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Shadowgate
May 6, 2007

Soiled Meat
It's art so it's worth whatever someone will pay for it.

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Shats Basoon
Jun 13, 2013

quote:

OK, we finally got the insurance check from my mother-in-law's life insurance policy last week. This week, MIL's sister comes out and says she lent money to her, and would like it back. Nothing in writing, nobody knew anything about it. I told m'lady that I wouldn't pay it if it were me, but of course that will make family gatherings at Christmas/Thanksgiving/etc. a little awkward. Realistically, it would prolly mean we wouldn't be doing anything with my wife's side of the family anymore if we didn't give it to her.

Personally, if I lend money to someone who has a terminal illness, I'm getting something in writing, or I expect to not be repaid. The estate has nothing except personal belongings & her house, which is financed to the hilt. Prolly literally zero equity in the house.

So what say you?

From another message board. Guy's MIL dies and his wife gets a life insurance payout. He said the MIL was asking for 5% his total payout for the money she 'lent' and adds later that she also wanted 5% from his wife's sister. Can't decide if it's GWM or BWM to pay the extortion and make her go away

Shame Boy
Mar 2, 2010

It looks like if you were to smash it the souls of the cursed dead would come out and drag you to hell :ohdear:

Krispy Wafer
Jul 26, 2002

I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat

Grimey Drawer

Shats Basoon posted:

From another message board. Guy's MIL dies and his wife gets a life insurance payout. He said the MIL was asking for 5% his total payout for the money she 'lent' and adds later that she also wanted 5% from his wife's sister. Can't decide if it's GWM or BWM to pay the extortion and make her go away

Probably BWM. Sure it might make family gatherings odd, but honestly how often do they think they're going to see the aunt unless the grandparents are still alive.

Maybe my family is weird, but we gathered around the grandparents when they were alive and then around where-ever our parents were. Once my mom is gone, I'm doing my own poo poo for Thanksgiving.

Plus they can just lie and say there's no estate left. Burying is expensive.

Sepherothic
Feb 8, 2003

BWM : Peachy Printer

http://hackaday.com/2016/05/11/peachy-printer-collapses-investor-built-a-house-instead-of-a-printer/

Why deliver on a kickstarter when you can embezzle the funds and build a house instead?

in a well actually
Jan 26, 2011

dude, you gotta end it on the rhyme

Sepherothic posted:

BWM : Peachy Printer

http://hackaday.com/2016/05/11/peachy-printer-collapses-investor-built-a-house-instead-of-a-printer/

Why deliver on a kickstarter when you can embezzle the funds and build a house instead?

The FTC's going to have a good time with them.

https://www.washingtonpost.com/news...on-kickstarter/

Cockmaster
Feb 24, 2002

PCjr sidecar posted:

The FTC's going to have a good time with them.

https://www.washingtonpost.com/news...on-kickstarter/

Actually, they're in Canada.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

Cockmaster posted:

Actually, they're in Canada.

They did business in the US via Kickstarter, the FTC could decide it wanted a piece.

CannonFodder
Jan 26, 2001

Passion’s Wrench

pig slut lisa posted:

Local horse person makes good
She's the person taking money from the horse owners, so GWM on her part getting to have fun with horses on someone else's dwindling pile of money.

Crabby Abby
Apr 26, 2006

I'm the graph in the OP
Bad with money from Quora: What salary do I need to buy a Tesla Model S

I can't imagine taking on this amount and variety of debt for anything less than medical treatment for a life threatening illness. Then again, I have been smitten with the Jaguar F Type since it came out. Now I know that I can afford one if I just stop paying my taxes, take a cash advance at 24% interest, stop paying my credit cards, and stop saving for retirement!

Quora guy posted:

What is a doable salary? In my case, I got my 2012 model S when I was somewhat fresh out of college with a salary of just above $100k. I had $30k saved up. The car + options I wanted (tech package, P85, etc...) would cost around $102k. The banks would only lend me up to $30k. I had about 4 months to come up with the money.

So I:

Had a base of 30
Borrowed 30 (@ 4% or so)
Took out a personal line of credit for 10 (@ 11% or so)
Opened a new credit card line (10) and eventually did a cash advance (@ 24%)
Made 1/3 of my annual post-tax salary, of which I could keep everything after expenses. Let's say it was around ~10
Turned off tax withholding** by claiming 20+ (an ungodly number) allowances on my W-4. This gave me another ~5.
Stopped contributing to my 401k. This was another ~3
Borrowed ~4.5 from my dad (@ 0%)
Stopped paying my other credit cards for a virtual loan.
Ensured that I would have cashflows after the purchase to cover interest until I could pay down the debt.
And voila!

Please tell me this isn't real.

