RE: transcending racial prejudice

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slvemike4u -> RE: transcending racial prejudice (11/9/2008 8:41:52 PM)
Hell BestBaby you had a bagfull of reasons didn't you.

bestbabync -> RE: transcending racial prejudice (11/9/2008 8:43:06 PM)
[:D]yeah

rulemylife -> RE: transcending racial prejudice (11/9/2008 8:44:47 PM)
quote: ORIGINAL: Joenextdoor I believe you do not pay capital gains taxes only if you invest the entire proceeds in a new house. There are some exemptions in the code, but for the most part, a gain is a gain, and is taxable. Capital gains and real estate sale: Tax rules give break to home ... One of the best tax breaks around is the home-sale exclusion. A homeowner can make up to $250000 profit (twice that if married) when he sells his principal ... http://www.bankrate.com/brm/news/real-estate/20041018a1.asp "Some sellers are surprised by this break, especially if they've been in their homes for a while. That's because before May 7, 1997, the only way you could avoid paying taxes on your home-sale profit was to use the money to buy another, more-expensive house within two years. Sellers age 55 or older had one other option. They could take a once-in-a-lifetime tax exemption of up to $125,000 in profits. And in all instances, there was tax paperwork (Form 2119) to fill out to show that you followed the rules. But when the Taxpayer Relief Act of 1997 became law, the home-sale tax burden eased for millions of residential taxpayers. The rollover or once-in-a-lifetime options were replaced with the current per-sale exclusion amounts. "There is some logic to this law change because most people under the prior rules didn't recognize a taxable gain because they rolled it over into another residence," says Trinz. "The change essentially makes it easier to dispose of your residence." Still some requirements to meet If you used pre-1997 rules for residential sales, don't worry. That doesn't disqualify you from claiming the exclusion on any residential sales now. The law change applies to all sales since it took effect. Another bonus of the new rules: You don't have to buy another home with your sale proceeds. You can use the money to travel to Europe in style, buy an RV and drive across the country or get all those designer shoes you never could afford before."

rulemylife -> RE: transcending racial prejudice (11/9/2008 8:49:21 PM)
quote: ORIGINAL: bestbabync oh my, then the tax increase may hurt small businesses like real estate agencies? How exactly do you perceive that hurting real estate agencies?

bestbabync -> RE: transcending racial prejudice (11/9/2008 8:49:40 PM)
this is totally off topic, but will this loophole you mention help a small business? sounds like it applies only to a homeowner's sale of their primary home.

slvemike4u -> RE: transcending racial prejudice (11/9/2008 8:51:18 PM)
Small business's have their own tax loophole's.

thornhappy -> RE: transcending racial prejudice (11/9/2008 8:55:57 PM)
quote: ORIGINAL: bestbabync quote: ORIGINAL: slvemike4u quote: ORIGINAL: bestbabync oh my, then the tax increase may hurt small businesses like real estate agencies? So you present one dilemma, it gets shot down....you manufacture another.You are determined to see doom and gloom in an Obama Presidency,sort of like Joe the Plumber on steroids....good luck with that,have fun for the next 8 years. i did not manufacture this. i just remembered the discussion i had with someone else about capital gains taxes being raised. another reason i did not vote for him. Instead of believing everything in a discussion, have you tried looking at organizations like Factcheck, or going straight to a candidate's website? There are many ways to find the facts you're looking for. thornhappy

rulemylife -> RE: transcending racial prejudice (11/9/2008 8:57:23 PM)
quote: ORIGINAL: Joenextdoor The tax increases will hurt small business, and I own one that will feel the impact of it. I do construction, but also buy land and build houses, that I put on the market for sale. The profits from said sale are taxed as capital gains, not regular income, and therefore any increase in capital gains WILL impact me. I am anxiously awaiting to see just what he feels it should be. I know during the primaries he was somewhere around 29%. We will see, but that would effectively be doubling my taxes....so much for not impacting small business. Again, the current capital gains rate is at 15%, he has proposed raising it to 20%. I can find you documentation if you like but it is pretty self-evident that if he is going to raise it to 29% then you might just as well eliminate it and tax capital gains as ordinary income.

bestbabync -> RE: transcending racial prejudice (11/9/2008 8:59:37 PM)
yeah....thank you. i did check out the PE website before the election. the tax loopholes were not on it.

rulemylife -> RE: transcending racial prejudice (11/9/2008 9:02:10 PM)
quote: ORIGINAL: Naga quote: ORIGINAL: rulemylife No, I don't realize that. You might want to talk to your accountant, or at least talk to Mr. Google before you keep spitting these things out without documentation. He is letting the Bush tax cuts expire on those in the upper tax brackets but retaining all the rest and promising further reductions. I did talk to my accountant, it was how I knew to begin making my plans to start with. I have documented things in the past, but since people keep ignoring them, why would I want to continue doing so? Well, I'll make you a deal. If you document your claim on how everyone's taxes are going to be raised under Obama I promise not to ignore it.

