Uncle Ernie’s Place

[Fatfatboy]

hacksaw wrote

lol.
Well . I think the Beatles may have been singing about UK taxman.
Anyway people in your tax bracket are those tge democrats call to pay their fair share.

Oh, I’ve paid my share and then some. Small business gets hosed.
I hope Trump and crew can find away to fix it.

Last year someone contacted me about acquire my business. Started looking into it. The tax man would take 57% of the sale because we started it with sweat equity. The only way around it is if I invested into another business.
I’d rather close it down than give them sons of motherless goats another piece of my back.

[hacksaw]

That’s Mo taxes?

[Fatfatboy]

Nope. Federal.

[hacksaw]

You need a new accountant

[Fatfatboy]

We use a corp. CPA firm that knows and follows the rules.
The rules keep changing, constantly.
The way the rules are now the tax man gets 29% off the top then they tax me personally 37% for annual income for going over $1m from the sale because that sale funds is considered income. This stands through 2025.

A few years ago we would have only paid about half of what it is now.

If you know of a an accountant that knows away around it please, please send me his contact info. I’d pay his travel and expenses and give you an Indian or panhead of your choice. Tax free.

[hacksaw]

lol. I could given my daughter’s email but she is going to want the bike.
She works for a firm called CLA.
Might be more regional than getting into Mo.
Big company though .
Before that she interned with the biggest international accounting and bizz  management firms internationally.
Cant think of the name of it . Brain is dying from watching too many movies instead of being a participant! lol!

Man those bikes are beauties.
Thst Pan is an electra glide ! What’s beauty .
101 scout?  The original super bike.

By the way, WTT announced the 2025 auction is for another knucklehead . Damn.
Tickets are available as I type!

[motogrady]

Fatfatboy wrote

We use a corp. CPA firm that knows and follows the rules.
The rules keep changing, constantly.
The way the rules are now the tax man gets 29% off the top then they tax me personally 37% for annual income for going over $1m from the sale because that sale funds is considered income. This stands through 2025.

A few years ago we would have only paid about half of what it is now.

If you know of a an accountant that knows away around it please, please send me his contact info. I’d pay his travel and expenses and give you an Indian or panhead of your choice. Tax free.

Holy crap.

I wonder if you could write off a road racing team.
Go after a Moto America Championship.
2 bikes, a van, a rider, a mechanic and manager.  
Plaster your glazing business ads all over the bikes, leathers and van.
All in the name of advertising.
A business expense.

I wonder, would it just lower the profit of the company,
or, would they look at it like buying TV ads
or a few new trucks?

Just for giggles Fatfat, ask the CPA how that works maybe.

[Fatfatboy]

motogrady wrote

Holy crap.

I wonder if you could write off a road racing team.
Go after a Moto America Championship.
2 bikes, a van, a rider, a mechanic and manager.  
Plaster your glazing business ads all over the bikes, leathers and van.
All in the name of advertising.
A business expense.

I wonder, would it just lower the profit of the company,
or, would they look at it like buying TV ads
or a few new trucks?

Just for giggles Fatfat, ask the CPA how that works maybe.

You’re on the right path, Grady. I questioned the CPA what is the get around. Big business sells off their businesses or portions all the time. How do they get around it. Investing again was his answer. Id have to put the cash into another business.
I wanted to sell, retire, build a nice garage next to the house and spend my time tinkering on old bikes and cars.

Since the business is worth more than I could spend doing that I figured I could store the leftover cash for future purchases. That’s a no. I also found out a garage next to my house doesn’t count because it’s not on commercial property.
So I think investing in commercial property would be the way to go. Buy a building or two, lease them out except a small portion for my playground.

The road racing team could be fun but I know absolutely zilch about that so I could see me burning my retirement up pretty quick.
All I know is glazing so I just figured if I’m going to have to run a business I might as well keep running the one that I have been running for 30 years.
I have just started looking into employee ownership. A lot of companies are going this route to avoid the tax wack job. It keeps the company going and all the folks that helped build the company a future.

I’m 57 years old with too many health issues so I’m starting to look for an exit before I exit stage left.

[hacksaw]

That's crazy  . He did claims a want to retire. Making himself responsible for riders and support staff certainly isn’t retiring . Insurance alone would kill him . Without major sponsors for bikes and parts , that’s insane.
And yiu don’t get a tax write off for a hobby. You could have to show some profit at some point to be viable.

