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re: Question about long-term capital gains for income tax reporting. - CharleyLake on 12/5/17 at 8:41 am
I know that each member's basis is preserved realative to the LLC Partnership. (24 members) If I understand you, the built in gain will be calculated for each member to the extent that their tax basis was different than their fair market value of the property contributed. That works for me. I ...Jump to Post - View Topic - Replies (0)
re: Requesting a legal inerpretation R.S. 45-251 - CharleyLake on 12/4/17 at 2:21 pm
I have engaged an attorney that is familiar with eminent domain and expropriation matters and who could negotiate a Right-of-Way and Servitude. I only hope to find an explanation of the statute for the time being from someone that has better literacy awareness than I do. Initially the landman to...Jump to Post - View Topic - Replies (0)
Requesting a legal inerpretation R.S. 45-251 - CharleyLake on 12/4/17 at 10:26 am
Referencing petroleum definition for common carrier status. (2) Is the meaning of he term "mixture" referencing a hydrocarbon with a non-hydrocarbon or is it referencing to a mixture of gas and liquid states of matter? Specifically the hydrocarbon C2H4 (ethylene) transported via pipeline is a c...Jump to Post - View Topic - Replies (1)
re: Question about long-term capital gains for income tax reporting. - CharleyLake on 12/4/17 at 10:03 am
As I understand your replies, each grantor has their own individual basis which was determined at the time of their own inheritences. Thank you very much for responding....Jump to Post - View Topic - Replies (1)
re: New tax bill- how will it impact you? - CharleyLake on 12/4/17 at 7:58 am
I take your meaning. Some of my family is just like you and your wife are. They were able to borrow to attend professional schools and seemingly are penalized be getting a better education. ...Jump to Post - View Topic - Replies (0)
Question about long-term capital gains for income tax reporting. - CharleyLake on 12/4/17 at 6:58 am
A few parcels of land which had undivided interests were contributed to a Family Group LLC. Each owner inheirited their interest at different dates. One parcel was sold in 2017. A K-1 form is expected be issued to LLC members in March. How is the basis of the property that was contributed and so...Jump to Post - View Topic - Replies (2)
re: YTD 401(K) returns - CharleyLake on 12/1/17 at 3:38 pm
I don't feel the pain too much. I have a taxable Dodge & Cox and a Vanguard Fund. Fidelity Energy will bounce back. My other funds are Bridgeway 12+ % YTD and two no-load Franklin Mutual Funds which I have owned over 25 years. I have rolled over about ten IRA's to their family over time. I think ...Jump to Post - View Topic - Replies (0)
re: YTD 401(K) returns - CharleyLake on 11/30/17 at 5:54 pm
Buffet also said the most money is make in times of greatest pessimism. I have increased my percentage of cash. Only when the tide goes out do we see who is swimming naked. (In a bull market nearly everyone is a genius.) I do not like being mostly on the sidelines having rebalanced earlier ...Jump to Post - View Topic - Replies (0)
re: YTD 401(K) returns - CharleyLake on 11/30/17 at 3:11 pm
My returns will not be as stellar as most of yours. 401K is 6.98% YTD IRA's are 3.99% YTD. I only have four remaining: Rolled over Fairholme last January. Fairholme exceeded market averages for a few years but you gotta fix a chronically leaking boat. and Fidelity Select Energy is down abo...Jump to Post - View Topic - Replies (1)
re: Working as a landman - CharleyLake on 10/12/17 at 12:56 pm
Good to know. I take your meaning. I have met with a few attorneys that represented pipeline companies but only two land men(agents). One could not tell me why his client was a common carrier but suggested his client had the power of expropriation. His focus was on obtaining a signature. The seco...Jump to Post - View Topic - Replies (1)
re: Working as a landman - CharleyLake on 10/12/17 at 10:25 am
Does a landman have the authority to negotiate compensation for a pipeline easement? Does he simply deliver a proposal and is he required to deliver counter offers back to the company he represents? I was contacted by SunCoast Land Services from Lafayette. ...Jump to Post - View Topic - Replies (2)
re: Anyone been up to Knoxville for a game?? - CharleyLake on 9/29/17 at 7:24 pm
The last that I was in the stadium was when Norman Jefferson was the only bright spot for the Tigers.(1980's) I did,however,attend a military reunion in May. Bruch was provided each day at Mariot near the river. One evening a meal was provided on the paddle boad cruise on the Tennessee River. We din...Jump to Post - View Topic - Replies (0)
re: Is Lake Charles flooding too? - CharleyLake on 8/28/17 at 7:11 am
Contraband Bayou has not climed over its banks except for about 30 minutes yesterday afternoon. It appears that those residents who had flood damage during Hurricane Ike were more impacted by the storm surge than the rainfall which I recall to be only about six or seven inches. Recently people ...Jump to Post - View Topic - Replies (0)
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