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cowofwar posted:Fake antiques is a huge industry that preys on idiots. https://www.restorationhardware.com/
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# ? Jan 19, 2018 22:24 |
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# ? May 14, 2024 04:12 |
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The massive salary drop guy is attention grabbing but it seems like he worked out a deal where he only works one day out of the week until the "cash issues" are resolved. Still terrible but not as bad as it seems at first
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# ? Jan 19, 2018 23:09 |
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Some real company loyalty, too. Or there's some red flags he's not telling us about which would make finding a different job difficult.
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# ? Jan 19, 2018 23:12 |
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Hopefully he's just inexperienced. It takes time for fresh grads to work through the Stockholm syndrome many seem to develop for the people who sign their checks. Before long, most people realize that said paychecks are compensation for labor/output, nothing more and nothing less
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# ? Jan 19, 2018 23:16 |
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That'll do Parm. That'll do.
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# ? Jan 19, 2018 23:38 |
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quote:For reasons that I’d prefer not to discuss, I need to make $2000 in 6 months. I'm going to go out on a limb and bet that he lives in a state that bans third-trimester abortions, and this may also be why his parents won't let him keep any money of his own. (Though maybe he's covered that in his "medical rut" part.) Sundae fucked around with this message at 00:44 on Jan 20, 2018 |
# ? Jan 20, 2018 00:41 |
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WSJ article about LuLawsuitsquote:In early 2016, Amy Jo Reece became a retailer for clothing company LuLaRoe, paying $6,900 for apparel to sell from her home in Culpeper, Va. Two years later, Ms. Reece says she is stuck with $14,000 worth of LuLaRoe inventory sitting in boxes in her basement. Even the folks at the top of the pyramid are catching on (Pam Webster's name gets touted by the company at conventions, she is one of the 0.0001% who actually got rich off LLR) And the ones on the bottom are eating each other
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# ? Jan 20, 2018 05:30 |
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So LuLaRoe is MLM and loot boxes?
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# ? Jan 20, 2018 05:47 |
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AreWeDrunkYet posted:So LuLaRoe is MLM and loot boxes? The $5000 starter package and the lootbox style drop rates would give Electronic Arts are a hard on.
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# ? Jan 20, 2018 06:54 |
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I like how that article's success story made 27k annually. Part time flexibility is one thing, but she was 40hr/wk.
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# ? Jan 20, 2018 08:58 |
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It's almost like these various affiliate retailing businesses are an end run around minimum wage laws and are completely unviable as profitable businesses if the company is required to compensate the sellers at minimum wage for all the time they spend selling product. Can you imagine a retail clothing or vitamin store where employees are required to front all the money for the inventory and then sell it all back to customers at a profit or just eat the cost?
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# ? Jan 20, 2018 14:21 |
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Kind of sounds like they were talking gross profit instead of net. So taxes, transportation, and selling expenses may not have been included. Amazing how unprofitable these MLM schemes are even for the upper echelon of sellers.
sparkmaster fucked around with this message at 21:14 on Jan 20, 2018 |
# ? Jan 20, 2018 14:51 |
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MLM earnings disclosure tables are always in gross before non-inventory expenses. When you look at all the sellers that make some piddling amount in commissions over a year, without any question there are huge numbers of them that lose money in shipping, vehicle, etc. expenses.
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# ? Jan 20, 2018 14:57 |
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I don't get why people think they're running a business, like the minimum I'd expect from running my own business would be that I get to choose what I sell through my business. These people are just salesmen on 100% commission with the added bonus of taking on all the risks for the stock they try to sell.
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# ? Jan 20, 2018 16:18 |
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Puseklepp posted:I don't get why people think they're running a business, like the minimum I'd expect from running my own business would be that I get to choose what I sell through my business. The same thing goes for franchises. Oh you want to open a restaurant, but have absolutely no control over the food you serve? Obviously those people are more businessmen than restaurateurs, but it seems weird to aspire to running an operation with tons of risk and no creative input.
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# ? Jan 20, 2018 16:25 |
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Krispy Wafer posted:The same thing goes for franchises. Oh you want to open a restaurant, but have absolutely no control over the food you serve? Obviously those people are more businessmen than restaurateurs, but it seems weird to aspire to running an operation with tons of risk and no creative input. I figure the appeal is that you benefit from the consistent product the franchise offers customers. People know what to expect at McDonald's/Subway/etc and so you don't have to build up customer loyalty because there's already an established demographic. I thought the worse downside of being a franchisee was that you have no control over corporate putting up another restaurant across the street from yours.
