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13 years ago @ Punch Debt In The Face - Taxes are funny! · 4 replies · +1 points

Obviously Ninja has never owed taxes at the end of the year, or they wouldn't be so funny!

Here is my story: One of my current clients, a federal government software contracting company, was targeted for an audit three years ago. The audit focused on two large accounts receiveable items. The IRS questioned the validity of the AR due to the fact it was aged nearly 200 days. They felt my client was recognizing income in a loss year, and intending to write off this balance in a taxable income year. When my client sat down with his accountant, attorney, and the IRS agents, they listened to the IRS's concerns. When it was their turn to speak, the accountant revealed that both AR items were invoiced to the Internal Revenue Service, and they attorney laid out their plan to sue for collection if the account wasn't satisifed in 30 days. As the accountant tells the story, it was the proudest moment of his audit life, and the fastest he has ever seen the IRS drop a case and get out!

13 years ago @ Punch Debt In The Face - Federal Employees make... · 0 replies · +1 points

Your odds of making $400,000 per year are higher in the private sector. To bring this home as base salary in government, you would be the President of the United States of America.

13 years ago @ Punch Debt In The Face - Wanna start a fight? T... · 0 replies · +1 points


This post is highlighted with hypocrisy. You are attacking the interpretation of data while poorly interpreting data.

Now, here is my poor interpretation of data:
Given your poor use of parenthesise, I would doubt you have achieved the shear writing carnage necessary to earn the title of "Doctor of Philosophy" in statistics. If I am wrong, you should consult your APA manual before "publishing" your professional conjectures. Surely someone with that level of scientific achievement would not be so narrow focused to believe there are only two answers - one right and one wrong.

Please challenge facts with facts. :) Thanks!

13 years ago @ Punch Debt In The Face - Wanna start a fight? T... · 0 replies · +1 points


Please provide references for the following:

"We both share similar spiritual beliefs; neither of our parents, or even grandparents, have been divorced; we did not move in together prior to marriage; and we’ve never participated in “adult” activities together. The odds are in our favor "

How did you come to this conclusion? I am not saying you are wrong, but this is a blog about finance (i.e. science), so I would expect your topics to be well researched and factual.

Thanks in advance!

13 years ago @ Punch Debt In The Face - Federal Employees make... · 0 replies · +1 points

Here is the main factor in this apparent inequality. While private sector employees have gone many years without adequate pay raises or increased benefits, federal (and state) employees recieve mandated COLA's and other predictable increases. Saddly, the top percentage of earners in the private sector have exponentially increased their income while keeping many others in inflationary losing positions. The real issue is that private sector employees are "hating" on government workers for having a better boss.

On the flip side, I do agree that a decent pay scale is not worth the moral issues, and many inspirational succubi which exist in government work.

FYI, if you want to make money, work with money. :) Just some advice from your friendly neighborhood banker.

13 years ago @ Punch Debt In The Face - I'm a friend whore · 0 replies · +1 points

1. Largest raise was from $52,500 to $74,000. Largest bonus was $38,000. No major changes with the money. Taxes and retirement accounts.
2. Yes.
3. Just keep evolving, we will tag along.
4. Playing video games, relaxing, guys nite out harassing local debutants etc... (loving the wife of course;)
5. Yes.

13 years ago @ Punch Debt In The Face - Who pays $4,000 for a ... · 0 replies · +1 points

Haha - I made that post before reading anyone elses comments. Guess who feels like the hideous whore of the blog now :)

13 years ago @ Punch Debt In The Face - Who pays $4,000 for a ... · 0 replies · +1 points


If you honestly are putting down a till death committment without the knowledge of physical compatability (adult and otherwise), I would say don't worry about the small stuff :) Go where you would like, spend what you would like. Pray that your only worry upon returning is rebuilding some savings.

Good Luck!

13 years ago @ Punch Debt In The Face - Do I have to change th... · 0 replies · +1 points

I am struggling with the same delima right now. We are carrying $25M in our ING Direct account, but I also have 3 small debts that could be wiped out with that.

My solution so far has been to snowball the payments on our debt, and if emergencies come up that would normally prevent us from doing that, we tap the "slush" fund.

That seems to be the perfect medium for us at the moment. Another issue is, our tax brackets have rocketed in the past 3 years, and we are no longer reaping the April 15th bonus check. Long live the middle class!

13 years ago @ Punch Debt In The Face - Hypothetical questions... · 0 replies · +1 points

We have three cars: I drive a 2006 Lexus IS250 AWD, the wife drives a 2003 Acura TL, and we have a 2000 BMW M Roadster Convertable.

The BMW and Lexus were bought new, and we will retire the remaining $9M in debt on the Lexus this year.

We will consider upgrading cars when one wears out, money wouldn't be determining factor. When we do upgrade, 20-30% of the price will come from our downpayment, and we will structure a 24-36 month repayment on the rest. I don't have a figure for what that would be since it's determined by our cash flow ability when the need arises.

Hypothetically, if I were given over $5MM; the first $250M would go to an Aston Martin DBS or Vanquish.