From NJBIZ:
New Jerseyans need to prepay real estate, local taxes before year’s end, say accountants
New tax reform laws could spur New Jerseyans – retirees in particular – to sell their homes and move into rental spaces, according to several local accountants.
That’s because a sweeping overhaul of the tax code currently being ironed out by House and Senate Republicans in the U.S. Congress would cap the deduction for property taxes at $10,000 and preserve the mortgage interest deduction only for existing mortgages and new purchases with mortgages of $500,000 or less.
That would be bad news for state residents, who already pay some of the highest property taxes in the country, and could exacerbate the population flight out of New Jersey. It could also prompt residents – particularly retired people who no longer have children in the state’s school system – to sell their homes in favor of rental properties.
…
Stuart Berger, a partner at Clifton-based Sax LLP and head of the firm’s real estate practice, said capping the deduction on property taxes may have a minimal effect on residents in other parts of the country, but will negatively impact New Jerseyans because of high property taxes and home ownership costs.“I am concerned that if that real estate tax cap goes higher, it is going to further accelerate the moves out of New Jersey,” Berger told NJBIZ. “It might push some of the seniors who have lived in a community for years to sell their homes and move into a new rental property from that standpoint.”
Berger also said the new cap could discourage young people from seeking to purchase their first homes in the state.
“The flight to home ownership could be reduced,” he said. “In the past the young people who were stretching themselves out to buy a home always considered that they got a tax write off on mortgage interest. This could be a factor in whether they will consider home ownership.”
…
Jim Lawrence, a partner and CPA at Traphagen Financial Group in Oradell, agreed that residents should pay state and local taxes before the end of the year in order to get the current deductions, but said his firm is recommending to clients that they pay their estimated state taxes for the first quarter of 2018.By doing so, residents would get a voucher for the first quarter before the new tax law kicks in, thereby allowing them to get a deduction on those taxes next year under 2017 tax laws.
“So the 2018 voucher is a new concept,” said Lawrence. “So the worst-case scenario is that no legislation goes through, but you’d still getting that deduction for first quarter of 2018. I don’t think there’s anything lost by doing it. We’re talking about $2,000 to $4,000 [in tax returns] that they might not ever see again,” he said.
From CNN:
Senate approves GOP tax plan, House to revote Wednesday
In a vote in the early Wednesday morning hours, the Senate approved the final version of the first overhaul of the US tax code in more than 30 years, handing President Donald Trump and congressional Republicans their most significant legislative victory of 2017.
The bill passed along party lines, 51-48 with the final result announced by Vice President Mike Pence who presided over the vote. Sen. Jeff Flake, the last undeclared Republican, voted yes.
The House passed the bill earlier Tuesday, but technical changes were made to it in the Senate, and the bill will go back to the House on Wednesday for a revote, where it is expected to pass again. It will then head to the President’s desk for his signature before the Christmas holiday, making good on the Republican Party’s promise to enact tax relief by the end of the year.
At around midnight, Senate Minority Leader Chuck Schumer made his final pitch to his colleagues to vote against the tax bill. It was the same kind of impassioned speech Democrats made all evening, but Schumer looked directly at his colleagues and said that this is “some bill for the middle class,” noting the heftiest provisions will help corporations.
fristish?
I’m watching Morning Joe for comedy this morning. Mika is “off today” and Joe himself is not in the studio, presumably remoting in from home, I guess? Anyway, his hair seems to have a lot less volume and height this morning. Maybe he knocked Mika around for saying that Schumer and Pelosi had this coming?
A $400,000 mortgage at 4% has an annual Interest of $15,871 add 10,000 Property Tax that puts you over the $24,000 Standard Deduction. What else is deductible on this Law you can add to it. Charity say ($3,000) and Medical (say $10,000) will still be deductible to a limit. Now you have $38,871 in deductions
The Itemized Deductions do not apply to people that do not have over $24,000 in qualified deductions.
IF interest is only $6,000 and property tax is $10,000 this equals to $16,000. Standard deduction of $24,000 is your only choice
BTW, I had C-SPAN on all night up until the vote was complete. It was great.
I’ve always said that nobody ever says, “I’ve had enough of this place. I’m just going to pick up and move to New Jersey!”
Truer now than ever.
Medical Expense Tax Deduction is extended for 2 years
https://www.cnbc.com/2017/12/16/gop-tax-bill-expands-medical-expense-deduction-for-two-years.html
Good inventory of highway houses on sale this Spring?
The funniest part about Morning Joe today was when Joe, spraying spittle out of his mouth, said that the Dems need to stand up and cause a government shutdown if the the GOP won’t do anything about DACA in the spending bill because the Republicans would get blamed for the shutdown because they run everything. One of Joe’s more level-headed analysts rightly replied, “Yeah, but then outside of the coasts and D.C. they could make a case that the Dems are shutting down the government in service to illegal aliens. It seems like it would be small gains for the trouble.”
IF interest is only $6,000 and property tax is $10,000 this equals to $16,000. Standard deduction of $24,000 is your only choice
Why do you keep manufacturing these atypical edge cases to prove a point?
Compared to every variation floated, the bill that was passed was actually the best case for NJ. Sure, would we have liked a bigger SALT deduction? Sure, but in most cases, people are going to come out ahead.
Also keep in mind that mortgage interest declines dramatically over time, so everyone loses that deduction already. It’s not fixed over the life of the mortgage, it rapidly drops off.
$300,000 loan at 4% interest. First year interest payments are nearly $12,000. By year 10, they are down to $9,000. By year 20, they are down to $5,000. In the last 5 years of the term, you are paying roughly $1,000 a year.
Factor this. There are 830,000 small businesses in New Jersey, this represents roughly 98% of NJ businesses. These businesses employ 1.7 million NJ residents, roughly 50% of total employees. NJ’s small businesses are, for the first time in a long time, seeing positive tax treatment.
NJ’s small businesses are, for the first time in a long time, seeing positive tax treatment.
Puzzy N Boots, Otto, Fabius, your rebuttal?
W-2 employees with too big houses are the losers – every on-air news person in DC and NY for example. That’s the best part.
