View Poll Results: What cha pulling per year?? I guess gross...it's just for fun..not a credit ap K?
Up to 100,000$ US
16
15.38%
100,001-200,000$US
28
26.92%
201,000-350,000$US
17
16.35%
350,001-500,000$US
10
9.62%
over 500,001$ US
33
31.73%
Voters: 104. You may not vote on this poll
Thought I would give it try...What the he)(*...what cha makin.
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PS Since you're in London until Sunday, I guess you realize you've now been steadily posting from 7 PM (London time) until your last one which was 6:40 AM (London time). Guess you don't need sleep over there.
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From: Mason Neck, VA
Originally Posted by NoviTec360
Dude, it's really in Windermere. Do you even know what it is? I really don’t live their now, were building our home and it should be completed by winter 06'. Their was a seizure on a 50,000sq unfinished house of a President from Morgan Stanley, the IRS put it up for auction and it was way under value for what 1 1/2 acres in Isleworth cost, we just got done with the demo of the house. Do you think that its wrong? Would you like the address are something? PS: Are you still in college @ FSU, or an alumni?
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Jakpro1, sorry for the highjack. Peter, thanks for getting my back. Now that his fraud has been confirmed (see below), the highjack is officially over.
https://mbworld.org/forums/off-topic/104272-novitec360-fraud.html
https://mbworld.org/forums/off-topic/104272-novitec360-fraud.html
Member
Joined: Jan 2005
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From: Living in Dallas
04 E55 & 04 Armada
Serious delusions of grandeur, novitech, you need to go to a good psychotherapist 
. I can recommend some if you want.. Good catch DerekFSU 
, this is crazy…now can we get back to talking about our E55’s!!
. I can recommend some if you want.. Good catch DerekFSU , this is crazy…now can we get back to talking about our E55’s!!
Banned
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From: Mason Neck, VA
holy s your the man. good kill, some may say why'd you care??? but when one strokes like that tool he just needed to be put in his place. i think its fun! anyway, i thout hes messpelling wus prette badd 2!
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Joined: Mar 2003
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From: Arizona
2015 C63 AMG 507
Back to the thread, We, my better half and I do a lot of the same things that Peter does. Real Estate is the only way to go in AZ. We lucked into a condo deal and have benefited from about 200k in "paper" price increases. We shall see when when it actually closes in 3rd quarter of '06. Will have to pay cap gains but still will have more than we started with. Also, refi'd to interest only loans on our primary and rental properties, and took out an equity line to buy a lot to build on in N. Scottsdale "Mirabel" Really nice masterplan. We are able to build for about $120/foot and should see huge equity when it is finished in early '07. I'll say it again, Real Estate!!!!! I am a General Sales manager and Associate Broker for a builder here in AZ and my wife sells new homes for a different builder, combined we fit into cat 3 but alone each are in cat 2.
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From: N.Attleboro,MA
Lamborghini Gallardo, Turbo, SLK 55, E350 4Matic, Xterra
Wow that was a good read.
I would fit around the 95k bracket. Not much in MA since housing like most of the country is out of controle. Plus its taxachussets
I would fit around the 95k bracket. Not much in MA since housing like most of the country is out of controle. Plus its taxachussets
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From: Tampa, Florida
06 SL65 / 97 993tt /11 Suburban/ 2012 GTR (AMG è la mia Famiglia la Bestia è la mia protezione)
Originally Posted by Noredline
Back to the thread, We, my better half and I do a lot of the same things that Peter does. Real Estate is the only way to go in AZ. We lucked into a condo deal and have benefited from about 200k in "paper" price increases. We shall see when when it actually closes in 3rd quarter of '06. Will have to pay cap gains but still will have more than we started with. Also, refi'd to interest only loans on our primary and rental properties, and took out an equity line to buy a lot to build on in N. Scottsdale "Mirabel" Really nice masterplan. We are able to build for about $120/foot and should see huge equity when it is finished in early '07. I'll say it again, Real Estate!!!!! I am a General Sales manager and Associate Broker for a builder here in AZ and my wife sells new homes for a different builder, combined we fit into cat 3 but alone each are in cat 2.
Bottomline is if you can own land and build on it then it can be an investment that will give solid returns. The money leasing seems to be such a waste now.
Senior Member
Joined: Oct 2004
Posts: 433
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From: Phoenix, AZ
2007 CL600
Originally Posted by AMGfan
Eagleeye...we live in Florida...could you imagine living in California? $500K isn't what it used to be, especially if you live in certain parts of the US.
Wouldn't trade it for the world.
Senior Member
Joined: Jan 2004
Posts: 422
Likes: 1
From: Florida
07 ML63; 05 E55 (sold)
Hey NoviTec360,
Here is a little info from the IRS web site. I'm sure you dont care since you are only 15 y.o., but I thought others would benefit, since your income tax post was pure bull@#$%. From the IRS list of the "dirty Dozen" tax fraud schemes.........
