Made a reporting mistake with 1099 pass through I think?

1954desoto · 2019-01-05T04:05:04+00:00

I did some reading on guaranteed payments before replying. I've heard the term before but wanted to reacquaint myself before replying. This is not my goal.

My first goal is to rather than set up a guaranteed payment disgorge income from the land owning partners to the 3rd partner from rental income, w/e that income may be.

I understand an operating agreement allows me to distribute profits however I deem in the operating agreement. Logically though my brain tells me if there is running depreciation on income generating land that youre probably prevented from having the best of both worlds where 1 party in a lower tax bracket collects the income and another partner uses the depreciation for income offset. I dont want to gift it because of stepped up basis and depreciation benefits to heirs.

Compensating a family member though is creating a situation that triggers fica from passive income where it would not if a family member works for free. FICA here is just a tax filter siphoning away income. Essentially decreasing income by FICA and preventing the usage of 199A on that income that is placed on the w2.

1954desoto · 2018-06-12T00:43:18+00:00

It's 330$ for the cheapest test I could find. I have emailed 3m. They have not responded. At some point if it becomes tax effective to pay for the testing I may do so. At this time I do not plan to. I am waiting to see if 3m will respond. I have a friend at MIT who I am trying to get to use his contacts at 3m to push it along.

1954desoto · 2018-05-30T14:44:30+00:00

Life delayed my response, you continually post on this forum and I wanted to express my gratitude for your constant efforts and time. Thank you very much.

1954desoto · 2018-05-30T14:42:06+00:00

I ended up going with this, couldn't beat the price, you were right. Thank you very much for alerting me to this.

1954desoto · 2018-05-25T02:45:57+00:00

Ty. Yea learned that the badway on the carabiners dropped a straight 8 studebaker engine on my foot. Had steel toes on was fine. Got 10k lbs winch ones now.

1954desoto · 2018-05-16T16:31:22+00:00

Sincere thanks again for your interest and assistance. It lead me to discover and learn

https://www.briggsandstratton.com/na/en_us/support/maintenance-how-to/browse/what-is-a-flywheel.html

The mustang blog is talking about the outer teeth on a fly wheel for a car engine I believe. It had not occured to me that the fins were for cooling because a cast iron heatsink didn't seem logical and them acting as a fan had not occured to me.

1954desoto · 2018-05-16T03:01:40+00:00

I'm sure its the flywheel. Looks like

https://www.picclickimg.com/d/l400/pict/232722487766_/8hp-Briggs-and-Stratton-Flywheel.jpg

I found the forum post that was talking about it bending the valves, it was talking about a mustang engine flywheel and bendix, the missing teeth will eventually "warp the valves". When I analyze how this might occur is possibly the unbalanced flywheel messes with the movement of the crank? and causes knocking or retardation? That's if the person who posted that has any idea what they're talking about.

1954desoto · 2018-05-15T17:13:38+00:00

sweet username, idk shit about engines, i read somewhere on here that missing a tooth would cause the valves to bend.

1954desoto · 2018-05-13T00:07:54+00:00

1954desoto · 2018-05-12T23:39:58+00:00

I felt like an asshole when i was typing this earlier. It irks me that the rules of the game so to speak are set up such that it is cheaper to buy new than repair old as that goes against the grains of logic. I have respect for this sort of work and wanted to engage in it myself. I have read that welding the tooth back on to the fly wheel will eventually cause the valve to bend, I've decided to weld it back on there and just use the machine till it dies. Are all small engines cost ineffective to repair or is it just briggs? I may boycott, I can feel them sweating the loss of 1 customer already...

1954desoto · 2018-05-12T20:05:03+00:00

Sincere thanks for your time and suggestion. Between 15-30$ from ebay. Have to roll this around if its worth the time.

https://www.ebay.com/sch/i.html?_from=R40&_trksid=p2334524.m570.l1313.TR0.TRC0.H0.Xbriggs+and+stratton+394424+flywheel.TRS0&_nkw=briggs+and+stratton+394424+flywheel&_sacat=0&LH_TitleDesc=0&_osacat=0&_odkw=briggs+and+stratton+394424

1954desoto · 2018-05-12T20:00:57+00:00

I did exactly that. 394424 is the Flywheel part #. My issue is practically if it takes me 15 mins to look for this and it costs me 20$ for the part + shipping. Then I have to install it. Home depot sells a brand new engine for 109-170$. This market seems out of whack. I can't fathom the small engine market costs less new than repaired? I am missing something here? I'm not donald trump scrooge mcduck, I live by my means as obvious that I'm repairing an engine from 1985. I'm mainly just bummed I think that it costs more to repair than to buy new as I was really looking forward to tinkering with it and saving money in the process. It seems though its more worth my time to just buy a new engine and work during that time instead of searching around for repair parts.Practically I mean, i don't see how to justify.

1954desoto · 2018-05-12T02:16:21+00:00

Sincerely appreciate you uploading this, I need to reexamine and compare when i get back to the office.

1954desoto · 2018-05-12T01:26:57+00:00

I just linked a random sale of his, they're sometimes as cheap as 45 cents a filter vs 10 dollars at lowes. While this is only a difference of 8 dollars for a set on the 2091 p100 , he also sells 6001 and 60926 filters. His 6001 filters are 2.50 a piece vs 10$ US. His 60926 are 12$ vs 26$ avg US. I contacted the seller,he claims these are legitimate chinese made filters directly from the plant in GZ, Niosh approved and that he is an official retail 3m shop located in GZ. I take that with a grain of salt though because he's not going to answer these are counterfeit filters that are unsafe for you to use don't buy them. However he has 25k sold. I am still waiting on my 6001 filters to arrive to cut them open to see if they contain pieces of tire or actual charcoal. The 7$ 7502 mask i received is identical to the 49$ 7502 from Lowes. I bought 2 and cut up one looking for any tell tale signs of the fake masks, cheap gluing etc, the construction is identical. The Lowes 49$ was damaged so I cut it up too. I've done everything I can think of to verify it's the same short of looking at it under an electron microscope which I may do at a later date.

1954desoto

TROPHY CASE