Off Topic VII

[BigSlam]

Spewing = upset
Canned = ended

You are welcome non-Australians


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[Diop]

was sitting around in my trakkie daks after a day of hard yakka enjoying a schooner of piss, when the sheila comes in looking all spiffy wanting to go the pub, but they won't let me in while I'm wearing me thongs, so I'd rather stay home and chuck a sanga on the barbie.

it will be yonks before the missus forgives me

[HornetJail]

I nearly put that into google translate

[BlackOutBuzz]

Random question and list alert...


When you check this forum, which threads are you most excited about seeing a new, unread post? (excluding draft season, free agent season)

Most Fave
1. Off topic - always cool, fun posts in this thread, almost none of which make me angry
2. Honeybees - its usually me doing the posting in that thread, but still, nothing but awesomeness in that thread.
3. What are you listening to/What are you watching - I always love talking music and TV with the board
4. Any thread containing a Zach Lowe mention about the Hornets

Least Fave
1. Fake Trade Thread - to be honest, I rarely even check this thread. I find 99% of the discussions in this thread to be delusional.
2. College BBall - Don't care about college hoops until March. Don't care about prospects until June.

Heh, I really don't care for your top 4. I'll check them anyway because I'm insane and browse here on my phone like every hour, but those I don't care for as much. Conversely Fake Trade and Draft Prospects are two of my favorites.

Right now my favorite is the MKG thread, but most player-specific (or coach/owner/GM) threads end up going south. I also like Game Threads, Around the NBA, and any random rumor threads that pop up.

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[BlackOutBuzz]

TWC Internet is just terrible (er, worse than usual). We're on the fourth outage of 2016, and this one has lasted all day. Guess I'll be missing tonight's game.

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[amcoolio]

Really depressed. In the 2nd lowest tax bracket (15%), paid out $7000+ in federal/state/social/medicaid taxes, forced to pay 150 a month for Obamacare and haven't ever used it, and for the first time ever I owe taxes (around $800, or a full paycheck). I make below $35000 and making mortgage payments on a new home. Any way around it? This is what turbotax says. Should I get a real tax person? I know fatlever and others are in accounting I think and maybe have a better solution.

I have a degree in Geography, but I work in the finance industry, collecting data on stocks and mutual funds. I'm pretty much a moron when it comes to accounting and taxes (anything other than taxes related to dividends and capital gains), sadly.

That being said, perhaps you can answer a few questions that might help others give you some advice.

1. How many exemptions do you claim 0 or 1?
2. Are you taking the standard deductions or itemizing? If the latter, perhaps you can find some other stuff to itemize?
3. Who do you owe, state, federal or both?
4. Since you work in restaurant industry, do you get tipped? and if so, how does that part impact your taxes?

1. Single (probably whats killing me)
2. Standard (can't afford charity!)
3. I've always had to owe state, even when I was a teen and making barely 10,000 a year and paying state taxes on every paycheck. This time its a huge federal tax. I think it is all Obamacare related.
4. No tips

[fatlever]

Only thing I can think of is to try and itemize. If you own a house, then that's a good start, then you can possibly add car tax, medical bills, gas for work, donations to Goodwill, write off gambling losses, all kinds of crap to get you a bigger deduction than standard. But, like I said, I'm really rather dumb about most of this stuff. Where are the accounting nerds on this board?

[bigbob]

patriots rekking chiefs??

[Diop]

hey Lamar, what's that bball award you won?

[LamarMatic7]

hey Lamar, what's that bball award you won?

I was the month's leading scorer in a basketball league but the trick is that our team only had one game in December due to our schedule, haha. The month has less games due to Christmas to begin with but we had two bye-weeks or smth, to boot. I wouldn't have maintained that 31ppg pace if we played more, to be honest.

[BatumtheGlue]

Watching Liverpool vs Manchester United. The Reds play better than the Red Devils, but the Red Devils just took the lead by a goal from Rooney. Yeah, **** also happen in football, err i mean soccer, lol.

[Snidely FC]

Really depressed. In the 2nd lowest tax bracket (15%), paid out $7000+ in federal/state/social/medicaid taxes, forced to pay 150 a month for Obamacare and haven't ever used it, and for the first time ever I owe taxes (around $800, or a full paycheck). I make below $35000 and making mortgage payments on a new home. Any way around it? This is what turbotax says. Should I get a real tax person? I know fatlever and others are in accounting I think and maybe have a better solution.

I have a degree in Geography, but I work in the finance industry, collecting data on stocks and mutual funds. I'm pretty much a moron when it comes to accounting and taxes (anything other than taxes related to dividends and capital gains), sadly.