Becky Quick on CNBC said she already arranged to pre-pay her property tax for next year now.
By the way, NJ’s small businesses are probably the most diverse cross-section of race, sex, and socioeconomic status that exists in NJ.
So please don’t claim that helping small business is helping rich white guys.
Especially considering that in terms of socioeconomic mobility, small businesses and entrepreneurship represents the single greatest opportunity for someone to move from the bottom income quartiles to the top.
I hope Rich Acosta at CNN has a gigantic property tax bill and a two million dollar mortgage.
7:53 ever work for a small business? A mom and pop? Or a bigger company with family ownership?
I meant Jim Acosta. I’m glad to hear he’ll be paying alimony soon too:
https://pagesix.com/2017/07/24/recently-separated-jim-acosta-of-cnn-is-loving-the-single-life/
Small business employment = Zero mobility
The US Census Bureau’s American Community Survey asks a set of questions about economics, demographics, social characteristics, and housing to about 1% of the US population each year. Among the many topics on the survey, respondents are asked whether they moved houses in the previous year, and if so, where their previous house was.
A handful of states had 4% or more of their population moving to that state in the previous year:
Washington, DC: 8.7%
Wyoming: 4.6%
Alaska: 4.3%
Idaho: 4.3%
Colorado: 4.1%
Hawaii: 4.1%
Nevada: 4.1%
Arizona: 4.0%
New Hampshire: 4.0%
Large business employment = Zero mobility
So what’s the point?
7:53 ever work for a small business? A mom and pop? Or a bigger company with family ownership?
My family owned a neighborhood business for 26 years. It was a hole when my father bought it. Every dime made went back into the business until profits were realized. We had a staff of about 25 people when we sold. Any questions?
Pretty sure your family took care of your employees better than Walmart does.
8:15 my family too, still wouldn’t work for them
Working for small companies blows.
Ask NJ’s ex-pharma employees how they feel about working for big companies. Given there is essentially zero corporate loyalty to employees these days, seems you are damned if you do, damned if you don’t.
Ask away. Fat severance packages don’t generally come from small firms.
I’ll never work for a small firm again. Not worth it.
Be careful on prepaying state income taxes. According to this 2 day old report, that option was removed. See item #3
https://www.bloomberg.com/news/articles/2017-12-18/six-ways-to-make-the-new-tax-bill-work-for-you
Not to mention their holiday parties suuuck.
Pretty sure your family took care of your employees better than Walmart does.
Constantly giving them extras; opened up our banquet room (it was a small tavern and restaurant) on Thanksgiving for a few people down on their luck; had a Christmas party for poor kids every year with Santa, hotdogs, cupcakes, drinks, music, some presents and the like all out of our pockets. My father had a lot of George Bailey in him. My mom worked endlessly, too. All this and my father was a paid city firefighter who came “thisclose” to losing his life twice in the line of duty.
We extended credit on a handshake. Gave miners layaway options and sold tons of Levi’s and boots to anthropomorphic southerners. Yay!
Pretty much every multimillionaire I know is as a result of a small business. I know lots of successful people, who work for other people, but the wealthiest, they are all associated with small business.
Yeah millionaires with an equity stake or founders not a ‘worker bee’….
Small businesses suuuuuuck to work for.
Small tech firms? Nope. Especially nope.
If you’re dreaming about joining a startup, here are a few things you should know:
1. Working hours are a fluid concept
One of the reasons that startups shower their employees with free food, beer, and services is because they don’t want you to go home. Closing time really doesn’t exist. Startups need every ounce of every employee they have–which translates into very, very long days.
That said, most startups are flexible in allowing their employees to have some semblance of a personal life–at least that’s what they’ll tell you.
2. Nobody is paid what they’re worth
You might assume that in exchange for the ridiculous hours, you’d be paid handsomely. You might also assume that if you’re being asked to work in San Francisco, one of the most expensive cities in the country, you’d be given a livable wage.
You’d be wrong.
While startup salaries aren’t necessarily peanuts, until the company either is profitable or has secured later-stage funding, you can expect to be paid well below market rate.
The upside: equity, the promise of a future raise, and free food. Yum.
3. Equity is meaningless, until it isn’t
With the upside benefits in mind, it’s important for you to know that equity means nothing unless the company becomes something. It’s paper. And, statistically, the odds state that will be all it’s ever worth–paper.
The other thing you should know is that, if the company takes off, your shares will be diluted. Essentially meaning that the pie is getting bigger, but the size of your slice isn’t growing with it.
The good news is, if your shares are being diluted it likely means that the company is becoming more valuable. Also, if you do happen to land on a rocket ship, those shares, regardless of how small, will be your ticket to greener pastures.
4. Startups are always six to 12 months away from shutting down
By definition, startups are high-risk, high-growth companies. Growth supersedes profit in most cases. Most rely heavily, if not entirely, on outside capital, which means there is something called a runway. And, much like an actual runway, it has an end.
Healthy companies, ones that have either recently raised funds or mix funding and revenue, will have 12 to 18 months of runway.
Normal startups have between 6 to 12 months of runway. That means there isn’t much room for error. It also means that if your employer can’t prove the company’s worth in short order, you’ll be asked to agree to a salary cut, or you’ll be out of work.
Startups run out of money all the time.
5. You’ll be expected to do much more than you know how to
You may apply to a startup for a specific job, and that job may have specific requirements. However, once you start, that all goes out the window. You may have a certain title, but you most definitely won’t have a one role.
All hands on deck is the term most often used. Employees need to adapt to the environment and help where help is needed. That might mean talking to customers one day and designing a pitch deck the next, meanwhile still serving your role as CFO.
As a benefit, you’ll be given a front-row ticket to what it’s like being an entrepreneur.
6. All of your work might be thrown away
There is nothing more demoralizing than seeing months’, even days’, worth of work go down the drain. Welcome to the world of startups.
Things change constantly, and it’s even likely that the company you joined today does something completely different tomorrow. You need to be able to roll with it.
The plus side is, you never know if you’re with the next Odeo turned Twitter or Burbn turned Instagram.
