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Tom Hagen

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About Tom Hagen

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  1. $56,000 for 2019, $62,000 if the employee is over 50.
  2. There is no way his tax return would be that simple. Most likely, his share of income or loss from all the LLC's listed in your link would pass through and be reported on his personal tax return. There is a good chance that some or all of the corporations listed would be S corps which also would pass through earnings or losses to be reported on his personal return. I don't know if any of that would be meaningful, but it wouldn't be simple.
  3. This is my approach, I count it as part of my net worth but do not count it for retirement planning. My net worth calculation is essentially a personal financial statement I could give to a lender if necessary, as such my home needs to be accounted for.
  4. You are probably right about this within the confines of the PSF but I think @krista4 made a fantastic point about how interacting with people in the FFA or Shark Pool can change your perspective when reading their posts in the PSF. There are a few posters that come to mind that I disagree with politically but enjoy reading elsewhere so I am less inclined to be snarky.
  5. KAT’s mother was screaming at Embiid and giving him the finger as he walked down the tunnel. She injected herself into the situation and was not an innocent bystander.
  6. @culdeus is right. Because the mandatory contributions are a condition of employment they are not considered elective and do not count toward the annual limit on elective deferrals. Even though they are withheld from employee wages, they are deemed to be employer contributions for purposes of the contribution limit. It appears this is generally a collective bargaining agreement item. I would provide a link but there is no one clear and concise explanation I could find. 401(k) do not allow a mandatory deferral, the employee must be given the ability to opt out of contributions. My guess is that the mandatory contributions will show up in Box 14 of the W-2 while the elective contributions show up in Box 12. I learned something new today.
  7. I was not aware of that. Is the 2% withheld from her pay pre-tax? How does it show on her W-2?
  8. A few years ago, I was at the Williamsburg Hooters at like 10pm on a Saturday and I think they were getting ready to close because we were the only people there. We only ended up there because we couldn't find anything else open. GL
  9. The bolded is an unfair generalization. For example, Simone Biles and Aly Raisman are doing fantastic work holding USA Gymnastics and the USOC accountable for the abuse they allowed to happen.
  10. IMO, using such a formula for a wealth tax would not account for the value of assets held in a business. If 2 manufacturers have identical cash flow but one leases its facility and the other owns its facility free of debt, they would not be worth the same.
  11. Not anymore, no more NOL carry back with the new tax law. Carry forwards are limited to 80% of current year income as well.
  12. Sounds like he was fine and the reason he didn't return to the game was because it happened relatively late.
  13. That’s what I love about these academy kids, I get older they stay the same age.
  14. I thought he said it was a snake draft?