Troll Posted October 1, 2020 Report Share Posted October 1, 2020 11 hours ago, DarterBlue said: By paying her a salary and then separately paying her consulting fees, DJT bypassed paying FICA taxes on the consulting fees of 7.65%. Now, in theory, she should be declaring the consulting fees as income on her company's return. But this income would also bypass FICA taxes to the tune of 15.3% (If she were an independent contractor with a single member LLC or unincorporated she would treat this as income on a schedule C). However, since the funds flowed to a corporation, it would either be subject to Federal Taxes at the corporate rate (if a C corporation), the maximum of which is now 21% (it could be lower depending on the corporation's net income), or if an S Corporation, then her share of the net profit would flow through to her Federal return and she would pay taxes on it at her marginal tax rate. However, you cut it, the treatment resulted in the Federal Government getting stiffed of at least 15.3% and likely more since she would most likely have expenses deducted from this income on her Corporation's Federal Tax return. Don't tell me... I had to do some corporate consulting after 08', as during that 'jobs' recession, this was the route most corporations were taking... Funny how you 'missed' the cut off the top ...you know...what the consultants are charged to be 'a consultant' to make up for those gov shortfalls....(would have to check but I believe that was right around your 15% shortfall mark...been a while lol) This methodology was only a way in which corps figured out how to work the tax system, and the government just passed the costs on to the worker... Just an FYI... 🤷♂️ Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted October 1, 2020 Author Report Share Posted October 1, 2020 28 minutes ago, DBP66 said: and you'd think the Trump clowns may see something wrong with Donny deducting $76,000 on his taxes for his comb over??...naa...you guys are too busy drinking your Trump Kool-Aid to notice....🤡 Funny u didn’t say shit when Obama used our Tax money to personally Fly in his personal barber every single two weeks 1 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted October 1, 2020 Report Share Posted October 1, 2020 1 minute ago, imaGoodBoyNow said: Funny u didn’t say shit when Obama used our Tax money to personally Fly in his personal barber every single two weeks how do you know he used tax dollars??...you don't have a clue...did he try and deduct money on his taxes for his hair care like Trump's $76,000??..NO...you're ok with Trump making that deduction...no problem with that??....😞 Quote Link to comment Share on other sites More sharing options...
Troll Posted October 1, 2020 Report Share Posted October 1, 2020 50 minutes ago, DBP66 said: and you'd think the Trump clowns may see something wrong with Donny deducting $76,000 on his taxes for his comb over??...naa...you guys are too busy drinking your Trump Kool-Aid to notice....🤡 If that's what he actually paid, there is absolutely nothing wrong with it...if not there is a problem. I'm sure you spend your money on some stupid shit too...how much was that new fishing reel ? (you might want to return that reel....seems to do a pretty shiity 🤡 job...😝) PS: You are in luck....I heard 🤡 hookers can write off their condoms too 😝 BTW: Just curious....how much did Biddy pay for his "magically re-appearing head hair".... That shit gotta be expensive as all 🤡 hell.... hair magic always is 🤣 🤡 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted October 1, 2020 Report Share Posted October 1, 2020 1 hour ago, Troll said: Don't tell me... I had to do some corporate consulting after 08', as during that 'jobs' recession, this was the route most corporations were taking... Funny how you 'missed' the cut off the top ...you know...what the consultants are charged to be 'a consultant' to make up for those gov shortfalls....(would have to check but I believe that was right around your 15% shortfall mark...been a while lol) This methodology was only a way in which corps figured out how to work the tax system, and the government just passed the costs on to the worker... Just an FYI... 🤷♂️ You pay 15.3% if you are unincorporated. But the 15.3% in after deducting expenses against the income earned. But if you have a company that's not a single member LLC, then you escape that tax altogether. In that case you only pay Federal on the net. Also, under IRS regulations, it is not really possible to earn both W-2 wages and consulting (1099) fees concurrently. That is because you are either one or the other (employee or consultant) at a given point in time based on the nature of your relationship with the person/entity you earn the compensation from. To be a bona fide consultant, you need to have a certain "independence" from the entity from which you earn the consulting fees in terms of how you carry out the work performed. What this means is that provided you perform the task for which you were engaged, you are able to do it on your terms (not subject to a fixed time routine, not necessarily required to do it on a fixed work schedule, able to have other projects going on concurrently, able to have others do some or part of the work under your direction, etc.). If this does not apply, the IRS has the right to recharacterize the work as employment and not consulting and to demand its FICA taxes in full (15.3%) from the employer (contractor). Of course, this would also be subject to penalties and interest. The bottom line is: Concurrently you are either one or the other. Now that does not preclude you from starting off as a consultant (1099 guy), and then after a period of time being converted to W-2 status. However, for this to occur the nature of your engagement must change. if Ivanka did, indeed, earn consulting fees while also being on the payroll, then the Trump organization essentially cheated the IRS out of 15.3% of FICA taxes during that period. 1 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted October 1, 2020 Report Share Posted October 1, 2020 2 hours ago, Troll said: If that's what he actually paid, there is absolutely nothing wrong with it...if not there is a problem. I'm sure you spend your money on some stupid shit too...how much was that new fishing reel ? (you might want to return that reel....seems to do a pretty shiity 🤡 job...😝) PS: You are in luck....I heard 🤡 hookers can write off their condoms too 😝 BTW: Just curious....how much did Biddy pay for his "magically re-appearing head hair".... That shit gotta be expensive as all 🤡 hell.... hair magic always is 🤣 🤡 "If that's what he actually paid, there is absolutely nothing wrong with it"....you think he paid anyone to do his hair??...according to Anthony Scarmunci he doesn't let anyone touch his hair...but if he did you think his hair is worth $76,000 year??....come on man!....😉 1 Quote Link to comment Share on other sites More sharing options...