7. You’ll need to know how to figure things out on your own
Startups don’t have a training program or an on-the-job training mentor to guide you along. Most often, you’ll be hired and expected to hit the ground running.
Most startup founders–in fact, I’ll go out on a limb and say nearly 100 percent of them–didn’t come from a management background. They’re creators, not instructors. So they probably won’t have the skill set to groom you as an employee, even if they want to.
That said, startup founders have vision and can motivate you to no end. The really good ones can rally a team to massive success.
8. Every day is a new adventure
If you are the kind of person that likes your days planned out to a tee, startups will be hard for you to stomach. Very little of what you do will be planned.
You may wake up in the morning and find out that your employer’s site has crashed, or that you’ve been featured on the Today show. Either situation means that whatever you had planned to do that day has just been postponed.
With that in mind, if you’re someone that finds excitement in unpredictability, you’ll find the unknown of each day to be exhilarating.
9. Your employer will probably fail
Last, but certainly not least, you’ll need to become comfortable with the greater-than-not chance that your employer is simply going to fail. Go under. Collapse. Go bankrupt.
Source – inc magazine
I went to work for a small business in NJ circa 1990 for a small hourly wage, only because I wanted experience in this particular business. Six months later I was paid an $8,000 bonus and became a partner in the business. I guess it all depends on the business.
8:46 nice! Would venture to guess that’s highly unusual….see above
I did two IPO’s myself. two. Nasdaq ipos.
Nexar Systems
Organic, inc.
http://www.nasdaq.com/markets/ipos/company/nexar-technologies-inc-8742-8174
http://www.nasdaq.com/markets/ipos/company/organic-inc-69491-3054
Finally: https://g.co/kgs/47XhPv
The question is can you deduct over $24,000 standard deduction this year or not? If you only have $16,000 in deductions obviously you will take the $24, 000 standard. If mortgage interest have declined that with all total qualified deduction is less than 24k you are taking standard
8:46 Startups – All of those things are true. In 1998 I joined a Boston area tech startup for $80K salary. I even (stupidly) offered to work for $40K if they doubled my stock options. As it worked out, they doubled my stock options anyway and still started me at $80K anyway. Talk about doing what you didn’t know how to do, I was a hiring manager 3 hours into my first day (I was the 5th person in the company). We were at the seed funding stage and the company remained viable for 15 years and was finally sold (as a cash flow positive entity), but I don’t think anybody made out on their stock options as the VCs took it all.
I went quickly from $80K to $130K + bonus(I even got a $10K bonus my first year). I was a Director managing SW Development, QA, and Production with half of the company’s 50 people reporting to me 4-1/2 years later, when I left. I didn’t make millions, but prior to having kids, it was a great experience.
I worked for a small business. Busted my ass and grew my department to 5 employees. Was the only department in the business that was profitable. The small business owner, who was one of those prodigy children who skipped multiple grades at a top school and graduated from NYU in three years was completely clueless about running a business to make money. Sure, there were beautiful leather couches in the reception area and the office was to die for. But she spent way too much time volunteering her time for NAWBO and attending other connection-driven groups, rather than focusing on her business. I was simply sick of busting my hump for her and getting little more than praise for it. And the benefits? We were lucky when she paid for our healthcare. The only way to really make a small business work for you is to own it.
In my opinion, the right way to do it is to work for the man (large company) for a while and hone your skills there. Then start your small company by stealing some of the clients from the large company to seed things. Word-of-mouth will provide a lot of the rest of your marketing and sales. Especially if you are significantly cheaper than the man!
When I left that company I had to either exercise my options or lose them. I thought on it a while. I figured it would be 50/50 whether they made it so I punted and didn’t pay up to exercise.
You can’t prepay your taxes to avoid a tax change. It’s not a tax payment. It’s merely a deposit. And you guys all trust these accountants. You are really better off doing it yourself. Thirty one years of doing my own taxes with out even an accounting class and I have never been audited. Though once, I was so friggin’ tired, I forget to include my estimated taxes paid. Was the most pleasant (yet embarrassing mistake ever). I’m looking forward to this tax season. I have no friggin’ clue what the result is going to be with all of these changes. Plus, Gator is self-employed again but earned little as she’s been taking care of the “D”. Plus this is the first year since college (and my 2 year-stint in West Hollywood) that I owe New York nothing! I also was supposed to pay estimated taxes, but that was based on our combined full-time salaries s0 I didn’t. I almost want to run out and buy turbotax now instead of getting it free off a torrent in February.
I concur. The other way to go is to steal some of your company’s employees and make your old company your first client and then hustle like crazy to find new customers before your pissed off former company drops you.
The only way to really make a small business work for you is to own it.
In my opinion, the right way to do it is to work for the man (large company) for a while and hone your skills there. Then start your small company by stealing some of the clients from the large company to seed things. Word-of-mouth will provide a lot of the rest of your marketing and sales. Especially if you are significantly cheaper than the man!
I have a friend in Las Vegas who had a sh1tty little job with Open Table before they went public. As was the case with so many of these start-ups, though he was little more than office assistant, they gave him a bunch of shares. When he left, he too had to decide whether to punt or exercise his share options. He ended up punting away over a million dollars. Today, he is a realtor in Las Vegas and is the office manager at an active adult mobile home community. Though he makes little dough, he has a lot of interesting and disgusting stories to share.
Yeah, if your mom and pop are Morgan Stanley and Goldman Sachs.
Actually most multimillionaires are a result of monopolies, regressive tax laws, discriminatory lending and housing practices, and America’s soci@list policies which created a majority middle class in the 1930s for the first time in world history until multimillionaires dismantled them starting in the 70s.
grim says:
December 20, 2017 at 8:31 am
Pretty much every multimillionaire I know is as a result of a small business. I know lots of successful people, who work for other people, but the wealthiest, they are all associated with small busines
Only the strong survive. Too bad there are a bunch of pussies out there like yourself that can’t handle the economic competition nj brings. Run away for an easier competition you Pussy while I reap the rewards a stronger competition brings to the winners.
Three Secret GEDs says:
December 20, 2017 at 7:16 am
I’ve always said that nobody ever says, “I’ve had enough of this place. I’m just going to pick up and move to New Jersey!”
