Search found 303 matches

by Burzmali
Thu Dec 10, 2015 12:39 am
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Crowdinvesting returns
Replies: 8
Views: 1100

Re: Taxes on Crowdinvesting returns

I agree with ND, this sets off a lot of alarm bells. Very interesting how the "preferred" shareholders are last in line after the developer, the common shareholders and the service fee for their take. Nothing about this has really been tested. The game involved is being created by a devel...
by Burzmali
Wed Dec 09, 2015 8:27 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Crowdinvesting returns
Replies: 8
Views: 1100

Re: Taxes on Crowdinvesting returns

To the extent the distributions exceed the "earnings and profits" of the corporation, they are not dividends but are considered a return of capital to the extent of basis, and beyond that capital gains. See IRC sections 301 and 316. Basically, the company works like this example based on ...
by Burzmali
Wed Dec 09, 2015 7:22 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Crowdinvesting returns
Replies: 8
Views: 1100

Re: Taxes on Crowdinvesting returns

Restricted shares which produce dividends are not that uncommon, although the restriction being permanent seems unusual. I actually have a few thousand in restricted REIT shares, although they are slowly becoming unrestricted as the REIT has merged into a public corporation. However, they offered a...
by Burzmali
Wed Dec 09, 2015 4:55 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Crowdinvesting returns
Replies: 8
Views: 1100

Taxes on Crowdinvesting returns

With recent laws relaxing the regulation on offering shares of an enterprise to smaller less savvy investors broadly referred to as "crowdinvesting", I'm wondering what the tax implication of some of these "opportunities" are given that many seem to have rather quirky terms and c...
by Burzmali
Fri Feb 13, 2015 4:20 pm
Forum: US
Topic: Sovereigns: The Next Generation
Replies: 20
Views: 1839

Re: Sovereigns: The Next Generation

Famspear wrote:he's licensed as an attorney in California

Of course he is...
by Burzmali
Thu Feb 12, 2015 9:29 pm
Forum: US
Topic: Sovereigns: The Next Generation
Replies: 20
Views: 1839

Re: Sovereigns: The Next Generation

by Burzmali
Wed Feb 11, 2015 4:11 pm
Forum: US
Topic: Sovereigns: The Next Generation
Replies: 20
Views: 1839

Sovereigns: The Next Generation

So this video has been making the rounds: https://www.youtube.com/watch?v=CPtpKNyaO0U Presuming the story is legit (I haven't seen anything to suggest otherwise, but I always get a little tingle when someone makes a mass appeal like this), is there any hope for this poor kid? Based on what I can gat...
by Burzmali
Tue Jan 06, 2015 4:51 pm
Forum: Gambling and Quatloosia Good Life
Topic: Really.....
Replies: 83
Views: 7564

Re: Really.....

Search in Windows went away in largely because as the operating system became more complex, a plain old text search would take too long. If you want a system that "just works" and you aren't too picky about having to do things their way instead of how you think is best, just pay the Apple ...
by Burzmali
Tue Apr 29, 2014 4:58 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Bitcoin
Replies: 25
Views: 3385

Re: Taxes on Bitcoin

See also the petition at Whitehouse.Gov, AMEND IRS NOTICE 2014-2Taxing virtual currency/bitcoin as property stifles new technology&creates untenable requirements The petition does not say why enabling the use of crypto currency is a good idea or important. To me, curbing speculation and abuse i...
by Burzmali
Fri Apr 18, 2014 2:02 pm
Forum: MLM Scams Forum (as if any of them aren't)
Topic: BitCoin Related Site Shut Down
Replies: 38
Views: 11378

Re: BitCoin Related Site Shut Down

An AP article indicates that two FL men were arrested in Feb on money laundering charges for using Bitcoin for selling Bitcoin to undercover officers who claimed they were going to use it to purchase stolen credit card information. A lot will depend here on whether the charges actually hold up in c...
by Burzmali
Tue Apr 08, 2014 8:51 pm
Forum: US
Topic: Chills on Planet Merrill (Steven Kosin)
Replies: 61
Views: 3933

Re: Chills on Planet Merrill

Max Planck's statement of the First Law, from "Treatise on Thermodynamics": It is in no way possible, either by mechanical, thermal, chemical, or other devices, to obtain perpetual motion, i.e. it is impossible to construct an engine which will work in a cycle and produce continuous work,...
by Burzmali
Tue Apr 08, 2014 3:47 pm
Forum: US
Topic: Chills on Planet Merrill (Steven Kosin)
Replies: 61
Views: 3933

Re: Chills on Planet Merrill

wserra wrote:Nice "hobbyist engineer". He obviously believes that the First Law of Thermodynamics has something to do with making sure the water in his shower isn't too hot.

