• Welcome to OGBoards 10.0, keep in mind that we will be making LOTS of changes to smooth out the experience here and make it as close as possible functionally to the old software, but feel free to drop suggestions or requests in the Tech Support subforum!

Chat Thread: biff brings board balance

Status
Not open for further replies.
Well, maybe if you had told me they were delicious Triscuit crackers I could have enjoyed them with you.


Also, the correct answer is Biff’s colonoscopy.
 
01_27_t.gif
 
First time heading back stateside in 6 months. I thinking I'm gonna hit a BWW, try some pizza places, and restock my bourbon. I would say Chick Fila, but I am going to NYC (for a wedding) and I haven't heard great thinks about that one.
 
Don't buy your bourbon at duty free. It's more expensive than at stores.
 
Andie MacDowell. The shittiest and most inexplicably successful actor of the last half century.

That's no way to talk about Jon Abbate's mom !

Speaking of punchable faces... ted cruz and mini ted (grayson allen) have to be near the top of the list.

ronnie wellman is up there as well.

Luke Kennard

Don't buy your bourbon at duty free. It's more expensive than at stores.

rj helping the 1% find more loopholes in the tax code !
 
Huh? Unrealized capital gains make up the majority of large estates. These gains have never been taxed, let alone twice. Need to repeal the step up in basis loophole, among others.

I think people confuse what’s actually being taxed.

Presumably, I make $100 in income and the government takes $35.

I invest the remaining 65 after tax dollars in stocks. They appreciate $10. I sell for $75. I report a gain of $10 and pay $1.50 on that gain.

The only way that $65 is taxed again is if I pay an estate tax.

Step up in basis is awesome. It’s not a loophole. A loophole is using the Tax Code to circumvent taxes in a way not intended. Stepped up basis does exactly what Congress intended.
 
Right but if it goes 65 to 75 and you die before you sell isn’t that 75 the basis for the heirs? And so if they sold for 74 they’d actually realize a taxable loss despite the stock appreciating $9 with no tax? Been a while since I looked at this.
 
Right but if it goes 65 to 75 and you die before you sell isn’t that 75 the basis for the heirs? And so if they sold for 74 they’d actually realize a taxable loss despite the stock appreciating $9 with no tax? Been a while since I looked at this.

Yes. That’s why I love it.
 
Yeah that’s why it’s terrible. That gain is never taxed. I understand that’s the intention. It’s terrible policy
 
Yeah that’s why it’s terrible. That gain is never taxed. I understand that’s the intention. It’s terrible policy

Then most people will have to sell their parents house when they die to pay the taxes (or take out a mortgage)
 
First time heading back stateside in 6 months. I thinking I'm gonna hit a BWW, try some pizza places, and restock my bourbon. I would say Chick Fila, but I am going to NYC (for a wedding) and I haven't heard great thinks about that one.

I couldn't not read this as, "beautiful white woman." I've been watching way too much porn.
 
Buncha mama's boys from getting all those participation trophies.
 
Then most people will have to sell their parents house when they die to pay the taxes (or take out a mortgage)

Right, that would be great! Pretty good investment to take out a mortgage for a small fraction of the actual worth of the home. But if you don't want to do that, then sell it.

But isn't like the first 500k in capital gains except from taxation on your primary residence anyway? I'd bet in a hypothetical world of a repealed stepped up basis, there would be some relief for the situation you describe (though I'm not sure there should be).
 
Stomach is straight tore up from the floor up this morning. About to go crop dust this kid that's a pain in my ass in my first period. With luck, everyone will think it's him that farted, and I won't shit all over myself. Need some thoughts and prayers, chat friends.
 
Status
Not open for further replies.
Back
Top