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Yea Eadurdo, radio is a growth-industry and crappy HD radios will save it!
"Steve" wrote in message ... Yes, but this doesn't imply that those with brokerage accounts necessarily tell the truth 100% of the time. Even if you're only trying to throw up a smoke screen here, you'll have to be more subtle than this. Investment accounts are subject to 1099 reporting. Any brokerage account 1099 will show distribution of dividends, long and short term capital gains and any other taxable transaction, with the data being transmitted to the IRS electronically. I even have an account that I closed but which ended up with about $30 left sine some kind of dividend was in processing when I closed the account and I get an annual 1099 for a couple of cents of dividends and occasional capital gains of a dollar or two. I have to put that on my tax return, too. I can't see how anyone could hide income or capital gains from a brokerage account since the IRS gets all the data automatically on every such account. The IRS computers can instantly note a mis-match of income reported at the source and income declared on a return. Heck, even the interest on checking and savings accounts gets reported to the IRS. |
Yea Eadurdo, radio is a growth-industry and crappy HD radios willsave it!
On Jan 7, 11:42*am, "David Eduardo" wrote:
"Steve" wrote in message ... Yes, but this doesn't imply that those with brokerage accounts necessarily tell the truth 100% of the time. Even if you're only trying to throw up a smoke screen here, you'll have to be more subtle than this. Investment accounts are subject to 1099 reporting. Any brokerage account 1099 will show distribution of dividends, long and short term capital gains and any other taxable transaction, with the data being transmitted to the IRS electronically. I even have an account that I closed but which ended up with about $30 left sine some kind of dividend was in processing when I closed the account and I get an annual 1099 for a couple of cents of dividends and occasional capital gains of a dollar or two. I have to put that on my tax return, too. I can't see how anyone could hide income or capital gains from a brokerage account since the IRS gets all the data automatically on every such account. |
Yea Eadurdo, radio is a growth-industry and crappy HD radios willsave it!
David Eduardo wrote: "Steve" wrote in message ... Yes, but this doesn't imply that those with brokerage accounts necessarily tell the truth 100% of the time. Even if you're only trying to throw up a smoke screen here, you'll have to be more subtle than this. Investment accounts are subject to 1099 reporting. Any brokerage account 1099 will show distribution of dividends, long and short term capital gains and any other taxable transaction, with the data being transmitted to the IRS electronically. I even have an account that I closed but which ended up with about $30 left sine some kind of dividend was in processing when I closed the account and I get an annual 1099 for a couple of cents of dividends and occasional capital gains of a dollar or two. I have to put that on my tax return, too. I can't see how anyone could hide income or capital gains from a brokerage account since the IRS gets all the data automatically on every such account. The IRS computers can instantly note a mis-match of income reported at the source and income declared on a return. Heck, even the interest on checking and savings accounts gets reported to the IRS. Heck, even faux Hispanics get reported to the IRS. |
Yea Eadurdo, radio is a growth-industry and crappy HD radios willsave it!
Steve wrote: On Jan 7, 11:42 am, "David Eduardo" wrote: "Steve" wrote in message ... Yes, but this doesn't imply that those with brokerage accounts necessarily tell the truth 100% of the time. Even if you're only trying to throw up a smoke screen here, you'll have to be more subtle than this. Investment accounts are subject to 1099 reporting. Any brokerage account 1099 will show distribution of dividends, long and short term capital gains and any other taxable transaction, with the data being transmitted to the IRS electronically. I even have an account that I closed but which ended up with about $30 left sine some kind of dividend was in processing when I closed the account and I get an annual 1099 for a couple of cents of dividends and occasional capital gains of a dollar or two. I have to put that on my tax return, too. I can't see how anyone could hide income or capital gains from a brokerage account since the IRS gets all the data automatically on every such account. The IRS computers can instantly note a mis-match of income reported at the source and income declared on a return. Heck, even the interest on checking and savings accounts gets reported to the IRS. I don't see how your remarks above are relevant. You aren't trying to hide anything from the IRS, so far as I know. You're simply lying to the readers of this group about how much money you have. Have you ever thought about taking up a hobby, like stamp collecting? If he did, he'd probably lie about having or having had at least a dozen of the 'inverted jenny' airmail stamps. All in someone else's name of course. |
Yea Eadurdo, radio is a growth-industry and crappy HD radios will save it!
