[Papa Bear] Dinar Family. As most of you know I don’t normally post on Saturday.
[Papa Bear] So why today?
[Papa Bear] OK I have seen lots of articles on 25.87 rate on IQN and it may be better to take that from an after tax standpoint than your group rate which MIGHT have a tax on it above a certain threshold. NOW, HERE is my question HOW DO YOU FIGURE THAT EVEN BEFORE YOU SEE THE RATE?
[terrib] Papa Bear was wondering same
[Jamison] Papa Bear Plus there is no tax that has gone thru congress changing any tax laws
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[BigDog-OH] Papa Bear You ran out of honey?
[Papa Bear] BigDog-OH Ran out of honey a long time ago. Funny thing to see a BEAR going to the county fair to BUY HONEY.
[Papa Bear] Jamison Just trying to give folks some understanding.
[Jamison] Papa Bear You’re making a great point
[Papa Bear] Tax consequences will be different for everyone if it is income oriented. Does everyone understand?
[Papa Bear] Okie called me last night on this and IPO’s and I hope he understands what I was saying. RATE IS THE X FACTOR on equation folks
[klee123] this is all conjecture until it happens and we are informed by a tax atty, imo
[Papa Bear] klee123 AGREED 100% . Especially with the x-factor and tax laws subject to change through Congress
[BigDog-OH] klee123 Not only that, we will need clarification from the IRS before exchange
[Papa Bear] BigDog-OH Won’t get written from IRS until after IMHO
[sandytob] Papa Bear so a lower rate will result in lower taxes?
[Papa Bear] sandytob You are missing the point. The group rate is when we find out what the x-factor is which needs to be plugged in
[Jamison] Papa Bear So are you suggesting that depending on the rate it will determine what taxes are applied outside of any normal tax bracket that determines taxing rate
[Papa Bear] Jamison Depends on whether what has been written recently is true.
[BigDog-OH] Papa Bear ...Won't get written from IRS until after IMHO... So are you saying we may go into our appointment blind as far as tax implications?
[Papa Bear] BigDog-OH Can’t be unless Congress votes .
[Jamison] BigDog-OH Any tax laws will be known when we walk into appointment. It will be public information if a tax law is changed in Congress. Tax laws cannot be retroactive to previous periods. If we would CE today, the current laws are will apply. And a judgment can be filed to get a ruling on current tax law.
[BigDog-OH] Jamison Thanks, that is the way I understood it
[Papa Bear] BigDog-OH As far as the tax situation it’s always subject to change, BUT my bet knowing how hard it is to get anything out of Congress is that things stay the same IMHO. I’m not a CPA or tax attorney though just your CAREBEAR
[sandytob] Papa Bear And I have been assured that the gen/stud group will have higher rates than any other rates.........therefore it seems you feel that we will be taxed higher if we are in the group.
[Papa Bear] sandytob Maybe yes maybe No . How do you know that for sure?
[Papa Bear] sandytob Highest rate will be on our Group and IM sick of it being called Gen. Studley group
[Papa Bear] Jamison Would you like to answer that or dare I answer.
[Papa Bear] Go ahead I’m with you and glad Jamison is here also
[Jamison] As far as what has been communicated so far, the rate will be known when you go to your appointment.
[Papa Bear] Jamison Would you agree that the Bear has better ears than most?
[Jamison] Unless there are changes passed thru Congress the assumption of the information being put out there, and the source it is coming from needs to be in question, its real simple these changes in law will be public information going into a ce, so using energy to worry about rumors until it happens is not very production. And yes, Papabear’s ears hear things others don’t pick up
[Papa Bear] Folks I will add one more thing I WILL BE GOING WITH THE GROUP RATE. Notice I called it THE GROUP
[Papa Bear] sandytob WHY does this GROUP have to have a name in your eyes?
[Jamison] Papa Bear And that’s a great point, why are we worrying about a name of the group?
[Papa Bear] Jamison Most of you folks have watched the progression. Now deal with it. Calm down stop being confused and let the abundance arrive.
[Jamison] IMHO, too much time and energy is being wasted on small stuff that has nothing to do with our situation, it has complicated the actual process which was developed to be safe and simple. Time is being spent trying to explain carp that people outside with no knowledge of the group are trying to sabotage.
[Papa Bear] Jamison Agreed, my main reason for being here today was tax intel out there before knowledge of rate
[Papa Bear] OK FOLKS, I have helped clear things up. Have A GREAT WEEKEND.