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Inept posted:"Professional" gaming and streaming aspirations are going to gently caress up a generation of nerds Who becomes an engineer for "recognition and respect in my field?" Isn't 99% of engineering just "get your small behind the scenes part of this job done so this project comes in on budget/time/spec" and be reasonably well compensated in return?
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Feb 2, 2018 16:58
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I’m glad professional streamers and pro gamers making a living underneath the Thr3sh / Fatal1ty level weren’t a thing when I was a kid. I wanted to be a pro gamer in my early teens, and then I quickly realized I just wasn’t good enough. If so many people were making a living when I was that age I probably wouldn’t have given up.
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Feb 2, 2018 17:12
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Yond Cassius posted:Gary Larson was their prophet. That was literally my first thought.
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Feb 2, 2018 17:13
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The higher your income, the significantly higher the cost of raising a child to 18. Having money and kids is bwm Being low income and having kids is gwm
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Feb 2, 2018 17:22
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Elysium posted:Who becomes an engineer for "recognition and respect in my field?" Isn't 99% of engineering just "get your small behind the scenes part of this job done so this project comes in on budget/time/spec" and be reasonably well compensated in return? Despite that being the reality, it's not unreasonable to want to be excellent at what you do. Discovering a new technique or skill in an engineering profession is gratifying in its own right, even if you don't get directly monetarily compensated for it. 5 years ago I co-developed a particular computing pattern that in my preferred weird language gets referred to and replicated repeatedly to this day. When people cite my work as an influence and recommend to use that particular tool, it's gratifying, even if my day job doesn't even use that particular tool.
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Feb 2, 2018 17:28
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GoGoGadgetChris posted:The higher your income, the significantly higher the cost of raising a child to 18. Fully agreed. Birth without Medicaid costs anywhere from $3k-10k out of pocket, birth with Medicaid is free. Is it any wonder that the majority of births are covered by Medicaid now? http://www.slate.com/blogs/xx_factor/2013/09/12/half_of_american_births_are_covered_by_medicaid_guess_who_s_to_blame.html
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Feb 2, 2018 17:35
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Twerk from Home posted:Fully agreed. Birth without Medicaid costs anywhere from $3k-10k out of pocket, birth with Medicaid is free. Is it any wonder that the majority of births are covered by Medicaid now? http://www.slate.com/blogs/xx_factor/2013/09/12/half_of_american_births_are_covered_by_medicaid_guess_who_s_to_blame.html
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Feb 2, 2018 17:42
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PraxxisParadoX posted:fwiw at this point it looks like he has 200k Youtube subscribers and about 70k Twitch followers (not subscribers, mind you), which might be enough for a reasonable life in Minnesota Good for him. He’s 25. That corporate job is still going to be there in a couple years if this doesn’t work. And if he were to go into tech consulting or something after this the skills he’s learning by presenting to that large an audience are going to be super transferable.
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Feb 2, 2018 17:48
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BWM becoming a YouTube streamer. GWM using a free Reddit platform to market you channels with a story that resonates with your core audience growing your subscriber base. If this guy is actually an EE he’d be able to go back to a real job whenever he wants.
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Feb 2, 2018 17:53
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Elysium posted:Who becomes an engineer for "recognition and respect in my field?" Isn't 99% of engineering just "get your small behind the scenes part of this job done so this project comes in on budget/time/spec" and be reasonably well compensated in return? Honestly 99% of engineering is making PowerPoints explaining to corporate/finance/legal/marketing why THIS is the way we need to do something And then going back and redoing it because engineers aren’t great at explaining things to non-engineers and the audience decides to add dumb requirements to prove they’re smart and worth their salaries (and also because they’re needed, but don’t tell engineers that  )That 1% designing and building things is really cool though
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Feb 2, 2018 17:59
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There's some insane harebrained scheme happening in my extended family that's almost certainly going to end up being bad with money, and possibly criminal. Long story short, a relative of mine had his family business he co-owns equally with 3 other brothers actually amount to something. They've got a couple of patents and ongoing government contracts. Gossip is that they've found a buyer in the $2mil-$5mil range, so he has a windfall coming to him. Problem is, the guy has significant personal debt and has been trapped in a marriage he hates for years. To get around this, a new company was incorporated that was owned only by his 3 brothers without him having any stake at all, all assets transferred to the new company, and the original company entirely dissolved... about 6 months ago. They have a gentleman's agreement with no paper trail that he will be able to buy back in his original 1/4 stake in the company for $1 at any point in the future, or just get paid out what he was owed from them in the future if the company is sold before then. Last week he served his wife with really aggressive divorce papers from an MRA-focused divorce law firm, and he's been blabbing around to the family that he plans to declare bankruptcy after the divorce because other than the company, he's got basically no assets, so his wife will get absolutely nothing. This is in a community property state that almost never does alimony in any cases. Anyway, I'm looking on from the distance and just hoping that everybody involved avoids prison. It seems like there's no way that divorce / bankruptcy law will let you hide ownership interest in a company like that, but I have no idea by what mechanism they could prove that he has any stake in the new company because the old company is entirely dead and gone.
