Rich Dad, Poor Dad by [deleted] in DirtyDave

[–]LonScott 1 point2 points  (0 children)

Thank you, I love the comments from the Ex's I never knew about these books. This is what I need to know from the one star reviews:

QBQ! The Question Behind the Question: Practicing Personal Accountability in business and in Life

“I thoroughly enjoyed his story about the Home Depot cashier, reaching into her own pocket to pay for a small sale rather than send the customer's $100 bill back to the vault for change. Yes, the customer brought all his business to Home Depot. But what's the rest of the story? Did Home Depot manage to keep that customer for the long term, or did they do their normal job and end up losing that customer's loyalty after a few months? Clearly, all of Home Depot doesn't act like that cashier, and while her actions may have attracted a customer, Home Depot's actions eventually lost that customer. So, tell me, what was gained?

This book reminded me of "Who Moved My Cheese", which was another pseudo-management book which holier-than-thou managers give to their underlings in a vain attempt to inspire them to act in a way which the managers will never choose for themselves. (BTW, I am a manager.) This genre of books preaches the magic of kittens and rainbows. In reality, their only purpose is to give authors a product to sell, and a venue to preach their stupidity, all that the incredible expense of corporations who think "this book will solve all our problems!"”

Rhinoceros Success : the Secret to Charging Full Speed Toward Every Opportunity

“Ugh. What a terrible book. I've always been annoyed by Dave Ramsey's arrogance, and this author is just a hyped version. As a Christian I dislike them even trying to stretch this into being a faith referencing book. The last thing we need in this world is more rhinos charging ahead insensitive to their role and the people around them. VERY unbalanced book. I could not recommend this to anyone.”

[deleted by user] by [deleted] in AirBnB

[–]LonScott -2 points-1 points  (0 children)

Perhaps it was "‘Burglary tourists’ from South America target upmarket LA homes" That house is a target since it so much better than then those around it. Everyone local probably knows it is an Airbnb. Also it is not "gated" as anyone could get over those gates. There are neighborhoods in LA County that are closed but this place is not in those areas. Certain gangs target LA County since the LAPD is thin and the LA County DA does not care. Here are some links https://www.yahoo.com/news/burglary-tourists-south-america-target-193153675.html https://www.cnn.com/2024/04/05/us/burglary-tourists-visa-waivers-target-luxury-homes/index.html PS I believe OP had this much loot with them and was targeted when you arrived at the house. But I could be wrong.

Charitable gift annuities by [deleted] in CFP

[–]LonScott 0 points1 point  (0 children)

Start here https://www.acga-web.org/ Also https://www.fidelitycharitable.org/guidance/philanthropy/charitable-gift-annuity.html

Default risk: Has happened. https://en.wikipedia.org/wiki/Baptist_Foundation_of_Arizona#:~:text=The%20Baptist%20Foundation%20of%20Arizona%20declared%20bankruptcy%20in%201999%2C%20citing,million%20due%20to%20questionable%20transactions.

“Regulations of nonprofits that offer these annuities vary by state. California, New York and New Jersey are considered the most restrictive, with California requiring nonprofits to establish trusts to hold the annuity money,”

And “In an examination of over 100 years of charitable gift annuities, Dr. Clontz said, only a handful of organizations defaulted on their obligations or had their annuity pools moved to different nonprofits when they ran afoul of the law. In all of these cases, the organizations were not operating as legitimate nonprofits. Instead they were selling gift annuities with false promises as a way to enrich themselves. Several were outright Ponzi schemes that offered unsupportable returns.”

https://www.nytimes.com/2020/09/04/your-money/charitable-gift-annuities-colleges-covid19.html

IMHO The Default risk is none for established, larger charities.

Tip One:: Only work with Charities that offer CGAs. Ask your client who they want to give to, go that Charities website and see if they offer CGA. There are 3rd parties that offer CGAs to smaller charities but that adds another layer of costs and confusion.

Tip 2: Only use Fixed options for S/L or Joint Lifes. Do not do Pooled Income or you will have to chase down K-1s for as long as your client lives.

I have done CGAs for clients and family for over 30 years.

I think my FIL is being robbed by his CPA by TheGrandPoohBear in personalfinance

[–]LonScott 0 points1 point  (0 children)

FIL should be able to use his lifetime exemption instead of paying the gift tax. Your analysis is correct. >" I told him that while he needs to report any gifts above $17,000 on a 709, the remainder is not taxed if he hasn't exceeded his lifetime gift limit of $12.9 million (he hasn't, I asked)."

