Good day, wankers! Whats your status?

just home from BBQ. need to lay down a little and change my pantssize.

Just got back from the Auto X. what a joke. Great course, great weather, not a great combination of tires. ES100's up front and RA1's on the back, can you say pa-looooow

I ended up not going autocrossing. Feeling kinda funny still

And now for something completely different:


I just identified a legal tax scheme, where i get my bonus in over the counter options

Instead of paying social security + taxes (which for let's say 2 grand, would leave me with 750 Nett cash)...

I could get them payed out as OTC options,
let's say the options cost 50 a piece, 2 grand would give me 40 of them..
Now here's the kicker... this setup does not require a social security deduction
Nor does it require a 50+ tax rate

The amount to be taxed, is 15% of the stock value, let's say the stock is worth 130 a pop
15% of 130 is 19.5
times 40 makes 780 "Taxable"
the tax on that is about 400 bucks

So i pay 400 on 2 grand , instead of paying 1300 on 2 grand.

Some things to consider :
- Taxman expects you will not exercise until you have em 1 year
- Stocks may drop
- Stocks may rise
- You don't pay any taxes when you cash in the options
- You have to pay the taxes from the gross salary , instead of from the bonus itself.
(although nothing prohibits a higher gross that mont, covering the amount due to the taxman)


Realistically, it defers the bonus 1 year
But at a seriously improved Gross to Nett ratio, and at a certain market related risk

Since obviously, if the stocks really tank, yer screwed


If the options drop, you can still sell the options

let's say 40 per (20% drop) option, that yields 1600 (still better result than regular taxation (2000+400=1600) vs (2000=750)
Break even would be if the options dropped to 18.75

In the current climate, i think the risk is reduced

unless i pick oddball stocks
or if the market craps out more, by a factor of 2 (in which case, frankly, it won't matter much as currency itself will be pretty much null and void)



Obviously, the stocks could rise over time
At which point the OTC's would be worth more as well...



couple that with the current market crap going on ... It might be fun.

Need to check this out a bit further, and talk to my boss about it..
He likes tax tricks as much as i do... :D

Or you could just be like me, I don't make enough money to bother sheltering any of it. I find it much easier

I don't even know how much money I have, not a clue.
I'm not rich, I just don't know.
The financial side of my life is not run by me but by others who are much better at it. (family)
A lot of people think that's weird. I don't. It is easy, stressfree.

Rick since you have 2 Porsches in the household, when i at the same time have little more then a box of leftover 944S parts.. I have to call BS on that.
Surely the make up you put on, gives you a return on investment :D

The whole point of me looking for a way to pay less taxes, is that i need to upgrade to "Active Porsche 911 Status".. preferably one that ain't a total POS like the last one i had..

I'de rather stuff money in my 911 budget, then in the tax man's grubby hands.
it's ridicioulous that for every 1k my boss want's to bonus me... i get... 375 in my hands after social security and taxes... it's daylight robbery...

Yup, theft comes in many forms.
BTW you forgot the MB too.

i don't like Merc's much, i tend to blatantly ignore em


gonna hit the sack, tomorrow another work day... gotta keep feeding the taxman

Night S
See ya in the morning

Sidney, dude you really missed a great autocross. It was a fun set up once again. The weather was perfect.

As we finished up the fun-runs the Swedish bikini team showed up with a 2010 GT3 and everyone got to drive several laps in the GT3. They were looking for a new team manager that had to be a teen-aged Porsche owner. They could only pay 80 grand a year with all expenses covered. The next stop was New Zeeland. They were going to some topless beach somewhere. You really should have been there! :D

Haha right Glenn....

I assume you read back and figured out why I was "sick"

Lightweight... :p

morning

Evening

you got that wrong man, the sun is coming up, so it must be morning.

Nope, plenty dark over here. Stars and everything.

I think the New World has a bug in it,
you better file a support case on that,
it's supposed to be light by now, like it is here in the Old world...

Good morning, lads! SmileWavy