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Feb 2, 2018 18:02
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That sounds BWL but potentially GWM. MRA have specialty law firms now?
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Feb 2, 2018 18:12
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The whole MRA movement grew out of "Dads' Rights" and men feeling screwed by family courts and divorce proceedings, so I daresay MRA law firms came before MRA-anything-else.
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Feb 2, 2018 18:46
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I see and hear ads for man-focused divorce attorneys all the time.
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Feb 2, 2018 18:48
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hailthefish posted:The whole MRA movement grew out of "Dads' Rights" and men feeling screwed by family courts and divorce proceedings, so I daresay MRA law firms came before MRA-anything-else. Are you saying MRAs didn't exist pre 70's when attorney advertisement was not allowed?
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Feb 2, 2018 18:50
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Submarine Sandpaper posted:Are you saying MRAs didn't exist pre 70's when attorney advertisement was not allowed? reactionary movement has to react to a thing reactionary movement didn't exist before the original movement it's reacting to won any significant victories, yes
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Feb 2, 2018 18:53
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EAT FASTER!!!!!! posted:That sounds BWL but potentially GWM. Probably in the same vein that sovereign citizens, religious fundamentalists and a lot of other groups have lawyers sympathetic to their cause and/or as members of the movement.
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Feb 2, 2018 18:56
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Twerk from Home posted:There's some insane harebrained scheme happening in my extended family that's almost certainly going to end up being bad with money, and possibly criminal. spoiler alert: even if he does get through the divorce without owing anything he'll get hosed as soon as he's let back on board the money train
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Feb 2, 2018 18:57
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Twerk from Home posted:There's some insane harebrained scheme happening in my extended family that's almost certainly going to end up being bad with money, and possibly criminal. Either the ex wife's attorney, bankruptcy court, or the IRS gonna gently caress this guy over I predict.
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Feb 2, 2018 18:58
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Dwight Eisenhower posted:spoiler alert: even if he does get through the divorce without owing anything he'll get hosed as soon as he's let back on board the money train How, though? In a state that doesn't do alimony they can't really reach into nebulous future income.
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Feb 2, 2018 18:59
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Twerk from Home posted:How, though? In a state that doesn't do alimony they can't really reach into nebulous future income. "Intent to defraud" tie-in maybe? I am not even close to a lawyer so take that with a few tons of salt
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Feb 2, 2018 19:01
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Wouldn't his stake in that business actually be 1/8 since the wife would be getting half?yet he's doing this sketchy poo poo that's gonna raise some red flags with his lenders and the IRS. It sounds greedy and selfish. If the marriage was so bad then just give her what the law says she is entitled to and chalk it up to the cost of getting out of an unhappy marriage. Plus, since all of this was some gentleman's agreement what's stopping his siblings from shafting him?
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Feb 2, 2018 19:05
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Panfilo posted:Wouldn't his stake in that business actually be 1/8 since the wife would be getting half?yet he's doing this sketchy poo poo that's gonna raise some red flags with his lenders and the IRS. It sounds greedy and selfish. If the marriage was so bad then just give her what the law says she is entitled to and chalk it up to the cost of getting out of an unhappy marriage. Yes, his 1/4 stake in the original, entirely defunct, formally dissolved business would become 1/8 for him and 1/8 for ex. However, the new business now has all of the IP, assets, and connections, and he has no ownership stake.
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Feb 2, 2018 19:06
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The most hilarious outcome would be his family loving him over and hitting him with a "LOL NO" when he comes back for the cash.
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Feb 2, 2018 19:12
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EAT FASTER!!!!!! posted:That sounds BWL but potentially GWM. Not surprising. I know there are family lawyers that have a strong MRA bent to them.
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Feb 2, 2018 19:15
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EAT FASTER!!!!!! posted:The most hilarious outcome would be his family loving him over and hitting him with a "LOL NO" when he comes back for the cash. No, the most hilarious would be if they told him that his ex-wife had exercised her community property right to buy into the company for $1.
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Feb 2, 2018 19:18
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IANAL Dude has no assets other than his stake in this company, so he can't sit out over the long haul bumming around post-divorce. So either: - Divorce court looks at circumstances of dissolution and where the assets are now, looks at ownership of the new company, says this is fairly obvious asset hiding and awards the wife 1/8th the liquidating value of the new company regardless of his present ownership interest. He owes that poo poo and immediately becomes ineligible for chapter 7 bankruptcy. Chapter 13 is only for people with a steady income and involves repaying the debtors, so wife's paid even if he successfully files chapter 13. - Dude gets through divorce with his scheme working. Brothers freeze him out. - Dude gets through divorce with his scheme working. Brothers let him back in for $1. After this much spite he will absolutely rub his victory in his wife's face. Wife's divorce attorney subpoenas his poo poo, carry on from first outcome as appropriate.
