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AOC...Tax Returns

M

Mntneer

Sophomore
Oct 7, 2001
10,192
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DvlDog4WVU said:
I fvcked a couple of bartenders, they got more than just the tip.
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W

WVUBRU

Freshman
Aug 7, 2001
24,731
62
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tjebarr said:
If Gifts Are Not Income, Why Tax Gratuities? - Palisades Hudson Financial Group
https://www.palisadeshudson.com/2013/09/if-gifts-are-not-income-why-tax-gratuities/
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Gifts are taxable over a certain amount. But true, gifts are not income by definition. Tips are.

Just a little bit of info from my perspective. I spent 5 years (2002-2007) as a Director of Finance for a very successful public chain restaurant company that had 3 brands operating throughout the country. Our high end chain restaurant concept, the support staff made very good livings with only earning Cash Wages from the company as is the law. Many in each location made over 6 figures and the average throughout the concept was around $60k. And this was on 40 hour work weeks 95% of the time.

Tips are income and should be taxed. Restaurant employees bust their asses and it is hard work and most barely get by. But there are a lot of industries in which that is the case. Let's have a fair progressive tax system but suggesting this sector of employees shouldn't be tax is not something one can argue very well with those that have facts on their side.

Edit: Direct Wages is the proper term in my commentary, not cash wages.
 
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P

Pospecteer

All-Conference
Dec 8, 2006
36,502
3,161
113
tjebarr said:
have u ever tended bar, waited tables. ? it's a *****. those doing it deserve be have untaxed tips. taxing tips is ********
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Have you read any of my posts? In high school and college I worked at funeral homes, amusement parks, lifeguarded, certified lifeguards (had my own swim classes where I charged money) worked on a pipeline and also fast food. None of those jobs generated tips.

My kids have all worked for tips and I agree with you, but the same people who are skirting the laws (owners) get cheap labor and the only way they make it worthwhile is to look the other way when it comes to tips.

The left wants to go with a living wage, $15.00 an hour, if this happens, most hospitality employees will make less money then they currently make because the owners will have to pay all of the taxes and not just enough to balance their books to keep their income high enough to keep their line of credit open.
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
55,556
40
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Pospecteer said:
My kids have all worked for tips and I agree with you, but the same people who are skirting the laws (owners) get cheap labor and the only way they make it worthwhile is to look the other way when it comes to tips.
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If your kids would file Form 4137 (like they're supposed to do) the form will alert the IRS to their owners practices. Hope they didn't learn that it's easier to just shrug and whine about the ways of the world.
 
P

Pospecteer

All-Conference
Dec 8, 2006
36,502
3,161
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WVUCOOPER said:
If your kids would file Form 4137 (like they're supposed to do) the form will alert the IRS to their owners practices. Hope they didn't learn that it's easier to just shrug and whine about the ways of the world.
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FU! Glad you never had kids!
 
dave

dave

Senior
May 29, 2001
60,601
816
113
Pospecteer said:
She spent some time talking about Trumps tax returns and understating how he devalued his properties to lessen his tax burden, and this is fair game, but would she not be guilty of the same thing?
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How would she know how he values his assets on his taxes? @WVUCOOPER is that not something the IRS would consider during an audit?
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
55,556
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dave said:
How would she know how he values his assets on his taxes? @WVUCOOPER is that not something the IRS would consider during an audit?
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If (a pretty big IF at this point) he was under audit, but I think there are multiple tax jurisdictions/accusations/nonsense being thrown around - ITT and yesterday's hearing.

Let's say, and I think this is an example, Trump was valuing his golf course for property taxes much less than it is listed on his tax return. Is that tax fraud? IDK, but shame on the city/county/state that just accepts the value a business puts on an asset. And that is NOT a federal issue.

TL;DR - I would think Trump is in FAR greater danger of having committed bank or insurance fraud, over tax fraud. And that is not to say that he has committed any fraud, though I inf that to be very unlikely. Per what I heard yesterday.
 
P

Pospecteer

All-Conference
Dec 8, 2006
36,502
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dave said:
How would she know how he values his assets on his taxes? @WVUCOOPER is that not something the IRS would consider during an audit?
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The real question is has she filed form Form 4137? I find it funny that my 15 year old should have to file a form but a US Congresswomen is exempt from doing the same. What a crazy world we live in.
 
P

Pospecteer

All-Conference
Dec 8, 2006
36,502
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WVUCOOPER said:
Moved on to the pedo well quickly. Someone is mad.
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Actually, I am pissed! I brought my kids into this discussion stating that obvious, and I made that mistake. But for you to keep going after them is just wrong. I rarely use insults in life and in this forum, I NEVER attack a person's family, let alone their kids. You do it on a routine basis, I guess I am too thin skinned to be here and will go back to the Blue Lot where I belong, at least they have some rules.
 
W

WVUBRU

Freshman
Aug 7, 2001
24,731
62
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Pospecteer said:
Actually, I am pissed! I brought my kids into this discussion stating that obvious, and I made that mistake. But for you to keep going after them is just wrong. I rarely use insults in life and in this forum, I NEVER attack a person's family, let alone their kids. You do it on a routine basis, I guess I am too thin skinned to be here and will go back to the Blue Lot where I belong, at least they have some rules.
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Don't let the door hit you in the ***
 
7

79eer

Junior
Oct 4, 2008
8,544
394
83
Pospecteer said:
She spent some time talking about Trumps tax returns and understating how he devalued his properties to lessen his tax burden, and this is fair game, but would she not be guilty of the same thing?

