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

[tiffany]

Darn it Neno! You locked me out when I was posting! loL!

This is what I was asking....

Has anyone seen anything about the "special tax breaks" for those that invest in Iraq? Remember when Bush recommended investing....lower tax til 2009...something along those lines? Just trying to find EVERY possible alternative...

[flygirl1]

Tif, tell us somemore about the tax law and where did you find out about it. I want the info.

[flygirl1]

I don't know if I can make it all night tonight. I was up until about 5am last night and I think I will save my energy for tomorrow night.

[choochie]

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........

[neno]

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 choochie, I was looking for this too. Was telling all the co-workers today about this. Is it true, or is this speculations?[/b][/size]

[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

[neno]

I don't know if I can make it all night tonight. I was up until about 5am last night and I think I will save my energy for tomorrow night.

I plan on this too, tomorrow night with you guys this time. They had all the fun last night.