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Reagan1k

Certifiably Surly
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Everything posted by Reagan1k

  1. God made axis to run from tigers, not Jack Frost. That sucks.
  2. Yeah- I guess I got a little overzealous in my description there. It’s just aggravating when you pay a good wage, provide a good benefit, and can’t get people to pony up for their own benefit. I understand the spirit of the rule- keeping employers from being the only ones who benefit from a plan, but in practice either can be a bitter pill to swallow. Hell, we already provide a match and have years where we still can’t get contribution levels up. Rant over....
  3. Yep- having contractors reclassified as an employees can be ugly. Get very clear guidance and follow it. What will really chap your ass is having employees, treating them as such and providing a benefit like a 401k. Then they don’t participate by deferring income. Owners defer the max, employees don’t participate enough and Owners get some of their deferral back along with a 1099 that’s basically a love note from the IRS saying- sorry- you can’t put away that much of your own money because your employees didn’t put away enough of their own either. You're then forced to live with higher taxes / less tax deferred savings, or making a safe harbor matching contribution to everyone’s account to avoid that, even if the employees don’t have any skin in the game. Not fair, but that’s what the discrimination test does.
  4. Couple of other quick points to file away. If/when you end up with employees, their level of participation (deferral)in a 401k (if you go that route) will to some degree dictate your level of participation. discrimination testing can be a bitch and even if you want to defer the max, you may get some kicked back out of the plan and taxed as income if your employees aren’t participating in a given year. (Contributions - not existing funds). The remedy is to “safe harbor” and make company contributions to everyone at a certain level that exempts your from the discrimination test, but that costs money. Bottom line- the more buy-in and deferrals you get from your employees, the more you can defer from salary up to the limit so keep that in mind as you hire and how you push the plan from an HR standpoint.
  5. Culture eats strategy for breakfast. Same with any CRM- if the input isn’t used to bring value other than being a whip, the best software is useless because those inputting the data resent the effort it takes.
  6. Other notes. Roth you already established would roll from ok’d company to a new separate Roth account- rollover Roth IRA if you want to call it that- keep that separate. Fees on a rollover IRA are minimal at most- it’s just a wrapper designating how it is treated for taxes. You’ll pay a small custodial feed to Schwab, Fidelity, whoever at most. Real fees will be contingent on trading costs and management fees of the actual investments you buy inside that wrapper. Once you have a good idea of how much income you’ll have and the cash flow created by your new venture- sit down with a pro and go over all the possible plans. Very different planning if you’ll have $10k-$25k to set aside annually vs. if you have bigger dollars that would otherwise be taxed as salary / corporate income. I’ve been involved in a venture that had two principals as the only employees and used a defined benefit plan (like the old pension plans) to sock away a fortune in a few years, well above traditional contribution limits any 401k or profit sharing plan would have allowed. Also investigate putting a spouse on the payroll as your 1st/only employee and look for additional contribution deductions there- a pro will see that clearly.
  7. Couple thoughts - may be able to circle back with more complete ideas later. You can roll an old 401k to a new 401k if you so choose after an employment change. Seldom done if going from company a to company b as an employee because you have higher fees and fewer options than a rollover IRA for the old 401k and then just starting new contributions in company b’s plan. your situation is different because you will be company B with a new qualified plan. You can roll your old 401k into whatever plan you establish and then make future contributions as well. That new plan may be a SEP-IRA, Solo 401k or other plan. Doesn’t really matter- a pro will show you advantages and disadvantages of each but regardless- you can roll the old funds in there once it is established. Now- another thought. You could also play a little game of tax rate arbitrage if you have excess cash (outside of 401k or IRA). If you anticipate 1st year income of the new entity will be well below anticipated future earnings due to ramp up and initial expenses, you might consider doing a Roth conversion of the old 401k. Roll it to a rollover IRA, then convert some or all to a Roth IRA - pay tax from outside savings at low rate due to reduced income in year one and maybe two and now that Roth is tax free when you presumably will be in a higher bracket. Assumes you have cash to fund startup and pay tax bill, and would project to be in higher tax bracket eventually in retirement than you are in that one or two years of down income while getting your solo venture established. Bottom line- you can a) do a standard rollover IRA b) roll the old 401k into a new 401k or SEP you establish or c) do the two step and convert the 401k into a Roth IRA and have some tax efficient income later. Projected income, number of employees (including possibly a spouse) etc.will be primary factors in what “new” plan you establish for your self employment.
