Ya just gotta love the truth! LOL
Dude, that’s quite the smackdown. You rock. Kudos.
Good Job FRiends
BTTT and kudos for your efforts. As was practiced on the prairies for years, a firestorm can be a healthy and cleansing process — here’s hoping yours has that effect.
I have a child in private school,I have a house on 2 acres, I have income from natural gas and oil wells, I have a stock portfolio,I have farm income, I want a government subsidy for health insurance.
But I still have a problem with this whole subject.
I was listening to a local radio talk show a couple of days ago (night time, second tier) and the doofus was playing the "progressive" talking point big time, assuming that the main issue is already settled, the heart of the problem so to speak...
When did health care cease to be one of the primary responsibilities of parenthood?
That is a serious question, since if that question has been debated (I must have been asleep for a few years) I managed to miss it entirely.
I do not accept that as a given.
Clearly, this family is gaming the system, and scamming the schools, or fraudulently exploiting connections on the scholarship committee.
When my daughter was accepted to Georgetown, the mortgage to my home doubled... That's what some parents choose to do, and I did not have fancy countertops, or an LLC, or multiple games to hide real estate assets...
There is definitely another story here.
Not much aside from expensing legitimate LLC expenses.
As far as an LLC is concerned, it's a limited liability company.
The basic advantage is that an LLC can choose to be taxed as a sole proprietorship, as an S-corp, as a C-Corp or as a limited partnership depending on one's tax needs.
Unlike LPs or corporations, LLCs can often be set up on behalf of a single individual and require far less due diligence costs than incorporation.
Moreover, the one person can alter their status to be either a member of the LLC or a manager of the LLC and take the tax advantages that may accrue from that as well.
And of course, there is the added bonus that it is limited liability.
bttt
I am also a father of 4 and I live in a waterfront house. We have 2 boats and go to the beach for 2 weeks each year. All 4 of my kids go to private school. If the S-CHIP program is expanded...WE WILL QUALIFY!
***As Paul Harvey says, “the rest of the story”. This entire episode is eye opening. Keep up the good work!
Saving for next week, to see where the chips fall.
Good job ping!
In re LLCs, it is common for owners, or members, to take as little as possible in salaries to minimize taxes. By taking their income as distributions rather than salary, the company does not have to pay payroll taxes on the payments and the owner gets taxed at the dividend rate as opposed to the regular income rate.
What is more interesting, however, is that according to Maryland’s corporate records, Mr. Frost’s LLC, “Diversified Industrial Design Center, LLC” had its charter forfieted in 2001 for failure to file its property tax return. In fact, no returns have been filed since then. Therefore, the Frost’s LLC is not a validly existing, legal entity.
See for yourself at http://sdatcert3.resiusa.org/UCC-Charter/CharterSearch_f.aspx
YOU are my new hero! Good on you for firing back - tell them to put up or shut up! They got caught red-handed and it infuriates the hell outta them!
I think I’m gonna have my tubal ligation reversed so I can get the free insurance and the $5000 baby bonus.
I'm not from these left wing organizations, but I believe they consider the facts you supplied about the family as the attack. You will recall Ann Coulter pointing out how the Rats favor "untouchable" spokesmen.
When I read your original post, I was thinking to warn you that your glaring the light of truth on their big lie would subject you to intense scrutiny of the Rats smear machine. Reading their reaction, I can see my instinct was right on. Be careful about what you reveal about yourself online. My guess is they already know who you are and where you live. And will know much more soon enough.
BTW, it is quite funny that your family will qualify for this program....and sad.
The Dems can’t prove a single thing you posted is incorrect, so they will attack you personally, as they always do.
“I’m not trying to say they are rich, I’m trying to make people aware of what types of families are CURRENTLY covered by S-CHIP so we can honestly debate if the income ceiling should be raised.”
Well done!!! Your above statement hits the nail on the head. I make about $100k a year. If my kids were in a terrible wreck and I needed help temporarily, I would gladly take it. However, it appears this family kept living off the government subsidies to increase their families personal wealth at every American tax-payers expense. This is a wrong this train of thought is being encouraged by the Democrat party. It being scaled and promoted on a national level is disasterous. Even Socialist Europe is doing an about face after learning Socialism is a long-term recipe for disaster.