All of my children worked in food/beverage jobs in high school and college, I know for a fact that everyone understates their income and do not report 100% of their income. My son bartended in college at an upscale gastropub and he only reported about 60% of his income. By the way, they paid him less than $3.00 an hour but his effective hourly wage was closer to $20.00 on weekends and $50.00 an hour on game days.

Are we to believe that she was the only bartender in the USA that reported 100% of her income and did not pocket her tips?

On top of that my old company, the largest healthcare company in the world did the following:

  • My office in NJ employed 5000 people. It was built on a working farm. They continue to have a couple of cows and grow some crops (just enough) to make sure that they only pay agricultural instead of business taxes. On top of that, the building was certified green and they installed solar panels which got their net taxes down to almost 0. This is no different that what Trump was doing and we are lead to believe that this is some slimly deal only he would do.
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WVUCOOPER said:
Your kids should have had better role models. And publicly admitting to their tax frauds. Sad.
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Wouldn’t get too upset Mr. Prospect. Mr. Coop the “Lib” usually comes to the defense of socialist & left wingers. But don’t call him a “Lib” he’ll get all upset and start the name calling & “sad” comments as you have seen. No worries, just an entertaining, ordinary, garden variety, harmless, ......... Lib.
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
55,556
40
31
Pospecteer said:
The real question is has she filed form Form 4137? I find it funny that my 15 year old should have to file a form but a US Congresswomen is exempt from doing the same. What a crazy world we live in.
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You admitted she was a tax cheat. To my knowledge, AOC has not.
 
M

MountaineerWV

Sophomore
Sep 18, 2007
26,324
191
0
Pospecteer said:
Actually, I am pissed! I brought my kids into this discussion stating that obvious, and I made that mistake. But for you to keep going after them is just wrong. I rarely use insults in life and in this forum, I NEVER attack a person's family, let alone their kids. You do it on a routine basis, I guess I am too thin skinned to be here and will go back to the Blue Lot where I belong, at least they have some rules.
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:popcorn:
 
W

WVUCOOPER

Redshirt
Dec 10, 2002
55,556
40
31
Pospecteer said:
Actually, I am pissed! I brought my kids into this discussion stating that obvious, and I made that mistake. But for you to keep going after them is just wrong. I rarely use insults in life and in this forum, I NEVER attack a person's family, let alone their kids. You do it on a routine basis, I guess I am too thin skinned to be here and will go back to the Blue Lot where I belong, at least they have some rules.
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lol. I'm not attacking your kids. I'm mocking their dumb father.
 
M

moe

Junior
May 29, 2001
32,863
283
83
bornaneer said:
Rep. Alexandria Ocasio-Cortez, D-N.Y., lashed out at an anonymous shutterbug who “creepily” snapped a picture of her at a restaurant with an aide who was feasting on a juicy burger -- an image that soon made the rounds on social media, as it was taken days after she questioned whether Americans needed to eat so much meat.
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veggie burger
 
S

Soaring Eagle 74

Freshman
Jan 4, 2008
22,888
69
0
Pospecteer said:
She spent some time talking about Trumps tax returns and understating how he devalued his properties to lessen his tax burden, and this is fair game, but would she not be guilty of the same thing?

All of my children worked in food/beverage jobs in high school and college, I know for a fact that everyone understates their income and do not report 100% of their income. My son bartended in college at an upscale gastropub and he only reported about 60% of his income. By the way, they paid him less than $3.00 an hour but his effective hourly wage was closer to $20.00 on weekends and $50.00 an hour on game days.

Are we to believe that she was the only bartender in the USA that reported 100% of her income and did not pocket her tips?

On top of that my old company, the largest healthcare company in the world did the following:

  • My office in NJ employed 5000 people. It was built on a working farm. They continue to have a couple of cows and grow some crops (just enough) to make sure that they only pay agricultural instead of business taxes. On top of that, the building was certified green and they installed solar panels which got their net taxes down to almost 0. This is no different that what Trump was doing and we are lead to believe that this is some slimly deal only he would do.
Click to expand...

“I know for a fact that everyone understates their income and do not report 100% of their income.”

You’re just like Trump, saying what ever crap drifts through your head.

1) you don’t know this for a fact.
2) you dont’know It’s true of everyone.

You can’t monitor every server’s daily tips and haven’t reviewed their tax returns.

Like Trump, you just make crap up and pawn it off as fact.

Next time say “I suspect it is very common for people who make the majority of their income from cash tips to not fully claim that income on their tax returns.”
 
Airport

Airport

All-American
Dec 12, 2001
86,295
6,999
113
WVUBRU said:
Gifts are taxable over a certain amount. But true, gifts are not income by definition. Tips are.

Just a little bit of info from my perspective. I spent 5 years (2002-2007) as a Director of Finance for a very successful public chain restaurant company that had 3 brands operating throughout the country. Our high end chain restaurant concept, the support staff made very good livings with only earning Cash Wages from the company as is the law. Many in each location made over 6 figures and the average throughout the concept was around $60k. And this was on 40 hour work weeks 95% of the time.

Tips are income and should be taxed. Restaurant employees bust their asses and it is hard work and most barely get by. But there are a lot of industries in which that is the case. Let's have a fair progressive tax system but suggesting this sector of employees shouldn't be tax is not something one can argue very well with those that have facts on their side.

Edit: Direct Wages is the proper term in my commentary, not cash wages.
Click to expand...
I meant to ask if the 3 brands were Outback, Carrabas and Bonefish?
 
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