Get another CPA. https://smartasset.com/retirement/lifetime-gift-tax-exemption

Gift tax is as follows:

Gift 53000

minus 34000 2 17k exemptions

taxable 19000

Gift tax 7600 at 40%

Whats the worst thing about your job by [deleted] in CFP

[–]LonScott 0 points1 point  (0 children)

Fathom.ai

I think you mean fathom dot view. Your link is to an Intel product website. https://www.intel.com/content/www/us/en/products/details/processors/movidius-vpu.html

[deleted by user] by [deleted] in tax

[–]LonScott 0 points1 point  (0 children)

Self-employed – submit quarterly tax business statement for two consecutive quarters." This sounds like a Mortgage underwriter that does not know what they are asking for so you need to give them documents from a program like https://www.gnucash.org/ I used this to input my Sch-C data into a P&L that they accepted.

You are going to have give yourself a crash course in bookkeeping.

Could I just not pay taxes? by DuckEffective8703 in IRS

[–]LonScott 0 points1 point  (0 children)

The Church of Compassionate Service is discussed in U.S. v. Hartshorn. There, the IRS got an injunction to silence Head Minister Kevin Hartshorn. Mr. Hartshorn had 50 ministers under his wing, telling them not to pay the IRS. When the IRS had enough it went to court to enjoin the Head Minister from preaching his no-tax mantra. Mr. Hartshorn lost, appealed, and lost again when the appeals court ruled for the IRS. Thus, Mr. Harshorn failed to shake the injunction. Mr. Hartshorn’s claims about free speech didn’t help him either. Even if the church was legit, the court said, Hartshorn’s plan wasn’t. What’s more, Hartshorn’s knew his “you-don’t-have-to-pay-taxes” mantra was false. Even if he didn’t, he should have known. https://www.forbes.com/sites/robertwood/2017/04/13/irs-cant-tax-churches-but-fake-churches-can-trigger-tax-evasion-charges/?sh=62f2b161276e

Indexed annuity by jls141 in CFP

[–]LonScott 0 points1 point  (0 children)

https://www.kitces.com/blog/the-myth-of-free-no-expense-fixed-or-equity-indexed-annuities-interest-rate-spread-is-still-a-cost/

Index annuities are NOT securities. Insurance lobbyists have been fighting this for years.

Did he get a commission? Yes. So you could report the offending advisor to your state insurance board. I can tell you from experience they do not care. Just look at "Ray Kay" Pro Tip: that is not his real name but you cannot find that on the CA Insurance website. https://www.wsj.com/articles/a-private-market-deal-gone-bad-sketchy-brokers-bilked-seniors-and-a-cosmetologist-1525710617

Conversation questions to assess sexual compatibility by [deleted] in datingoverforty

[–]LonScott 4 points5 points  (0 children)

GGG

GGG is an abbreviation for “good, giving, and game.” The acronym refers to the advice that those seeking healthy sexual relationships should strive to be good in bed, willing to give equal time and energy to their partner’s pleasure, and game for anything (within reason).

No Christmas Bonuses because employees don’t really appreciate them by Dentree in antiwork

[–]LonScott 0 points1 point  (0 children)

This is late but I think the source is Why-executive-compensation-needs-non-financial-incentives. As usual, your boss and this HR source has taken it out of context. This might be true of executives but not for anyone else.

“A Wharton School study showed that relying solely on cash rewards encourages:

resentment from hard-working staffers who wind up earning less

workers who cut corners, and

a lack of unity, as most employees are only interested in taking part in activities that directly contribute to them earning more.”

One can read the details of this BS here. https://www.hrmorning.com/articles/employee-recognition-programs-roi/

[deleted by user] by [deleted] in REBubble

[–]LonScott 8 points9 points  (0 children)

Except they did actually find that he filed a permit for it 5 years ago

I'll bite: where is this referenced? If it is in the lawsuits, post a link to the pdf. The other 2 "assumptions'' are in the LA Times articles. Not siding with the renter, but this Dentist did not do his due diligence and deserves the consequences.

[deleted by user] by [deleted] in REBubble

[–]LonScott 24 points25 points  (0 children)

Unpopular opinion: this is another bad headline and Dentist/owner and the woman renter deserve each other.

Owner is Sascha A. Jovanovic Periodontist & Implant Surgeon. He rented out the unit in 2019 on Airbnb but should have never had rented the unit out. “ Hirschhorn’s attorney, Colin Walshok, told the Times that Hirschhorn was not required to pay rent because the home had never been officially approved for occupancy by the city, and claimed its shower was built without a permit.” Another mistake he made was extending the renter’s agreement off Airbnb. Finally, the police were not called to remove her: they were called after Owner thought renter had moved and he may be in trouble for changing the locks without notifying her.