  8. I may be in this same boat, but I can't log into my legacy Binance account. Says I have 3 password attempts left, and I've submitted for an email reset and nothing comes through. When I try and use the app - it blocks me due to being in US. Is that old wallet gone if I can't figure out the password on my own? I'm not even sure if there is anything left in it, but the above posts jogged my memory.
  9. They brought it and the 77/357 back a few years ago. Several options to choose from in both wood and synthetic.
  10. Not hard - just follow the rules and stay away from a "UPS Store" - Ship through real UPS center or from your corporates account. UPS Ammo rules
  11. If you are talking about the .44 carbine, that was probably built as a animal control weapon. I know that TPWD and other state's agencies had contracts years back for the Ruger 77/44 with an integrally suppressed barrel and I'm sure there were some semi-auto carbines made. That round with the proper load did suppress well, and the .44 packed enough punch for wardens to use to put down any size animal in urban settings. You can still get the 77/44 converted or find some of the old ones out on the market. To fine a semi-auto would be a unicorn and a must buy for me.
  12. Yeah.... it’s about as slick of a compact utility rifle as can be. They’re $800-$1200 at the auction houses now. A lot of nostalgic buying and also the renewed interest in pistol cartridge carbines. I had a chance to buy one that was pristine and still in the box alongside a 10/22 in 22mag which is quite rare, and let them slip through my fingers when I missed the auction. Still kicking myself.
  13. That reminds me of the 70's. Bunk house was ours October 1st through 1st weekend in January. All of October was spent cleaning that mess. Rest of the year it was for the cowboys/ranch hands who were all illegal. We finally convinced the owner to buy a trailer and move it up on the hill above us for the workers to use 365. That too was interesting. During hunting season on Saturday nights we'd hear a honking truck at the gate . Ten minutes later the old ranch truck driven by a cowboy would drive down from the trailer on top of the hill and load up 3-4 senoritas who had been waiting at the gate. Sunday afternoon, the cowboys would drive then back to the gate when that same truck came and honked.
  14. Those .44 Carbines have gotten PRICY!!! Wish I had one or 5.
  15. Was showing 0* around sunrise. Camera at the other big feeder pen has been iced over - Can't see shit, but temps correspond. Somebody asked how accurate I thought that was - My response was - don't care / don't want to find out.
  16. This little guy is hunkering down like all of TX.
  17. Full forgiveness on two companies from round 1. One of those met the criteria for round two so that application is in, approved by the bank, and waiting SBA funding.
  18. You could lease that in a heartbeat. Look for some low hanging fruit among friends, family, and business associates. That's a perfect size and spot for one large family group, or a small group of buddies. It would be a pain in the ass to just advertise and then cobble together 7-12 random guys, but if you had a deal where you have one point of contact for a family, business, or close knit group, it would be a peace of cake and you'd get very competitive rates.
  19. 1234
  20. Oh- and if you register for an account the GB, it gives you the ability to search past / closed auctions so you can see what stuff actually sold for. Much better pricing guide than just seeing what a current listing is. A lot of those current listings can be “make me sell it” prices that just automatically re-list until some gets desperate or dumb. Doesn’t mean it’s a real market price one could expect. Look at recently sold models with multiple bids for a better gauge.
  21. Gunbroker, texasguntrader, gunsamerica. Or post on here and just specify FFL transfers only to avoid being held up in a Denny’s parking lot.
  22. Plenty of these in the coming days- not so much on what you actually typed. Sorry.
  23. Point well taken.
  24. It'll be a tough road to bring them back, but I think CZ has a good chance to do it. They're a gun company, and not a hedge fund or similar holding company. We've all seen how well those operations pan out.
  25. Long rumored, the CZ acquisition of Colt is done. Probably no better fit for Colt, as CZ is intent on manufacturing quality guns, and will take that same focus to Colt. Hopefully, they'll restore some of the shine that Colt products had lost. Along with the Dan Wesson brand and their own handguns, CZ now has an interesting and historical portfolio for sure.
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