I believe they are doing the same thing at BoA.
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Lets just suppose we do cash in with Ali, and walk away with a fat check for a million+, what are the implications down the road at tax time next year when the IRS inquires how you suddenly gained that much cash? Chances are we may get spanked by Uncle Sam and some may suspect we are drug dealers!
Thoughts or imput?
There is a tax thread that you can look at. But all deposits over $5000 -I believe -are automatically reported to IRS. So get a good CPA and Financial Advisor and CYA! Your main worry is Long Term vs. Short Term Capitol Gains, not being labeled a drug dealer! If you can prove when you purchased Dinar and Sold Dinar. JMHO:cheers: :cheers:
Has anyone given thought to how to shelter their money from the Short Term Capitol Gains tax? 35 percent seems like a huge amount. Are offshore accounts safe? Any Ideas?
Waterdog
Thanks for the input Icemann!
There is a tx thread where you can find all kinds of advice on long-term, short-term, tax shelters.:wacko: