CO Horn
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Posts posted by CO Horn
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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.
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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.
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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.
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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.
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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.
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1 hour ago, HenryJames said:
Just go talk to George at Building and Loan and everything will be ok. Simple as that.
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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.
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Abraham
Aderholt
Allen
Amash
Amodei
Babin
Biggs
Brady
Brooks (AL)
Byrne
Carter (GA)
Cole
Collins (NY)
Comer
Davidson (OH)
DesJarlais
Duncan
DunnEstes
Fleischmann
Fortenberry
Gosar
Graves (GA)
Grothman
Harris
Hern, Kevin
Higgins (LA)
Hollingsworth
Hunter
Joyce (PA)
Kelly (MS)
King (IA)
Kustoff (TN)
Lesko
Marshall
McClintockMiller
Mooney (WV)
Mullin
Norman
Pence
Posey
Roe, David P.
Rogers (AL)
Rose, John W.
Rutherford
Smith (MO)
Steube
Thompson (PA)
Weber (TX)
Woodall
Yoho
YoungHere's who voted no on the resolution
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15 minutes ago, bad_teammate said:
This. Even the rurals are capable of laughing at themselves.
I don't think so. Have you seen the Q thread on TexAgs?
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52 minutes ago, Js1 said:
I see 4 individuals up for re-election in 2020 voted who with the Democrats (Collins, Daines, Gardner, McSally). Only Miss Lindsey has gone off the fucking deep end. Burr is probably not going to even run in 2022.
I think Lindsey knows that Trump is fucked and is positioning himself for a 2020 Presidential run.
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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.
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34 minutes ago, Hank Kingsley said:
I'm assuming the VP will be banned from the school's property then?
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nm
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2 hours ago, bolverk said:
Elections matter.
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2 minutes ago, Hugo Stiglitz said:
Fuck him
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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.
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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.
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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.
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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.
Substitute Trump for Macron and you may be on to something.
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21 minutes ago, Smax said:
hmmm sounds eerily similar to what she and the rest of the lunatic left want to do
You forgot to include the preceding sentence.
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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
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26 minutes ago, DaysOff said:
Have you people done your taxes already? Nobody knows shit until you're finished if you've been hit by AMT.
The new tax law makes it virtually impossible to be subject to AMT.
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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.
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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>
Whatever you do, don’t google Images of Lauren today.
~95K noncitizens registered to vote, ~58k voted in the last Texas election
in Cloak Room
Posted
Foreign born does not equal non-citizens, but I’m sure you already knew that.