bookie71

Just wait until someone figures out the potential tax on the Roth IRA's and 401-K's.

Have you read the letters from the Chairman: http://www.berkshirehathaway.com/letters/letters.html and Charley's letters: http://www.berkshirehathaway.com/wesco/WescoHome.html I believe that the earlier ones are easier to understand. Then get all the annual reports for an industry you are interested in and read, read , read. http://www.annualreports.com/ http://ft.ar.wilink.com/v5/index.asp Lots like to look at them on line, but I am an old fa%t and much prefer to hold them and make notations. Every once in awhile one will jump out and slap you in the face as being a screaming buy. Then you do all the ratios etc to prove to yourself that it is a great buy/ Then . . . Don't be afraid to make a mistake, but try to keep them small. You have your whole life in front of you so don't get in a hurry.

But Charley bought out a stamp company (Blue ? Stamps) lots of deferred pay outs.

Guy Spier had this article in his linked in link: http://psychcentral.com/news/2014/02/15/when-stocks-fall-hospitals-fill-with-mentally-ill/65949.html

When we were in college in the 1960's we would call home "person to person" to ourselves to let our folks know we were back safely. My mother and mother in law kept an egg timer by the phone so nobody would talk too long. Yes competition does terrible things ;D

"The economics make no sense to those without connections or those with large AUM. You couldn't just get a few people today together and offer the same Buffett partnership scheme. If I'm reading this right, you can't get 5 people to pitch in $100k each and take a performance fee. I can see why innovation is in such short supply." . BUT 100,000 back then is equivalent to how many million now?

Cry me a river. It's like asking for Spark Notes for the 10-K. Tough shit. Read the whole damn thread. AMEN!!!!!!!!!!!!!! At one time I thought an "ignore thread" would be great as some of the topics aren't of interest, BUT I catch myself going back and reading them later and learning about areas that I was ignorant of.

Actually I have never met anyone who liked their coffee. Years ago I remember an article about chains which said that it wasn't the taste of the food that was important, but the consistency of the food. It used McDonald's as an example. Their hamburgers may taste like cardboard, but you know what to expect and that all of their hamburgers will be the same no matter where you are, Phoenix, Tokyo, Frankfurt, etc. When our oldest daughter came back from her year in India, the first thing she did at the stopover in Germany was buy a McDonald's hamburger. She normally would avoid the place.

Before you can figure your tax benefit from the interest you need to factor in the standard deduction which you get anyway whether you itemize or not. Then IF your gross income is over a certain amount your itemized deductions are reduced to the standard deduction. Te easiest way is to input your info into one of the tax programs and see what your tax is with and without.

You take the % you are entitled to. BUT be careful as it must be the "exclusive" use as an office, not used for any other purpose.. It is called "audit roulette".

although if the market's down it might not be a bad idea to turn this into a tax-loss event for your home - iv'e been thinking how to short-sell my home if the market turns around , and this is the only way i could think of. . Remember the amount of depreciation is based on the LOWER of cost or fair market value, thus you would be starting out at depressed prices.

You also turn a tax free gain (up to 250,000) into a taxable event (based on the % office). The rules are complex if you want to deduct as must be exclusively for office and no other office available. It is one of the most overrated deductions around. Remember you get the interest and taxes anyway.

You might want to check as if your IRA goes directly (as in a beneficiary) they can take it out over their expected life. (Required Minimum Distribution, RMD).

If he is under 59 1/2 he will have to pay a 10% penalty in addition to the tax. :( He should also be aware that the 401K is a protected asset if he should ever get in trouble financially (illness, bad judgement, lawsuit, etc) and normally is exempt from creditors.

GO SEAHAWKS!!!

Mother Earth News has lots of articles on off the grid and solar energy http://www.motherearthnews.com/renewable-energy/solar-panels-for-your-home-zm0z11zphe.aspx

Thanks

The version for nonsubscribers http://online.wsj.com/news/articles/SB10001424052702303819704579320874278531400?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303819704579320874278531400.html

Interesting - Thanks for posting

It all goes in cycles, remember when Walmart called everyone an "associate".

Are they still publishing? I haven't received an issue in ages.

I guess I'm missing something. Since a Roth is non taxable when withdrawn, how are you paying tax? If done properly through a domestic relations order ((DRO( I think it is called)) the ex-spouse would be liable for any tax, but as it is a Roth there probably wouldn't be any. What am I missing?

ditto

CPA with my own small firm. A generalist (jack of all trades,master of none). Have been in practice since 1965. All small business, wouldn't know where to start on a big company. Have had many that grew and moved on to the national firms. Prefer the smaller entities as they are so much easier to understand.

One of the TV commentators said that "It gives a whole new meaning to the term"Mile High City" :)