Okie Wed. Evening OOMC: ON ANOTHER SITE 9/14/11

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Okie Wed. Evening OOMC: ON ANOTHER SITE 9/14/11

Post by Rooster on Wed Sep 14, 2011 11:33 pm

Okie Wed. Evening OOMC: ON ANOTHER SITE 9/14/11

8:38 PM [..OKIE
OIL MAN] 1 SHORT POST FOR NOW. I AM NOT A TAX ADVISOR AND AM NOT QUALIFIED TO
GIVE ANY TAX ADVICE WHATSOEVER. WITH THAT BEING SAID LET ME SHED SOME LIGHT ON
THE TAXATION ISSUE THAT WAS FURNISHED ME. TAKE THIS INFORMATION TO YOUR
PROFESSIONAL C P A OR TAX ATTORNEY FOR VERIFICATION. FOR THOSE THAT MISSED THIS
PREVIOUSLY. REVENUE RULING 74-71, 1974-1CB198 IRS SECTION 1031 ALSO SECTION
1221:1 & 1221-1. REMEMBER THIS IS A CURRENCY EXCHANGE. CASH IS CASH.
CURRENCY IS A CAPITAL ASSET. CAPITAL ASSETS ARE ALL LONG TERM AND SUBJECE TO A
FLAT 15% CAPITAL GAINS TAX.—VERIFY AND CONFIRM THIS INFORMATION FROM YOUR
PROFESSIONAL–I AM NOT QUALIFIED OR AM LIABLE FOR THE INFORMATION I PASS ON . I
HOPE THIS HELPS MANY TO UNDERSTAND THE TAX IMPLICATIONS FROM THE FEDERAL
STANDPOINT AND DOES NOT TAKE INTO CONSIDERATION YOUR STATE TAX
REQUIREMENTS.

8:40 PM [..OKIE OIL MAN] ALSO TAX STATUE 525
AND 988 MAY HAVE IMPLICATIONS–IT’S ALL IN THE INTERPRETATION OF THE
STATUE

8:42 PM [..OKIE OIL MAN] THERE ARE NO NEW NEWS
TONIGHT OTHER THAN ALL PROCEDURAL MATTERS HAS BEEN RESOLVED AND COMPLETED. WE
SIMPLY ARE AWAITING THE UST TO RELEASE THE RATE TO THE BANKS—THIS CAN OCCUR AT
ANY MOMENT

8:43 PM [..OKIE OIL MAN] I WISH TO CONGRATULATE
SAMBO AND SWEET QUEEN FOR THE WORK PUT FORTH FOR ALL OUT BENEFITS IN UPDATING
AND EXPANDING THIS SITE. I KNOW AND HAVE ALSO FELT THE FRUSTRATION PREVIOUSLY
WHEN THE SITE CRASHED. PRAYERFULLY THAT IS ALL BEHIND US
NOW

8:46 PM [..OKIE OIL MAN] I HAVE SAID IT ALL WHEN I
SAID—IT IS FINISHED—DON’T BEAT A DEAD HORSE—ALL WE CAN DO IS WAIT FOR THE
INEVITABLE–DETAILS ARE NOT NECESSARY ANYMORE—SOME THINGS ARE NOT TO EVER SEE
THE LIGHT OF DAY—NOW BE SATISIFIED WITH THAT AS I KNOW WHAT I AM TALKING
ABOUT—-NO QUESTIONS—-THEY AREN’T NECESSARY ANYMORE—-RELAX —SIT
BACK—AND WAIT FOR IT TO APPEAR
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