Started By
Message
0
Posted on 1/13/18 at 10:18 am to AmericusDawg
quote:
Eta-I don't really live in an area that likes cheap tax cars.... I'm ten miles away in the woods
I'm close to Winder.....
Posted on 1/13/18 at 10:37 am to S1C EM
quote:
Does this mean you'd need a tax ID number as a business? Which in turn means you definitely have to claim the income. And how much would a surety bond run and what does it do?
You can have you wife "sell" them too. Doubles your amount to stay under threshold.
Posted on 1/13/18 at 10:38 am to lewis and herschel
quote:
Needs to be 5 year plan to cash out of Roth without penalty
Hmmm.....I thought what I was reading was suggesting 2 years, but I may be totally wrong. Either way, I doubt that will be my plan.
Posted on 1/13/18 at 10:38 am to B2fDawg2017
quote:
You can have you wife "sell" them too. Doubles your amount to stay under threshold.
That was on my mind, actually.
Posted on 1/13/18 at 10:39 am to grey
quote:
I had one bitcoin and 3 ethereum before the surge
I honestly have no clue how this works. How do you buy "an ethereum"?
Posted on 1/13/18 at 10:45 am to S1C EM
Posted on 1/13/18 at 10:49 am to S1C EM
Give it to me and I’ll invest no risk with high reward
Posted on 1/13/18 at 10:49 am to grey
quote:
I educate myself with cartoons I find on the internet.
Well, now I just feel dumber.
Okay, so it's $1,365 to buy a single "ether" right now? And if I buy one, what do I do with it? How do I know what "IT" is? How do I "cash it out"? DO I get some sort of dividend?
Posted on 1/13/18 at 11:07 am to S1C EM
Bit Coin lol
Posted on 1/13/18 at 11:15 am to S1C EM
Well, you're exchanging currency. The amount of Ether or BTC you own is a small percentage of a finite amount of it worldwide. You can buy/sell/exchange between crypto and $USD by using a wallet like Coinbase.
It's valuable because it's a decentralized currency, meaning if you were to buy something with it (Amazon and others might accept Bitcoin next year), your transactions don't go through a bank or other middle-men. It's faster, more secure, and more efficient than the US dollar. That's why it's been exploding in value.
Each of these currencies use different tech under the hood. Ethereum has better tech than bitcoin, pretty much.
It's still in the wild west phase, but we're seeing the emergence of the next big tech thing IMO (cryptocurrencies, blockchain).
I hope this helps. It's overwhelming. I don't fully understand it.
It's valuable because it's a decentralized currency, meaning if you were to buy something with it (Amazon and others might accept Bitcoin next year), your transactions don't go through a bank or other middle-men. It's faster, more secure, and more efficient than the US dollar. That's why it's been exploding in value.
Each of these currencies use different tech under the hood. Ethereum has better tech than bitcoin, pretty much.
It's still in the wild west phase, but we're seeing the emergence of the next big tech thing IMO (cryptocurrencies, blockchain).
I hope this helps. It's overwhelming. I don't fully understand it.
Posted on 1/13/18 at 11:28 am to grey
quote:
It's overwhelming. I don't fully understand it.
Kinda where I'm at, but I do sorta get it. Would be concerning because you could pretty much lose everything very quickly, though.
Also, not a fan of this little snippet from their website when you go to view wallet versions:
quote:
You are responsible for your own computer security. If your machine is compromised you will lose your ether, access to any contracts and possibly more.
Posted on 1/13/18 at 11:51 am to S1C EM
Welp, that would count me out.
Posted on 1/13/18 at 11:55 am to deeprig9
quote:
Welp, that would count me out.
You mean that little Ethereum legal blurb? That shite's for the birds if that is how it works. No way I'd put that kind of money into that kind of risk.
Posted on 1/13/18 at 12:12 pm to S1C EM
The crypto currency is off my radar. Ignorance is bliss I guess ??
I max out my 401k, and invest in real estate.
Why are you selling your rental??
I max out my 401k, and invest in real estate.
Why are you selling your rental??
Posted on 1/13/18 at 12:17 pm to AUGDawg
quote:
Why are you selling your rental??
Have some things I need to do and honestly, don't have the funds to handle major repairs that will come. Case in point, have some wood rot on the subfloor that we just found during inspection which was apparently caused by bad flashing on the back deck. Crap like that is stuff I just don't have time for. That and chasing rent.
This post was edited on 1/13/18 at 12:18 pm
Posted on 1/13/18 at 1:22 pm to deeprig9
quote:
If you haven’t maxed out both traditional ira’s and 401ks you can put it there and not be taxed but if you want the money in two years that’s not a good option.
Not bad advice. Don’t know OP’s financial situation, but maxing out Roth IRA with catchup contribution of $5,500 for 2017 and regular contribution of $5,500 for 2018 would also be an option. Roth gives you the flexibility to withdraw cash up to original contribution amount with no penalty. Can’t touch the gains though.
Posted on 1/13/18 at 1:32 pm to smelvis
And he’d be taxed on the money before putting it in the Roth. With the traditional or 401, he wouldn’t.
Don’t know his bracket but %25 off the top is going to take a long time to make back up in traditional investments.
Don’t know his bracket but %25 off the top is going to take a long time to make back up in traditional investments.
Posted on 1/13/18 at 1:33 pm to smelvis
quote:
Roth IRA with catchup contribution of $5,500 for 2017 and regular contribution of $5,500 for 2018 would also be an option. Roth gives you the flexibility to withdraw cash up to original contribution amount with no penalty.
What about what the previous poster said about it having a 5 year wait period?
Also, how long would I have to do the catch up for 2017?
Edit: Nevermind. Just found the wait period info. Definitely can't touch for 5 years.
This post was edited on 1/13/18 at 1:38 pm
Page 3 of 8
Latest Georgia News
Popular
Back to top
Follow SECRant for SEC Football News