BobTheTaxMan

  In BobTheTaxMan 

Keeping your taxes as low as possible saves you money…Cashing in – my suggestion if you have just a small amount of IQD just cash in enough to meet your goals.  You want to reduce those taxes as much as possible.  [for example] I’m gonna say $1 just for a number…I think it’s gonna be lower than that but for calculation purposes I’m gonna say $1.  Lest say it does come at $1 and let’s say you’ve got 2 million IQD.  If you run off and cash that in, remember, you bumped over that $400,000 mark, you also got that extra 3% tagged on there and you got the state coming after you as well. You lost.

Only cash in just enough to take care of the things you want to get done, to get some professional help and if you’re going to buy a home, borrow the money.  Borrow it.  Believe me the interest rates are a heck of a lot lower than the taxes are by a long shot.  And then when you do cash in pay the freaking taxes…Pay those taxes immediately.  You don’t need to have…the IRS show up.  And then what happens? All those things that you bought have to be sold in order to satisfy a tax liability. [Dinar Detectives Notice: All posts are for informational/entertainment purposes only and are the opinions of the providers. They are not legal, tax or investment advice. We strongly encourage everyone to do their own due diligence and seek professional tax, legal, and investment advice.]

 

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