slvemike4u -> RE: transcending racial prejudice (11/9/2008 9:03:28 PM)
And I promose I will [:D]

rulemylife -> RE: transcending racial prejudice (11/9/2008 9:08:32 PM)
quote: ORIGINAL: bestbabync this is totally off topic, but will this loophole you mention help a small business? sounds like it applies only to a homeowner's sale of their primary home. It's not a loophole, it's tax law and it is only meant to apply to homeowners. Which is what you asked about, how the capital gains tax would affect you selling your home.

slvemike4u -> RE: transcending racial prejudice (11/9/2008 9:12:46 PM)
Rule in truth I am as guilty as bestbaby of mischaracterizing tax laws as loopholes,it is the snarky in me...sorry.

bestbabync -> RE: transcending racial prejudice (11/9/2008 9:17:03 PM)
i have one more question off topic and i will not ask another. what profession will make the most money in the next 8 years?? i know i know!!! Accountants......LOL!!!

Naga -> RE: transcending racial prejudice (11/9/2008 9:50:36 PM)
quote: ORIGINAL: rulemylife Well, I'll make you a deal. If you document your claim on how everyone's taxes are going to be raised under Obama I promise not to ignore it. Real quick: http://www.realclearmarkets.com/articles/2008/11/is_obama_swiping_the_taxcut_is.html You can also google Wall Street Journals on the topic. For example: http://online.wsj.com/article/SB122463231048556587.html?mod=googlenews_wsj http://online.wsj.com/article/SB121910303529751345.html?mod=googlenews_wsj

blacksword404 -> RE: transcending racial prejudice (11/9/2008 10:44:16 PM)
quote: ORIGINAL: bestbabync quote: ORIGINAL: camille65 Doesn't he call himself black? Are you the one that determines what he is permitted to call himself now? for Christ sake! people speak of racism and how it should not exist, then they put labels on themselves and others. they dangle it and say to the world, "look, we now have a black president!" just like the political party argument. both the dems & pubs vote most time the same. we are all americans not black, white etc. since i have such a mixed racial background i consider myself an american, not black or white. We are what we are. Regardless of how you consider yourself. Others see you however the see you. Obama's father was not an ancestor of American slaves. And i don't think his mothers sides ancestor Had slaves. So he is outside the slavery bubble. But When some racist walks up on him i doubt they see anything other than the black skin he has. If his skin was much lighter i guess he wouldn't have that problem. So i see why he says he is black. I listen to a lot of radio on XM radio and most of the time a host says he is the first black president a white person calls up and reminds them that he is half white. Their meaning being as successful as he has been he is not fully black. So Ha ha even this you can't have. It's funny to hear them talk. Some will never let go of their hatred. After it has taken everything else, the hate is all they have left.

blacksword404 -> RE: transcending racial prejudice (11/9/2008 11:02:11 PM)
quote: ORIGINAL: bestbabync oh and i forgot! i see our PE as a man, not a white man or a black man. i am not wearing rose colored glasses and i did not drink the koolaide. but i pray for our country and PE Obama. i respect him for his courage, i would never wish him ill and i do want him to succeed for all our sakes. Do you hate both sides of your heritage that much that you refuse to accept them?

stella41b -> RE: transcending racial prejudice (11/9/2008 11:52:41 PM)
quote: ORIGINAL: blacksword404 quote: ORIGINAL: bestbabync oh and i forgot! i see our PE as a man, not a white man or a black man. i am not wearing rose colored glasses and i did not drink the koolaide. but i pray for our country and PE Obama. i respect him for his courage, i would never wish him ill and i do want him to succeed for all our sakes. Do you hate both sides of your heritage that much that you refuse to accept them? This is exactly what I was thinking.

theobserver -> RE: transcending racial prejudice (11/9/2008 11:54:24 PM)
quote: ORIGINAL: Daddysredhead quote: ORIGINAL: GreedyTop observer.. meet DRH (affectionately known as Red).. I think the two of you will get along famously......:) Red..meet observer (she's kinda close to you) and she's obviously wicked smart.. and despite this thread I think the two of you havemuch in common as far as world views go :) maybe more? hugs Hi, observer! I've seen you out and about a little on the threads. Glad to know you. [:)] You live nearby. Very nice. I'm glad you have the same well wishes for our President Elect and our country. Hopefully sooner than later, the US get its chance to exhale. Again, nice meeting you. Red Nice to meet you, but I live far away from you. I live in Washington/ Pacific Northwest and you are in Virginia! lol

theobserver -> RE: transcending racial prejudice (11/9/2008 11:55:26 PM)
quote: ORIGINAL: GreedyTop adores rule This has nothing to do with the current discussion but ... Thank you Miss Greedy for the nice compliments. :)

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