asked
I am about to purchase foreign currency, the Iraqi dinar, as an investment for a future revaluation. I plan to set up a trust or IRA-type account to hold it in. My question is whether the dinar needs to be purchased by/within the trust or account to minimize gains taxes when the currency revalues. Additionally, I am interested in the best way to minimize taxes over a period of time and the appropriate structure for managing and investing the proceeds from the dinar.
December 7th, 2023
How do you claim taking money from the principal of a trust account? Is it considered income, and how much in taxes would I have to pay for the 2019 tax year?
February 20th, 2024
My 15-year-old daughter collects recyclable bottles and uses the money earned to help poor children in the Philippines. Does she need to pay taxes on the money she earns from collecting plastic bottles, and if so, how is it calculated?
September 15th, 2023
Do I have to purchase or lease a hybrid plug-in vehicle to qualify for the qualified plug-in electric drive vehicle credit? I am looking at the BMW 530e hybrid for the 2019 tax year.
August 9th, 2023
How can my wife and I efficiently perform backdoor Roth IRA conversions for 2019, given that I have a non-deductible traditional IRA and my wife has a deductible traditional IRA, without triggering significant tax implications?
May 15th, 2024
I received my new credit card on 01/12/2019 and have been deregistered from using it for Uber payments, now having to pay cash. My credit card works for normal transactions but not for Uber. What do I need to do to get back onto using my credit card for Uber?
January 16th, 2023