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Brew

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Posts posted by Brew

  1. You also cut off the liability of the old entity rather than assuming it with a stock sale. Asset sales outnumber stock sales in our client base 99-1 at least. I have one stock transaction currently and that is the first one in quite a while other than a couple here and there to private equity groups.

  2. 2 hours ago, G650 said:

    Where in SFl? Trying to get availability in winter is quite the pain for boat clubs, and the boats frankly suck. Are you trying to ski or fish? Or just cruise?

    I wouldn't own anything but a center console in Florida as far as small boats. You can probably get the same boat we have, a Jupiter 31, for reasonable money these days.

     

    Sanibel, so it would be out of the Ft Myers club. Fishing and cruising would be the only use there but we will be flipped from most people. We’ll be there from the middle of May until early August going forward as well as from 12/15-1/10 and then a few weeks intermittently through the year. I was looking at buying a 24 foot bay boat but our neighborhood is pretty restrictive. I could probably get away with a 24 foot with no t-top but then I got to looking at the Freedom deal and saw they had a short year option.

  3. 23 minutes ago, JimmyJames said:

    And what would the percentage of privately held companies would that be? 

    Based on your past posting in this thread, I’m not sure why I’m even asking this. However, what exactly is your question?

  4. I drove 11 hours to pick up my last boat at Texas Marine. The two before that were both bought south of Chicago 8 hours away. Once you narrow down the boat, keep your eyes out for a good buy everywhere.

    8 people is a big number especially if you don’t have a house as a base of operations. Are the lakes set up to where you can pull in and out from a good shore spot or are you on the water beginning to end? Water toys and stuff you need take up a lot of space and there is no good way to carry tubes while doing other stuff. You’re going to need to be in the 24 foot range to have the space you need. You can also become really good buddies with someone that has a 28 foot pontoon and eliminate the space problem.

  5. 39 minutes ago, TwiceHorn said:

    And people rarely trade stock in small private corporations, so capital gains treatment is mostly irrelevant in that context.  Any return on that investment is going to be in the form of salary or dividend, both taxed at ordinary rates, or pass-through, again with ordinary income taxation.

    That’s not true at all. There are plenty of privately held entities that sell on an annual basis and most sell under an asset sale scenario. The gains over depreciation recapture are taxed at capital gains rates just like a stock sale.

  6. 30 minutes ago, lonestarsooner said:

    We live in The Woodlands. Don’t plan on spending much time on Lake Conroe. Not a fan of it. Would probably be driving to Canyon Lake on weekends we go out. I’m just introducing the kiddos to fishing so yep, it’s probably going to be used for more social/recreational than fishing unfortunately. Would still like to take it out myself fishing occasionally. 

    If you have the room, I would look for a ski boat/cruiser/wakeboard boat that fits your needs and pick up a cheaper boat for fishing. The difference between them has a lot to do with how much you want to spend and your specific needs. I’ve always had a wakeboard boat as it is the most versatile for me because we don’t do much riding around/cruising. We also rarely ever beach it as we use a pontoon as a floating dock on the weekends and we’re not running in water depths that could cause problems for an inboard.

    A fish and ski isn’t going to have the space or the layout to get multiple people on board. I see more and more people on the water using bay boats to pull tubes though, so you can always go that route.

  7. Article says receipts up over 10 month period. 7 of those months fall in 2018. The only month specifically mentioned as down is July. Article last week said withholdings are going to be short this year due to table issues which will result in additional money or less refund in Spring of 2019. 

    Point remains that it is too early to make any sort of determination as to what receipts will be for this year and the overall affect of the tax law changes on receipts and the CBO makes that same  assessment in the article. The Hill’s article is misleading above which was what started my questions.

    Hope that clears up your confusion.

  8. 14 minutes ago, Mojo Hand said:

    You said this proves that "Trump was right, lower taxes leads to more tax revenue. We should celebrate."  Now you are saying that the low receipts aren't necessarily caused by the tax law, we have to wait and see.   Those are two different arguments. 

    Did you completely skip the first paragraph of the post you just quoted?

    • Like 1
  9. 28 minutes ago, David Dennison said:

    You didn't read any of the report, did you?

    Yes, did you? The first sentence in my post was facetious for the record in case that wasn’t clear enough to you.

    “Although some provisions of last year’s major tax legislation (Public Law 115-97) affect receipts, the timing of those effects is highly uncertain. The amount collected in recent months might not indicate the amount that individuals or businesses ultimately will pay for tax year 2018.”

    That from the CBO report doesn’t really match up with “The rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending, according to CBO.” from the Hill article.

    Hence the reason I asked what they base it on. There was a report out last week that individuals were going to owe more than expected at year end because of screw ups in the IRS tax tables this year. We’re two estimated payments and half a year’s withholding into the tax law changes at this point. I think the corporate reduction is ultimately going to greatly exceed expectations, but it’s still early.

  10. Trump was right, lower taxes leads to more tax revenue. We should celebrate.

    The headline in the post above is slightly misleading when the article specifically states that the effect of tax law changes on collections is uncertain. The article makes more sense than the Hill link above.

