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Number of Posts:7110
Registered on:12/9/2013
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re: White House outlined new tax plan - Iowa Golfer
[quote]Sure they do. S-corps report it on their 1120S return. Granted, it is the book balance of retained earnings, which may not always agree with a tax balance, but it should reconcile with the Accumulated Adjustments(section M3) on the 1120S. Partnership retained earnings is more generally referr...
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re: Democrats- provide me with realistic tax reform you would support - Iowa Golfer
[quote]Raising the cap on Social Security contributions would be great as would taxing capital gains as income in the case of Hedge Fund managers and others who are being paid in this way so as to lower their tax liability.[/quote] It's not a capital gain, it's more like a bonus on performance. W...
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re: White House outlined new tax plan - Iowa Golfer
We'd need to dive down into the weeds. There was talk of this only applying to pass throughs with retained earnings. Now how could this be since by definition virtually every pass through doesn't have retained earnings? Well, there are exceptions, but what they were trying to say, at least what's be...
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re: White House outlined new tax plan - Iowa Golfer
Kansas rates were already low. Kansas hasn't seen any type of significant growth before even lower rates were enacted. Kansas increased its sales tax. I think Kansas completely eliminated pass through income taxes, maybe for a period, I don't remember. There was some border gas tax issues. Nebraska ...
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re: Trump Tax Plan Thread - Stream is over (Cliff's in OP) - Iowa Golfer
What gives you the idea that business trips would no longer be deductible? A proposed elimination of a personal tax deduction? You don't think if it is a legitimate business trip, a business owner will just report less business income, and the trip would be expensed on his business return? Biff ...
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re: White House outlined new tax plan - Iowa Golfer
The two aren't comparable. I suspect you already know this, and I suspect your post is designed to incite an argument, not honest debate. ...
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re: Trump Tax Plan Thread - Stream is over (Cliff's in OP) - Iowa Golfer
It depends on what AGI ends up getting defined as. In some ways what was outlined and talked about today is pretty smart. I suspect the elimination of state tax deduction is going away. I suspect c-corp will be lucky to get to 20%, and pass through lucky to get to 25%. Not tinkering with specifi...
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re: Trump Tax Plan Thread - Stream is over (Cliff's in OP) - Iowa Golfer
There was a lot more detail released than the nice one page photo the one guy posted. Including some GDP projections and working examples. I think you're going to find that most on here that pay significant taxes have already looked for as much additional detail as available, and found it. They ...
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re: White House outlined new tax plan - Iowa Golfer
The pass through portion, if it actually passes, would be the largest economic stimulus in our lifetimes. When you start to get high wage earners who are extremely good accountants, carpenters etc, paying anywhere from 25-33% of adjusted gross start to understand if they run a business, grow the bus...
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When We're Talking About Bill O'Reilly....... - Iowa Golfer
It's generally a good thing. It means government isn't doing much. People aren't paying attention. No damage is being caused. And hopefully, somebody, somewhere, is trying to figure out how to get a tax cut passed. Simple majority. People are distracted. Should be simple, right? So let's all of ...
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re: If you would buy real estate anywhere.... - Iowa Golfer
I've owned in Broward County since almost immediately after 9/11. So I've been up, and down, and back up again. The South American demand was there when I bought, increased, remained during the bust, and is still there today. It didn't have as much impact as you seem to be suggesting. What drove...
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re: If you would buy real estate anywhere.... - Iowa Golfer
IMO, right now you'd buy vacant land where there is infrastructure being put in nearby. I'm pretty sure a lot of office space is on sale currently. Like as in a fire sale. Maybe some strip malls as well. I can tell you South Florida is overheated in residential real estate. At some point, and if...
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re: Vegas must Do's? - Iowa Golfer
If you're going to gamble at all, book the hotel through a host, and/or casino marketing. Charge back everything to the room, and don't leave before you have a host review your play for back end comps. If you're going to gamble at all, familiarize yourself with expected play at various properties, a...
Posted on Travel Board
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re: Who is the most respected and coherent liberal on this board? - Iowa Golfer
90proofprofessional and Doc Fenton are the best conservative posters :rotflmao: Yeah, becuase in the case of Doc Fenton, traditionally conservatives have always favored war. And in the case of 90proof, conservatives always oppose tax cuts until there are spending cuts. ...
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re: Who is the most respected and coherent liberal on this board? - Iowa Golfer
Probably Buckeye Vol and/or Displaced Buckeye. They are both liberal, but reasonable posters. ...
Posted on Political Talk
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re: Can anyone explain what's going on with Coffee? - Iowa Golfer
When does it roll the single front month futre's contract it owns? That's one possible explanation. Also, wouldn't the cruve have steepened and wouldn't there be contango? It's a note, I'd trade its options around its underlying trading months - HKNUZ...
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re: How Is It Possible Under the Tax Code 50% Pay No Income Tax? - Iowa Golfer
Precisely. It wouldn't be about the donations, the tax payer funded grants, the salary I took out, the consulting fee I charged back or the miscellaneous expenses I paid myself. It would truly be about helping people. I might have to borrow your idea and pray about it to see if I should proceed. I s...
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re: How Is It Possible Under the Tax Code 50% Pay No Income Tax? - Iowa Golfer
I should start a non profit and ethically profit from this. Any ideas? ...
Posted on Political Talk
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re: Premium surcharges? New GOP plan? - Iowa Golfer
I think you're right. I've had three at fault accidents, two while I was stoned. I'm taking my auto insurance company to court for unfair surcharges on my premium. ...
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re: Who is advising President Trump? - Iowa Golfer
Nah, the smart ones are debating Pavarotti. ...
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