Offshore Transactions. Despite a crackdown on the practice by the IRS and state tax agencies, individuals continue to try to avoid U.S. taxes by illegally hiding income in offshore bank and brokerage accounts or using offshore credit cards, wire transfers, foreign trusts, employee leasing schemes, private annuities or life insurance to do so. The IRS, along with the tax agencies of U.S. states and possessions, continues to aggressively pursue taxpayers and promoters involved in such abusive transactions.
Here is a little info from the IRS web site. I'm sure you dont care since you are only 15 y.o., but I thought others would benefit, since your income tax post was pure bull@#$%. From the IRS list of the "dirty Dozen" tax fraud schemes.........
Offshore Transactions. Despite a crackdown on the practice by the IRS and state tax agencies, individuals continue to try to avoid U.S. taxes by illegally hiding income in offshore bank and brokerage accounts or using offshore credit cards, wire transfers, foreign trusts, employee leasing schemes, private annuities or life insurance to do so. The IRS, along with the tax agencies of U.S. states and possessions, continues to aggressively pursue taxpayers and promoters involved in such abusive transactions.
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From: NW Ohio
2008 335 vert, 2004 MDX
There was a physician in one of our buildings whose accountant told him this was all on the up and up. He sent his dough off shore (run by the accountant) and enjoyed his low tax hit. Well, as eagleeye points out above, this isn't legal. The IRS caught up with him and he's now basically ruined. In his defence, he argued that his accountant should be the one at fault. The IRS got both of them, and several other clients of the accountant too.
If it sounds too good to be true . . .
If it sounds too good to be true . . .
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From: Tampa, Florida
06 SL65 / 97 993tt /11 Suburban/ 2012 GTR (AMG è la mia Famiglia la Bestia è la mia protezione)
Originally Posted by xraymd
There was a physician in one of our buildings whose accountant told him this was all on the up and up. He sent his dough off shore (run by the accountant) and enjoyed his low tax hit. Well, as eagleeye points out above, this isn't legal. The IRS caught up with him and he's now basically ruined. In his defence, he argued that his accountant should be the one at fault. The IRS got both of them, and several other clients of the accountant too.
If it sounds too good to be true . . .
If it sounds too good to be true . . .
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From: Irvine, CA
07 M6, 05 Noble, 01 S4, Smart ForTwo
Considering that you can "own a benz" for the low low price of 299/month (c-coupe) its not that hard to survive on 95K, especially with a neg-am loan on your house. is there any savings left? hell no.
Im in lower cat. 3, not according to the IRS however. But my income comes in chunks. So it doesnt feel like i make 20K a month, sometimes 5-8K, sometimes 35K. etc. I also have 4 properties, so I have a huge nut to swallow, and cashflow seems high with rents coming in.
I'm single, 24, rent out some rooms to 2 chics I know, so instead of "family expenses" I have a positive cash flow from that aspect.. I can only imagine the way things would change if I had kids and a discerning wife.. but my hope is that we will have a dual income. and kids will wait..
In response to 500K not being so much, thats a rediculous statement. I'd be tickled pink if I pulled that. I'd have a nother 200K+ to blow/invest. That's a lot of buying power. I wouldn't need anything else. 2 million a year would feel much different. One day...
Im in lower cat. 3, not according to the IRS however. But my income comes in chunks. So it doesnt feel like i make 20K a month, sometimes 5-8K, sometimes 35K. etc. I also have 4 properties, so I have a huge nut to swallow, and cashflow seems high with rents coming in.
I'm single, 24, rent out some rooms to 2 chics I know, so instead of "family expenses" I have a positive cash flow from that aspect.. I can only imagine the way things would change if I had kids and a discerning wife.. but my hope is that we will have a dual income. and kids will wait..
In response to 500K not being so much, thats a rediculous statement. I'd be tickled pink if I pulled that. I'd have a nother 200K+ to blow/invest. That's a lot of buying power. I wouldn't need anything else. 2 million a year would feel much different. One day...
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From: Tampa, Florida
06 SL65 / 97 993tt /11 Suburban/ 2012 GTR (AMG è la mia Famiglia la Bestia è la mia protezione)
Originally Posted by Brav
Considering that you can "own a benz" for the low low price of 299/month (c-coupe) its not that hard to survive on 95K, especially with a neg-am loan on your house. is there any savings left? hell no.
Im in lower cat. 3, not according to the IRS however. But my income comes in chunks. So it doesnt feel like i make 20K a month, sometimes 5-8K, sometimes 35K. etc. I also have 4 properties, so I have a huge nut to swallow, and cashflow seems high with rents coming in.