That being said, perhaps you can answer a few questions that might help others give you some advice.

1. How many exemptions do you claim 0 or 1?
2. Are you taking the standard deductions or itemizing? If the latter, perhaps you can find some other stuff to itemize?
3. Who do you owe, state, federal or both?
4. Since you work in restaurant industry, do you get tipped? and if so, how does that part impact your taxes?

1. Single (probably whats killing me)
2. Standard (can't afford charity!)
3. I've always had to owe state, even when I was a teen and making barely 10,000 a year and paying state taxes on every paycheck. This time its a huge federal tax. I think it is all Obamacare related.
4. No tips

Here is a not so simple idea I can suggest: turn yourself into a business. The tax laws in this country are written to be advantageous to business owners. Do you own part of the restaurant or just manage? If you own in what structure (corporation, partnership)? If you do not own then here is something you can think about: set yourself up as a restaurant management consultant. Start a Limited Liability Corporation (LLC), for instance Amcoolio Restaurant Consultancy LLC. You can set up an LLC via Legal Zoom or comparable on line site for $150+. You can then register your company on the NC Secretary of State/Corporations Division website prob about $200. An LLC is a pass through entity, meaning that any gains or losses in the corporate entity pass through to your personal taxes. Showing a loss in this scenario is helpful to you, because it offsets your restaurant work revenue. As an LLC you can write off home office expense (a % of your home's sq footage), expense gas/mileage if you travel at all for work. The $350 you spend setting it up will be a write-off. The stated purpose of your LLC can be restaurant management or restaurant management consultancy. If you can convince your restaurant owner to pay you a once a year consultant's fee in lieu of a token amount of your salary, that shows your LLC has income (say once per year he pays you $800 consultant's fee instead of that month's salary; that should be a professional fee that your owner can then write off). Who knows you might even be able to get some restaurant consultancies at other regional eateries or start-up restaurants. The key to making this work is impeccable book-keeping. Document everything, keep receipts. Use an excel spreadsheet or comparable software (Money, or prob can find something online), and book keeper and accountant if you wish. You will need to skip the ez filing form to itemize and there are annual filing fees to keep the LLC going, and you might want to invest in a website advertising your consultation business, software such as Excel to get you going (I have a spreadsheet I use for a stock trading entity I started that could be adapted to your needs that I can send you if you get to that point in the process), but all of these are fees that end up being tax deductible and offset what you earn at your current job at your restaurant. One of the advantages of this approach is you can get the help of experts such as accountants and bookkeepers and expense their fees. If the restaurant consultation business doesn't sound right, there are other ideas you could pursue, such as starting another one of your blogs, for which you attempt to sell advertising. Since you would do that on your home computer you can write off the internet subscription service, home office space, etc. It all sounds like a lot but can bring tax advantages while potentially growing yourself new business revenue.

Also, a single member LLC is considered self-employment. As such you are allowed to expense Obamacare, maybe even obtain cost assistance see here: http://obamacarefacts.com/self-employed-health-insurance/. Being able to write off obamacare fees alone should zero out your tax bill. In addition, being a self-employed corporate entity allows you to do other things such as setting up an annual IRA or other retirement account (allowing you to keep some of your revs as tax deferred investment instead of losing it to the gov via income tax).

[fatlever]

If you are hanging out at home watching the game, come chat in the Panthers/Seahawks game thread.

viewtopic.php?f=155&t=1422075&p=45670008#p45670008

[JDR720]

[tweet]https://twitter.com/rick_bonnell/status/689118549172948993[/tweet]

[Snidely FC]

Panther's Secret Weapon: Waffle House!
http://www.wsj.com/articles/the-carolina-panthers-secret-weapon-waffle-house-1453224305

[James Gatz]

Just got back from doing a job in Miami. Was working 16-18 hours each day. No time to watch any basketball. Bummed my first game back will likely be blowout. Glad to be back on the board though! My contract has ended so I'll be trying to post a little more.

[fatlever]

Welcome back Gatz.

[fatlever]

We are about to get wrecked by an ice storm. Anyone in the Charlotte area better be prepared to lose power. American Airlines has already cancelled all flights in and out of Charlotte for Friday.

I better have power for the Charlotte Orlando game, Chelsea Arensal game and Panthers Cardinals games this weekend.

[JDR720]

it snowed for about 5-10 minutes yesterday

[HornetJail]

it snowed for about 5-10 minutes yesterday

I got mostly sleet yesterday in Matthews, but it lasted for like an hour. hopefully this ice storm doesn't knock power out like the one from 10-15 years ago