Shame on the carpenters union for flying the USA Flag upside down

[heironymouspasparagus]

Do they not teach any math in lawyer school??  There has been reams of explanation on this and you still don't understand the magic of incentive stock options??  Which is what EVERY CEO in this country, plus thousands of slightly lower officers in those same companies use to get their income off the W-2 and onto the 1099, where it becomes a long term capital gains calculation???

And yes, I guess you could make a case that 16% is a lie.  The long term capital gains enjoyed by apparently everyone but you is 15%!  I stand corrected.

And just because you think it is crap doesn't change the reality of the tax code.  Long term capital gains IS 15% whether you like it or not.

Or are you just pissed because you haven't figured out how to "game" the system?
Maybe you need a new accountant.  Even an S corporation can use ISO's if done carefully. 

Geez....pay attention to what people say.  Don't be in such a gawd awful rush to get back to the RWRE script.  Listen to NPR once in a while so you can start the removal of all the RWRE poison from your system.


http://www.tulsanow.org/forum/index.php?topic=17280.0

  Yep, something about Mr. Wet Nurse?  That was your comment, wasn't it?  (And it was Guido who took the little quicky swipe at Cust and Swake).

[Conan71]

Actually it's not just LTCG's but rather being paid dividends beyond a certain amount of payroll income.

Don't blame the execs, the inherently wealthy, or the corporations, blame the tax code that Democrats have done just as much to protect as the GOP has with minor percentage changes here and there.  They simply do a good job of keeping the class envy rhetoric heated so that the middle and lower classes will continue to vote for them while not realizing they are still doing the bidding for the rich.

Go to a consumpmtion-based code and that would remove a lot of the BS people use to circumvent paying taxes.  Hell even many middle class citizens cheat the IRS by claiming bogus mileage and charitable giving.

[Gaspar]

Actually it's not just LTCG's but rather being paid dividends beyond a certain amount of payroll income.

Don't blame the execs, the inherently wealthy, or the corporations, blame the tax code that Democrats have done just as much to protect as the GOP has with minor percentage changes here and there.  They simply do a good job of keeping the class envy rhetoric heated so that the middle and lower classes will continue to vote for them while not realizing they are still doing the bidding for the rich.

Go to a consumpmtion-based code and that would remove a lot of the BS people use to circumvent paying taxes.  Hell even many middle class citizens cheat the IRS by claiming bogus mileage and charitable giving.

But that wouldn't punish the rich enough.   

[Hoss]

What is it with you and that damned 16% tax rate LIE you keep spewing. Are you an idiot or just jealous. Who knows. And yes, I am attacking you on this because I already told you that assertion is crap.

This brilliant and blatant dig at me will go unnoticed, but feel free to continue whining about me digging at others:

http://www.tulsanow.org/forum/index.php?topic=17280.0

That's a pretty bad defense of your tried-and-true use of the ad-hominem attack on people.  Even backhanded.  You remind me of three year old egging on his five year old brother.

Pretty passive-aggressive.  But then again, nothing about you surprises me anymore.

[guido911]

Do they not teach any math in lawyer school??  There has been reams of explanation on this and you still don't understand the magic of incentive stock options??  Which is what EVERY CEO in this country, plus thousands of slightly lower officers in those same companies use to get their income off the W-2 and onto the 1099, where it becomes a long term capital gains calculation???

And yes, I guess you could make a case that 16% is a lie.  The long term capital gains enjoyed by apparently everyone but you is 15%!  I stand corrected.

And just because you think it is crap doesn't change the reality of the tax code.  Long term capital gains IS 15% whether you like it or not.

Or are you just pissed because you haven't figured out how to "game" the system?
Maybe you need a new accountant.  Even an S corporation can use ISO's if done carefully. 

Geez....pay attention to what people say.  Don't be in such a gawd awful rush to get back to the RWRE script.  Listen to NPR once in a while so you can start the removal of all the RWRE poison from your system.


http://www.tulsanow.org/forum/index.php?topic=17280.0

  Yep, something about Mr. Wet Nurse?  That was your comment, wasn't it?  (And it was Guido who took the little quicky swipe at Cust and Swake).

What are you talking about? I am not a CEO of a large company who gets paid through stock options. I am the sole member in a PLLC and any fees I earn through my PLLC, usually through 1099s, is taxable income.

[heironymouspasparagus]

Conan,
That's the "entry level" method of tax avoidance.  And a very good one if the income level is not high enough to justify the ISO.  That's what I do whenever possible.  Pay yourself an annual income - reasonable for the job.  Then all further earnings distribute as dividends.  Avoid the 14% social security tax.

