Just in case you don’t realize this, it’s fairly easy to figure out what company that is if you’re trying to keep that a secret (given that you cropped it).
Thanks but yeah I don’t care I’ve said many times my current shitty fortune 50 red bullseye company.
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In honor of this great occasion, I will share a montage from Career Opportunities — a John Hughes movie set in a Target and starring Jennifer Connelly that I somehow have never heard about until today
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You didn’t really miss much as the movie was bad, by far the worst Hughes film. Even Hughes shit on it saying that he lacked sufficient control to make it decent.
That said, I do love that song and video - particularly the roller skate dancing.
I’d seen this gif on Reddit before, never knew what is was from until now
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I wonder which video came first. I posted this one over in the music thread that uses clips from the same movie. Still haven’t taken the time to watch the movie though
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Yeah, I agree.
If Wookie writes that piece, he might even make her seem not horrible.
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I’ve said this before but I see tax returns of obscenely wealthy people and most pay zero tax. Not a little. Zero. It’s fucking outrageous. The doctor making $1 million pays like $350,000 more in taxes than the failson whose dad gifted him shares or whatever. Most people have zero idea this is happening.
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They’re just never realizing gains on anything and not drawing salaries, right? They pay interest rates instead of tax rates?
Depreciation.
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I have a large percentage of my salary in RSUs. My RSUs automatically get tax pulled out at vest. I fill out a standard W4 (single no dependents). I keep getting short at tax time by 25%. I guess something isn’t getting calculated right on withholding and I should just manually increase, but it is strange. Confirmed with someone else at my company it happens to them too.
Lol wow, so they’re basically just writing off their assets to match their earnings and netting out zero year after year?
Well, they’re not doing it. Accountants are doing it. These people can barely tie their shoe laces. 'Merica.
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I think the issue is that for special payments like this, the withholding is often way too low as it doesn’t take into consideration your regular earnings. Your normal withholding will be based on your regular income, so the withholding for the extra income should be based on your top marginal rate, but I think it’s often not calculated this way. I had the same issue when I used to get a decent portion of my salary as a bonus.
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happened with us when dealing with RSUs too, the first year was real fun
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An acquaintance of mine has managed to harness the power of depreciation to offset his W2 salary. Here’s the playbook
- Buy a fuckton of investment property (this takes a while).
- Have spouse become a “real estate professional” and manage the properties.
- He offsets his mid six-figure income against the depreciation of the property. Not sure if he is able to get all of his withholding back, but it is definitely a large amount
At least that is how it was explained to me. I assume you can confirm that if it it would work or not.
This sounds amazing if it’s feasible and doesn’t require like 10 million in investments or something. My wife will be making very large sums of W2 money for a long time and I don’t make that much so it would definitely make sense to put me in the property manager role. Does the wife actually do anything or do they pay a management company to handle stuff?
She does do some stuff, but a lot of the management is outsourced.
I think one of the keys is that she has no other job. She also got whatever certifications are required to become a realtor.
I don’t get it, how does having your spouse “manage” the properties allow you to take depreciation you otherwise couldn’t take?
@Riverman, you wanna take this? Anyone?
I don’t even know if it works, I’m just reporting what I heard.
It think that if she wasn’t a real estate professional, then there would be a cap on how much depreciation could offset his W2 income each year (rest would be carried forward to future years). But if she is a pro, then there is no annual cap. I think.