Posted by DigiNomad on 17th of Feb 2023 at 12:17 pm
Wondering about why inflation is so sticky and probably will
continue that way for longer than expected? My Brothers' 4 person
business just got over a hundred grand in a stimulus check from the
Federal Government because he didn't lay anyone off during the
pandemic. Imagine people that have 10 person businesses, etc and
spread those numbers out across the entire economy. Nutz! We're in
for a long slog.
*They don't need the money. He told me about it because he
was wondering where he should stick it (market or bonds).
tell him to put it somewhere safe and not to touch it for ten
years. The IRS will audit these claims and they have ten
years to do it for ERC (they extended the statue of limitations
from 3 to 10) If it has to be paid back then it will included stiff
penalties.
Posted by DigiNomad on 17th of Feb 2023 at 12:46 pm
It's not really shocking that new car prices are averaging 50K +
these days when the Gov is throwing these massive checks around for
a few years now, and not stopping.
Posted by diabloblanco on 17th of Feb 2023 at 12:59 pm
The Gov has no intention of fighting inflation , They
create it , lowers their debt obligation , inflates pensions
to zero , didn't they raise the minimum wage not to
long ago and then they inflated it away and then some.
Makes more people poor and more reliant on gov handouts
and for those handouts you'll have to do as your told
Posted by mschwand on 17th of Feb 2023 at 12:55 pm
For sure, and is anybody hearing what wage hike pressures from
demographic challenges (NA and China) along with
reshoring/nearshoring industries might do in the future? Zeihan was
guesstimating ~10% inflation by end of decade to reshore/nearshore,
but admits he's no CFA.
and i should add that it is taxable income when received.
however if it has to be paid back the statute of limitations
(3 yrs) will have closed for the business and an amended tax return
cannot be filed. what a country!
The ERTC I presume. Did he not file for this originally?
I'm still waiting on 12k supposedly, but can't get answers on when
or if I'll get it. We filed last year(2021)
Posted by DigiNomad on 17th of Feb 2023 at 12:40 pm
Yep. ERTC. I think this is the second round...but I'm not
positive on that. They asked me to be the CFO years ago, but I
respectfully declined. I prefer to focus on trading. Also, my ADV
brochure says I'm a portfolio manager, not a financial
planner...which is perfect because all the minutiae from the CFP
world has long since faded to a point where I know enough only to
recommend various specialists (CPA, JD, etc).
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Wondering about why inflation is
Posted by DigiNomad on 17th of Feb 2023 at 12:17 pm
Wondering about why inflation is so sticky and probably will continue that way for longer than expected? My Brothers' 4 person business just got over a hundred grand in a stimulus check from the Federal Government because he didn't lay anyone off during the pandemic. Imagine people that have 10 person businesses, etc and spread those numbers out across the entire economy. Nutz! We're in for a long slog.
*They don't need the money. He told me about it because he was wondering where he should stick it (market or bonds).
tell him to put it
Posted by morton7 on 17th of Feb 2023 at 12:39 pm
tell him to put it somewhere safe and not to touch it for ten years. The IRS will audit these claims and they have ten years to do it for ERC (they extended the statue of limitations from 3 to 10) If it has to be paid back then it will included stiff penalties.
Yeah, I actually suggested holding
Posted by DigiNomad on 17th of Feb 2023 at 12:44 pm
Yeah, I actually suggested holding it in cash at Interactive Brokers for the time being. Hard to beat 4 ish percent with full liquidity.
It's not really shocking that
Posted by DigiNomad on 17th of Feb 2023 at 12:46 pm
It's not really shocking that new car prices are averaging 50K + these days when the Gov is throwing these massive checks around for a few years now, and not stopping.
The Gov has no intention
Posted by diabloblanco on 17th of Feb 2023 at 12:59 pm
The Gov has no intention of fighting inflation , They create it , lowers their debt obligation , inflates pensions to zero , didn't they raise the minimum wage not to long ago and then they inflated it away and then some. Makes more people poor and more reliant on gov handouts and for those handouts you'll have to do as your told
sounds like what they did
Posted by morton7 on 17th of Feb 2023 at 01:38 pm
sounds like what they did after WWII after hugh debt, they inflated it away back then as well.
For sure, and is anybody
Posted by mschwand on 17th of Feb 2023 at 12:55 pm
For sure, and is anybody hearing what wage hike pressures from demographic challenges (NA and China) along with reshoring/nearshoring industries might do in the future? Zeihan was guesstimating ~10% inflation by end of decade to reshore/nearshore, but admits he's no CFA.
so true
Posted by morton7 on 17th of Feb 2023 at 12:47 pm
so true
and i should add that
Posted by morton7 on 17th of Feb 2023 at 12:43 pm
and i should add that it is taxable income when received. however if it has to be paid back the statute of limitations (3 yrs) will have closed for the business and an amended tax return cannot be filed. what a country!
The ERTC I presume. Did
Posted by mugsy on 17th of Feb 2023 at 12:34 pm
The ERTC I presume. Did he not file for this originally? I'm still waiting on 12k supposedly, but can't get answers on when or if I'll get it. We filed last year(2021)
Yep. ERTC. I think this
Posted by DigiNomad on 17th of Feb 2023 at 12:40 pm
Yep. ERTC. I think this is the second round...but I'm not positive on that. They asked me to be the CFO years ago, but I respectfully declined. I prefer to focus on trading. Also, my ADV brochure says I'm a portfolio manager, not a financial planner...which is perfect because all the minutiae from the CFP world has long since faded to a point where I know enough only to recommend various specialists (CPA, JD, etc).