Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville 2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
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F Me In The Brain
this knows everybody from other commets Posts: 30,816
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
These are self fulfilling prophesies. They believe Biden is bad, so they make bad decisions which hurts them. It's hilariously sad.
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
These are self fulfilling prophesies. They believe Biden is bad, so they make bad decisions which hurts them. It's hilariously sad.
agreed....it's like they think as soon as Biden steps into the Oval the tax rates adjust to what some meme on Facebook says
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville 2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
These are self fulfilling prophesies. They believe Biden is bad, so they make bad decisions which hurts them. It's hilariously sad.
agreed....it's like they think as soon as Biden steps into the Oval the tax rates adjust to what some meme on Facebook says
It's crazy. America is going into the crapper because of...Joe Biden? How does this jibe with their "47 years of not getting anything done." Worst case, it's the same stuff they survived from 2009 to 2017 (even better because it's a white guy!) Don't vote for him; don't agree with him; don't like him, but suggesting he's going to be the downfall of America is like suggesting continuing to play Even Flow is going to be the downfall of PJ shows. You might not be super pumped to hear Even Flow yet again. You might prefer to replace it with Fatal, but the show, while not optimal, will still be great.
1995 Milwaukee 1998 Alpine, Alpine 2003 Albany, Boston, Boston, Boston 2004 Boston, Boston 2006 Hartford, St. Paul (Petty), St. Paul (Petty) 2011 Alpine, Alpine 2013 Wrigley 2014 St. Paul 2016 Fenway, Fenway, Wrigley, Wrigley 2018 Missoula, Wrigley, Wrigley 2021 Asbury Park 2022 St Louis 2023 Austin, Austin
It says the survey was fielded November 5th through 7th. The race was called on the 7th.
Typical misleading trash from an evil source.
Yeah, that's the key. "Unsure" is a reasonable response for some of that time period. And, of course, most respondents are going to just say the candidate they prefer. But since it's been called, the numbers have shifted greatly towards Biden.
1995 Milwaukee 1998 Alpine, Alpine 2003 Albany, Boston, Boston, Boston 2004 Boston, Boston 2006 Hartford, St. Paul (Petty), St. Paul (Petty) 2011 Alpine, Alpine 2013 Wrigley 2014 St. Paul 2016 Fenway, Fenway, Wrigley, Wrigley 2018 Missoula, Wrigley, Wrigley 2021 Asbury Park 2022 St Louis 2023 Austin, Austin
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Kat
There's a lot to be said for nowhere. Posts: 4,782
Biden
Election comment by someone in Congress ... (I'm biting my tongue.)
So here's some of the first analysis on the voting. There's quite a but and some of it seems contradictory. But in general, it looks like Trump made inroads with some minorities, especially Black men and Asians. Biden cut into men a bit and ran up the score on women. No real surprises. Trump consolidated the R vote even more effectively than in 16. Never Trumpers probably didn't help. However, what stands out to me is that Biden won moderates and Indy's by 12 points, after Clinton lost them. There are some other interesting tidbits, including Biden's success with Catholics. That's very important in states like PA and MI which are VERY Catholic heavy. There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish.
So here's some of the first analysis on the voting. There's quite a but and some of it seems contradictory. But in general, it looks like Trump made inroads with some minorities, especially Black men and Asians. Biden cut into men a bit and ran up the score on women. No real surprises. Trump consolidated the R vote even more effectively than in 16. Never Trumpers probably didn't help. However, what stands out to me is that Biden won moderates and Indy's by 12 points, after Clinton lost them. There are some other interesting tidbits, including Biden's success with Catholics. That's very important in states like PA and MI which are VERY Catholic heavy. There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish.
The tRump campaign made a serious effort to lasso in black votes. It's interesting that you mentioned Asians, etc. because I had seen videos from facebook groups called "Vietnamese for Trump", "Chinese Citizens for Trump" Plus...lots of vides that were targeted at the African American community that appeared to just be straight up bullshit where a black person would be talking about how "I used to be a democrat but they never did anything for me and Trump has done so much for me" type of crap.
The tRump propaganda machine was well tuned.
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville 2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Anybody know someone that’s taken part in the Walk Away campaign? I’m guessing it’s bubkiss too. Trucker strike? Only stuff I’ve seen on social media is truckers talking about how unAmerican it is.
So here's some of the first analysis on the voting. There's quite a but and some of it seems contradictory. But in general, it looks like Trump made inroads with some minorities, especially Black men and Asians. Biden cut into men a bit and ran up the score on women. No real surprises. Trump consolidated the R vote even more effectively than in 16. Never Trumpers probably didn't help. However, what stands out to me is that Biden won moderates and Indy's by 12 points, after Clinton lost them. There are some other interesting tidbits, including Biden's success with Catholics. That's very important in states like PA and MI which are VERY Catholic heavy. There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish.
You can likely include very liberal in with those independent gains for Biden-Harris. In addition to winning moderates because, well, he's a moderate (always has been), I think the campaign also won over most of the very liberal independent voters because instead of ignoring their existence, the Biden-Harris campaign's policy proposals actually reached out to and incorporporated some of the wishes of this sect more than Clinton-Kaine, which just sort of brushed them off as a another basket of not deplorables so much as lost causes.