Tinkering on bikes is a great retirement thing.
But as soon as it becomes a bizz it’s no longer the fun it was.
Commercial real estate may
Work . It has for president Trump. lol
But really, retirement tinkering is a matter of scale.
Unless one is Jay Leno it makes no sense to expand one’s garage to hold bikes you will never get around to doing anything with.
And don’t ask me how I know. !!!!!
Now unless one wants to open a museum that is.
Maybe commercial real estate where renters pay for your museum space and you can LLC the museum as a buzz that buys and sells motorcycles for profit .
My wife’s “mansion house” in the Filipines is funded by rental units. Doctors and a dentist etc.
Allthough I need to get back there and reclaim my garage!

Perhaps I never cared enuff for money to work on my hobby to the point it’s no fun .
Thats why I just got rid of a shitload of swap meet stuff. I would rather go see my kids play ball then drag stuff to a swap meet . I do attend a couple. But the scope is limited enuff to still be fun.
I certainly know money  means more to many people not named hacksaw . My wife for one. Thats fine. Except I can’t get her to retire while I am still at least half able bodied. Can’t blame her since she is only 50. But I retired at 55. I would suggest everyone should. lol.

[Fatfatboy]

I guess winter is settling in in Missouri

[Fatfatboy]

I have seen photos of Elvis on bikes. This is the first one I’ve seen him kicking one to life.

[hacksaw]

K model . He had no choice to kick it if he wanted to ride it. His later HD may have been Electra Glides.so of course he wouldn’t be kicking it .he did  have kick start triumphs.

[hacksaw]

Nice property and sweet hemlocks.

I absolutely hate white vinyl fencing.
Very popular around here. Especially stockade .
Makes my skin crawl .
Actually I am sorry to use the word hate.i have been on an anti hate binge the last year or so.
So let me rephrase. I dislike white vinyl fence immensely .
It’s such an unnatural product . And the sun off them blares my eyes bad.
The real irksome deal with it , it just never ages . A wood fence will show history as it ages. Even if repainted often .
So much more organic. Around here people have a nice 17-1800’s house and surround it with plastic fencing.
No soul. Hard and unnatural. The UJM of fencing. UGH !

[Fatfatboy]

Thanks i like it. It’s really what brought me to this spot.
Less than 2 miles to work, quiet and somewhat secluded.
The area west and northwest of my property used to be all woods but someone cleared it out before I bought it which allowed noise from the highway north of us to come through.
Those evergreens are actually green giant arborvitae’s. The snow makes them look like hemlocks.
I planted 20 of them on the property line to block the highway noise. They were only 3 foot tall but they grow 2-3 feet per year and can grow as high as 50’.
I hope they will block the highway noise.

Hate is a strong word for fencing. I really don’t like fences at all. It’s only there because I terraced the front yard to take the cliff out of it and installed a couple retaining walls. The lower one is around 4-5’ tall. The top wall is 7’ tall so I had to put fence up for fall protection. Plus the dogs like it better than being on a leash.
I did vinyl because I dislike painting or staining more than I dislike vinyl fencing.
I dislike vinyl siding too but tan siding is what I put on my house.
Brick cost a whole lot more and takes longer. Hardy board has to be painted.
I built as low maintenance as I could afford at the time.
Sometimes you just have to compromise.

You can’t always get what you want.
But if you try sometime you’ll find you get what you need.

[m143]

Way back in 1997.
Mass BIA show. Partrige Hollow Campground.
Two 1970 TR6 Triumphs.
My buddy Tony's unrestored original 9 point bike,
and my Bitsa.

[hacksaw]

Not criticizing your need for the fence .
As far as vinyl fencing goes, I got 3 chainsaws.
I don’t paint my fences. Perhaps I would if it was in the front. I don’t mind painting fence, but mine is stockade so now I just leave it . If it falls a part I replace the panels.
I had those green giants on the too if part of my hill lot line. The grew great for 10 years . Then all but one died.

I actually like brushing stain and having it soak into the wood. Just makes me feel connected . Connected to what dunno lol.
Other than that I am just not a fan of plastic. Especially on motorcycles.

[hacksaw]

And most augmented breasts