Truer now than ever.
Only the strong survive. Too bad there are a bunch of puzzies out there like yourself that can’t handle the economic competition nj brings. Run away for an easier competition you Puzzy while I reap the rewards a stronger competition brings to the winners.
Three Secret GEDs says:
December 20, 2017 at 7:16 am
I’ve always said that nobody ever says, “I’ve had enough of this place. I’m just going to pick up and move to New Jersey!”
Truer now than ever.
So not true Otto! I know it doesn’t fit the Blue Team dogma, but you are absolutely wrong on this one. I hate Wall Street excess more than most, but millionaires are not restricting entry into their club. Our government is. Both teams. Yet you cheer for one of them. You can’t have it both ways. HRC, was OWNED by that class more than any politician before her. You were her biggest supporter. So don’t bitch about that class and then support it simultaneously.
My uncle, despite being over 70, will be the first person at his place of work, at 6 am on a Saturday morning, Sunday morning, any morning, rain or shine. He’s run a successful small business for more than 30 years, and has had a number of the same employees for those 30 years. Everyone that worked for him, and worked hard, did very well for themselves. Most of his employees have gotten houses built for themselves as part of working there. I know more than a half dozen of his guys, who have gone one to start their own companies, and have become millionaires as well, following what he taught them. I remember him putting me to work at 7 or 8 years old, putting up a house for my family. He wasn’t afraid to work, and he didn’t go home until the job was done right. There are at least 150 people in NJ right now, who have lived a pretty good life because of him, his company, and his generosity. He will go out of his way to help anybody, and all you need to do is ask for help.
You, on the other hand, are a worthless piece of crap.
How many houses have you given to your employees? How many kids have gone to college as a result of the employment you provided? How many of your employees have gone on to become millionaires, through the hard work ethic and business acumen they learned from you? He’s built dozens of units of affordable housing, and his renters love him and his buildings, especially his section 8 tenants, who live in beautiful apartments. Have you ever created an affordable place to live for someone?
He never took a handout from anybody, and probably pays 50x the taxes that you do. He can honestly say he left the world better than he found it.
I’d love to open a brewery. It’s probably around $200k in startup costs.
Grim,
We both know of the Otto types. They are extremely book smart, worked hard in academia, graduated with honors and then expect the world to reward them for their pre-professional performance much like mom always did. What they don’t learn is common sense. And in this case, I think I have Otto pinned.
Mike,
Too late for that. Too much competition and the differentiation between all of them is too small. I’ve been to way too many beer festivals and know a lot of the brewers on a first name basis. Very few are making any significant money. And the majors are moving in by buying out the good ones which means they are backed and you are not, when the next best thing comes out. Like a cheese pretzel-infused rauchbier.
Agreed. There are some definitely undeserved areas though such as around morristown.
At the end of the day I don’t want to give up my software engineering job to work twice as much and potentially make half as much.
I know, it’s probably extremely frustrating to learn that someone who swings a hammer or can sweat a pipe can be more successful in life than someone who graduated with honors in the liberal arts. It’s OK, I’m sure you wrote a great essay though.
Troon has done very well in the last year. The owner is 27 years old I believe. He will routinely have 200 people line up and wait in lawn chairs, in the snow, for a beer release on the weekend. I think a 4 pack sells for about $30. He will be a millionaire in a few years, no doubt.
Yes troon has a superior product. If he sized his brewery right he would make a ton of money. Take a look at trillium, bissell brothers, night shift, etc.
I miss Jersey. I admit it. There I said it.
These are our local brewers: http://www.enegrenbrewing.com/
Yeah, but you gotta be enjoying all that fake titty out there in Cali.
nothing like watching the world burn from a semi-safe vantage point. Was not ready for that one….
@chrislhayes
Remember,
Trump’s first public appearance post election night was at NYC restaurant that sells $36 burgers, where he shook rich people’s hands and said “we’re gonna get your taxes down.”
For every trillium there’s 200 micro brewers who think their beer and marketing are just as good.
I knew this one brewmaster who would win every judged festival he attended. Guy is a true artisan of the craft. Couldn’t market himself out of a paper bag. Let the brewery go and now consults other startups and is making mint. He knows his weakness was trying to rely on word-of-mouth and letting the product speak for itself. A well-thought out name and fancy packaging often take you further than the product itself. Heck, 90% of the brews at the Bottle King couldn’t hold a candle to his. Local guy too (Pompton Lakes).
@MichaelSLinden
Credit where credit is due:
Every single Democrat in both the House and the Senate voted against the GOP tax monstrosity.
Every single one.
Those fires are way too common out there. It’s like building on the flood plains here. No difference whatsoever. Not a single person who buys up in the hills is not aware of the risk. It’s what insurance is for. In 5 years, it will all be forgotten.
I often played roller hockey at a school up in La Canada. Multiple times, we drove through those fires.
There is a saturation point to the micros. Some areas are there already. Western Morris has 4 between long valley, mount olive and Hackettstown. Drive 15 minutes in any direction and you’ll reach another.
I think the culture is here to stay though. Between the ingredient sourcing, the buy local and the nerd following there is a lot of grass root interest. And it’s just a fun thing in the digital age to get out an socialize. It’s not the same as the dive bar culture. I’m a big fan of jersey girl myself.
“Every single Democrat in both the House and the Senate voted against the GOP tax monstrosity.
Every single one.”
All this speaks to is the continuation of divisive politicing. There can be no common ground anymore.
If I recall, Obama’s Porkulous was favored by every single Dem. There were only three R’s who supported it and one became a Dem later in the year.
Hardly a salient tweet Moana. As per usual.
Jersey Girl is pretty good. Smart marketing too. I agree craft beers are here to stay and drinking at the breweries have replaced the corner tavern for the Millennial set. It’s just becoming a crowded trade. If you haven’t, go to the AC beer and music festival. Probably the 2nd best festival in the US. Though a lot of the majors have moved in, nowhere else will you be able to sample that much variety. The key is to not drink anything you’ve had before. Most people bow out in about two hours. My brother and I often help serve. If you do go, let me know when and I might (depends on which connections of mine are there) be able to get you into some of the rare tastings.
