OT: Stock and Investment Talk
- Thread starter RU-05
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Yes. A C Corp is generally not a pass through.
The Trump Crime Syndicate (not a political assertion since he’s been a known fraud for decades) is basically all pass throughs.
C Corps are NEVER pass throughs. Single Member LLCs are considered "disregarded entities" and file on their 1040's like they're a sole proprietorship. No passthrough involved.
And what does an obvious political assertion (not? bullshit) have to do with millions of small to medium businesses?
Yes. To keep it simple…an 1120 filer cannot be a pass through.
I don’t mind the pedantic if it is in the service of clarification.
More record highs today. Life is Good!
Plenty of fraud occurs through relatively small partnership entities. Sorry that you’re for more opacity in the service of fraudsters not paying taxes.
IRS has the opportunity to audit small partnership entities, and always has. And the returns themselves, rather than some BOI bureaucratic machination, provide the only information that is necessary for such an audit. In fact, with respect to a closely held C corporation, all the information can be found in the return. That is, all but some one's driver's license number. This is just Big Brother demanding information they already have or don't need. Opacity has nothing to do with it.
OK Mr. Weisselberg. You’ve made your point, dude. But… In general the IRS is not given enough information to perform even proper reviews let alone full audits. And the most fraud is perpetrated by the mega wealthy often through dozens of partnership entities that they may have but a relatively small ownership percentage in.
In other news, MSFT has melted up 5% this week as part of the great Mag 7 re-migration. Stonks gonna stonk!
Fast Money talking about the XLV space and UNH and potential future regulatory issues and headline risk and increased payouts vs denials of coverage.
UNH back down around 550 support area where it broke out from a little while back. I’m skeptical if it’ll hold but we’ll see.
UNH back down around 550 support area where it broke out from a little while back. I’m skeptical if it’ll hold but we’ll see.
Your biggest holdings have a market cap of ~$3B and ~$50million? Not sure if I would go with that! I don't know much about their fundamentals, but technically both stocks look primed to break out. Good luck on your endeavors.
Health insurance reform should happen…yesterday.
There’s no reason or need for the SP500 to have any health insurers in it (one of the largest component members of the Dow is UHC no less). They’ve proven that they need much heavier regulation…while MAGAs are distracted and complain about the cost of eggs during a bird flu epidemic.🤣
Can’t fix stupid.🏌🏻♂️
You should not have sold PLTR. I would have suggested selling upside calls.
This thread does a great job of being pretty apolitical by this boards standards. Try to join the club
The IRS can request information as part of the audit process. Better IMHO than demanding information from literally millions of small businesses who are compliment.
Ug, that would have been a good idea! Didn't think about that. Lesson learned. I haven't sold calls before but it makes a lot of sense.
I'm tracking POET and saw it pop above $5 today. Hoping it gets back to the level you mentioned yesterday.
Are you saying Obamacare is a failure? Maybe the left should have fixed healthcare. Dems are more interested in the color of job applicant, helping illegals and protesting cops.
I sold pltr in the low 20s to get more IREN..😂, 2025 IREN will outperform..imo
Obamacare is better than having no Obamacare. The populace obviously is too dumb to even agree on good healthcare policy let alone demand drastic changes.
I’m an independent and hate the far left loonies as much as I hate the MAGA fake patriots…but nice try painting a false narrative.🙄
Go MSFT! Stonks gonna stonk!
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RIVN on a tear since getting whacked on earnings. I was about to jump back in after the VW announcement but dragged my feet. Although I ended up buying Reddit that day so it’s worked out very well.
Looks like rated a buy at Benchmark. They say they will be one of the EV winners over the next 10 years.
I trimmed. If it drips back ill add.
Saw PLTR had a similar move today.
RDDT too.
Signs of a shott term top?
I see it more as profit taking then tax selling this late in a big up year.
PLTR and RDDT both my high fliers this morning only to flop. I figure profit taking as the news around both are very bullish.
Potential consolidation in the staples space. New regulatory environment coming up might make some of these deals easier to get through.
Any thoughts on IBM? Some buzz on the old gal that it's a sleeper AI play.
I really like IBM for both AI and quantum computing. Late summer/early fall I did a ton of research on quantum computing figuring it was the next frontier - I didn’t make any moves and some of those stocks went up 5X. I still think there is tons of growth in the quantum computing space.
Google says its new quantum chip is way faster than the world's most powerful supercomputer
A new, state-of-the-art quantum chip from Google (GOOGL) has cracked the code on an almost three-decade-long problem, according to the company.
Brought it around March-May when it went down my average cost $201, can’t sell it since it in my taxable account ( actually my mom) don’t want the capital gain. I heard it a good buy relative to the AI play.
T2K, you should have your dad put some of your inheritance in a brokerage account so gains will step up when it receive it. Or I read an article you can open an account in his name and fund it so you can take advantage of the step up.
Looks like it broke out from a long term resistance a few months ago....seems there was retest and hold which is good sign as well.
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