Re: stock market tips
[Re: adam m]
#6123482
01/13/18 11:40 AM
01/13/18 11:40 AM
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Joined: Jan 2012
Posts: 1,639 Warren co Mo
hrdtoflw
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trapper
Joined: Jan 2012
Posts: 1,639
Warren co Mo
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The biggest issue I have had with my stock, is with accountants. Ours told us last year that our K-1 form is very extensive, and takes a lot of though to get the returns figured out. Mine is different, due to owning stock in an S-corp, which I work for. Tweed, if the money is in grinners, I could be a millionaire pretty darn quick. It has taken 40 years, but I have perfected the perfect possom set. Adam, the best advice I have seen in this thread. Do not gamble with money, that you can't afford to loose. Loosing that money hurts the most!!!
If your mind draws a blank, turn off the sound, because ya can't learn a thing if you're doin all the talkin
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Re: stock market tips
[Re: walleye101]
#6123503
01/13/18 12:00 PM
01/13/18 12:00 PM
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Joined: Dec 2011
Posts: 10,402 MT
snowy
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trapper
Joined: Dec 2011
Posts: 10,402
MT
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Buy low - sell high. Should be buying up all the raccoon skins you can! This is great advise.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
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Re: stock market tips
[Re: white17]
#6123524
01/13/18 12:26 PM
01/13/18 12:26 PM
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Joined: Jan 2012
Posts: 1,639 Warren co Mo
hrdtoflw
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trapper
Joined: Jan 2012
Posts: 1,639
Warren co Mo
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[quote=white17]K-1 forms add very little complexity to a tax return. In fact, Turbo Tax will handle K1's with no problem at all. The biggest hassle with a K1 is that they are usually close to or after April 15th before you get them. Consequently, an automatic extension is usually needed. You CAN download the K1 on a timely basis depending on the issuer. The other thing to watch for is that LP's that issue a K1, are sometimes cumbersome in a tax deferred account like a IRA or 401K etc. due to UBI. "Unearned Business Income". There is a limit to how much UBI can be generated annually in a tax advantaged account. So you are better off holding those types of instruments in a taxable account.
Other than that, K1's really aren't much hassle [/quote
I'm thinking the problem with mine is in estimated tax payments. The company I work for, and I'm also a stockholder is an s corporation. We decided to change from a c corp, to an s corp, so we can make tax payments on behalf of the stockholders. So basically, they pay thier taxes , or a large percentage, through the stockholders. each stockholder has a percentage of the available stock, which is only 49% of the total. We will never let the company itself own under 51%, for obvious reasons. A percentage of the profits, which corrispond with my stock ownership, shows up as additional income that is added to my gross income. Thus, becoming my adjusted gross income. Throughout the year, estimated tax payments are made on my behalf, then tax time comes, and most of it is in my return. I still don't understand how it works, but I understand money in the bank. For years, our accountants tried to talk us into doing this. So the chage from a c corp to an s corp was made. The downfall is, where the company does work , I have to file for that state.
If your mind draws a blank, turn off the sound, because ya can't learn a thing if you're doin all the talkin
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Re: stock market tips
[Re: white17]
#6123536
01/13/18 12:41 PM
01/13/18 12:41 PM
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Joined: Jan 2012
Posts: 1,639 Warren co Mo
hrdtoflw
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trapper
Joined: Jan 2012
Posts: 1,639
Warren co Mo
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Sounds messy !!!! I see why you use an accountant Every year since the corp change, it has been a nightmare. Our accountant does work for a lot of the bussinesses in our town of around 7000 people. See's many K-1s, and cringes when we walk in.
If your mind draws a blank, turn off the sound, because ya can't learn a thing if you're doin all the talkin
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Re: stock market tips
[Re: adam m]
#6123538
01/13/18 12:43 PM
01/13/18 12:43 PM
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Joined: Jan 2012
Posts: 1,639 Warren co Mo
hrdtoflw
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trapper
Joined: Jan 2012
Posts: 1,639
Warren co Mo
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Adam , do you even have possums there. If not, come visit me, you could be the next gazillionaire
If your mind draws a blank, turn off the sound, because ya can't learn a thing if you're doin all the talkin
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Re: stock market tips
[Re: adam m]
#6124570
01/14/18 11:29 AM
01/14/18 11:29 AM
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Joined: Jan 2012
Posts: 1,639 Warren co Mo
hrdtoflw
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trapper
Joined: Jan 2012
Posts: 1,639
Warren co Mo
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A lot of info to digest. Hrdtoflw, supposedly there's some on the nm TX boarder. I'll go to MO to catch them for a million I'll move there for a billion I can guarantee, if possums were worth anything, the hillbilly's here would have them gone.
If your mind draws a blank, turn off the sound, because ya can't learn a thing if you're doin all the talkin
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Re: stock market tips
[Re: adam m]
#6124810
01/14/18 03:04 PM
01/14/18 03:04 PM
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Joined: Dec 2006
Posts: 6,307 Wisconsin
RdFx
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trapper
Joined: Dec 2006
Posts: 6,307
Wisconsin
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Beav use all that yote and rat $$$$$$ you made this year.........to invest......
RdFx
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