Troll Posted October 1, 2020 Report Share Posted October 1, 2020 3 hours ago, DarterBlue said: You pay 15.3% if you are unincorporated. But the 15.3% in after deducting expenses against the income earned. But if you have a company that's not a single member LLC, then you escape that tax altogether. In that case you only pay Federal on the net. Also, under IRS regulations, it is not really possible to earn both W-2 wages and consulting (1099) fees concurrently. That is because you are either one or the other (employee or consultant) at a given point in time based on the nature of your relationship with the person/entity you earn the compensation from. To be a bona fide consultant, you need to have a certain "independence" from the entity from which you earn the consulting fees in terms of how you carry out the work performed. What this means is that provided you perform the task for which you were engaged, you are able to do it on your terms (not subject to a fixed time routine, not necessarily required to do it on a fixed work schedule, able to have other projects going on concurrently, able to have others do some or part of the work under your direction, etc.). If this does not apply, the IRS has the right to recharacterize the work as employment and not consulting and to demand its FICA taxes in full (15.3%) from the employer (contractor). Of course, this would also be subject to penalties and interest. The bottom line is: Concurrently you are either one or the other. Now that does not preclude you from starting off as a consultant (1099 guy), and then after a period of time being converted to W-2 status. However, for this to occur the nature of your engagement must change. if Ivanka did, indeed, earn consulting fees while also being on the payroll, then the Trump organization essentially cheated the IRS out of 15.3% of FICA taxes during that period. again... you don't have to tell me... and certainly any "concurrency" is at issue (never indicated otherwise). PS: you can read all the statutes you like, but when corps have control of how they hire, you might just have to be that 1099 guy...and eat the passed on taxing, or you won't get the work....oh and btw, the bonus plan is you get to pay a pimp friend of the company "recruiter" a cut off the top, to boot...🥾 You can contemplate all day on how much smarter you think you are than the IRS, but at the end of the day, if they don't have any issue with it, you should not either...🤷♂️ 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted October 1, 2020 Report Share Posted October 1, 2020 Clueless’ former FBI Director James Comey admits the agency’s Trump-Russia probe was a ball of bungled confusion https://www.rt.com/usa/502248-fbi-james-comey-trump-russia/ 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted October 1, 2020 Report Share Posted October 1, 2020 9 minutes ago, Troll said: again... you don't have to tell me... and certainly any "concurrency" is at issue (never indicated otherwise). PS: you can read all the statutes you like, but when corps have control of how they hire, you might just have to be that 1099 guy...and eat the passed on taxing, or you won't get the work....oh and btw, the bonus plan is you get to pay a pimp friend of the company "recruiter" a cut off the top, to boot...🥾 You can contemplate all day on how much smarter you think you are than the IRS, but at the end of the day, if they don't have any issue with it, you should not either...🤷♂️ That all comes down to a time and resources issue. BTW, you just supported my point, inadvertently, I am sure, as to why I am no fan of unregulated capitalism. 1 Quote Link to comment Share on other sites More sharing options...
Troll Posted October 1, 2020 Report Share Posted October 1, 2020 4 minutes ago, DarterBlue said: That all comes down to a time and resources issue. BTW, you just supported my point, inadvertently, I am sure, as to why I am no fan of unregulated capitalism. why would I mind supporting any point of yours, if I felt it was the truth ? I don't take such things so personally... Thought you already knew that 🤷♂️ and BTW: Almost any ruling methodology is a recipe for disaster, if left unbridled 🤷♂️ 2 Quote Link to comment Share on other sites More sharing options...
Troll Posted October 1, 2020 Report Share Posted October 1, 2020 2 hours ago, DBP66 said: ...according to Anthony Scarmunci ... Listen to your clown 🤡 ass now .... 🤣 1 Quote Link to comment Share on other sites More sharing options...
