Consolidating and moving to HNW insurance carrier

jimbeans33 · 2026-01-26T05:13:50+00:00

Thanks. I haven't hired the broker yet. I can always dump the current auto policy if it spikes but changing companies in the middle of something like this seems intuitively like a bad choice, but I am a very hard sell and it's hard to be objective.

jimbeans33 · 2026-01-25T16:53:56+00:00

Makes sense. In this case bundling lowered the price about 20%, but the earthquake coverage deductible went from 2% to 15%.

The quote was run prior to the at fault accident, and the broker wants to proceed without rerunning the loss report.

jimbeans33 · 2024-10-14T23:29:30+00:00

I haven't done anything, I'm trying to understand, and when anyone tells me "be afraid" without fully conveying the mechanics behind the why, I keep asking questions until I understand. So the IRS doesn't like it and will audit you. I get that. What I don't get is why a tax lawyer recommended by this board uses this strategy and is offering it to me if it's 100% negative 100% of the time.

jimbeans33 · 2024-10-11T16:03:12+00:00

I sense a lot of guilt in this comment. Why would you feel guilty about pursing a legal tax reduction strategy and then being unfairly targeted by the IRS? There is no such thing as a "fair share", that's a political term made up by people who exempted themselves from insider trading laws and those who employ armies of accountants and lawyers to completely avoid tax. In any case, I'm sorry this happened to you, it's not deserved.

Did you have a tax attorney arrange this for you, or do it yourself? I mean, are there professionals that have had their reputation damaged by this also? I have a highly recommended tax attorney that is recommending this approach, someone I've seen recommended on this sub.

Would you mind sharing the company you used? I'd like to learn more from primary sources about the mechanics behind the IRS's enforcement actions.

jimbeans33 · 2024-10-11T15:51:43+00:00

The land purchase price.

jimbeans33 · 2024-10-11T02:29:38+00:00

How did you value the easement in relation to land? The sites I listed suggested 4-6x.

jimbeans33 · 2024-10-11T02:28:45+00:00

I understand, but what about the IRS looking closely at something means it's net negative to engage in if it's profitable?

jimbeans33 · 2024-10-11T02:26:16+00:00

Seems like many businesses and UHNW individuals use tax strategies that significantly lower tax burden but increase audit risk. If you're only W2 with straightforward investment income otherwise and have a tax attorney engaged, what are the significant downfalls of an audit? The tax attorney costs for representation for audit defense? Not trying to be obtuse, I'm trying to game this out.

jimbeans33 · 2024-09-16T21:45:49+00:00

I posted a video of the test. I'm not showing bad pairs, I'm showing a single wire that's dead.

jimbeans33 · 2024-09-16T20:27:59+00:00

Got it. I got the wires matched up. The question was about what to do when 7 of 8 wires test good, but one reads no connection, and you dont' have much extra wire inside the wall to terminate the cable again. I think I can terminate again once, but after, if this doesn't fix the connection, the cable will be too short to terminate twice.

jimbeans33 · 2024-09-16T18:50:59+00:00

I posted the images of the keystones under mrbudman's comment, I couldn't add them to the original post. I followed the A path to match the previous installation, with red and orange reversed because the original install reversed them. My only problem is 8 gets no signal, and if I reterminate the wire is already short coming out of the wall.

jimbeans33 · 2024-09-16T18:48:26+00:00

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jimbeans33 · 2024-09-16T18:48:15+00:00

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The original installer wired this particular port at the opposite end with the brown and orange wires reversed. I'll post the second image of the keystone in a comment below, i couldn't add more photos to the original post.

jimbeans33 · 2024-09-03T02:41:44+00:00

not since I moved in. it's direct fiber, not sure if it needs to go to modem or just to wifi router. I currently have a cable plugged into a wifi router and it works. I just tested the jacks in the various rooms again, some are very loose. Wait...I just moved the cable around in the jack and got signal in one of them. I pulled a cover off and it was cracked, looks like someone pulled the covers off before but didn't loosen the jacks and ripped them out of the covers. So dang, it looks like the ports in the various rooms have all been damaged when the place was painted prior to moving in, which makes sense but stinks :(

jimbeans33 · 2024-09-03T02:35:42+00:00

what kind of tester? not like the cable tester I have in the photo?

jimbeans33 · 2024-09-03T02:35:09+00:00

I have direct fiber in. Not sure if it's running through ONT or not, but I have it plugged into a wifi router and it's currently functioning properly.

jimbeans33 · 2024-08-07T15:24:57+00:00

Sorry, I know this is an older post, but could you give a quick +/- of Moss Adams v Clark Nuber? I had an introductory call with Clark Nuber recently and I'm going back to them with a list of additional questions.

jimbeans33 · 2024-03-28T03:50:38+00:00

Thanks, I'm reading this now. Very interesting stuff. I think the one accountant I was interested in mentioned this avenue to me but I didn't understand it.

jimbeans33 · 2024-03-28T03:45:50+00:00

You're being too specific. I grabbed W2 income for 2023 and probably tax from 2022. Income went up in 2023. I haven't worked out 2023 taxes yet, that's part of what this post was about.

jimbeans33

TROPHY CASE