Sepherothic
Feb 8, 2003

When I bought my barbie powerwheels, I also commited tax fraud to pay for it.

Worth it.

WampaLord
Jan 14, 2010

Crabby Abby posted:

Please tell me this isn't real.

You left off the best part, what the ** next to "Turn off tax withholding" refers to:

quote:

** I did the Math ahead of time and my 2012 taxes would come out to basically $0 assuming I didn't do anything else crazy.

How many deductions would you have to make to get a 100k job into a $0 tax bill?

Moneyball
Jul 11, 2005

It's a problem you think we need to explain ourselves.
I hope they sold it for a horse. Even better for the environment.

Shame Boy
Mar 2, 2010

Now imagine doing all that for a car with this as its center dash:

saltylopez
Mar 30, 2010

WampaLord posted:

You left off the best part, what the ** next to "Turn off tax withholding" refers to:


How many deductions would you have to make to get a 100k job into a $0 tax bill?

Each deduction translates into approximately $4,000 of income that's excluded from taxes. So claiming 20 deductions is similar to saying that you will have $80,000 of deductions from your gross income.

Something he almost certainly did not have when it came time to file.

I don't really understand what he meant by the line that starts with "Made 1/3 of my annual post-tax salary..."

asur
Dec 28, 2012

saltylopez posted:

I don't really understand what he meant by the line that starts with "Made 1/3 of my annual post-tax salary..."

He says at the start he had 4 months so I'm assuming that's his normal salary for the 4 months and apparently he has zero expenses.

mastershakeman
Oct 28, 2008

by vyelkin
The real way to do that is just take out a heloc or otherwise default on a house, fight the court case for 5 years and then hope the bankruptcy trustee doesn't take the car


eedit: the realer way is to get a cheap condo with high assessments anywhere but Illinois and rent it on airbnb and never pay the assessments

And the realest way is to rent an airbnb place for one night, refuse to leave, change the locks, fight the eviction for a year all while renting it out yourself.

mastershakeman fucked around with this message at 20:23 on May 12, 2016

i say swears online
Mar 4, 2005

mastershakeman posted:


And the realest way is to rent an airbnb place for one night, refuse to leave, change the locks, fight the eviction for a year all while renting it out yourself.

oh my god

antiga
Jan 16, 2013

That is a golden wonderhanger contender. What's someone that dumb doing for work that pays $100k, christ. Must be silicon valley.

Moneyball
Jul 11, 2005

It's a problem you think we need to explain ourselves.
No, but you see, he's smarter than everyone. Hacking the system.

Nail Rat
Dec 29, 2000

You maniacs! You blew it up! God damn you! God damn you all to hell!!
He said he was somewhat fresh out of college, so he's absolutely in Silicon Valley.

Dillbag
Mar 4, 2007

Click here to join Lem Lee in the Hell Of Being Cut To Pieces
Nap Ghost

Parallel Paraplegic posted:

Now imagine doing all that for a car with this as its center dash:



I dont get this loss edit.

silvergoose
Mar 18, 2006

IT IS SAID THE TEARS OF THE BWEENIX CAN HEAL ALL WOUNDS




Dillbag posted:

I dont get this loss edit.

Y'know, you'd think that joke would start getting old, but it still makes me giggle every single time.

Giant Isopod
Jan 30, 2010

Bathynomus giganteus
Yams Fan

silvergoose posted:

Y'know, you'd think that joke would start getting old, but it still makes me giggle every single time.

One could say it never really had a chance to get old

WampaLord
Jan 14, 2010

Giant Isopod posted:

One could say it never really had a chance to get old

:vince:

As an aside, every time I see this thread title, I read it along to the tune of "My boyfriend's back and you're gonna be in trouble"

necrobobsledder
Mar 21, 2005
Lay down your soul to the gods rock 'n roll
Nap Ghost

WampaLord posted:

How many deductions would you have to make to get a 100k job into a $0 tax bill?
Basically $100k, but it'd be easier to get tax credits of some sort to hit a $0 tax burden, which a lot of people do by being poor and having children. I can only imagine how stupid someone could be to consider having a kid to get a tax credit let alone go through all that for a car.

The parts where he stops paying credit cards for a "virtual loan" is what's a bit scarier to me. I don't think even Wall Street financial shenanigans could make not paying down even a minimum on a high risk, high interest rate loan to pay for a depreciating asset make any sense... Unless the idea is to declare bankruptcy after taking on sufficient credit card debt, but that's the nuclear option last I heard. Strategic defaults make sense on certain loans I suppose.

Then again, during the recession people were more willing to default on their mortgage and lose their house than their auto loan and get the car repossessed.

BonerGhost
Mar 9, 2007

Well yeah it takes a lot longer for foreclosure and for you to be actually removed from the house, plus if you finally do get kicked out, you can sleep in the car. Can't drive the house to work if it's the other way around, and the car is a lot easier to repo.