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Feb 2, 2018 19:24
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Unless the family has already completely frozen his wife out, she must know that the company is doing ok. Even if they have bragged about their patents or something at thanksgiving, she presumably knows that it isn't bankrupt and collapsing. So when they get to divorce and he smugly says 'Oh the company is dead it's been dead for six months' isn't she just going to say 'Hey wait, what happened, your brothers haven't said a word about that on facebook, no one is struggling to find a new job, your family venture just died and no one said anything and by the way, where have you been working for the last six months?' And then with the slightest scrutiny the whole thing unravels, and I am pretty sure judges do not appreciate people trying to be smart with the process. He's going to end up like that dude that was jailed for contempt for ten years because he had tried to be so smart with his money everyone was convinced he still had more somewhere.
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Feb 2, 2018 19:38
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I can say from some experience that a business in the $2-5m range can be very difficult to sell - especially if you want all of the cash up front. There is a very good chance that the business isn't worth nearly what he thinks it is. Any money he thinks he is going to save will be eaten up with lawyers fees and back taxes. The best thing you could do for both of them is to totally rat him out to ex because that will probably stop the thing much sooner.
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Feb 2, 2018 20:52
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IANAL, but I would think a less blatantly obvious scam would be: Brothers collectively pay soon to be divorced husband $40k, or something like that, not too big, but not stupidly small, as a buyout from the original company. Husband gets divorce, agrees to give wife half, so $20k. Husband buys back in at $40k, and just sucks up that he is losing $20k with the divorce. It would be undervaluing the worth of the company by a lot, considering he might be getting a $500k-$1.25 million buyout in the future, but at least it's not super obvious what they are trying to pull, and you can at least more easily argue that $40k is what they thought his share was worth at the time. $40k could be whatever number though, just picking a number.
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Feb 2, 2018 20:52
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22 Eargesplitten posted:No, the most hilarious would be if they told him that his ex-wife had exercised her community property right to buy into the company for $1. That can't happen if nothing is in writing. I don't know if any laws have been broken yet, but I'm sure they will be once he declares he has no other interests in other businesses during the divorce. Also, I don't know how it would work to buy into the company for $1 when it comes to taxes. Depending on how the new company is structured they may have a whole lot of problems for doing that.
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Feb 2, 2018 20:54
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“Found a buyer in the $2M-$5M range” is an odd thing too. That’s a big range to be in play if there’s a buyer at the table.
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Feb 2, 2018 21:03
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I am sure there is a way to actually pull this off, but the sort of lawyer(s) you'd need to do this would probably want more than the entire value of his assets. I would do my best to get a valuation of the business that is as low as possible but actually plausible. You then pay off your ex her half of the assets based upon a bogus low number. You then turn around and sell off the business for the larger amount and end up walking away with a larger chunk of $$. All of that transferring assets for no money and buying into a business for $1 don't work with the IRS. You can't just arbitrarily make up values for things because the IRS wants to get paid. I'd guess there are lookback periods for all of this poo poo, so he'd probably have to hold off on selling the business until years down the road when who knows what will happen to the value of the business.
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Feb 2, 2018 21:14
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Tax law loves it when you gently caress around with the valuation of a company.
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Feb 2, 2018 21:15
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If you set the valuation of the company at $2.5m - split between 3 people, it's hardly FU I'm retiring forever money. It's probably easiest to gently caress over the ex-wife not selling the business. poo poo like company vehicles and 'business trips' is probably easier than doing some business selling shell game that will 100% not work. The best way to keep as much money as possible is to keep lawyers out of it as much as possible. It doesn't take long to burn through a pile of money at $300 an hour. I thought this was a moderately interesting read about the subject: https://www.rosen.com/property/particles/dividing-business-valuation/
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Feb 2, 2018 21:29
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GoGoGadgetChris posted:The higher your income, the significantly higher the cost of raising a child to 18. Have high income, pretend to be poor IMO.
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Feb 2, 2018 22:48
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So the Dow Jones took a dump, dropped 665 points. S&P 500 dropped 59. Getting spooked and fireselling your 401k balance on Monday: BWM.
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Feb 2, 2018 22:53
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This response is great: quote:[–]Silver-Monk_Shu 1 point 2 days ago ("Them" is the IRS. It's a further response to someone telling them that actively hiding your crypto money from the IRS is tax fraud, which is not something they should be telling the OP to commit.)
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Feb 2, 2018 22:55
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Taxation is MTGOXing.
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Feb 2, 2018 23:00
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Panfilo posted:Either the ex wife's attorney, bankruptcy court, or the IRS gonna gently caress this guy over I predict. Why not all 3?
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Feb 2, 2018 23:03
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