If you spend or invest in virtual currencies, it is crucial to understand how virtual currency transactions are treated for tax purposes.Originally Posted by marcel
Notice 2014-21. According to the Notice, virtual currency is treated as property for federal tax purposes.
https://www.forbes.com/sites/greatsp.../#2f3b2e401346
"And if I could I surely would Stand on the rock that Moses stood"
Would you characterize the conversion of dollars into bitcoin as a “constructive fraudulent transfer”?
This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government.
"And if I could I surely would Stand on the rock that Moses stood"
Let's say my company sold an asset for USD$100,000. That company then sold everything and converted assets to bitcoin worth $110,000 and transferred those bitcoins to another entity (company 2) under my control leaving the original company with nothing. Who owes what to the IRS?
Fill it out and find your answer https://www.occ.gov/static/licensing...nt-cert-v2.pdf
"And if I could I surely would Stand on the rock that Moses stood"
Hi All. I hope you and yours are well. Recently when I was bored out of my mind I took to reading the Parity Act. I found that the term Dollars is a term one might really consider. The reason being is that due to the Parity Act a Federal Reserve Dollar can buy just as much property as an United States Dollar and in the Parity Act one is relieved from the burden of Gold [or any other metal] thru the term Dollar.
I find it interesting how the mind is captured to the point where it only considers the transfer of property on the basis of Dollars. I am not disparaging you Chex rather in general I have noticed about the public how the public speaks. In terms of value I find many speak in Dollars.
To a house framer a hammer has value greater than Dollars because it has Use. And therein is the key, i think.
Everyone in the Kingdom [trust or House] must have a Use. That is not to degrade the Use because it is good to be useful to others. Enter the salesman stage left to put a value on uses. Lobbyist and the like. One complained to me the other day about property taxes. I responded with: do we not benefit in society upon the meager level of education provided at the base rung of public education? Would we rather prefer to be overrun by feral children/young adults?
Naturally taxes are paid upon the transfer of property. And clearly a basket of properties is held in an Estate or State is you prefer. Now then I shall make a large leap across the divide. When it gets right down to it - Government is a Religion. Because Government could not exist without the capturing of the mass mind. Sure enough when I look atop George Washington's head ($1 Note) I find an alter. He is the first United States President [Alpha] and whoa is that an Omega blanketing him? Indeed sir.
Federal Reserve Notes are not Fiat currency. Because said notes have the backing of property. In reality it is United States Notes that are fiat for they are backed solely on the promise of the United States Government to repay.
I suppose in the larger scheme of matters one must analyze one's business ventures and ask, did I make a use of the State or State property to effect a gain thru sale, bargain, transfer, conveyance, etc? Is it not practical to charge a rent for said use?
Let me say it another way. Did not Levi tithe to Melchizedok in the loins of Abraham? Levi not yet being born is subject to the agreements established by his Fathers. Should one choose to leave his Mother and Father and take a wife, then one must create a new House.
Heb 7:9* And as I may so say, Levi also, who receiveth tithes, payed tithes in Abraham.*
Heb 7:10* For he was yet in the loins of his father, when Melchisedec met him.*
Enough of that for now. In my opinion one must ask if property was used to effect one's business affairs. And by property I refer to that which is lodged within a certain trust. Property of course is merely a concept acting upon a Thing. Said Thing can even be corporeal or incorporeal. But it is a Morpheus asked :What is real?
And now is the dream revealed. Best Regards, MJ
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