it. Seems to be a new bill passed in 2003 to promote investing in Iraq! Hope it covers us! What do you think?


Posted by pimpmaximus:

The 2003 Tax Bill provision signed into law by President Bush gradually reduces the tax liabilities incurred by investors. This year its still 10% on long term capital gains. Next year its 5%, and in 2008, it will be 0%. So by default, everyone who has bought Dinar before today will fall into that category in 2008 (long term refers to holdings of over a year).

Bad news is that unless the law is renewed, the rates reset in 2009, back to 20% long term I believe. But that still gives you an entire year to reap rewards.

Many have speculated that this law was devised to coincide with a timeframe when many people will be able to cash out of a certain investment. I'll let you guess which one..........

Gotta apologize Howler, it is 15% this year, thats for folks in the 25% or higher bracket. For folks in the 15% or lower bracket it's 5%. Quite late here........

I've been going thru the US tax code located U.S. Code Search

and have yet to come across anything to confirm this i continue to go thru it when i find something i'll post it

*******EDIT*******
found what i think is the law that being discused

its called the Jobs and Growth Tax Relief Reconciliation Act of 2003.
and is discused here http://www.aba.com/NR/rdonlyres/E1DF...%20gains%20%22

[choochie]

I've been going thru the US tax code located U.S. Code Search

and have yet to come across anything to confirm this i continue to go thru it when i find something i'll post it

*******EDIT*******
found what i think is the law that being discused

its called the Jobs and Growth Tax Relief Reconciliation Act of 2003.
and is discused here http://www.aba.com/NR/rdonlyres/E1DF...%20gains%20%22

I checked this out, and this is for C and S corportations. I know that we should all look into having our own corportation, but I do not believe this is what was being talked about. I will have a look around, and see if I can find anything to back this up.

[phiberoptik]

I think that might be the wrong PDF but the law does talk about capital gain tax
cuts

[choochie]

Yes, it talks about cuts, but not the cuts that were originally posted. Like I said, I will keep looking, if you find anything else, please post it, eventually we will get this figured out.

[$onedaysoon$]

Customized counter

new all nighter lol Im going to try to hang but.....lol the past month has taken alot out of me as it is lol

[choochie]

O.K. Here is what I found. Right off of the IRS website. It is a long publication, but start at page 66. It has the Capital gains tax rates and if you keep going, it shows example Schedules. This is just basic stuff. But thought I would put it here for reference. It is a pdf. file.

http://www.irs.gov/pub/irs-pdf/p550.pdf

Like I said, it is 81 pages long, but if you start a page 66, about Mid way down the page on the right. That is where it starts talking about the rates.

[tiffany]

LOL! I just carried on the thread name "All Nighter" because Neno locked the other one in the middle of my post! (little rascal that he is) I'm assuming that TONIGHT will be the ACTUAL All NIghter!

[panhead]

I'll be here.....just late, get off work at midnight.
Hope it the last weekend that I have to work....what am I thinking,it might be the last day I have to work!!!!!!!!

[kevinsw]

Well don't this beat all, I now have the unique choice of a first date or being here.

LOL, Hmmm perhaps both? She will want to keep me after the reval huh..