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HOT TOPIC The Worldwide Covid-19 Coronavirus Pandemic Discussion Thread...

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Rivoli

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The only question now is, who's on that train? @Rivoli or @JScott

Guys, don't back down now. You made a bet. Send the PMs to @MJ DeMarco or keep quiet from now on.
There’s no way he makes more NET INCOME than I do. He might have more assets but no way he’s pulling over $800k in income.

If I win I should be allowed to take his girl out on a REAL date.
 

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Vigilante

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Whether MJ agrees to this or not I hope you both shut the hell up so we can get back to the topic. Don’t wreck this entire thread over whose wiener is smaller. Thank you Jason for offering to take this off-line.
 

Vigilante

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There’s no way he makes more NET INCOME than I do. He might have more assets but no way he’s pulling over $800k in income.

If I win I should be allowed to take his girl out on a REAL date.
I think you might be surprised. Either way, the forum wins. Now let this thread get back on subject.

I’m telling you right now that I will help the thread get back on subject by banning either one of you if you continue the measuring contest in this thread.

I know that Jason has enough restraint. Not sure about ravioli. This ends this part of the discussion in this thread.
 

msufan

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I, too, aspire to make $800K+ a year so I can kick back, relax, and post 57 times in one day in the same online forum thread. You're livin' the dream, Rivoli.
 

Rivoli

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Looks like fun! So agree!
He messaged me saying he wants to add back in his pay, depreciation and charitable contributions to his corporate profit so he could try to beat me Lol.

I’m making the deal line 30 of his 1120 vs Line 21 on my 1120S and he’s backing out in private messages
 
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BlindSide

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Hope we remember this is an entrepreneur forum and not a forum just on the COVID issue. This will pass.

Id still like to learn more on business after this ends from those in the trenches. Can’t do that with a permanent ban that was started due to different views on the situation. Short term POV if you ask me.
 

JScott

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He messaged me saying he wants to add back in his pay, depreciation and charitable contributions to his corporate profit so he could try to beat me Lol.
Actually, as I pointed out to you, assuming your net income above is what you say it is, I'm happy to ignore both depreciation and charitable contributions.

But, you're asking me not to count the distributions/salary I paid from my company to myself (Owner Compensation) in my calculations.

As I explained, a C-Corp typically pays out part of its income as owner compensation. If you don't pay anything out, you are at risk of audit. So, my net income is basically the amount I paid myself in owner comp plus the amount of retained earnings I left in the company for tax benefits.

Line 30 (Taxable Income) on the 1120 with Line 12 (Owner Compensation) added back.

I'm sorry if that's too complicated for you. If you ever go to buy a business, you'll want to understand this, as that's the number (called Seller Discretionary Income) you apply the multiple to to get a value.

I'll stop derailing this thread now. I've proven my point. He's your problem now...

Btw, here's a snippet of the "reasonable" discussion we had on the topic:


32050
 

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Vigilante

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Actually, as I pointed out to you, assuming your net income above is what you say it is, I'm happy to ignore both depreciation and charitable contributions.

But, you're asking me not to count the distributions/salary I paid from my company to myself (Owner Compensation) in my calculations.

As I explained, a C-Corp typically pays out part of its income as owner compensation. If you don't pay anything out, you are at risk of audit.

So, my net income is basically the amount I paid myself in owner comp plus the amount of retained earnings I left in the company for tax benefits.

Line 30 (Taxable Income) on the 1120 with Line 12 (Owner Compensation) added back.

I'm sorry if that's too complicated for you.

I'll stop derailing this thread now. I've proven my point. He's your problem now...

Btw, here's a snippet of the "reasonable" discussion we had on the topic:


View attachment 32050
And another one bites the dust. I expected more from JScott, but I forgot how easily he was provoked.

At least we lost one from each side, until and unless MJ decides he wants this inane derailment to continue. Meanwhile, everyone else... I just got you your thread back.

Hope everyone is safe, and that cooler heads are prevailing.
 

James Klymus

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I take back everything I wrote earlier. Clearly people have been confined in their houses far too long.
Only 3 more weeks to go. From what i've heard, Completely anecdotally i have no numbers/data on this yet, but from what i've heard from police officers is that property crimes, domestics, and suicides are "through the roof" (their wording).

As this goes on people will get more and more hostile, and I hope it ends at the end of April.
 

Xeon

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I myself would draw the line at a mandatory vaccine. Hopefully it doesn't come to that point...but the way Bill Gates is talking in the media, looks like he believes that's the only way we'll ever be able to have mass public gatherings again.
Very surprised that a number of folks here dislike / refuse vaccine. I've been praying everyday for one to come ASAP so we can all resume our lives.
Oh, and Gates is definitely involved in this whole thing.


If I win I should be allowed to take his girl out on a REAL date.
32052

Probably the most alpha line I've read in all these years here.
 