BEHOLD: MY CAPE
Jan 11, 2004

NancyPants posted:

Well yeah it takes a lot longer for foreclosure and for you to be actually removed from the house, plus if you finally do get kicked out, you can sleep in the car. Can't drive the house to work if it's the other way around, and the car is a lot easier to repo.

This, there are places STILL processing backlogged foreclosures after 2008. Realistically you have a couple of years at minimum between the date of your last mortgage payment and a sheriff showing up with a writ of possession.

KYOON GRIFFEY JR
Apr 12, 2010



Runner-up, TRP Sack Race 2021/22
that tesla guy is a loving retard especially since the model S has been a fairly unreliable piece of junk

CombatInformatiker
Apr 11, 2012

KYOON GRIFFEY JR posted:

that tesla guy is a loving retard especially since the model S has been a fairly unreliable piece of junk

yeah, tesla should have built second-hand honda civics lol that elon dude is so dumb

Moneyball
Jul 11, 2005

It's a problem you think we need to explain ourselves.

CombatInformatiker posted:

yeah, tesla should have built second-hand honda civics lol that elon dude is so dumb

I think he means the dude who is either going to prison or paying huge penalties to the IRS so he could buy an overpriced future car.


Content: Signing up for things and not using them is BWM. CPA prep courses are notoriously expensive, as well as the testing fees. I've been struggling to get through for a few years now, and have passed exactly zero exams.

Not a Children
Oct 9, 2012

Don't need a holster if you never stop shooting.

Isn't the CPA exam supposed to be the most difficult professional exam out there? The reviews are expensive for a reason.

KYOON GRIFFEY JR
Apr 12, 2010



Runner-up, TRP Sack Race 2021/22

CombatInformatiker posted:

yeah, tesla should have built second-hand honda civics lol that elon dude is so dumb

building a reliable car is hard

Hot Dog Day #91
Jun 19, 2003

Is it actually tax fraud to claim too many withholdings reducing your federal withholding? You'd still owe the appropriate amount of taxes, and if you pay by tax day, you shouldn't have any penalties or interest. That's assuming he pays on time in full.

Old Binsby
Jun 27, 2014

Hot Dog Day #91 posted:

Is it actually tax fraud to claim too many withholdings reducing your federal withholding? You'd still owe the appropriate amount of taxes, and if you pay by tax day, you shouldn't have any penalties or interest. That's assuming he pays on time in full.

Which he won't because his money is tied up in an endless series of car loans

asur
Dec 28, 2012

Hot Dog Day #91 posted:

Is it actually tax fraud to claim too many withholdings reducing your federal withholding? You'd still owe the appropriate amount of taxes, and if you pay by tax day, you shouldn't have any penalties or interest. That's assuming he pays on time in full.

Wouldn't you have to pay a penalty since you won't have the paid at least an equal amount in taxes as the previous year and would owe more than whatever the small threshold is?

WampaLord
Jan 14, 2010

Hot Dog Day #91 posted:

Is it actually tax fraud to claim too many withholdings reducing your federal withholding? You'd still owe the appropriate amount of taxes, and if you pay by tax day, you shouldn't have any penalties or interest. That's assuming he pays on time in full.

The problem is he thinks he will owe $0 in taxes for unknown reasons. It's much more likely he will owe several thousand dollars in taxes and won't have any money to pay it because:

Old Binsby posted:

his money is tied up in an endless series of car loans

saltylopez
Mar 30, 2010

asur posted:

Wouldn't you have to pay a penalty since you won't have the paid at least an equal amount in taxes as the previous year and would owe more than whatever the small threshold is?

If you owe more than $1,000 and haven't paid in at least what you owed the previous year, then there is a penalty. He will almost certainly owe tax (likely 5 figures) on a $100,000 salary.

Shame Boy
Mar 2, 2010

saltylopez posted:

If you owe more than $1,000 and haven't paid in at least what you owed the previous year, then there is a penalty. He will almost certainly owe tax (likely 5 figures) on a $100,000 salary.

They can only make him pay taxes if they can catch him as he speeds away in his fast new car though :c00lbert:

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Moneyball
Jul 11, 2005

It's a problem you think we need to explain ourselves.

Not a Children posted:

Isn't the CPA exam supposed to be the most difficult professional exam out there? The reviews are expensive for a reason.

Yes to both, but some of the programs are insanely overpriced. Becker, for example, while quite thorough, is upwards of $4,000. For that, you get lectures (not that useful) a physical and e-book, and the real reason: test bank. You can pass using the test bank exclusively. Other programs sell the test banks for anywhere from $50 to $400.

I won't even get in to the registration fees... register be able to register to be able to register for a test.

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