I need top renew my driver’s license. Will never ever step foot in Wayne MVC again. Heard Oakland is awesome so I’ll probably drive the extra 20 minutes. Anyone have any better ideas? You all know where I live. I plan to leave in about 45 minutes. I have to wait for my turkey to finish smoking. Making more chili for the heart of the winter.
Randolph dmv.
Ottoman says:
“Actually most multimillionaires are a result of monopolies, regressive tax laws, discriminatory lending and housing practices, and America’s soci@list policies which created a majority middle class in the 1930s for the first time in world history until multimillionaires dismantled them starting in the 70s.”
What color is the sky in your world? Seriously? You can’t possibly walk outside, look up, and see the same thing we do.
ExJ: Sands Bros? Holy Shite. Did those guys ever go to jail? Nice step up thereafter to GS.
Funny enough when I first went for my license, I stood in line, and they gave me my license without taking a test. I then asked when’s the test, they destroyed the license. Either way I passed.
I still wonder how many drivers out there may have never taken the test.
Oh this will end well……
https://finance.yahoo.com/news/nova-lifestyle-announces-launching-blockchain-124500583.html
https://finance.yahoo.com/quote/NVFY?p=NVFY
@SteveRattner
Dow in the first 11 months:
– Obama: 29.9%
– Trump: 25.0%
S&P in the first 11 months:
– Obama: 36.9%
– Trump: 18.4%
@pourmecoffee
Incredible deals out there right now for conservatives on anti-deficit t-shirts and bumper stickers.
Buy in bulk now and put in storage for when Democrats are in power again.
Thank you…… where is this sober analysis in the media?
grim says:
December 20, 2017 at 7:50 am
Factor this. There are 830,000 small businesses in New Jersey, this represents roughly 98% of NJ businesses. These businesses employ 1.7 million NJ residents, roughly 50% of total employees. NJ’s small businesses are, for the first time in a long time, seeing positive tax treatment.
Thank you…… where is this sober analysis in the media?
grim says:
December 20, 2017 at 8:00 am
By the way, NJ’s small businesses are probably the most diverse cross-section of race, sex, and socioeconomic status that exists in NJ.
So please don’t claim that helping small business is helping rich white guys.
Especially considering that in terms of socioeconomic mobility, small businesses and entrepreneurship represents the single greatest opportunity for someone to move from the bottom income quartiles to the top.
Kids + owning a home = Zero mobility
ExJersey says:
December 20, 2017 at 8:07 am
Small business employment = Zero mobility
Pumpkin from yesterday “At least I’ll be able to tell my grand kids about this magical place called the internet. Of course, they won’t even know what that is. I’ll tell them how it was a beautiful thing where tons of good information was free. ”
You describe what I say to people about this board before you came along and ruined it.
You should own a small business…..once you get up and running (a big if, and especially difficult in bad economic times, or else if you are simply kind of a moron) profit disproportionately falls to the bottom line…..
ExJersey says:
December 20, 2017 at 8:24 am
I’ll never work for a small firm again. Not worth it.
I recommend Oakland DMV. Line moves quick, decent location.
I was given the choice…… holiday party or chunk of change….. guess what I chose?
ExJersey says:
December 20, 2017 at 8:27 am
Not to mention their holiday parties suuuck.
‘I’d love to open a brewery. It’s probably around $200k in startup costs.’
Stop by Ramstein brewery in Butler some time, has to be one of the smaller footprints and cheaper setups I’ve seen ( http://ramsteinbeer.com/ ). I like what they do: very targeted product. Not trying to fight with the millions of over-hopped IPAs out there.
@AoDespair
Nothing is more incoherent than the attempt to shame affluent folks for OPPOSING a kleptocracy that will make them more money.
Yo, fukcswizzle, people fighting against their obvious self-interest out of concern for the republic are behaving honorably.
You remember honor?
DMV, for basic things like licenses have had the best experience with limited services offices. For me, Union, probably doesn’t work for you.
Spent last night with the Rags on in the background as a friend and I packed 45 lbs of salmon to cure before smoking tomorrow. Half cold smoked, half hot. for the holidays for about five of us.
I thought you wrote this stuff and was going to complement you until I read all the way to the bottom….. still … thank you….
ExJersey says:
December 20, 2017 at 8:46 am
If you’re dreaming about joining a startup, here are a few things you should know:
Beautiful fish. four and a half pounders. Trimmed the belly (which usually doesn’t smoke well anyway). Will pan fry that down and make a nice salmon cream sauce for tonight. Mmmmmmm.
Now with all the discussion above just need to decide on a good microbrew to accompany.
Nice little gathering place. Think they sub-lease the back end of a medical building.
https://www.twinelephant.com/
Twin elephant is definitely putting out some good stuff, although their capacity output seems very small and they will need to upgrade all their equipment sometime soon. ($$$)
Just because you don’t agree with what I say (prob out of pure hate), don’t act like I didn’t bring value to this board. If you would have listened to me 5 years ago about the stock market (except nhmd) and housing market, you would be sitting really nice right now with your investments. I like to think I brought sanity back to this blog when everyone was consumed with doom and gloom and obsessed with clot.
homeboken says:
December 20, 2017 at 10:58 am
Pumpkin from yesterday “At least I’ll be able to tell my grand kids about this magical place called the internet. Of course, they won’t even know what that is. I’ll tell them how it was a beautiful thing where tons of good information was free. ”
You describe what I say to people about this board before you came along and ruined it.
With smoked salmon I’d go brown ale. For regular pan fried, a wheat or blonde. Great brown, Durty Mud Season Hoppy Brown Ale from Smuttynose or easier to find, Sam Smith’s Oatmeal.
Has salmon for dinner last night. I’ve tried a lot of recipes but this simple one is purely heaven. Make with rice and string beans and pour the remaining salmon-infused reduced gravy over the rice. Make sure you use a seedy dijon.
https://www.epicurious.com/recipes/food/views/honey-and-soy-glazed-salmon-14110
Not disagreeing, but pointing out a fact…… when O-man was inaugurated, I think the indexes were down about 40% from highs and the below figures are essentially a dead-cat bounce….
