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millsrat
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| Number of Posts: | 20 |
| Registered on: | 4/17/2021 |
| Online Status: | Not Online |
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There currently isn't a no tax on capital gains, but there is a $250,000 ($500,000 if married) exclusion on the sale of your main home as long as you owned and treated it as your main home for 2 of the past 5 years.
We would always go in the fall when the first cool fronts come through
re: Fishing Dixey Bar For Bull Reds?
Posted by millsrat on 7/5/25 at 9:23 am to auwaterfowler
I grew up walking through the dunes and fishing off the westernmost tip of Fort Morgan in the fall. It would be a big group of friends from high school, build a fire, listen to football games on a radio, and fish for hours. I don't even know if you're allowed out there after hours any more, but we had a blast. Every once in a while a big school of reds would come through, and we'd catch a few.
We didn't have a boat, but I'm sure it'd a lot easier to catch more than what we were doing. We still had fun though!
We didn't have a boat, but I'm sure it'd a lot easier to catch more than what we were doing. We still had fun though!
re: Another WTF crawfish boil-Baldwin County AL LSU Alumni Chapter
Posted by millsrat on 5/11/25 at 7:41 pm to lsumailman61
Oh hey, I have a trashcan like that!
Why would anyone give money to Walmart?
I usually buy stuff when I go there.
I usually buy stuff when I go there.
This is my opinion also. If a non-profit (whether church or other 501) can't make it based off of donations due to its cause then it shouldn't make it.
I don't think a church that exists due to charitable contributions should be subject to income tax though. Most aren't profitable, and the donations normally come from after tax dollars. There is kind of a break for charitable donations as an itemized deduction, but most people don't itemize on their tax returns plus they don't get a break for the FICA taxes they already paid when it was earned.
Also, the church and its employees pay FICA taxes on wages except for pastors who have to pay self-employment taxes on their housing and wages on their personal tax return unless they opt out of Social Security and Medicare (which means they won't receive those benefits).
I'm a regular church-goer and a CPA who mainly prepares tax returns. I also do some bookkeeping for a few churches.
I don't think a church that exists due to charitable contributions should be subject to income tax though. Most aren't profitable, and the donations normally come from after tax dollars. There is kind of a break for charitable donations as an itemized deduction, but most people don't itemize on their tax returns plus they don't get a break for the FICA taxes they already paid when it was earned.
Also, the church and its employees pay FICA taxes on wages except for pastors who have to pay self-employment taxes on their housing and wages on their personal tax return unless they opt out of Social Security and Medicare (which means they won't receive those benefits).
I'm a regular church-goer and a CPA who mainly prepares tax returns. I also do some bookkeeping for a few churches.
Thank y'all for all the responses! I'll test them out to see how they shoot.
I'm hoping they fire okay after seeing the price for them after not buying any for 15 years...lol
I'm hoping they fire okay after seeing the price for them after not buying any for 15 years...lol
I used to deer hunt a lot, and I'm trying to get back into it. I have some old 30-06 ammo that has been in an uninsulated garage for probably a decade. It looks okay, but I was wondering if any of y'all have any experience with something like this?
I'm in South Alabama by the way.
I'm in South Alabama by the way.
Not that I've heard or seen. I wonder if they hang out under lights at night
Snook in Baldwin County, AL
Posted by millsrat on 5/15/24 at 3:39 pm
Pretty cool news story about a 7lb snook caught in Soldiers Creek. We've had a few randomly caught the past few years, but this one was pretty big!
WKRG AL Snook article
WKRG AL Snook article
re: Recurring Prostatitis
Posted by millsrat on 5/7/24 at 2:41 pm to Lazy But Talented
It gradually got worse, and I didn't really recognize it as a problem until peeing at a public urinal and noticing how much longer it took me to drain my bladder than others. I was in 33 when I started having the issues.
I would also have retention after peeing sometimes and have a little pee spot on my pants.
I would also have retention after peeing sometimes and have a little pee spot on my pants.
re: Recurring Prostatitis
Posted by millsrat on 5/4/24 at 3:59 pm to tigerbait17
I had urine flow issues at one point a few years ago, and a nurse practitioner at a urology place immediately told me prostatitis. Prescribed heavy antibiotics that never fixed it.
I got a vasectomy later on, and the urologist was a little worried about it being something worse since it never really cleared up. He ran a few tests and wanted to do a scope to check out my bladder. Turns out I had a stricture in my urethra...Hopefully you don't have that, but it wouldn't hurt getting it checked out if you've taken any direct hits to the dick
I got a vasectomy later on, and the urologist was a little worried about it being something worse since it never really cleared up. He ran a few tests and wanted to do a scope to check out my bladder. Turns out I had a stricture in my urethra...Hopefully you don't have that, but it wouldn't hurt getting it checked out if you've taken any direct hits to the dick
She has huge name recognition for the area. Her dad was the mayor of Foley for a long time
re: Monkeypox cases in western countries is mostly found among men who have sex w/men
Posted by millsrat on 5/22/22 at 8:10 am to RogerTheShrubber
But how will they reproduce now?
re: Tax Question
Posted by millsrat on 1/25/22 at 9:41 pm to RandySavage
Not sure what state you're in, but it may help on your state tax return. I'm in AL where the standard deduction is only $4000, so it's easy to itemize on the AL return and use the standard deduction on the Federal.
Yeah. You will receive either a $3,600, $2,000, or somewhere in between child tax credit depending on your income and filing status.
Correct unless you or your spouse have used this exclusion once in the past 2 years.
re: Does anyone know how I am to be taxed on a home sold?
Posted by millsrat on 1/12/22 at 1:07 am to shoelessjoe
1st step is to determine your gain which is the selling price minus your basis and selling expenses. Your basis is your purchase price of the property plus any improvements made over the time you owned it unless it was inherited or gifted to you. An inherited asset's basis is whatever it was worth the date of the decedent's death. A gifted asset's basis is whatever the giver paid for it.
2nd step is to determine if the gain is greater than $250k or $500k if married. Any gain over that applicable threshold is taxed as a long-term capital gain.
Most people don't pay any tax on the sale of their home, but I saw a few this past year on homes that were gifted to the seller which would cause them to have a low basis. The sky-rocketing real estate prices have also made some home sales result in gains >$500k.
2nd step is to determine if the gain is greater than $250k or $500k if married. Any gain over that applicable threshold is taxed as a long-term capital gain.
Most people don't pay any tax on the sale of their home, but I saw a few this past year on homes that were gifted to the seller which would cause them to have a low basis. The sky-rocketing real estate prices have also made some home sales result in gains >$500k.
re: Need a live bait shrimp net
Posted by millsrat on 4/17/21 at 12:56 pm to TutHillTiger
Brunson's net in Foley if you're over in Baldwin county. I think they custom make nets and have 8 ft live bait nets on their website
LINK
LINK
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