Malaysian Ringgit Investment Tax Scenario Forex Market USD/MYR Exchange Rate Taxes
John purchases $5000 USD Malaysian Ringgits, How Does He Report His Profits to the Department of Treasury? IRS https://TaxesWillTravel.com
……… PURCHASE FOREIGN CURRENCY / FOREIGN CURRENCY TOOLS
Purchase Iraqi Dinar:
https://amzn.to/3eyI3TQ
Purchase Vietnam Dong:
https://amzn.to/2ZWkEYs
Currency Exchange Planner – 91 Countries and Growing
https://www.currencyexchangeplanner.com/edumatrix
………… TAX EDUCATION FOR SMALL BUSINESS OWNERS / INVESTORS
Lower Taxes for Small Business Owners and Freelancers
https://www.udemy.com/course/irs-schedule-c-for-freelancers-small-businesses/
How to Qualify for Lower Taxes Using a $15 Domain Name
http://TaxesWillTravel.com
………………. VIDEO MARKETING PROFESSIONAL TOOLS
Get Your Videos Ranked
https://www.tubebuddy.com/IncreaseYouTubeViews
………………………….. VIDEO CONTENT
Malaysia is a rapidly developing country that is now experiencing industrialisation. The currency plays a key role in Malaysia’s development The currency has been strong for some time. The Malaysian central bank, has a habit of keeping the exchange rate of the Ringgit down instead of supporting it.
Originally, the Malaysian Ringgit was pegged to the US Dollar; the peg was removed and reinstated. In 1997 when Asia suffered a financial crisis. Today, that peg to the US Dollar has once again been removed. The currency now floats against many major world currencies and can be purchased on the Forex market.
This is a learning quiz on an understanding of one way of many how to recognize a potential pattern of profit when investing in the Forex Market using the Malaysian Ringgit. This story is a scenario. I repeat this story is a scenario.
John wants to invest in the Forex Market. John is a US taxpayer who is required to report all of his income. He has never traded on the Forex before. John is having a problem because he does not want to accept advice from people claiming to have earned millions of US Dollars on the Forex platform.
One thing he knows for sure is, there are seven basic factors that determine a country’s foreign currency rates. (Listed in the video)
John has a Google Alert set up to inform him of major financial events in Malaysia. Because Malaysia is hours ahead of North America, his cell phone alerts him at 1 am in the morning that the Malaysian government has just signed a $15 billion dollar agreement with a manufacturing company to build electronic circuits for a new Artificial Technology.
At the same time, John receives a notice that Malaysia’s National Debt has been reduced by 16%due to some clever moves by the Malaysian government.
Your quiz question is two parts.
Will the value, more than likely, of the Malaysian Ringgit as compared to the US dollar increase during the next 24 hours?
YES or NO
The second part of the question?
Let’s say John immediately purchased $5000 US Dollars of the Malaysian Currency at $4.16 MYR to $1 US Dollar. Let’s say the Currency increases from $6.16 MYR to $1 US dollar within the next 24 hours. Will John be required to report his profits? And if so, which tax form will John report his profits?
For you more advanced math wizards, what is John’s profit for this one-time transaction, which he sells when the currency reaches $6 MYR to $1 USD? From $4 MYR to $1 USD
If you understand the math then you understand the attraction to the forex market. Not everyone invest $5000 in a day, some invest $500 or even $100 and realize or lose income every day. This is the fastest way to wealth and the poor house. Education changes everything. Learn what you need to learn.