Trump (for all the sh!t) is actually covering new ground, as the market was at an all-time high when he took over, and then things really ripped……. why do think this narcissist is crowing about 401(k)’s….. it is repellent, but it is not factually wrong, and a lot more impressive than His Royal Oppressive O-ness……
Grab them by the puzzy says:
December 20, 2017 at 10:51 am
@SteveRattner
Dow in the first 11 months:
– Obama: 29.9%
– Trump: 25.0%
S&P in the first 11 months:
– Obama: 36.9%
– Trump: 18.4%
Mike. Key to being a successful brewer is consistency. A lot of the little guys can’t maintain consistency from batch to batch. Going larger just makes it more difficult from an ingredient sourcing standpoint. Ask Grim about his grains.
LW,
Thanks for the important info you sent yesterday. Was off to work and did not have a chance to get back to you sooner. Much appreciated.
Also notice that Nasdaq is mysteriously missing Chi.
Obama’s market was going up regardless of what he did. The fact that the market is going up under Trump is truly his work. You might not agree with borrowing to juice an already juiced market. But it is essentially what he is doing.
On salmon recipe. Cook skin side up first. That way, it won’t stick when you flip it and the pan will be nice and oily for a delicious crispy skin.
Bs. This market has nothing to do with Trump. I was calling this for how long? If this run is due to trump, what exactly did he do?
And to quote trumps boy Cohn…..this current run up in the market is due to a strong economy, the effects of the tax bill have not been felt yet.
Pumps – You described your mental illness perfectly in the last post. I did purchase a home and I have a healthy weighting of equity in my investment and retirement portfolio. Zero of those decisions hinged on advice from you. But you are such a narcissist that you can’t bring yourself to realize that outside the people living in your highway home, no one gives a sh!t what you have to say on the matter. You come here everyday and spend hours writing posts that you beleive will enlighten us all with your brilliance. You are a sick person. The self-centeredness is destroying you.
I went to Union MVC, it wasn’t bad 30 minutes.
I have found the IPA mono-culture of so many of these microbrews to be tired, hopefully we will get some variety again. I love an IPA as much as the next guy but variety is the spice of life….
Homeboken,
Are you serious? Narcissistic? Wtf? Do you know the kind of abuse I took on this board for claiming that the stock market and housing market are not crashing, instead, that it was a very good time to buy. How many times did I call out fast Eddie and the likes about housing? You have some nerve. This is why I always point out my calls…I was bashed to no end for making them, and then when they hit, I was put down some more…..a-holes like lefty now claim it was inevitable, anyone could have made that call. What a bunch of rubbish. That’s what I was saying all along, it’s inevitable, but conditions at the time made everyone think it was all over. So I was called an idiot, over and over again. Be a man, and stop bashing me, and instead acknowledge I bring major value to the table.
And now for some good news from my neck of the woods: https://www.tapinto.net/towns/flemington-slash-raritan/articles/buyer-emerges-for-mercks-former-readington-headq
Sitting here reading today’s enlightened discussion – very informative with varied opinions among the usual cast of characters. One comment about small businesses in NJ: I held a f/t IT job for the 14 years with my last company until my age got above 60 and they determined that they had enough of my bloated salary (hehe) and my ‘I don’t give a sh..t’ attitude. I didn’t give a hoot because I had a small side business that paid for my kids education and other nice things. The company did not know this. Well, after having been given the boot, I immediately stepped into my brick and mortar retail business and upped sales by 40%. Within 1 year, a gentleman walked in unannounced and asked if I was looking to sell. The answer, of course, was ‘it depends’.
The business was sold this past July and I am retired with several income properties as my main source of income. No debts other than those on the income properties. You are a fool if you don’t leverage these.
Now, my business was sold on a Monday. I told my employees that they would get a goodbye bonus from me if they kept the shop running through the weekend. Two didn’t show up. Foreign born types. I nixed their bonuses. The one that did get the bonus was born and raised in central Jersey. Hard working kid who never complained. That kid may make it someday. The others went home to mama.
BTW,
Puzzy N Boots, you can call me a racist as much as you want. In the back of my mind, I feel sorry for you. Your writings indicate your displeasure and disgust with the world and you feel you are helpless in changing it. Take a risk and put some money where your mouth (and fingers) is. I put up almost 7 figures to acquire my business. I know you can’t do the same. But, see how it feels when you have government authority deciding if you survive, die or prosper at a business and then let me know how Social Justice is supposed to help the common good.
Some one just told me that home equity interest deduction was out in the new tax plan which I knew. But they also said its not grandfathers. Also apparently transit subsidies for commuting are out as well.
Lib, thx on the food and beer.
Phoenix, one other thought (more may pop up). Lawyer will tell you that ‘segregated’ funds aren’t subject to equitable distribution. I heard it but it didn’t really click until right at the end. Had a small distribution from a pension interest from my first job that I threw into an IRA way back when. Did absolutely nothing with it – no additions, no transfers to other accounts. Grew to a decent size. Since it pre-dated my marriage and was not touched during the marriage it was outside ED. Think hard if you have anything similar. Although I did not test this, I don’t see why the same wouldn’t apply to other assets like collectibles. Key seemed to be no co-mingling with funds earned during the marriage.
Went to Randolph MVC. Was closest. Thirty minutes total in two separate lines and out the door. Though, they really should have separate lines for quick stuff and not so quick stuff. The amount of time someone actually worked with me was three minutes. And most of that three minutes was waiting for the license to output from the printer. On the bright side, everyone was pleasant including most of the customers. I’ve been to a few DMVs in the ghetto and the experience is pretty degrading. Everyone seems to hate the world.
But that is why it is a ghetto.
Hell or heaven is made by people. Look around at the “feelings” present in cr6pholes vs nice spots
Full disclosure – I’m atheist.
I’ve been to a few DMVs in the ghetto and the experience is pretty degrading. Everyone seems to hate the world.