Anyone over a million in income would be crazy to stay with that, though.  Do an ISO plan.  Pay the principal a reasonable income, say $100,000 per year.  Just enough to be convincing that it is a reasonable income for the job.  And to maximize the social security contribution for the largest benefit after retirement.  Since that person is so critical to the operation, grant stock options - which are of course vested after one year, giving long term capital gains treatment.  Avoid not just social security, but get the 15% tax treatment.  Then sell the stock back to the company.  Wash, rinse, repeat.  (Probably more details depending on individual situation, but you get the gist.)

Guido,
I haven't spent much time looking at pllc, so don't know the benefits - does Oklahoma require it for lawyers - some states do.??  But last I looked and talking to my accountant, it is my understanding that it is much more difficult (impossible) to do iso's with that form.  

And if you get situated to save that extra 20% a year, I expect to be paid a one time $250,000 consulting fee.  (You will be saving about most of that every year from now on!)

Best of all you don't have to be CEO of big corporation.

[guido911]

Guido,
I haven't spent much time looking at pllc, so don't know the benefits - does Oklahoma require it for lawyers - some states do.??  But last I looked and talking to my accountant, it is my understanding that it is much more difficult (impossible) to do iso's with that form.  

And if you get situated to save that extra 20% a year, I expect to be paid a one time $250,000 consulting fee.  (You will be saving about most of that every year from now on!)

Best of all you don't have to be CEO of big corporation.

It's not required to be a PLLC/LLC in Oklahoma. But I will speak to my accountant about this, and if necessary I can draft my own formation documents. Fortunately, I have only been "rich" for about three years now so we will see if there is something different I can do.

[heironymouspasparagus]

I don't think you have to be rich to enjoy the benefits of our obscenely unfair tax system.
I am working hard to benefit from those laws!  With extremely limited success (actually none at all so far.)

Good luck!!  Seriously!

(But I still hope they change the laws - just like Warren Buffet!)

[guido911]

I don't think you have to be rich to enjoy the benefits of our obscenely unfair tax system.
I am working hard to benefit from those laws!  With extremely limited success (actually none at all so far.)

Good luck!!  Seriously!

(But I still hope they change the laws - just like Warren Buffet!)

Believe it or not I am open-minded to advice from those I have strong opposition to in general. But as a victim of horrific tax advice in the past, which resulted in a huge pain in the @ss audit, I have to make sure things are above board.

[Conan71]

Um guys, I'm bad as anyone about thread drift, but let's get back O/T or start a new thread on tax advice.

[heironymouspasparagus]

Hmmmm....how can I tie the tax discussion to the flying of the American flag??
Let me think...

Ok,...I got nothing....

I saw some picketers the other day at corner of 61st and Yale in front of the pink hospital (St. Francis - but I always think of it as the pink hospital).  When you see guys like that, if you are a true patriot, you gotta be happy that they are there, PROVING the promise and reality of this GREAT country!!  There may be hope after all - no government goon has even come up to them and opened up with a machine gun!  Unlike Libya....



By the way, Guido, I am not an accountant, but I do see what executives in C and S corps are doing, so I'm thinking it will work for me, too when I get there.  And ditto on that bad tax advice triggering full body cavity explorations.  They go up every orifice you got, plus 3 you never knew you had!!

Opinion moment;  IRS is a good ole fashioned, down home, honest to goodness Biblical style abomination.  When it is abolished, the return of the United States of America may be at hand!

[dbacks fan]

Remember, that if you build a new house, or remodel an existing one, and you hire out the work, these are the people that may do the work, and the only thing they may care about is what goes into their pocket. I went through that 13 years ago having a new house built, and the crappy work that was done then.

[heironymouspasparagus]

You must have used Home Creations as your builder.....

Sad.

[cannon_fodder]

1. They have a right to fly the flag upside down, it is simply a turd move.  Plus, at this point they are simply harassing not protesting and there NEVER was a labor dispute.  They didn't get the job.

2. Who said anything about illegal immigrants?  Did the winning bidder get busted on this job?  Or any other?  In our previous discussions the winning bidder posted the standard wage rate and it was fairly high - the union refused to discuss their wage rates.  The illegal angle is just unfounded here.

[Red Arrow]

2. Who said anything about illegal immigrants?  Did the winning bidder get busted on this job?  Or any other?  In our previous discussions the winning bidder posted the standard wage rate and it was fairly high - the union refused to discuss their wage rates.  The illegal angle is just unfounded here.

It's just a favorite talking point by one or more on TNF.