Thread: Good example of a Historic Reval

Originally Posted by RfxLady

What fee is your Chase charging. Mine said $5 is no account with them, no fee if account with them.

I believe they are doing the same thing at BoA.

Originally Posted by RfxLady

What fee is your Chase charging. Mine said $5 is no account with them, no fee if account with them.

I will give my branch a call today to see if there are any tax forms involved.

Originally Posted by Icemann 30

This is true. He has told me on several occasions that he will cash in at that days posted CBI rate minus his 2%.

Looks like our first family vacation(post RV!!!) might very well be to Nashville!!!! I've ALWAYS wanted to go to Nashville!! Passed through before, but at 2% vs. 16% at Chase?! No brainer. Kids-get in the van!!! We are taking a trip!!!

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?

Originally Posted by cooldolphins

Looks like our first family vacation(post RV!!!) might very well be to Nashville!!!! I've ALWAYS wanted to go to Nashville!! Passed through before, but at 2% vs. 16% at Chase?! No brainer. Kids-get in the van!!! We are taking a trip!!!

Are we there yet? Are we there yet?

Originally Posted by Din Diesel

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

Originally Posted by stik

I'm not sure I'm remembering this correctly...but didn't Ali say that he'd buy back dinars at an advantageous rate?

Yep. Will definitely check with him when the time comes.

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.