Verified account
@Breaking911
9m9 minutes ago
More
JUST IN: AT&T announces it will “pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees” due to tax reform passage and will also increase US capital spending by $1 billion – CNBC
re: AT&T – Sure it’s just altruism…However they really want that 85 Billion dollar Time Warner merger to go thru, so far Trumps DOJ says no deal.
Murphy is getting sh!t done. You guys only hate him because he is a centrist on the DEMOCRATIC platform. Give the guy a chance for god’s sake. Democrats in this state gave a Republican named Christie a chance for 8 years.
http://www.northjersey.com/story/news/watchdog/2017/12/20/phil-murphy-calls-nj-transit-national-disgrace/968500001/?for-guid=306b3196-36ab-e611-b81c-90b11c341ce0
My take on the local Brewery’s, not tanyone cares
Czig – Great atmosphere especially in the summer, always new beers on tap
Man Skirt – Great Porter
Jersey Girl- not a big fan
Magnify- decent overpriced and over hyped IPA’s
Cricket Hill- oldest and favorite, as someone said it like hanging out in your friends basement
Ramstein – good beer and they even buy you some rounds, very little selection at the brewerey
Nj is dying, just can’t do business here (sarcasm). No, we just had to get rid of all the bitches that complain, and do nothing about their situation, but bitch about nj govt and taxes.
Xolepa says:
December 20, 2017 at 12:58 pm
And now for some good news from my neck of the woods: https://www.tapinto.net/towns/flemington-slash-raritan/articles/buyer-emerges-for-mercks-former-readington-headq
Lamest excuse for a failing business….blaming taxes. Give me a break!!
Cricket Hill is extremely serviceable. It’s probably the best for the restaurant crowd and they are making serious inroads there. Agree on Magnify 100%. Good but not worth it. Much like my buddies Ironbound Cider. Excellent Cider, but not at $3 a can retail. Will try Ramstein next time I’m out there. Almost stopped in after my DMV stop, but had conference call to deal with. Never had Czig or Man Skirt, but heard of the latter. Love Porters the best so will have to try it.
Ever have Purple Monkey Dishwasher? It’s my favorite Asian noodle pairing.
Ever have Purple Monkey Dishwasher?
Never had it, but I have had some of there other stuff
https://www.wsj.com/articles/house-tax-plan-isnt-amicable-to-divorcing-couples-1512149921
Kane is the best brewery in the state.
Yup. Great bar too.
The Liquor Factory in Byram has Kane Head High 64oz growler fills for $9,
Matt the owner of Czigmiester was Kanes head brewer.
Just because you don’t agree with what I say (prob out of pure hate), don’t act like I didn’t bring value to this board. If you would have listened to me 5 years ago about the stock market (except nhmd) and housing market, you would be sitting really nice right now with your investments. I like to think I brought sanity back to this blog when everyone was consumed with doom and gloom and obsessed with clot.
You didn’t make any recommendations on the stock market. Go link a post to prove us wrong.
New updated tax calculator ….http://taxplancalculator.com/calc
Go ask expat to do it. He seems to be good at that stuff.
I said over and over that the economy would get going by 2017/18, maybe have a quick correction, and then rip from 2019/20 to prob 2027-30 the latest. I said roaring 20’s 2.0 many times. I think that is enough to reference a stock market boom along with the entire economy.
With this new tax plan, I don’t think there will be a correction. This is pure jet fuel on the economy. Said it many time on here, this will be the best economic boom period of our life. Nothing will beat this. You will prob not see another demographic this large again, as the population levels off. That’s why I recommended over and over to get in, and then sell before it’s all over. Opportunities like this do not come around often….it’s like taking candy from a baby. It doesn’t get easier than this to make money from investments. Pros calling for low growth in the next decade are out of their f’en mind and are clearly looking at the wrong indicators to come to such a wrong conclusion.
Back around the 2003 era(can’t remeber what year exactly), my boy brought a keg of cricket hill to a camping trip/party we used to put together in my college days. This is when bud was king. Most people hated it. Were mad that he didn’t get a keg of yuengling. Now, everyone drinks craft beer. Times change.
You’re exactly right Pumps. All the “A” players here in Boston are only on top because they couldn’t keep pace with you fast guys, living on your fast roads, between your fast radioactive dump, and your fast flood plain in Passaic County. Manhattan is the pros. Bergen is AAA. The fringe of Pequonnock, Sussex, and Lincoln Park, I guess that is the unaffiliated independent league?
Let us know when you are throwing your GED graduation party.
The Great Pumpkin says:
December 20, 2017 at 9:33 am
Only the strong survive. Too bad there are a bunch of puzzies out there like yourself that can’t handle the economic competition nj brings. Run away for an easier competition you Puzzy while I reap the rewards a stronger competition brings to the winners.
My brother and another buddy are hardcore into craft brews. These guys trade beer cans on instagram. Crazy. Some really good sour beers. They go camp out overnight at breweries to get limited batches of what they claim is the goodness.
Expat,
Jersey has real players whether you realize it or not. Just open your eyes.
Back around the 2003 era(can’t remeber what year exactly), my boy brought a
kegloose case ofcricket hillSchmidt’s cans to acamping trip/Paterson back yard party we used to put together in mycollegepost office days. A couple guys puked. Good times, good times.Expat,
It’s alright, like I said, not everyone can play in the tougher divisions. Some have to leave to the lower divisions for that better life.
Yes, and guess who can’t even hold a parking valet job at their parties? I told you to just keep you mouth shut, rifle the car for valuables, and don’t *ever* try to give them penny stock advice. I guess the apple doesn’t fall far from his drunk Momma’s tree.
Jersey has real players whether you realize it or not. Just open your eyes.
Some can’t even get far enough down Route 3 to even catch a glimpse of the bright lights.
It’s alright, like I said, not everyone can play in the tougher divisions.
I just solved it! Polish Infant Alcohol Syndrome. Much worse than the regular kind.
AT&T (T) plans to give a special $1,000 bonus to more than 200,000 employees as Republicans get closer to signing tax reform into law.
“If the President signs the bill before Christmas, employees will receive the bonus over the holidays,” the company said in a statement.
