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California To Hit Startup Founders with Big Retroactive Tax Bills

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291–300 of 318 posts

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#291

Earlier quoted context omitted.

A lack of institutionalized corruption and organized crime?

The USA has plenty of institutionalized corruption (see: Washington D.C.) and organized crime too, so how much worse can Mexico be?

http://www.transparency.org/cpi2012/results

United States ranked 19th. Mexico ranked 105th. That's how much worse.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#292
I also found this section interesting...and I didn't know about it before:

"Per amendments in the new “fiscal cliff” law, if you started or invested in a QSB between September 28, 2010 and January 1, 2013 and ultimately sell stock under the federal QSB provisions, you’ll pay no federal capital gains tax, and in some states, no state taxes."

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#293
post #221

Earlier quoted context omitted.

Everything your business owns? I've never paid a state tax when living in Texas (except for sales taxes), but I don't own land there.

We are paying taxes on all our assets annually.

Probably a good idea to look for a new CPA, then.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#294
post #97

Earlier quoted context omitted.

shouldn't that be "we take more money" ?

Well, to be fair, they did let people vote on it, so i like to present it as if it was a request. But yes, you are technically correct :)

Well just a personnel preference, but I always go for accuracy before manners. It may make people uncomfortable but at least they WILL know why

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#295
post #194
post #79

Earlier quoted context omitted.

Perhaps defined-benefit retirement plans should not be in the public sector since they haven't been in the vast majority of the private sector for quite some time.

It completely baffles me how any reasonable person could look at the retirement and health benefits situation in our country and come to the conclusion that our problem is being too generous to the working class. Yes, the private sector has been much more effective than the public sector in collectively diminishing workers' wages and benefits in recent years. The logical conclusion is not that the public sector shoul…

It's not so much a wage thing, but companies that continue to act recklessly with their money typically go out of business. Governments and companies propped up by governments simply print more money and attempt to take more from their populace. There are simply no consequences for repeated poor actions.

I am looking out my window now at a city project to build a park that is maybe 25 yards wide and 75 yards long. The property sits between a private car lot and an office building with no nearby parking, so I'll be surprised if I ever see anyone use it. That of of course assumes it is ever finished. It has been under construction for just over a year and still looks nowhere near complete. We joked a couple months ago while we watched workers move dirt from one pile to another and back again over the course of a month.

Now of course this is a small probably fix.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#296
post #286

Earlier quoted context omitted.

Depends how long ago you were here, but we've been seeing tax rates fall pretty consistently for a decade.

Add it all depends on what state/provinces you're comparing. I would fathom to guess that the lowest in Canada vs. the highest in the US isn't all that different, especially if you don't take advantage of country specific deductions.

Well, for example, Albertans pay less tax (federal and provincial combined) than Californians, but more than Washingtonians (who pay no tax, but also have to pay for their own healthcare). Keep in mind, raw salaries tend to be higher in Canada, as is cost of living. It'd be pretty complicated to actually sit down and puzzle out real take-home wages as compared to PPP, but I doubt there'd be a massive difference.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#297

Earlier quoted context omitted.

"Halo is being written here" Some of Microsoft's game studios may be based there, but I believe this is not necessarily true for Halo. 343 Industries is based in Kirkland. https://en.wikipedia.org/wiki/343_Industries

Sorry, I understood it wrong. It's being referred to as "the next Halo", which is kinda silly.

Ah neat!

http://www.joystiq.com/2012/12/02/microsoft-vancouver-is-now...

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#298

Earlier quoted context omitted.

Only after doing things such as threatening to cut 300 million from education unless folks raised taxes (retroactively as well). If your method of balancing the budget is always asking for more money, you haven't really balanced the budget. What are you going to do in a few years when those tax hikes expire, and you suddenly lose the same amount of revenue? I look forward to a few years when we begin to hear the clai…

As for the surplus claims: Of course the guy who supported the ballot initiative is going to say it's going to run a surplus. The independent Legislative Analyst's Office, which had previously said Brown's budget would have had a $1.9 billion shortfall in November, now says that it is roughly in balance due to changes in income tax: http://lao.ca.gov/reports/2013/bud/budget-overview/budget-ov... If your method of bal…

> The independent Legislative Analyst's Office,

I have no knowledge of the LAO, but the federal CBO (which I believe has a similar function, and is supposedly similarly independent) continuously makes projections that are worthless.

One of the reasons for this is that their mandate requires them to assume the current taxation regime; which means that whenever you do tax cuts (e.g. Bush), you do them "temporarily", which means that CBO estimates will necessarily assume they expire. Then you extend them, and -- tada, CBO is never right regardless of how well they do their work.

Politicians hacking the rules they set themselves. If it wasn't sad, I'd say it was entertaining.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#299
post #194

Earlier quoted context omitted.

It completely baffles me how any reasonable person could look at the retirement and health benefits situation in our country and come to the conclusion that our problem is being too generous to the working class. Yes, the private sector has been much more effective than the public sector in collectively diminishing workers' wages and benefits in recent years. The logical conclusion is not that the public sector shoul…

In case you didn't realize it, that costs the states money, and money is what states don't have.

In case you didn't realize it, tax rates closer on par with other developed countries are a perfect solution to that problem.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#300
post #294

Earlier quoted context omitted.

Well, to be fair, they did let people vote on it, so i like to present it as if it was a request. But yes, you are technically correct :)

Well just a personnel preference, but I always go for accuracy before manners. It may make people uncomfortable but at least they WILL know why

Right on!

Unfortunately, my local campaign for renaming "leaders" to "rulers" has about as much success as RMS' re-acronyming DRM to "digital restriction management". Actually, even less than that.

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