I'm single, 24, rent out some rooms to 2 chics I know, so instead of "family expenses" I have a positive cash flow from that aspect.. I can only imagine the way things would change if I had kids and a discerning wife.. but my hope is that we will have a dual income. and kids will wait..
In response to 500K not being so much, thats a rediculous statement. I'd be tickled pink if I pulled that. I'd have a nother 200K+ to blow/invest. That's a lot of buying power. I wouldn't need anything else. 2 million a year would feel much different. One day...
Im in lower cat. 3, not according to the IRS however. But my income comes in chunks. So it doesnt feel like i make 20K a month, sometimes 5-8K, sometimes 35K. etc. I also have 4 properties, so I have a huge nut to swallow, and cashflow seems high with rents coming in.
I'm single, 24, rent out some rooms to 2 chics I know, so instead of "family expenses" I have a positive cash flow from that aspect.. I can only imagine the way things would change if I had kids and a discerning wife.. but my hope is that we will have a dual income. and kids will wait..
In response to 500K not being so much, thats a rediculous statement. I'd be tickled pink if I pulled that. I'd have a nother 200K+ to blow/invest. That's a lot of buying power. I wouldn't need anything else. 2 million a year would feel much different. One day...
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From: Mason Neck, VA
Originally Posted by BMWEATR
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From: strip bar in Oregon
211 E55(sold) & 80cc shifter kart
Originally Posted by Peter B
aw come on man! dont hate. i think its interesting so see whos doing what and many arent even commenting on the actual cash but those who do, no biggie. seems to me (and my personal experience) real estate investment has helped more than a few out while the offshore account bs has been laughed out of here. its good to know.
I own 3 homes and a 5 plex in a small college town. and laugh all the way to the bank in my E55!
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From: Orlando, FL
g
Originally Posted by eagleeye
Hey NoviTec360,
Here is a little info from the IRS web site. I'm sure you dont care since you are only 15 y.o., but I thought others would benefit, since your income tax post was pure bull@#$%. From the IRS list of the "dirty Dozen" tax fraud schemes.........
Offshore Transactions. Despite a crackdown on the practice by the IRS and state tax agencies, individuals continue to try to avoid U.S. taxes by illegally hiding income in offshore bank and brokerage accounts or using offshore credit cards, wire transfers, foreign trusts, employee leasing schemes, private annuities or life insurance to do so. The IRS, along with the tax agencies of U.S. states and possessions, continues to aggressively pursue taxpayers and promoters involved in such abusive transactions.
Here is a little info from the IRS web site. I'm sure you dont care since you are only 15 y.o., but I thought others would benefit, since your income tax post was pure bull@#$%. From the IRS list of the "dirty Dozen" tax fraud schemes.........
Offshore Transactions. Despite a crackdown on the practice by the IRS and state tax agencies, individuals continue to try to avoid U.S. taxes by illegally hiding income in offshore bank and brokerage accounts or using offshore credit cards, wire transfers, foreign trusts, employee leasing schemes, private annuities or life insurance to do so. The IRS, along with the tax agencies of U.S. states and possessions, continues to aggressively pursue taxpayers and promoters involved in such abusive transactions.
Member
Joined: Jun 2003
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From: California
Obsidian Black C43, Silver C43, Silver Carlsson E-class wagon, Brabus G-class
Thought I would give it try...What the he)(*...what cha makin.
This thread should be changed to What's your NET WORTH? In my opinion, net worth is a better indicator of someone's financial health.
It would also be interesting to know the income differences among different attainments of education levels (i.e.high school grad vs undergrad vs graduate vs PhD).
Another interesting statistics would be who is making more money now as adults, the jock or the nerd in high school (maybe even the popular or not so popular in high school)?
Thank goodness for my education in engineering and business, Real Estate values skyrocketting in California, demand for senior health care, high tech, and the ***** to take risks. Without them, I would still be driving a Nissan Pulsar. Ha, ha, ha!!!
My only worries are my kids not having the same drive to succeed because unlike me growing up, they'll pretty much be able to own mostly anything they want. But that's another topic of discussion.
It would also be interesting to know the income differences among different attainments of education levels (i.e.high school grad vs undergrad vs graduate vs PhD).
Another interesting statistics would be who is making more money now as adults, the jock or the nerd in high school (maybe even the popular or not so popular in high school)?
Thank goodness for my education in engineering and business, Real Estate values skyrocketting in California, demand for senior health care, high tech, and the ***** to take risks. Without them, I would still be driving a Nissan Pulsar. Ha, ha, ha!!!
My only worries are my kids not having the same drive to succeed because unlike me growing up, they'll pretty much be able to own mostly anything they want. But that's another topic of discussion.