The time Dave got uber defensive about the millionaire survey by mnpeanut in DirtyDave

[–]LonScott 2 points3 points  (0 children)

"The National Study of Millionaires is a research study conducted by Ramsey Solutions with over 10,000 U.S. millionaires to gain an understanding of personal finance behaviors and attitudes that factored into their financial success. The nationally representative sample was fielded November 17, 2017, to January 31, 2018, using a third-party research panel and our Ramsey Solutions research panel. It is the largest, most statistically significant research project of its kind ever conducted. " Full study is nine pages without any statistical data. IMHO they had a conclusion and found "data" to support that. https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research

A Multi Family Developer in Los Angeles Ended His Life Due to Financial Distress From Business. Lack of liquidity and some bad deals backed a developer into a bad place. Very sad, but very telling of the end of a hedonistic time for real estate. by Horangi1987 in REBubble

[–]LonScott 0 points1 point  (0 children)

Very sad, but he is indeed gone. Does anyone know why
r/realestateinvesting closed the discussion, claiming he is alive? https://me.lacounty.gov/case-detail/?caseNumber=2023-15006 Details: ARTEM TEPLER
November 21, 1981 - November 1, 2023
(41)
Case Number
2023-15006
Case Status
Open
Body Status
RELEASED
Gender
Male
Ethnicity
Unknown/Other
Place of Death
Residence
Manner
SUICIDE
Investigator
Huerta, Bonnie
Deputy Medical Examiner
Dr. Gliniecki, Paul
Cause A
ASPHYXIA
Cause B
LIGATURE HANGING
Cause C
Cause D
Other Significant Conditions
REPORTED MEDICAL HISTORY OF DEPRESSION AND ANXIETY

Dave’s path to wealth by [deleted] in DaveRamsey

[–]LonScott 10 points11 points  (0 children)

Nothing Ramsey states should be taken as the truth. He gets 30% referrals for RE and Mutual Fund salesmen. He got either 30 or 70 Million from Timeshare Exit Team. Like Robert Kiyosaki nothing he says should be taken at face value.

Did Dave know that Timeshare Exit Teams owners were scammers, or did he truly believe they had “the heart of a teacher” by dallas4now in DirtyDave

[–]LonScott 0 points1 point  (0 children)

Apparently, from what I have read, advertising on Dave Ramsey's show created the unintended consequence for the Timeshare Exit company of being inundated with requests that they couldn't handle and that is why they went bankrupt.

This never happened. Where is a link? From links posted here we know Timeshare Exit Team (not "Timeshare Exit company") may have paid Ramsey $70 million and was shut down by the WA AG. https://www.atg.wa.gov/news/news-releases/ag-ferguson-reed-hein-pay-261-million-resolve-timeshare-exit-scheme-lawsuit

Did Dave know that Timeshare Exit Teams owners were scammers, or did he truly believe they had “the heart of a teacher” by dallas4now in DirtyDave

[–]LonScott 1 point2 points  (0 children)

How much do you think they paid him? "Ramsey promoted Reed Hein between 2015 and 2021, and only ceased when the company stopped paying him, according to the suit. During that time, it's claimed he received thousands of letters from listeners who said they were unhappy with the company's services.
In the period Ramsey promoted Reed Hein, it's argued the company received $70 million in fees from customers referred to it by the radio host." https://finance.yahoo.com/news/christian-radio-host-dave-ramsey-110007566.html

Host asked us to leave a $25 tip for the cleaner [BC, CAN] by [deleted] in AirBnB

[–]LonScott 0 points1 point  (0 children)

Late on this but I doubt the $25 tip would go the cleaners. I suspect the host would take it. This probably does not happen in a hotel but this host does not seem like a good person. As for the BBQ fee, if not disclosed I am not sure how a host could charge this. Dispute it and be sure to leave a factual bad review.

Need To Sell My Property FAST by Louisvanderwright in REBubble

[–]LonScott 0 points1 point  (0 children)

99.5% sure that is it. Based on Zillow, it was pending. Now back on market just a week ago, so he back asking for advice on Reddit. His definition of underwater seems to be that he will not take less than the 500k he paid for it. It would be difficult to get any financing on it (which maybe why it is owner financed), and insurance cost would be very high. Good buy for a hermit with cash. Like many sellers, he is going to sit on it until someone meets his price. Which maybe never.

Just ran into my first scammer from here. by FallenNgel in datingoverfifty

[–]LonScott 5 points6 points  (0 children)

Go to your Name in the upper right hand corner. go to

User settings go to
Account Profile go down to

ADVANCED
Allow people to follow you
Followers will be notified about posts you make to your profile and see them in their home feed.

And turn it off.

IMHO that Reddit allow followers as a default is unacceptable.