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Offshoreonly.com (https://www.offshoreonly.com/forums/)
-   General Boating Discussion (https://www.offshoreonly.com/forums/general-boating-discussion-51/)
-   -   LDD/Steven Wade Thomas VS. PS85 Conclusion (https://www.offshoreonly.com/forums/general-boating-discussion/226010-ldd-steven-wade-thomas-vs-ps85-conclusion.html)

Audiofn 03-14-2010 10:11 PM
You must have been the guy that was packaging all those bad loans and selling them on the market Nordic. :D

Skullkrusher 03-15-2010 07:35 AM
I never thought you would be able to collect and I still feel that way but if you really want to put to LDD, here is an idea that could work. Any debt over $600 that is forgiven is taxable as income. You could send him and the IRS a letter stating that the debt is forgiven and he would be taxed on $513,400. I know Dean12567 on this forum is a CPA maybe you should PM him or consult your accountant.

GB 03-15-2010 08:05 AM
Originally Posted by Skullkrusher (Post 3067578)
Any debt over $600 that is forgiven is taxable as income. You could send him and the IRS a letter stating that the debt is forgiven and he would be taxed on $513,400.
That hurts just thinkin' about it! :D

danh63 03-15-2010 09:13 AM
Originally Posted by GB (Post 3067591)
That hurts just thinkin' about it! :D
NO KIDDING!

Donziweasel 04-27-2010 08:17 AM
I just want to say that I have a lot of respect for prostock. After everything he went through, it sounds like he has forgiven the guy. This is something rarely seen on here. He is a bigger man than me, as I would not have done that. Good job man!!!! Kinda inspirational.

Wahoo ATV 04-27-2010 08:24 AM
Originally Posted by Skullkrusher (Post 3067578)
I never thought you would be able to collect and I still feel that way but if you really want to put to LDD, here is an idea that could work. Any debt over $600 that is forgiven is taxable as income. You could send him and the IRS a letter stating that the debt is forgiven and he would be taxed on $513,400. I know Dean12567 on this forum is a CPA maybe you should PM him or consult your accountant.
Not 100% sure, but I believe that is no longer the case. The Obama admin pushed for a change on that due to all the short sales.

Skullkrusher 04-27-2010 08:48 AM
Like I said, an accountant should be consulted but you are incorrect on both points. That rule was enacted by GWB admin. and it is only on debt related to primary residence.

strykerforce 05-16-2010 02:21 PM
Would really be interested in speaking with someone concerning Steven Wade Thomas. I could tell you some stories going back ten years, as I chase him and track him down from one coast to the nest, trying to rectify a hefty debt he has with me. Anyone know where he is now?

Jassman 05-16-2010 03:29 PM
Originally Posted by offshoredrillin (Post 3066280)
what he said, arrogance is and going to be the downfall of lots of people ;)
agreed...been a great case, learned a lot..

TEAMBAJA 05-16-2010 06:05 PM
Originally Posted by Pure Energy (Post 3067193)
I liked Tiger's apology better!
At least Tiger got laid a bunch of times by hot women. LDD just f*cked himself.:drink:


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