AztecPadre Posted October 1, 2020 Report Share Posted October 1, 2020 17 hours ago, DarterBlue said: It is not just the debt which is bad, but the infrastructure is falling apart, too. I am not blaming DJT specifically for this as there has been neglect of this for over 20 years and counting. Without adequate infrastructure, we will end up being little more than a third world country with a nuclear arsenal. There is also our educational system which has systematically failed to produce enough engineers and scientists to the point where we end up importing them in mass. Now I am not going to cut off my nose here as an immigrant myself, but there are real costs to doing this. If you read my posts, I am seriously thinking of leaving. Now if I were born here, the thought of doing so, would be much less for the following reasons: 1. I would feel culturally committed to the USA since it was my birthplace. 2. I would see foreign options through a different lens since I was born here. When you are obligated to import large segments of your workforce, particularly in sensitive positions, a country runs the risk of not having a sufficiently loyal and committed workforce, not because these individuals are scum or traitors, but because they were acculturated outside the USA and don't necessarily have the commitment to it that native born individuals would. By all means import some talent, that is a good thing, as you will get new perspectives and ideas. However, being compelled to have to import it on mass due to deficiencies in your own educational system is not a recipe for long term success. These issues, in addition to the debt problem, is currently helping to mire the country's economy and will lead to its downfall if not addressed. The private sector in a dynamic capitalist economy is very good at innovation. However, there are many functions that they do not do effectively because they require collective effort that only the government can provide. The failure of so many Americans to realize this and willingly pay Income Taxes is destressing. I suspect it is because they have never lived in the third world and don't know what it's like to have a resource starved, dysfunctional government. Well they may well be exposed to one sooner than they think if we keep on going down the road we have embarked on. This is something I see first hand. if you are not Asian or from India, you are the minority at these large tech companies. Work visas are a hot commodity in India and China. 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted October 1, 2020 Report Share Posted October 1, 2020 13 minutes ago, AztecPadre said: This is something I see first hand. if you are not Asian or from India, you are the minority at these large tech companies. Work visas are a hot commodity in India and China. IT is sad. I have no problem with bringing some immigrants in to do this work. But when the educational system here does not produce them in any numbers, that is a huge problem. 1 Quote Link to comment Share on other sites More sharing options...
Troll Posted October 1, 2020 Report Share Posted October 1, 2020 1 hour ago, DarterBlue said: IT is sad. I have no problem with bringing some immigrants in to do this work. But when the educational system here does not produce them in any numbers, that is a huge problem. you may need to brush up on your IT field knowledge... Plenty of bodies in the field.. not saying all are the absolute 'best' LOL, because a whole bunch of people not really designed for the 'field', all jumped in on the supposed 'gravy train' when the salaries jumped a couple decades ago......add in all the corporate crossover 'power users' and it was never about finding a body.... it has always been about finding the body with the "very specific" technical knowledge needed......mostly due to the fact that one of the biggest issues in IT is proprietism ....(but that's another novel in itself 🙄) The abuse of the HB visa system is almost entirely due to salary cost and the savings you mentioned prior in not carrying full time employees... Education system is just the tail end of the dog..... just sayin' 🤷♂️ 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted October 1, 2020 Report Share Posted October 1, 2020 3 minutes ago, Troll said: You may be a good stock analyst, but you may need to brush up on your IT field knowledge... Plenty of bodies in the field.. not saying all are the absolute 'best' LOL, because a whole bunch of people not really designed for the 'field', all jumped in on the supposed 'gravy train' when the salaries jumped a couple decades ago......add in all the corporate crossover 'power users' and it was never about finding a body.... it has always been about finding the body with the "very specific" technical knowledge needed......mostly due to the fact that one of the biggest issues in IT is proprietism ....(but that's another novel in itself 🙄) The abuse of the HB visa system is almost entirely due to salary cost and the savings you mentioned prior in not carrying full time employees... Education system is just the tail end of the dog..... just sayin' 🤷♂️ Not my area of expertise. However, back in the early to mid 1980s when I was in grad school I did notice one very disturbing trend. Almost all of the doctoral students at my institution were foreigners. And in the engineering department, almost all of the graduate students there were foreigners (regardless of whether they were in the doctoral program or just doing a masters). When my two sons were in high school back in the early to mid part of the first decade of the 2000s, they both did BC calculus in addition to AB. I remember that at their high school (considered above the mid tier of the county), only a handful of students took AP BC calculus despite the fact that at the time, the school had a really great teacher with years of experience. So, I drew the conclusion from these experiences that the USA was probably not producing the numbers or quantities of individuals it needed. But I get what you are saying. Certainly cheap cost would be a big factor in corporate hiring decisions. Quote Link to comment Share on other sites More sharing options...
