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ucodegen
Participant@andymajumder
They really are playing it as though prices might start going up again and this may cause a lot of potential buyers to jump back in.Maybe many knife catchers will jump in.. It may mean that I stay out for longer. With the real estate market the way it is, any down payment is dead money. Besides, with running into AMT, I can’t deduct mortgage interest when I have even a moderate LTCG (long term capital gain).
ucodegen
Participant@andymajumder
They really are playing it as though prices might start going up again and this may cause a lot of potential buyers to jump back in.Maybe many knife catchers will jump in.. It may mean that I stay out for longer. With the real estate market the way it is, any down payment is dead money. Besides, with running into AMT, I can’t deduct mortgage interest when I have even a moderate LTCG (long term capital gain).
ucodegen
ParticipantTake a CEO like Steve Jobs with that $1 annual salary. He doesn’t make money off of a salary, he’s rich off of all the assets and passive income that generates from it. And assets/passive income have so many more variables to play with. I seriously doubt someone like him pays the 35% tax rate, or sweats on which direction the government’s tax rules blows any given day.
You haven’t been paying attention…
LTCG tax is 15%.. BUT!!! if you are making over the AMT override minimum.. it don’t matter. You pay 26% fed. It overrides your LTCG rate. LTCG are taxed as income in CA, which is 9% top bracket. Best options is that you get skinned to 35% if all your income is LTCG.. even if you bring in $0 salary and $100mil LTCG. I know because I got skinned on some nice LTCG profit this way.You know.. with your constant ‘passive income’ statements, you sound like Casey Serin.
There are ways to use businesses to shelter income.. but you have to be real real careful. The IRS is clamping down on the abuses. The business has to be real and documented receipts.
Bottom line, really rich people have plenty of smart accountants, cpa, advisors, to figure ways around the system (legally, and sometimes illegally).
This is what is sold to the public.. but it is not completely true. I said “not completely” because the ways that some do it are illegal.
IRS defined middle class and below don’t pay the majority of the taxes either. It’s everyone in between. Always has and always will be.
Umm.. not correct. When Ronald Regan was governor, he was paying over $200k in taxes (fed) yearly. Back then, that was some real money too..
ucodegen
ParticipantTake a CEO like Steve Jobs with that $1 annual salary. He doesn’t make money off of a salary, he’s rich off of all the assets and passive income that generates from it. And assets/passive income have so many more variables to play with. I seriously doubt someone like him pays the 35% tax rate, or sweats on which direction the government’s tax rules blows any given day.
You haven’t been paying attention…
LTCG tax is 15%.. BUT!!! if you are making over the AMT override minimum.. it don’t matter. You pay 26% fed. It overrides your LTCG rate. LTCG are taxed as income in CA, which is 9% top bracket. Best options is that you get skinned to 35% if all your income is LTCG.. even if you bring in $0 salary and $100mil LTCG. I know because I got skinned on some nice LTCG profit this way.You know.. with your constant ‘passive income’ statements, you sound like Casey Serin.
There are ways to use businesses to shelter income.. but you have to be real real careful. The IRS is clamping down on the abuses. The business has to be real and documented receipts.
Bottom line, really rich people have plenty of smart accountants, cpa, advisors, to figure ways around the system (legally, and sometimes illegally).
This is what is sold to the public.. but it is not completely true. I said “not completely” because the ways that some do it are illegal.
IRS defined middle class and below don’t pay the majority of the taxes either. It’s everyone in between. Always has and always will be.
Umm.. not correct. When Ronald Regan was governor, he was paying over $200k in taxes (fed) yearly. Back then, that was some real money too..
ucodegen
ParticipantTake a CEO like Steve Jobs with that $1 annual salary. He doesn’t make money off of a salary, he’s rich off of all the assets and passive income that generates from it. And assets/passive income have so many more variables to play with. I seriously doubt someone like him pays the 35% tax rate, or sweats on which direction the government’s tax rules blows any given day.
You haven’t been paying attention…
LTCG tax is 15%.. BUT!!! if you are making over the AMT override minimum.. it don’t matter. You pay 26% fed. It overrides your LTCG rate. LTCG are taxed as income in CA, which is 9% top bracket. Best options is that you get skinned to 35% if all your income is LTCG.. even if you bring in $0 salary and $100mil LTCG. I know because I got skinned on some nice LTCG profit this way.You know.. with your constant ‘passive income’ statements, you sound like Casey Serin.
There are ways to use businesses to shelter income.. but you have to be real real careful. The IRS is clamping down on the abuses. The business has to be real and documented receipts.
Bottom line, really rich people have plenty of smart accountants, cpa, advisors, to figure ways around the system (legally, and sometimes illegally).
This is what is sold to the public.. but it is not completely true. I said “not completely” because the ways that some do it are illegal.
