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!
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
tell him to put it
Wondering about why inflation is so sticky and probably will ...
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!