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Put The Women And Children To Bed!! My New Car!!

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Old 01-06-2005, 08:35 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by masher44
Capital Gains on Real Estate... if you own it for more than 2 years( soon to be 1 year).... and sell it for a profit... no capital gains...
i thought you had to use it for your personal residence for at least two years? does that apply to all properties? commercial? undeveloped?
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Old 01-06-2005, 08:37 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by lilldeauce
The funniest thing about money is once you start making it you want more, and at this time in your life if you can save some of it the end result is unbeliveable. it compounds so fast, the average person could never imagine it. The other problem with making money is MR TAX MAN PAYS ME A VISIT EVERY YEAR. Thats right I've been audited the last 3 years.


I work 6 days a week 8am-8pm
I take one week off in summer
I take 3 days off in december for holidays
I still love getting out of bed every morning.
Make it now baby... I spent too much when I was younger... 33 now and wish I had all that booze, whorin' and poker money back!
Now I work just to make back what I spent... oh well.... how much was that Outerlimits, Lambo and those two HO's????
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Old 01-06-2005, 08:40 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by Sean H
i thought you had to use it for your personal residence for at least two years? does that apply to all properties? commercial? undeveloped?
It is a little complicated... but a good tax man will show you the light... technically you have to show alot of things... you being a builder by profession puts you at a slight disadvantage but there are some great shelters if your guy can get creative....

PM me for examples.... big bro might be listening
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Old 01-06-2005, 08:44 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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i am sending the IRS to your house....

OK, I live on LOTO , have a new house with dirt all over the back yard, a fake Skater and a kit car Fiero 360 rag top.....
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Old 01-06-2005, 08:51 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by lilldeauce
15 years old made $820 cleaning cars (the whole yaer)
16 years old made $3600 thought I was a rock star
17 years old made $4400 and i was the man
18 years old made $4500 and moved out of the house (not the man anymore)
19 years old made $19000 ramen noodels, p&j sand. Broke
20 years old lost $45,000 of the banks money I lost alot of weight that year
21 years old made $90000 I was up and running
22 years old made $150,000 and saved every penny
23 years old made $275000 and saved every penny
24 years old mad $770000 and decided I should go back into the poor house
25 years old made $2,100,000 This was the turning point
26 years old made $7,220,000 Very happy
27 years old made $17,000,000 and proud of it..

All of these #'s are pre-tax of course. Do you guys get the letter from social security each year telling you how much income you paid tax on? I love getting that letter, the guy that writes that must think it's a mistake.
i dug out my SS letter to see how i compared....



i don't have a 17M year in there but happy still..... i guess the enzo will wait until i do...


i don't owe nobody nothing and plan on keeping it that way (besides using borrowed money to make investments..... money is to cheap not to use it and it won't be cheap for long.....)

Last edited by Sean H; 01-06-2005 at 08:54 PM.
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Old 01-06-2005, 08:52 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by masher44
OK, I live on LOTO , have a new house with dirt all over the back yard, a fake Skater and a kit car Fiero 360 rag top.....

i don't live at LOTO, i squated a house there, you be surprised how many people don't use their houses and you can just go live in them....
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Old 01-06-2005, 08:53 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

Quote:
Originally Posted by masher44
It is a little complicated... but a good tax man will show you the light... technically you have to show alot of things... you being a builder by profession puts you at a slight disadvantage but there are some great shelters if your guy can get creative....

PM me for examples.... big bro might be listening

oh a good tax man..... you mean the guy i meet behind the bar isn't any good....
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Old 01-06-2005, 09:05 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

Lilldeauce, you have tio be one heck of a salesman to get into a dealership at 20 with no $. I have signed many dealers and have never signed on a paragraph 3rd under 21 and with no $ to boot! Great story
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Old 01-06-2005, 09:11 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by masher44
OK, I live on LOTO , have a new house with dirt all over the back yard, a fake Skater and a kit car Fiero 360 rag top.....

don't forget the chopper vespa....
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Old 01-06-2005, 09:12 PM
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Default Re: Put The Women And Children To Bed!! My New Car!!

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Originally Posted by Sean H
i took it down after comparing it to a guy making 7 figures..... i guess its back to work for me....

hyper does my taxes and investments..... he told me to go heavy into watches...

Yup... we should open up a Shop

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Easily we can hit 18 million a year and shut everyone up!
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