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CO Horn

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Posts posted by CO Horn

  1. 6 minutes ago, Thetexashammer said:

    https://www.brookings.edu/blog/brookings-now/2013/10/03/what-percentage-of-u-s-population-is-foreign-born/

    If I was imprecise in my terminology I apologize. But that is what I was getting at. It's not a disputed number.

    Scottsins, there was no lying, but please do have a lovely evening.

    Foreign born does not equal non-citizens,  but I’m sure you already knew that. 

  2. 5 minutes ago, ChiTownDoc said:

    Oh the intent was great.  I’m in many of them.  But there’s areas such as DUMBO in NYC where real estate is $2000/sq foot that qualify.  The Marriott right across from where the pacers play in Indy.  There’s dozens more examples.  

    Remember you pay what you owed on the initial cap gain - in 10 years if it’s held that long.  Then ZERO on whatever gains you make on that project.   

    Sure, if they stuck to what it was supposed to be and truly operated out of depressed areas needing an infusion of cash you can argue it’s good...even then the present value of what the govt gets today vs in 10 yrs would be hard to swallow. 

    Don’t disagree with that, but think 1031 exchanges are even more egregious. 

  3. 2 hours ago, ChiTownDoc said:

    That problem just got a LOT worse with opportunity zones, bipartisan tax cheat that was passed.  

    I disagree on the opportunity zones.  They don’t eliminate capital gains, just defer them. Also, investments in opportunity zones can improve economically depressed areas. Colorado did a good job at establishing these zones. Only one gave me pause. 

  4. 1 minute ago, David Dennison said:

    The QBI only applies when incorporation is involved, correct?

    No, it applies to anything other than a C Corp. Sole Proprietors, Partnerships, and S Corps, and rental real estate under certain circumstances. 

  5. Have plenty of clients with a Schedule C, a couple of rentals, Farm income with sales to Co-Ops, 3 or 4 K-1s. The QBI calculation will be fun. 

    Not to mention K-1s that we don’t prep, the new partnership audit rules, etc. Will be interesting to see what our revenue increase is. 

  6. 32 minutes ago, Brew said:

    Man, after the first week of returns coming through the door, these changes are an epic clusterfuck. The IRS is behind on guidance, the forms look ridiculous, if you own a partnership or rental real estate good luck on getting your return correct, etc. One positive is fee increases are going up substantially, so for those that pay someone to do your return go ahead and grab your ankles and get prepared.

    Yep, seeing the same thing here. For those people that self-prepare with any complexity, they will likely be doing things wrong. 

  7. The problem is not Rivera being unanimous, but the fact that no other player has been unanimous. There are easily 100 that should have been unanimous.  That is the real travesty. Give me one reason that Maddux, Gwynn, Ryan, Seaver, etc. were not unanimous. 

    • Like 2
  8. Abraham
    Aderholt
    Allen
    Amash
    Amodei
    Babin
    Biggs
    Brady
    Brooks (AL)
    Byrne
    Carter (GA)
    Cole
    Collins (NY)
    Comer
    Davidson (OH)
    DesJarlais
    Duncan
    Dunn
    Estes
    Fleischmann
    Fortenberry
    Gosar
    Graves (GA)
    Grothman
    Harris
    Hern, Kevin
    Higgins (LA)
    Hollingsworth
    Hunter
    Joyce (PA)
    Kelly (MS)
    King (IA)
    Kustoff (TN)
    Lesko
    Marshall
    McClintock
    Miller
    Mooney (WV)
    Mullin
    Norman
    Pence
    Posey
    Roe, David P.
    Rogers (AL)
    Rose, John W.
    Rutherford
    Smith (MO)
    Steube
    Thompson (PA)
    Weber (TX)
    Woodall
    Yoho
    Young

    Here's who voted no on the resolution

    • Like 1
  9. 13 hours ago, hayden_horn said:

    so i was at heb, waiting to buy a sixer of lone star in the express aisle. i glance over to the self-check aisle and see a uniformed TSA officer buying a handful of items obviously for her dinner. 

    then i witnessed a guy about to check out notice her, and he took his few items over to her and (i couldn't hear what he said, so this is assumption) "let's combine these and let me pay for them."

    i watched as she scanned her items, then he scanned his and paid for all of it. 

    now it wasn't much - she probably had $10 worth of items.

    but it kind of made my day. people are still good out here.

    A number of restaurants here are offering free lunches to government employees.  The Denver ATC Center is here so there are a number of employees affected by the shutdown.

  10. 4 hours ago, Brew said:

    If that’s her plan she brought up on TV what does that impact, 10k-12k taxpayers that pay somewhere around 20% of total tax collections already. They will tax plan their way right around that issue. Let’s adjust capital gains and qualified dividend  rates back to something reasonable where all in that group are paying equitably first. Do away with this stupid pass through deduction too and force people to go to C corps if they want lower rates where it is more expensive to get the money out.

    Put out a plan that has a shot and makes sense. When tax collections and budget numbers come out for 18/19, someone needs to be ready for a plan to turn this because I don’t see any way it isn’t way worse than projections. Add a recession to the backside of it later this year and next year and we’re f-ed.

    Could not agree more. It's going to be ugly.

  11. Just now, Smax said:

     

    just saying if congress wont act, trump should and if possible take all steps without legislation 

    So the Democratic controlled house passes legislation and the Republican controlled senate refuse to bring it to a vote constitutes no congressional action? Got it. 

  12. 2 minutes ago, Smax said:

     

    no its irrelevant, executive over reach is nothing new, unless youre saying it only matters when the "other party" does it

    Confused as to how the legislative branch passing legislation constitutes executive overreach.

  13. 21 minutes ago, Thetexashammer said:

    Macron went back and attacked the protesters again. The ones who have 80% support of the population. He's such a snob he hates his own voters. It's a very difficult situation when a leader and a population obviously hate each other but the leader won't just leave honorably. 

    https://www.breitbart.com/europe/2019/01/01/unapologetic-after-bruising-year-macron-slams-yellow-vests-as-a-hateful-crowd/

     

    Substitute Trump for Macron and you may be on to something. 

  14. 1 hour ago, Hank Kingsley said:

    Serious question: Can anyone name a single Republican that is worth a shit in Congress? A person that stands up to Trump and isn't a total shitbag on social issues? I'd love to feel good about SOMEONE on that side of the aisle. 

     

    Most likely to vote against Trump in Senate

    Jon Kyl - Gone

    Rand Paul

    Susan Collins

    Mike Lee

    WOW

  15. For a lot of taxpayers the SALT limitation is not that big of an issue.  Yes, my deduction is capped at 10k, but I was in AMT, so I wasn’t benefitting from the additional tax deduction anyways.  

    Like Brew, I have a number of clients that will see their tax liability decrease by six figures. It will be interesting to see what tax revenues are based on the tax cuts. 

  16. On 1/2/2019 at 8:22 PM, jimmyjazz said:

    In my hyperactive teenage brain, Toni Tenille occupied the memory bank adjacent to that of Lauren Tewes:

    <errr, RIP Cap'n>

     

    Related image

     

    Image result for lauren tewes

     

    Whatever you do, don’t google Images of Lauren today. 

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