IRS defined middle class and below don’t pay the majority of the taxes either. It’s everyone in between. Always has and always will be.
Umm.. not correct. When Ronald Regan was governor, he was paying over $200k in taxes (fed) yearly. Back then, that was some real money too..
ucodegen
ParticipantTake a CEO like Steve Jobs with that $1 annual salary. He doesn’t make money off of a salary, he’s rich off of all the assets and passive income that generates from it. And assets/passive income have so many more variables to play with. I seriously doubt someone like him pays the 35% tax rate, or sweats on which direction the government’s tax rules blows any given day.
You haven’t been paying attention…
LTCG tax is 15%.. BUT!!! if you are making over the AMT override minimum.. it don’t matter. You pay 26% fed. It overrides your LTCG rate. LTCG are taxed as income in CA, which is 9% top bracket. Best options is that you get skinned to 35% if all your income is LTCG.. even if you bring in $0 salary and $100mil LTCG. I know because I got skinned on some nice LTCG profit this way.You know.. with your constant ‘passive income’ statements, you sound like Casey Serin.
There are ways to use businesses to shelter income.. but you have to be real real careful. The IRS is clamping down on the abuses. The business has to be real and documented receipts.
Bottom line, really rich people have plenty of smart accountants, cpa, advisors, to figure ways around the system (legally, and sometimes illegally).
This is what is sold to the public.. but it is not completely true. I said “not completely” because the ways that some do it are illegal.
IRS defined middle class and below don’t pay the majority of the taxes either. It’s everyone in between. Always has and always will be.
Umm.. not correct. When Ronald Regan was governor, he was paying over $200k in taxes (fed) yearly. Back then, that was some real money too..
ucodegen
ParticipantTake a CEO like Steve Jobs with that $1 annual salary. He doesn’t make money off of a salary, he’s rich off of all the assets and passive income that generates from it. And assets/passive income have so many more variables to play with. I seriously doubt someone like him pays the 35% tax rate, or sweats on which direction the government’s tax rules blows any given day.
You haven’t been paying attention…
LTCG tax is 15%.. BUT!!! if you are making over the AMT override minimum.. it don’t matter. You pay 26% fed. It overrides your LTCG rate. LTCG are taxed as income in CA, which is 9% top bracket. Best options is that you get skinned to 35% if all your income is LTCG.. even if you bring in $0 salary and $100mil LTCG. I know because I got skinned on some nice LTCG profit this way.You know.. with your constant ‘passive income’ statements, you sound like Casey Serin.
There are ways to use businesses to shelter income.. but you have to be real real careful. The IRS is clamping down on the abuses. The business has to be real and documented receipts.
Bottom line, really rich people have plenty of smart accountants, cpa, advisors, to figure ways around the system (legally, and sometimes illegally).
This is what is sold to the public.. but it is not completely true. I said “not completely” because the ways that some do it are illegal.
IRS defined middle class and below don’t pay the majority of the taxes either. It’s everyone in between. Always has and always will be.
Umm.. not correct. When Ronald Regan was governor, he was paying over $200k in taxes (fed) yearly. Back then, that was some real money too..
ucodegen
Participantthat massive spike is what interested me… what the heck was that…
I have no idea. The only thing I can think of is some people thinking that the removal of Moody’s ratings on them would make things better..
ucodegen
Participantthat massive spike is what interested me… what the heck was that…
I have no idea. The only thing I can think of is some people thinking that the removal of Moody’s ratings on them would make things better..
ucodegen
Participantthat massive spike is what interested me… what the heck was that…
I have no idea. The only thing I can think of is some people thinking that the removal of Moody’s ratings on them would make things better..
ucodegen
Participantthat massive spike is what interested me… what the heck was that…
I have no idea. The only thing I can think of is some people thinking that the removal of Moody’s ratings on them would make things better..
ucodegen
Participantthat massive spike is what interested me… what the heck was that…
I have no idea. The only thing I can think of is some people thinking that the removal of Moody’s ratings on them would make things better..
ucodegen
ParticipantThe following is not good, despite the positive spin. I would need to dig more.
http://www.reuters.com/article/marketsNews/idCAN2444964620080124?rpc=44
Any time a company asks for ratings to be pulled, brings into question the quality of the underlying assets. They are happy about a savings of $350,000 while they are a $6B institution?
Suggestion on the option: Ride it with a finger ready on the trigger… if you know what I mean
ucodegen
ParticipantThe following is not good, despite the positive spin. I would need to dig more.
http://www.reuters.com/article/marketsNews/idCAN2444964620080124?rpc=44
Any time a company asks for ratings to be pulled, brings into question the quality of the underlying assets. They are happy about a savings of $350,000 while they are a $6B institution?
Suggestion on the option: Ride it with a finger ready on the trigger… if you know what I mean
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