All Forum Posts by: Account Closed

PACER covers Federal court records, evictions are in state courts. Their records won't be in PACER.

I live just outside Atlanta, GA, my properties in Renton, WA would definitely be the farthest away I hold at the moment.

I don't really see distance as a factor, but then I don't self manage either.

Originally posted by MikeOH:

I also think that the ecomony has many years of turbulent times ahead (maybe a decade). As long as an increasingly small number of taxpayers are expected to provide ever larger entitlements and handouts to an increasingly large number of people, this country will be in serious decline. A TOTAL COLLAPSE of our system and a fresh start is the only hope to restore our country to greatness (in the distant future) that it previously had. This collapse WILL happen and is a 100% certainty - the only question is whether that collapse will occur now or in a few years.

Well, there are a combination of things happening that may help pull us back from the abyss.

As I wrote on my blog today about preparing for the Obama Coronation in January, the truly wealthy pay only as much tax as they choose to pay. Since they don't tend to live hand to mouth like many Americans, they can delay or accelerate their incomes as they desire. They can choose when to realize and pay tax on capital gains, etc.

As Obama raises the taxes on the highest income levels, the revenues coming into the Treasury will drop. They always do and they always will.

To prepare, I am taking some capital gains off the table before the end of the year and setting it up so I can reduce my income for as long as I have to in order to pay same or less dollars in taxes as I do now.

I am not rich by any means, but I am grateful I don't have a debt load requiring me to generate an ever larger amount of income to cover the taxes and keep my head above water.

The net-net is as the revenues fall, there might be more pressure to reign in spending. It has happened before. Look at the Clinton budget projections before the 1994 election and after.

But, for now, it is time to make sure we as individuals can weather the perfect storm that will hit Washington in January. Pelosi in the control of the House, Reid in control of a possibly filibuster proof majority in the Senate and Obama in the White House to rubber stamp the evermore draconian socialist "reforms" we will see from Congress.

Next week will tell the story. The volume was about 3B shares today.

This could just be a dead cat bounce spread over the weekend or we could be wringing out the last of the miracle hoping holdouts.

The next trading day will give more clues. But, we have to see sustained buying over several days before things are going to stop getting worse.

Notice, I said nothing about when it will get better. The bleeding has to stop first, then the scab forms then eventually the scar.

One is for sure, next week will have a story to tell.

Originally posted by Matthew Gil:

Is it a pain in the ***? Sure. But, when it comes to personal safety, I could not live with myself, if someone was hurt or killed due to my negligence.

That is exactly why we were doing this LONG before it was mandatory anywhere.

First, that landlord needs to be facing the death penalty. He was renting a house that had been condemned! Then he puts the generator in there? Nope, sorry, roll up his sleeve and insert the needle.

Second, smoke and CO2 detectors are one of the first things we put in every new rental. And, guess what? We actually send someone to change the batteries every six months! Sometimes, the first time we do that with a new tenant the batteries will be missing. But, the lease says if the batteries are missing when we come out to replace them, there is a $75 charge for each unit missing its batteries. A few do it once, but none have done it twice.

The stock market dumped all over itself today and if it does not bounce back tomorrow (fingers crossed) we may actually be close to capitulation.

Once, if, that happens we will bounce a round for a while then the beginnings of a recovery will start to peek out of the rubble.

The stock market is always a leading indicator, the economy as a whole has at least six to nine turbulent months ahead.

Originally posted by Jordan Sabo:

why would it reduce your chances of getting audited? i would think it would be the opposite....

As returns are entered into the computers, or received from electronic filers, a scoring algorithm is run against the data. From that score random returns are chosen for audit and it is not a uniform number or even percentage of returns across all tax brackets. The later you file, the more of those random slots are filled.

Now, if you do something stupid like omit income for which you received a 1099 or W-2 you will first get a notice that they amended your return for you and telling you how much you owe. That will up your score next year and increase your chance your return will be reviewed and maybe audited.

The auditors are under tremendous pressure to make any audit a net gain for the government. Therefore, they tend to have the most interest in the lowest hanging fruit.

There are other things that reduce your chances of an audit. Things like using software like TurboTax or using a CPA with a strong history of successfully defending against audits.

Originally posted by MikeOH:

I haven't filed my 2007 taxes yet, so I can't answer personally. However, has ANYONE on this board gotten the entire amount from the 1st stimulus package, i.e. $600 for individuals, $1,200 for married couples, $300 for each child?

I don't know even ONE person that has gotten the entire amount. Anyone here have any comments? Did you get what you were expecting?

Mike

I'm not expecting to receive any of it. In the eyes of our ever increasingly socialist government, I don't need the money I make.

If anything does arrive I will throw it into the trading account.

Originally posted by Jordan Sabo:

curious as to why you guys send your taxes in like 5 months past the deadline... you like paying penalties?

You can file for an automatic four month extension by the April deadline. Then in August you can file for another two month extension with reason. For example, you have a subS that filed for a six month extension in March and you will not get your K-1 until the deadline in September. The second extension gives you until October 15 to file the return.

But, it is just an extension to FILE, not to PAY the taxes due. If you don't pay any taxes due by the 4/15 deadline then you get hit with penalties and interest.

BTW, I have a brother-in-law who is an IRS auditor, filing late absolutely does reduce your chances of a randomly chosen audit. But, if you are on their target list, well, then it would suck to be you at that point.