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Tigerlandlegend2000

Favorite team:Southeastern LA 
Location:LAPLACE
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Interests:Money, golf
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Number of Posts:9
Registered on:1/27/2022
Online Status:Not Online

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re: Business owners insurance... - Tigerlandlegend2000
Was a cpa for 5 years and did quite a few of these calcs for state farm at a big firm. Hated it and became a lineman so as of now I barely know what I'm talking about. You may not receive a payroll reimbursement but probably will receive it as lost profits. You are basically redirecting profits...
Posted on Money Talk
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re: Early IRA Distribution Exception - Disability - Tigerlandlegend2000
Show proof to ira administrator to get code 2 or 7 on 1099r. If that doesnt work, when filing return, use code 3 on form 5329 to wipe out penalty. Simple as that. Just be sure to have proof if anyone asks. ...
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re: Capital gains on home sale - Tigerlandlegend2000
You wont owe much. You can exclude 500k even if converted to a rental if meet 2 of 5 year test. Just have to recapture deprecation. Was a cpa for 5 years and hated it. No longer one so a little rusty but pretty sure I'm right. Actually, you make not quite make the cutoff, its close....
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re: Babysitter (Niece) received 5071c letter. Never Filed A Return - Tigerlandlegend2000
Fairly sure she owes SE tax. Anything over 600 bucks so you putting her info out there raised the flag....
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re: Masters in Legal Studies (pairing with CM degree) - Tigerlandlegend2000
Hey man, I think both options suck. I actually dont think an MBA sucks but it ain't worth it either. No way to get more specialized training/degree? Engineering, etc?...
Posted on Money Talk
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re: First Republic PLOC rate = 2.25-3.50%. I Bond return = ~8%. Arbitrage opportunity? - Tigerlandlegend2000
Dont forget about your federal tax rate plus another 4% for NIIT if you make alot. Also, those bonds compound twice a year where the debt compounds monthly. With that being said, taking out debt for it prob isn't a wise deal....
Posted on Money Talk
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re: Selling an asset, Depreciation is taxable income? - Tigerlandlegend2000
He/she is right but dude dont let it go without verifying your sales agreement. No one pays more for depreciable assets so that large of gain is wild on equipment. Make sure the proceeds are not allocated to goodwill as well. If so, that's cap gain rates for goodwill. IE - diff between fair mar...
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re: Classic Doge has now launched! - Tigerlandlegend2000
Appreciate the response. Just doing due diligence on activity in the 4th and 5th largest wallets, trying to figure out what it all means. Wanted to be sure before i dump another load in but it's going up quick, missing out lol...
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re: Classic Doge has now launched! - Tigerlandlegend2000
Can some of you baws help me out? Forgot I even had this till last week and it was basement level. Then I look again and its 5 grand in trust wallet, which is nice! I like to look at wallet activity before jumping in and I see wallet rank 4&5 send multisend tokens 14 days ago and 1 day ago. Those...
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