Bearcorp

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Only 3 more weeks to go. From what i've heard, Completely anecdotally i have no numbers/data on this yet, but from what i've heard from police officers is that property crimes, domestics, and suicides are "through the roof" (their wording).
Yep house calls have increased dramatically here as well, not good considering domestic violence was already a serious issue in society, being forced to stay home and locked up together won't be good for a lot of people...
 

million$$$smile

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I've noticed ever since this pandemic became more apparent around the world and anxiety has risen, we all have seemed to devolve into becoming more critical toward each other.

Even on this forum.

Sad.

This is a great forum but I have purposely relieved myself from posting as it seems that even here it escalates to the point of becoming obstructive to the greater good.

We at least in spirit for the most part were trying to help one another.
But I'm not sure anymore.

A Great Teacher once said, "Let him that has no sin, cast the first stone"

The attitude here sometimes depresses me more than it inspires me. We all read more into the words written here and think we all know everything about that person and yet the truth be known, we all for the most part know very little of each other. Even if we've sat in a room together for a few days in a year, we really only know that limited perception.

The internet has become our new form of public lynching.

Because I can.

I have got to deliberately remove myself from this forum for a bit of time. I don't need a ringside seat in a Roman Colosseum.

I've got work to do and plans to prepare for.

Perhaps when we all get back to work, some form of commonality will prevail on this forum.

Hopefully, this isn't the new norm.
 

Walter Hay

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The last few pages of posts (with an occasional exception) have caused me to lose interest in the topic - if it still exists.

You will find me on more interesting threads.

Walter
 

James Klymus

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It's very sad. Please don't let this happen: "Coronavirus could upend global power"
Jeez, talk about fear mongering and sensationalism.

One thing people need to understand is the US is not New York. People seem to have a hard time understanding that different parts of the country will need to respond differently.

Everyone lives on top of each other in new york, theres something like 28,000 people per square mile. Its basically a petri dish.

On the other hand take an hour trip outside most major cities and you'll be met with vast nothingness, where people are miles from their neighbors.

Do you think the same rules should apply equally for those 2 vastly different life styles? Do you really need to run around in a mask if there's no one around?

By the way, it's really strange how the Australian news is painting China as America's savior. Things aren't out of control here, like that article makes it seem. Just because new york is the "epicenter" doesn't mean the rest of us are apart of that.

And isn't China so kind for handing out masks and ventilators? Almost makes it forgivable that this disease came from their wet markets.

I mean, I get that Australia relies heavily on china, but boy does it show through the way that article is written.
 

ChickenHawk

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New Data: Los Alamos researchers suggest that the R0 of this virus was 5.7 in Wuhan. This means that each infected person infected an average of 5.7 other people. To see at how this compares to other diseases, here's a chart, courtesy of Wikipedia. In this chart, they use a range of 3.8 to 8.9 for COVID-19.
FLF-RNaught.jpg
 

ChrisV

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NovaAria

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Very surprised that a number of folks here dislike / refuse vaccine. I've been praying everyday for one to come ASAP so we can all resume our lives.
Oh, and Gates is definitely involved in this whole thing.
Here is an interesting read:

Last December, a team of researchers created an invisible tattoo that gets injected along the vaccine and can be read by machines or phones to keep track of what you got and when.
The team behind the research? Financed by the Gates Foundation.
I am all for helping with the eradication of deadly diseases and all... but one day, we might have large scanners at the entrance of public places to scan where you have been before and AIs to predict where you will be next.

I know it's a bit of a tin-foil theory, but this whole Corona ordeal is a dream come true for power grabbers.
 

Thoelt53

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Vigilante

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Kak

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becks22

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So back to the topic at hand-- my area hospital is working on a plan to use plasma from recovering patients to help understand what made them recover so quickly. They are asking people to donate plasma if possible-- is this happening anywhere else or just in NY?
 

Kak

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So back to the topic at hand-- my area hospital is working on a plan to use plasma from recovering patients to help understand what made them recover so quickly. They are asking people to donate plasma if possible-- is this happening anywhere else or just in NY?
Yes. They are doing it in Houston too.
 

Vigilante

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So back to the topic at hand-- my area hospital is working on a plan to use plasma from recovering patients to help understand what made them recover so quickly. They are asking people to donate plasma if possible-- is this happening anywhere else or just in NY?
I saw a story on this locally in Florida this morning. They are also hoping to do blood draws from confirmed recovery patients to infuse that blood into sick patients in hopes that the antibodies help cure other virus victims.
 

Thoelt53

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Sure is. It’s exactly why the Framers never designed America to be a democracy, and yet our government controlled school system teaches us from a young age that we live in a democracy. We fight foreign wars in the name of “democracy.”

News flash: democracy is a load of shit. This country was designed to be, and is, a constitutional republic.

32070
 

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