Troll Posted October 1, 2020 Report Share Posted October 1, 2020 4 hours ago, DarterBlue said: Not my area of expertise. However, back in the early to mid 1980s when I was in grad school I did notice one very disturbing trend. Almost all of the doctoral students at my institution were foreigners. And in the engineering department, almost all of the graduate students there were foreigners (regardless of whether they were in the doctoral program or just doing a masters). When my two sons were in high school back in the early to mid part of the first decade of the 2000s, they both did BC calculus in addition to AB. I remember that at their high school (considered above the mid tier of the county), only a handful of students took AP BC calculus despite the fact that at the time, the school had a really great teacher with years of experience. So, I drew the conclusion from these experiences that the USA was probably not producing the numbers or quantities of individuals it needed. But I get what you are saying. Certainly cheap cost would be a big factor in corporate hiring decisions. just a couple thoughts.... foreign/domestic student ratios may also have something to do with the costs involved (and ability to pay).... Calc was shied away from when all the high schools started "teaching to the test" as the SAT's are really algebra 2 with some geometry and trig (Having 2 1/2 years of calc in HS probably lowered my SAT's as a senior, as everything on the test I hadn't seen since like freshman year 🙄) I believe most of that has been recovered tho now (at least around here) as my children have been loaded with AP courses in all subjects in HS, as colleges have gotten much smarter about acceptance or much more selective on course load etc. not just standard testing etc. ......at least the better colleges... 🤷♂️ Quote Link to comment Share on other sites More sharing options...
Troll Posted October 2, 2020 Report Share Posted October 2, 2020 , Quote Link to comment Share on other sites More sharing options...
DBP66 Posted October 2, 2020 Report Share Posted October 2, 2020 20 hours ago, Troll said: Listen to your clown 🤡 ass now .... 🤣 and you say all is good with the $76,000 comb over deduction?..LOL...brilliant Ronnie!....🙄 Quote Link to comment Share on other sites More sharing options...
Troll Posted October 2, 2020 Report Share Posted October 2, 2020 2 minutes ago, DBP66 said: and you say all is good with the $76,000 comb over deduction?..LOL...brilliant Ronnie!....🙄 again if that's what he paid .... you having a hard time with all the jealousy? you know... of someone being able to provide EXPENSiVE care for their golden locks While your tangled mess of 🤡 head hair smells like fish 🐟? PS: And here I thought all you Sampson clowns would at least provide a united front when it comes to hair... 🤷♂️ 🤡 1 1 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted October 2, 2020 Report Share Posted October 2, 2020 4 minutes ago, Troll said: again if that's what he paid .... you having a hard time with all the jealousy? you know... of someone being able to provide EXPENSiVE care for their golden locks While your tangled mess of 🤡 head hair smells like fish 🐟? PS: And here I thought all you Sampson clowns would at least provide a united front when it comes to hair... 🤷♂️ 🤡 what a true clown you are...."if that's what he paid"...LOL...it's still no deductible you clown...has Trump EVER done anything wrong in his life Ronnie??....🙄 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted October 2, 2020 Report Share Posted October 2, 2020 1 hour ago, DBP66 said: what a true clown you are...."if that's what he paid"...LOL...it's still no deductible you clown...has Trump EVER done anything wrong in his life Ronnie??....🙄 Krusty being a Karen again! Upset he has to use sheers from the barn to cut his curly girly locks😂 1 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted October 2, 2020 Report Share Posted October 2, 2020 14 minutes ago, I AM IRONMAN said: Krusty being a Karen again! Upset he has to use sheers from the barn to cut his curly girly locks😂 and what does a clown like you think of someone deducting money on HIS taxes to have HIS hair done...that's cool?..you got no problem with that??.....anything to keep the comb over looking good??....is there anything Trump has ever done wrong in his life mam??...😒 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted October 2, 2020 Report Share Posted October 2, 2020 14 minutes ago, DBP66 said: and what does a clown like you think of someone deducting money on HIS taxes to have HIS hair done...that's cool?..you got no problem with that??.....anything to keep the comb over looking good??....is there anything Trump has ever done wrong in his life mam??...😒 How do you feel about $150B to a regime that chants Death to America? Oh and a pinky promise not to use it for WMD. IDIOT! 1 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted October 2, 2020 Report Share Posted October 2, 2020 33 minutes ago, I AM IRONMAN said: How do you feel about $150B to a regime that chants Death to America? Oh and a pinky promise not to use it for WMD. IDIOT! how many times are you going to say the same stupid thing ^^....who's money was it mam??..do you know??...stop being dumb..🙄 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted October 2, 2020 Report Share Posted October 2, 2020 48 minutes ago, DBP66 said: how many times are you going to say the same stupid thing ^^....who's money was it mam??..do you know??...stop being dumb..🙄 You are too ignorant to deal with..I'll go back to making fun of you Karen 🍕 Quote Link to comment Share on other sites More sharing options...
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