Fedex is also forecasting phenomenal growth in 2018 and increased hiring.
It’s only beginning to ramp up. Sleep tight, my little snow flake puzzies.
The Boeing Co. is moving ahead on $300 million in charitable contributions and workplace investments as a response to the tax bill approved by Congress today.
The commitments were laid out in an announcement from Dennis Muilenburg, Boeing’s chairman, president and CEO. They’re well-timed to demonstrate how the bill’s cut in the corporate tax rate could encourage businesses to open their wallets wider.
“On behalf of all our stakeholders, we applaud and thank Congress and the administration for their leadership in seizing this opportunity to unleash economic energy in the United States,” Muilenburg said. “It’s the single most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country.”
Boeing said the $300 million includes:
$100 million for corporate giving, with funds used to support demand for employee gift-match programs and for investments in Boeing’s focus areas for charitable giving: in education, in community development, and for veterans and military personnel.
$100 million for workforce development in the form of training, education and other capabilities development to meet the scale needed for rapidly evolving technologies and expanding markets.
$100 million for “workplace of the future” facilities and infrastructure enhancements for Boeing employees.
https://www.geekwire.com/2017/boeing-ceo-dennis-muilenburg-unveils-300m-initiatives-response-tax-bill/
I’ve been to a few DMVs in the ghetto and the experience is pretty degrading. Everyone seems to hate the world.
Sound like Boston.
I’m still waiting for my wage growth. At my company, it feels more like the Dust Bowl then the Roaring Twenties. We’ve had more RIFs than Sears.
Economic growth boom just getting started etc So he likes the tax plan?
If home equity loans are no longer tax deductible that could put downward pressure on college costs. People may think twice before going that route to pay for college,
http://www.kanebrewing.com/
This place?
Mike S says:
December 20, 2017 at 3:18 pm
Kane is the best brewery in the state.
Libturd sporting Tiger Wood says:
December 20, 2017 at 3:21 pm
Yup. Great bar too.
Yep
Kane is the real deal.
LOL. I think you are working too hard, grim. The dying words of precious few people are, “I wish I worked more.”
I’ve been to a few DMVs in the ghetto and the experience is pretty degrading. Everyone seems to hate the world.
Sound like Boston.
Did you ever notice that clinical depression seems to require a certain amount of intellect as a prerequisite? I’m thinking of Jackson Brown’s lyric, “I want to be a happy idiot and struggle for the legal tender”
I’m pretty sure Pumpkin has never been depressed a day in his life.
Yes, I like this tax plan. The last minute changes really made a big difference.
3b says:
December 20, 2017 at 7:54 pm
Economic growth boom just getting started etc So he likes the tax plan?
I mean, it’s really hard to not like. Def needed to lower corporate tax rate to remain competitive, and I’ll take the rocket fuel with this excess money pumped into the private sector side of the economy. Thank you, Republicans.
BTW, Jim Acosta has a modest $600K house, bought in 2008, in Arnold, MA. It was pretty easy to find and verify. He even has an instagram picture of his son catching snow flakes and the house across the cul-de-sac in the background is plainly proof of address. I’m hoping he has a $2 or $3 million condo in DC. His soon-to-be ex-wife is a nurse, and not a hot one.
Arnold, MD, that is.
It punished people in my income bracket severely before the last minute changes were implemented. I’m serious, I was going into a higher income bracket and losing crazy amount of deductions before the last minute changes. I assume a good portion of the upper middle class were in my predicament. We drive the economy, and this would have hurt the economy because we spend a lot. Taking ten to twenty thousand out of my consumption and investment fund is going to hurt it. Smartly, they made big adjustment in brackets and helped upper middle class.
Unbelievable! Screams for weeks that the tax reform plan is horrible trump is horrible. A small bone is thrown back with state or local taxes allowed but only one and capped at 10k. Now he loves the plan!! The same person I believe who was saying that corporations tax rates did not need to be lowered as they already are low. Now he claims it was needed! Just unbelievable! You can’t make this stuff up!
Small bone? 9% decrease in my tax bracket bill.
This proves I’m not some leftist hack. I’m a centrist. Do right by me, and I have no problem changing sides. Do you understand what a 9% difference is for me? It’s a drastic difference. Go fromgetting killed, to some relief, or even paying a little more. You have no idea how bad I was getting killed before. It’s not right to call it a tax cut, and have individuals literally getting killed.
And I’m not an anomaly. That’s why it’s bad for the economy if they kept it as the original plans. Consumption and investment would get hurt big time. Why would you hurt drivers of the economy.
This proves I’m not some leftist hack. I’m a centrist.
No it doesn’t. It just proves you have no ability to stick to an argument and contradict yourself at every turn.
Tax brackets adjusted modestly in my opinion in the scheme of the over all tax reform and now you love it. It’s great! It’s what we need. You screamed about greedy trump greedy republicans greedy corporations. And now its great it’s what we needed!! At least the posters on this board who identify as liberals are consistent. You on the other hand are all over the place and that’s being kind. Oh and this tax reform is still going to negatively impact housing prices in this area. In the end that’s all that matters to you. Now I go back to ignoring.
True Greatness.
https://www.politico.com/story/2017/12/20/new-paycheck-rules-tax-bill-leave-employers-scrambling-252542?lo=ap_b1
Oh one final point. There will be individuals getting killed as you say with this tax reform.
9% difference is modest?
Call it self preservation or whatever you want, when I get a 9% reduction in my income bracket, I would have to be insane to complain,
Do you know how much money that is?!
I bet in person Pumps runs his mouth constantly and people just tune him out like he is white noise, which, pretty literally, sums up exactly what he is.
In the words of Charlie Murphy, if you give me a 9% reduction, fu*k your salt deductions!
Daddy,
💕🎃
^^^ Your best post ever. Proud of you, son.
Learn from the best!
‘”New Jersey was never a low-cost state to live in. We were always on our best day, the good-value-for-money state,” Murphy said. “You pay a premium to live in a state like ours, but you get a lot back for that. Our job is to make folks feel like … that premium was worth it.”
So did everyone get their holiday reach around from Trenton?