greenlikemoney
Well-Known Member
Uncle buck probably never made a 1/4 mil his entire life. He's probably a welfare rat.
CBO Estimates More Than 80 Miilion Will Lose Their Healthcare
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nitro harley
Well-Known Member
I believe a life time of welfare pays better than that....It's more than minimum wages if you do it right..Plus his pot sales...He is living the american dream...I am sure of it....But he is more than likely counting on his inheritance as personal wealth...IMO
Doer
Well-Known Member
And you are probably a sub-human of the slimy variety.
Doer
Well-Known Member
Inheritance is personal wealth. But what you said was envy.
Not only that, Buck is a clever and practiced nose tweeker. If he told you, it is totally up to him, if any of it is true.
Inheritance is potential personal wealth, it's certainly not considered in ones net worth.
see4
Well-Known Member
Inheriting is potential personal wealth, yes, accurate in the notion of potential, you can inherit debt. Yuk.
But it is always considered part of one's net worth, when either a debt or credit, if you are the owner, it counts.
Actually see4, that is not true.
Inheritance can only be counted in your net worth after the inheritance, whether it's an asset or a liability.
It's more like future equity.
never mind, doer just correct me.
I guess what I am saying is, a guy like Buckie cannot count what he is going to inherit in his net worth.
Doer
Well-Known Member
If you have not inherited it is not inheritance. If you did, you will count it as net worth.
Very true.
I've heard many people talk about the inheritance they have coming, so the word inheritance is the wrong word in that context.
So what would be the correct way to put it?
see4
Well-Known Member
Well inheritance is nothing until after probate. I have been taxed on inheritance as part of earnings. Wasn't much, but it was enough for the feds and state to take notice.
I see it this way, if I'm getting taxed for it, it's part of my net worth.
How in the world could they tax an inheritance as earned income?
Doer
Well-Known Member
Just a simple change in the Regulation will do it, and it is coming. Why tax it at all? It has been taxed twice at least already, and maybe even three times.
What is coming is a cap on wealth. You may cheer as your knee jerks, but they already describle a stinkin' 1/4 $Mil, as wealth.
Oh I agree that with a single stoke of a pen the estate tax exemption will drop like a rock in a millpond.
I still can't figure out why see4 got taxed as earned income considering the current tax laws.
Winter Woman
Well-Known Member
Inheritance is reported on a K-1 and any income generated after probate is considered income. The inheritance is not actually taxed except for a few states. Income tax not reported and paid by the decedent will then be paid by the estate or the heir for things like last paycheck, etc., received after death.
nitro harley
Well-Known Member
Doer...
Me envy Buck? That wouldn't really be possible...The inheritance comment was only a return jab to UncleBuck for his made up inheritance jabs at me, nothing more....
greenlikemoney
Well-Known Member
No, actually, I'm an employed, true red-white-and-blue American, who takes care of myself and my family without government handouts. I also, through taxation, help support welfare recipients. They should at least send me a framed photo of the non-family members I help support to set on my desk.
A sub-human of the slimy variety? No, that would be the current POTUS, a man who couldn't tell the truth to save his life.
Doer
Well-Known Member
Well, why are you going around trying to fool us then?
burgertime2010
Well-Known Member
You are no more American than any of us, you are no better than anybody who needs government assistance, your taxes are appreciated but the narcissism is unnecessary. Give it a rest.
Antidisestablishmentarian
Well-Known Member
So you feel a productive member of society is no better than a bum?
What you smoking? Pass it this way!
What you smoking? Pass it this way!
Doer
Well-Known Member
No American is better than any other American. Why do you think people from all over are standing in line and learning the Civics? To be Americans.
Walk a mile before you curse those squeaky shoes. Then be glad you have them.