"Steve" wrote in message ... On Jan 7, 11:42 am, "David Eduardo" wrote: "Steve" wrote in message ... Yes, but this doesn't imply that those with brokerage accounts necessarily tell the truth 100% of the time. Even if you're only trying to throw up a smoke screen here, you'll have to be more subtle than this. Investment accounts are subject to 1099 reporting. Any brokerage account 1099 will show distribution of dividends, long and short term capital gains and any other taxable transaction, with the data being transmitted to the IRS electronically. I even have an account that I closed but which ended up with about $30 left sine some kind of dividend was in processing when I closed the account and I get an annual 1099 for a couple of cents of dividends and occasional capital gains of a dollar or two. I have to put that on my tax return, too. I can't see how anyone could hide income or capital gains from a brokerage account since the IRS gets all the data automatically on every such account. The IRS computers can instantly note a mis-match of income reported at the source and income declared on a return. Heck, even the interest on checking and savings accounts gets reported to the IRS. I don't see how your remarks above are relevant. You aren't trying to hide anything from the IRS, so far as I know. You're simply lying to the readers of this group about how much money you have. You don't have to have much money to find advantages in a living trust. Even if a family's only wealth is in home equity, it is appropriate. Have you ever thought about taking up a hobby, like stamp collecting? My hobby and profession are the same, radio. |
Yea Eadurdo, radio is a growth-industry and crappy HD radios will save it!
"dxAce" wrote in message ... All in someone else's name of course. A trust or a corporation do not constitute having something in "someone else's name." A living trust simply presestablishes the future ownership of one's assets upon death, with the objective being the avoidance of probate and the resultant delays and costs. A corporation is not a person. It is a legal entity for an enterprise that shields the owners or shareholders from personal liability. There are corporations that are 100% owned by one individual, where all shares are in one name... and the shares are nominative. |
Yea Eadurdo, radio is a growth-industry and crappy HD radios willsave it!
David Eduardo wrote: "Steve" wrote in message ... On Jan 7, 11:42 am, "David Eduardo" wrote: "Steve" wrote in message ... Yes, but this doesn't imply that those with brokerage accounts necessarily tell the truth 100% of the time. Even if you're only trying to throw up a smoke screen here, you'll have to be more subtle than this. Investment accounts are subject to 1099 reporting. Any brokerage account 1099 will show distribution of dividends, long and short term capital gains and any other taxable transaction, with the data being transmitted to the IRS electronically. I even have an account that I closed but which ended up with about $30 left sine some kind of dividend was in processing when I closed the account and I get an annual 1099 for a couple of cents of dividends and occasional capital gains of a dollar or two. I have to put that on my tax return, too. I can't see how anyone could hide income or capital gains from a brokerage account since the IRS gets all the data automatically on every such account. The IRS computers can instantly note a mis-match of income reported at the source and income declared on a return. Heck, even the interest on checking and savings accounts gets reported to the IRS. I don't see how your remarks above are relevant. You aren't trying to hide anything from the IRS, so far as I know. You're simply lying to the readers of this group about how much money you have. You don't have to have much money to find advantages in a living trust. Even if a family's only wealth is in home equity, it is appropriate. Have you ever thought about taking up a hobby, like stamp collecting? My hobby and profession are the same, radio. I just gotta take a moment here to LMFAO! |
Yea Eadurdo, radio is a growth-industry and crappy HD radios willsave it!
David Eduardo wrote: "dxAce" wrote in message ... All in someone else's name of course. A trust or a corporation do not constitute having something in "someone else's name." A living trust simply presestablishes the future ownership of one's assets upon death, with the objective being the avoidance of probate and the resultant delays and costs. A corporation is not a person. It is a legal entity for an enterprise that shields the owners or shareholders from personal liability. There are corporations that are 100% owned by one individual, where all shares are in one name... and the shares are nominative. And yet another moment to LMFAO! |
Yea Eadurdo, radio is a growth-industry and crappy HD radios will save it!
"dxAce" wrote in message ... David Eduardo wrote: "dxAce" wrote in message ... All in someone else's name of course. A trust or a corporation do not constitute having something in "someone else's name." A living trust simply presestablishes the future ownership of one's assets upon death, with the objective being the avoidance of probate and the resultant delays and costs. A corporation is not a person. It is a legal entity for an enterprise that shields the owners or shareholders from personal liability. There are corporations that are 100% owned by one individual, where all shares are in one name... and the shares are nominative. And yet another moment to LMFAO! In other words, you disagree with the need for living trusts and shielding personal assets through incorporation? |
Yea Eadurdo, radio is a growth-industry and crappy HD radios willsave it!
David Eduardo wrote: "dxAce" wrote in message ... David Eduardo wrote: "dxAce" wrote in message ... All in someone else's name of course. A trust or a corporation do not constitute having something in "someone else's name." A living trust simply presestablishes the future ownership of one's assets upon death, with the objective being the avoidance of probate and the resultant delays and costs. A corporation is not a person. It is a legal entity for an enterprise that shields the owners or shareholders from personal liability. There are corporations that are 100% owned by one individual, where all shares are in one name... and the shares are nominative. And yet another moment to LMFAO! In other words, you disagree with the need for living trusts and shielding personal assets through incorporation? No, I'm LMFAO because you dodged the whole 'inverted jenny' thing... ....'Eduardo', you're one of the most hilarious folks I've ever encountered. |
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