31–40 of 69 posts
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Loophole doesn’t have a strict definition. Almost any deduction could be a loophole. Usually it is referring to anything that helps people with high incomes avoid paying taxes.
The 5th Amendment is a loophole that gives defendants due process.
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The New York Times headline uses the word “loophole.” It’s not appropriate to rewrite that headline simply because you don’t like it. If “loophole” were an incorrect choice of words it would not be in the headline. EDIT to add I understand moderation is a thankless job and thank you for doing it. But I disagree with this particular call.
HN title moderation is more consistent than it may appear. It all follows from the guideline: " Please use the original title, unless it is misleading or linkbait; don't editorialize. " ( https://news.ycombinator.com/newsguidelines.html ) Submissions should stick to the original title—submitting an article doesn't confer the right to change it to suit one's opinion. But we make exceptions for misleading titles and li…
Everyone keeps saying that moderation is a thankless job and I thank you out for it.
But I'd like to take this chance to thank you for the insights that you post. They give me an amazing insight to this teeming mass called humanity and help me see the 'humane' part of it despite everything to the contrary.
Classic New York Times. Explicit tax law = "loophole" if the NYT doesn't like the people who follow that particular explicit tax law.
It's not a loophole, it's a specific tax break for people cashing out of "small" businesses. ("small" means at the time you joined -- it can have grown huge since.) QSBS can save you a lot, but it can be a lot of work to file too. I ran up about $20k in accountant bills doing it on a complex deal. If you're selling founder or early-employee stock, ask your accountant if QSBS is right for you.
Earlier quoted context omitted.
The New York Times headline uses the word “loophole.” It’s not appropriate to rewrite that headline simply because you don’t like it. If “loophole” were an incorrect choice of words it would not be in the headline. EDIT to add I understand moderation is a thankless job and thank you for doing it. But I disagree with this particular call.
HN title moderation is more consistent than it may appear. It all follows from the guideline: " Please use the original title, unless it is misleading or linkbait; don't editorialize. " ( https://news.ycombinator.com/newsguidelines.html ) Submissions should stick to the original title—submitting an article doesn't confer the right to change it to suit one's opinion. But we make exceptions for misleading titles and li…
With stock options would the 5 year clock start only when the options are exercised, when they were granted, or when they vested?
Both the 50 M$ valuation rule and the 5 year clock start time apply when the stock is exercised. Note, however, that the "valuation" from a QSBS perspective is usually significantly less than the PR valuation you hear when a startup raises a round (which assumes all shares are valued at the new preferred share price)
I think it's the former, when you early exercise, but the language seems a bit confusing.
Yoda, why is the need for acceptance of self-rationalization so strong in this the thread?
Very useful trait to have, in a workforce.
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Progressive tax rates, the doubled standard deduction, child tax credit, EITC, and Medicaid expansion are all pretty sweet “loopholes” for those on the lower end of the AGI spectrum.
For me a loophole is something that requires a certain amount of work to benefit from. Much more than ticking in a box in a standard form.
To me a loophole is something where you have to perform some sort of otherwise unnecessary accounting procedure in order to qualify. For example, forming an S Corp to funnel contracting income through, solely for the purpose of avoiding the 3.8% payroll surtax.