  11. Anyone do a seasonal type membership with Freedom Boat Club or one of the others rather than an annual? I’m trying to get a rough cost to decide whether I just want to buy, but I don’t really want to call them and get on their radar yet. We’ll be in South Florida for 3 months a year going forward so it makes some sense to look into it so we have a variety of boats to use. I’ve also got restrictions on what can be kept at the house so owning may end up being too much trouble and I don’t think the MC is going to be that useful down there.

    I’m also curious whether you run into issues using boats back to back days as we’ll be out quite a bit. 

  12. 1 hour ago, Handcruser said:

    I hate the fish and ski's because they dont do either very well. You're also getting to the point where your kids are going to be more into social activities with friends than they are now. I would bet they would be more interested in skiing/tubing/surfing on the weekends with friends than they would a 5am wake up call for fishing. Especially your daughter.

    If I'm accurate, then I would go ski boat all day every day. And if you play your cards right and shop wisely, you can get something really nice for under 25k.

    I would go inboard, with a tower and speakers. Preferably v-drive. Everyone will say master craft, Malibu, nautique, etc. Those are all good but crazy priced.

    Lots of other good options out there if well cared for and low hours.

    Sent from my SM-G960U using Tapatalk
     

    You just have to shop, be willing to travel, and not plan on buying new within that budget. I bought an 06 MC X-1 for the number you have above and wouldn’t sell it for close to that if someone laid cash in front of me tomorrow.

  13. You will have to wait on G650 as he is the only one qualified to make boat recommendations.

    Do you fish or are you looking at that style because it is what you had before? Have you had boats as an adult? What type of lake/river are you on as far as rough, fairly smooth, etc? Do you like to cruise, carry many people, just want to pull tubes, etc?

    • Like 2
  14. I’m curious how they track their information. Outside of the bonus depreciation component that was retroactive to 9/1/17, all other changes were 2018 changes. Do they use estimates of tax collections during the year since collections really only happen quarterly? Are they using actual spring collections which are just true up payments/refunds and quarterly estimates?

  15. I have it, doctor says it is nerves compressing because of your arm being at an angle and your weight compressing the elbow/shoulder. Your body is trained to wake up before it goes too far which is why you wake up. It still can cause long term nerve issues according to him and if you drink it can be a serious issue because you don’t wake up like you are supposed to. 

    We changed our mattress and pillowsto something more supportive and the issue isn’t as bad but still happens. I can’t sleep on a soft mattress with a soft pillow at this point or it happens all night long.

  16. 8 hours ago, kevwun said:

    The DA has now dropped the murder charges against both of the brothers.  From the little I read and saw of it, it was a really big leap to charge them with murder when they didn't have any proof that they knew that it was going to happen and neither was directly involved.

    The whole thing seems like a bad deal but who knows what all really went on. Flashing the money on Instagram and a few other things made it not look all that great for them. Once they got back in the vehicles and left with the other two, it wasn't going to end well for them whether they knew or not. It's been in the news quite a bit here locally and has been interesting. The older brother seemed to be completely clueless about any of it and still ended up losing his football scholarship and having to leave IU. Isaiah comes across like he has the mentality of a kid in everything that is out there. Then their house burns this spring. It's been a rough year and there is no way Isaiah makes it through his 5 years.

  17. 15 hours ago, Hank_Hill said:

    Is it all the same? Obviously not. But its still fucking pizza and I have yet to try any that made me say "Hey, I'd rather not be eating this."

    Next time you’re in St Louis try Imo’s and get back with me. My wife loves it. I grab something at the hotel bar or ball game the nights she wants Imo’s.

  18. 15 hours ago, Dutchrudder said:

    Breaking Bad is the greatest TV show of all time, and Ozymandias is the best episode of the show. How that's not in the top 3 is beyond me. Somehow The OC and Survivor got rated higher. lol...

    I assume Survivor is pretty high because it basically started that genre of show that now dominates the TV. 

    There are a number of shows in there I have never heard of. I watch very little TV but I did find that strange.

  19. 3 hours ago, Pescado_Rojo said:

    Anyone that fishes regularly in Florida should be supporting that organization. The voters already passed Amendment 1 and US Sugar has already agreed to sell the land needed for the corrective actions, but everything is held up like usual.

    https://www.mysanibel.com/Departments/Natural-Resources/Protecting-Our-Water-Quality/Sanibel-H2O-Matters

    For those that want to see what the effect of the water releases are, go to the website above and view the current Lighthouse Beach Aerial images and then click the 2018 archives and view the February/March images. You'll also see the beaches empty in the current pictures because no one is going out.

  20. 30 minutes ago, Ogie Ogilthorpe said:

    Red tide keeping me off the water this weekend.  Dead fish everywhere, 400 turtles cleaned off the beach. Whale shark even washed up.  The worst was a baby manatee clinging to its dead mother. 

     

    It it is fucking  brutal

    Sitting on a Sanibel now and it’s a sad mess. In 20 years of coming down here, I haven’t seen anything like it. We tried walking the beach yesterday and it has improved, but the smell of death is still strong. The fisheries have taken a beating based on what I have seen on the beach and floating in the water the last few days. Ended up not doing any fishing because of it. Bought another house while here though, so hopefully it gets better.

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