Anecdotally, which ain't worth much but a brief mention, I've seen quite a few (very liberal folks, that is, imho) on AMT claim that they would or did vote for Biden. Not sure if those same folks pulled the lever for Clinton-Kaine.
So here's some of the first analysis on the voting. There's quite a but and some of it seems contradictory. But in general, it looks like Trump made inroads with some minorities, especially Black men and Asians. Biden cut into men a bit and ran up the score on women. No real surprises. Trump consolidated the R vote even more effectively than in 16. Never Trumpers probably didn't help. However, what stands out to me is that Biden won moderates and Indy's by 12 points, after Clinton lost them. There are some other interesting tidbits, including Biden's success with Catholics. That's very important in states like PA and MI which are VERY Catholic heavy. There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish.
You can likely include very liberal in with those independent gains for Biden-Harris. In addition to winning moderates because, well, he's a moderate (always has been), I think the campaign also won over most of the very liberal independent voters because instead of ignoring their existence, the Biden-Harris campaign's policy proposals actually reached out to and incorporporated some of the wishes of this sect more than Clinton-Kaine, which just sort of brushed them off as a another basket of not deplorables so much as lost causes.
Anecdotally, which ain't worth much but a brief mention, I've seen quite a few (very liberal folks, that is, imho) on AMT claim that they would or did vote for Biden. Not sure if those same folks pulled the lever for Clinton-Kaine.
My wife and I are (edit) leftists (edit) that would not under normal circumstances vote for Biden. We did this time, partially due to his actually addressing and reaching out to the left....Joe’s turn to the left was really only our secondary concern. The reason we donated to campaigns and volunteered any time was because we wanted literally anyone that wasn’t Donald Trump to win. 4 more years of Trump would have been a disaster. People are celebrating the historic turnout and Joe Biden’s record setting vote count, but the reality is if Trump wasn’t such a complete and utter disaster we wouldn’t have broken any records.
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
I have some clients who have made drastic moves.....one moved his family to another state because he feared for the safety of his adopted children who are of a certain minority group. The same client also was thinking of moving to New Zealand if Trump had won again.
Come December, we will probably advise our clients to accelerate income into 2020 in preparation of tax rates possibly rising in 2021.
The favorable long term capital gains rate has been around for a long time. I don't see it going anyhere.
Here are a few recent situations I have encountered with some of my clients (I'm a CPA)
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
I have some clients who have made drastic moves.....one moved his family to another state because he feared for the safety of his adopted children who are of a certain minority group. The same client also was thinking of moving to New Zealand if Trump had won again.
Come December, we will probably advise our clients to accelerate income into 2020 in preparation of tax rates possibly rising in 2021.
The favorable long term capital gains rate has been around for a long time. I don't see it going anyhere.
I don't see the tax rates changing until the after mid terms. But then they expire in 2024 anyway.
Comments
"Well, you tell him that I don't talk to suckas."
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
1. Guy panicked at the end of October....thought that Biden was going to win and market would tank. He liquidated his investment account and generated $620K in taxable capital gains. $220K in short term (ordinary income tax rate) and the rest long term.
2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property. He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over. I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k. Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?
3. Lady is selling a rental property in early 2021 that will have a $20K capital gain. She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property. Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.
It's getting close to impossible to advise people in this fucking environment.
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Let them eat cake!
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
2013 Wrigley 2014 St. Paul 2016 Fenway, Fenway, Wrigley, Wrigley 2018 Missoula, Wrigley, Wrigley 2021 Asbury Park 2022 St Louis 2023 Austin, Austin
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Poll: Less than Half of America Believes Joe Biden Won the Election
https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#They still out there yo.
Libtardaplorable©. And proud of it.
Brilliantati©
Typical misleading trash from an evil source.
Yeah, that's the key. "Unsure" is a reasonable response for some of that time period. And, of course, most respondents are going to just say the candidate they prefer. But since it's been called, the numbers have shifted greatly towards Biden.
2013 Wrigley 2014 St. Paul 2016 Fenway, Fenway, Wrigley, Wrigley 2018 Missoula, Wrigley, Wrigley 2021 Asbury Park 2022 St Louis 2023 Austin, Austin
There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish.
https://www.washingtonpost.com/graphics/2020/elections/exit-polls-changes-2016-2020/?itid=hp-banner-main
The tRump propaganda machine was well tuned.
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
McEnany predicts 'quite large' turnout at 'Million MAGA March' in DC
https://thehill.com/homenews/news/525673-mcenany-expects-turnout-to-be-quite-large-at-million-maga-march
https://apple.news/A_FY5xFXbQkOt7K0-ugrdpg
Libtardaplorable©. And proud of it.
Brilliantati©
Good, and smart, move by your daughter.
I read there will be a counter protest and the Proud Boys will also be there. What could possibly go wrong?
Anecdotally, which ain't worth much but a brief mention, I've seen quite a few (very liberal folks, that is, imho) on AMT claim that they would or did vote for Biden. Not sure if those same folks pulled the lever for Clinton-Kaine.
There are no kings inside the gates of eden
Come December, we will probably advise our clients to accelerate income into 2020 in preparation of tax rates possibly rising in 2021.
The favorable long term capital gains rate has been around for a long time. I don't see it going anyhere.