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# ? Jan 20, 2018 16:44 |
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Franchises have various exclusivity contracts and obviously given the history of fast food in the last 60 years a well operated franchise can be a good business model. One of the real problems with current franchise restaurant operations is that the market is becoming so saturated with chain fast food and fast casual restaurants that the only way to grow gross revenue (and thereby franchise fees) is to compete viciously on price, advertise unprofitable deals and promise the franchise owners that losing money on a $5 Subway foot-long will be recouped with drink and cookie sales. Whenever the economy next takes a significant downturn there is going to be a total loving apocalypse of franchise chain restaurants. It is a little crazy to me looking at suburban America how roads and commercial real estate are completely designed around the presence of dozens of chain restaurants per mile and what would happen if half of those went out of business all of a sudden.
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# ? Jan 20, 2018 17:12 |
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Plus the barrier to entry for a franchise like McDonald's is a lot higher. It's easier to swindle someone for $5000 than $50000.
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# ? Jan 20, 2018 17:14 |
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So for those that are interested, I just spoke to my former client that found out he was bitcoin rich today. He's still doing really really well, still cashing everything out in as big of chunks as he can, and doesn't care even in the slightest about the price dipping. I officially know a bitcoin millionaire now. So at least one exists.
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# ? Jan 20, 2018 18:26 |
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a dingus posted:Plus the barrier to entry for a franchise like McDonald's is a lot higher. It's easier to swindle someone for $5000 than $50000. Man, $50k is just the franchise fee. McDonalds won't sell you a franchise unless you have $1-2m ready to invest.
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# ? Jan 20, 2018 18:35 |
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Solice Kirsk posted:So for those that are interested, I just spoke to my former client that found out he was bitcoin rich today. He's still doing really really well, still cashing everything out in as big of chunks as he can, and doesn't care even in the slightest about the price dipping. I officially know a bitcoin millionaire now. So at least one exists. The best bitcoin story!
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# ? Jan 20, 2018 19:07 |
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Solice Kirsk posted:So for those that are interested, I just spoke to my former client that found out he was bitcoin rich today. He's still doing really really well, still cashing everything out in as big of chunks as he can, and doesn't care even in the slightest about the price dipping. I officially know a bitcoin millionaire now. So at least one exists.
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# ? Jan 20, 2018 19:26 |
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This thread is taking a turn away from schadenfreude towards happy, and I will not stand for it.
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# ? Jan 20, 2018 19:38 |
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Drunk Tomato posted:Is the BWM here that he is a lawyer only making 60k? I didn't even know that was possible. There's been a couple people who have had their loans forgiven already under PSLF, so it's looking hopeful if you're currently enrolled in IBR. If nothing changes from now until 2027, the shocker will be trading loan payments for a massive tax bill.
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# ? Jan 20, 2018 20:27 |
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https://www.reddit.com/r/personalfinance/comments/7rsag4/i_owe_3000_in_taxes_what_do_i_do/quote:I'm a college graduate (Dec 2016), Single, with two jobs and no student loans. I used Turbo tax to file since I got both my W2 forms and just wanted to see how much I owe. I claimed 10 allowances for both Federal and State for both my jobs. The second job started in September (so I didn't make much in 2017). I don't make much in general, only made about 37,000 with the combined salaries. I rent an apartment and live on my own with no dependents. I don't feel like the amount I owe is correct, is it because I claimed 10 allowances for the entire year? Are there payment options, because there is no way I can pay $3000+ in taxes by April. Also, does renting an apartment count as a tax break, this is the first time I'm living on my own. This is also the first time I am not in school but I still have the same part time job I had throughout college. I've always received a refund (even after claiming 10 allowances) while I was in school.
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# ? Jan 20, 2018 20:29 |
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Sirotan posted:There's been a couple people who have had their loans forgiven already under PSLF, so it's looking hopeful if you're currently enrolled in IBR. If nothing changes from now until 2027, the shocker will be trading loan payments for a massive tax bill. Well surely those people will plan ahead for that tax hit, right?
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# ? Jan 20, 2018 20:29 |
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JFC that 10 allowance guy. Did he seriously not realize that the reason he was still getting a tax refund in school was because he was getting a tax credit for his tuition?