Be fair, it isn't the first law he has a complaint with so much as the second.
by Burzmali
Wed Mar 26, 2014 3:40 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Bitcoin
Replies: 25
Views: 3385

Re: Taxes on Bitcoin

In other words, if you bought it or mined it for nothing and then let it appreciate the way it has lately, and then sell/convert it, you're in for a big ole whopping capitol gain tax. That's no real surprise though. This situation was going to break one of two ways, either in favor of the large ins...
by Burzmali
Fri Mar 21, 2014 1:43 pm
Forum: Gambling and Quatloosia Good Life
Topic: Amelia Earhart... Jr?
Replies: 2
Views: 418

Re: Amelia Earhart... Jr?

The ocean is a lot shallower in this case, satellite imagery can see through enough water to find wreckage, if the conditions are right.
by Burzmali
Thu Mar 06, 2014 2:52 pm
Forum: MLM Scams Forum (as if any of them aren't)
Topic: BitCoin Related Site Shut Down
Replies: 38
Views: 11378

Re: BitCoin Related Site Shut Down

Details are starting to trickle out about how Silk Road was located: http://dealbook.nytimes.com/2014/03/04/silk-road-had-digital-outpost-in-pennsylvania/?_php=true&_type=blogs&_r=0 Including a warrant served on the US-based backup host JTAN: http://www.scribd.com/doc/210635486/JTAN-com-Sear...
by Burzmali
Mon Mar 03, 2014 8:40 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Bitcoin
Replies: 25
Views: 3385

Re: Taxes on Bitcoin

My sense, is that if the casinos are using bitcoin, then they probably aren't legal to begin with, and the suckers clients have about the same chances they used to in any back room gambling establishment, i.e. none. If the casinos aren't reporting the winnings, they would be in violation of the tax...
by Burzmali
Fri Dec 20, 2013 5:12 pm
Forum: Gambling and Quatloosia Good Life
Topic: Freedom Ship
Replies: 16
Views: 928

Re: Freedom Ship

Depends on exactly how much of a libertarian paradise it is. If half the guests are armed, and they have a security staff capable of handling a ship half full of drunken armed libertarians, the Freedom ship's offerings may include bouts of pirate hunting rather than the opposite.
by Burzmali
Mon Dec 09, 2013 7:40 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Bitcoin
Replies: 25
Views: 3385

Re: Taxes on Bitcoin

Well, isn't that just extra special clever, a super duper encrypted cyber currency with a built hacker's entry point. Ask they say, the risks you know are the risks you can prepare for. I think it is telling that with billions of dollars worth in circulation, no one has found a flaw in the algorith...
by Burzmali
Thu Dec 05, 2013 5:35 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxes on Bitcoin
Replies: 25
Views: 3385

Re: Taxes on Bitcoin

I haven't heard of any actual hacking of the system, but if it hasn't already, it will sometime in the near future. The actual method of hacking the system itself is well known and part of the design. If you possess a significant % of the hashing power, you have a chance of being able to insert fak...
by Burzmali
Wed Nov 13, 2013 8:22 pm
Forum: US
Topic: One step @ a time (Marc Stevens)
Replies: 320
Views: 33018

Re: One step @ a time (Marc Stevens)

MICHAEL GEORGE FITZPATRICK 14214-023 51-White-M 01-29-2016 FLORENCE ADMAX USP Damn. Fitzpatrick is in Florence AdMax? For those who don't know, it's the highest security facility in the country. And on a relatively short sentence, at that. He's been a bad boy while locked up. Think he tried to file...

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