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# ? Jan 20, 2018 20:32 |
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Moneyball posted:Well surely those people will plan ahead for that tax hit, right? Pslf is (currently) not a taxable event. Regular 20 year forgiveness is taxable. It could change, but hopefully won't because fygm
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# ? Jan 20, 2018 20:35 |
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More BossBabe math: In 2016: $86,000 divided by 60 times 20% commission = $286.67 per hun (not counting taxes and expenses) In 2017: $133,718.555 divided by 160 times 20% commission = $167.15 per hun (not counting taxes and expenses) Not exactly "awesome growth" This is representative of what happens on a larger scale when any pyramid scheme grows in size - the average earnings per person decreases but more money is funneled to the few at the very top. If you look at the income disclosures from just about every MLM the average earnings per distributor decreases the longer the company has been in existence.
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# ? Jan 20, 2018 20:39 |
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Photex posted:https://www.reddit.com/r/personalfinance/comments/7rsag4/i_owe_3000_in_taxes_what_do_i_do/ This...this right here is the best BWM high. Stupid enough to make me feel smugly superior, but not a soul crushing burden like 200k in student loans for a video game degree. 10 loving deductions. Deduct your apartment on your taxes.
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# ? Jan 20, 2018 21:04 |
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Man, I should have screenshotted the facebook status of a junior high friend who posted a video about how you don't have to pay taxes. He said that no taxation without representation (is that even part of our law? DC has no representation) means you can choose to represent yourself and tell the IRS you owe $0. TBF he probably doesn't make enough money for the IRS to bother coming after him, unless he and his girlfriend are still selling weed, get arrested, and that gets tacked on top.
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# ? Jan 20, 2018 21:17 |
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Boy howdy I'm glad its tax time again. Good content, right in the vein.
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# ? Jan 20, 2018 21:18 |
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Krispy Wafer posted:Deduct your apartment on your taxes. He might not be completely lost there. Indiana lets you deduct up to $3000 of rent, and a couple other states have small renter's credits under certain circumstances.
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# ? Jan 20, 2018 21:24 |
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Yond Cassius posted:He might not be completely lost there. Indiana lets you deduct up to $3000 of rent, and a couple other states have small renter's credits under certain circumstances. Some countries deduct rent from income taxation, if you think about it the US government policy of specifically sponsoring home ownership versus any other cost of living makes less sense IMO
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# ? Jan 20, 2018 21:27 |
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BEHOLD: MY CAPE posted:Some countries deduct rent from income taxation, if you think about it the US government policy of specifically sponsoring home ownership versus any other cost of living makes less sense IMO I mean, it makes a lot of sense if loving over poor people (most of whom are minorities) are your intended goals, and that's been the case for most of the 20th century in the USA. Of course, the crime and other social burdens that come with a deeply inequitable society are arguably BWM on a national scale, but US politics is pretty good at trying to explain that one away.
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# ? Jan 20, 2018 21:38 |
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Krispy Wafer posted:This...this right here is the best BWM high. Stupid enough to make me feel smugly superior, but not a soul crushing burden like 200k in student loans for a video game degree. Do they ever explain themselves on what they were?
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# ? Jan 20, 2018 23:36 |
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kimbo305 posted:Do they ever explain themselves on what they were? They're not deductions. They're allowances on his W-4 which means he barely had anything taken out of his paycheck. It's
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# ? Jan 21, 2018 00:11 |
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Yeah the comment's now hidden after being downvoted for sheer stupidity, but here:quote:Okay I see, I only paid about about $130 for Federal and $100 for State. FML, I just liked seeing a bigger check every month. Thanks! At least that's a mistake you only make once.
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# ? Jan 21, 2018 00:43 |
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A guy in Ask / Tell started a thread about working at a payday loan place. Hopefully he'll have some good stories! https://forums.somethingawful.com/showthread.php?threadid=3846875
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# ? Jan 21, 2018 00:51 |
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# ? May 14, 2024 04:12 |
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After 9 years together Bitcoin has cost me my marriage. (self.Bitcoin)https://www.reddit.com/r/Bitcoin/comments/7m15em/after_9_years_together_bitcoin_has_cost_me_my/ posted:I'm using a throwaway because I do post regularly to this and other subs and would prefer my situation not be linked. BEHOLD: MY CAPE posted:Some countries deduct rent from income taxation, if you think about it the US government policy of specifically sponsoring home ownership versus any other cost of living makes less sense IMO e: This "invested recklessly" tag is a tiny goldmine, goddamn. Don't repeat my mistakes. I had everything, now i am broke (self.Bitcoin) quote:After reading all these bitcoin success stories around here, i decided to share my story of failure, in order to protect people from the mistakes i made. I have no intend to ask for a help, but a bit of moral support will be very helpful. I am very ashamed of my ignorance, it's hard to admit it, but i will try. Haifisch fucked around with this message at 03:15 on Jan 21, 2018 |
# ? Jan 21, 2018 03:11 |