Well let's be honest, nobody thought the move to 80 proof was good for business.

Well, it's better than some players losing all their money on hookers and blow. At least he attempted to grow a brain

I can't believe the 1% includes someone with a neckbeard.

Weigard: I can't believe the 1% includes someone with a neckbeard.

He got 9 million to be the sacrificial lamb this year to Tebow. I don't feel bad for him at all.

merkey88: Weigard: I can't believe the 1% includes someone with a neckbeard.

He got 9 million to be the sacrificial lamb this year to Tebow. I don't feel bad for him at all.

That.

Adolf Oliver Nipples: I'd feel bad for him, but since it was a tax reduction maneuver I just can't bring myself to that point. Having to pay large amounts of taxes is a problem that, frankly, I would love to have.

And that.

/I just made a huge investment in... lotto scratch tickets. That's the ticket, yeah

Gonz: //Makers is better.

yum

merkey88: Gonz: //Makers is better.

yum

Aw, let's not discriminate. I love my whisky like I love my women... All of them.

/Was actually at Woodford yesterday, sixth time

Dave Grohl played for the Bears?

Oil and gas tax shelter partnerships? How very 80s. But these were always risky business: tax reduction strategies require economic substance and/or a business purpose,* and these shelters very often fell short. Anyone who entered one of these things did so at his own peril. Worse, what's happening now is that courts are finding that taxpayers can't avoid penalties just by relying on an opinion of counsel, where counsel was known to be making unrealistic assumptions. (You can't just assume a business purpose or profit potential.) Taxpayers knew they were taking the risk of it not working and having to pay the tax, but thought the opinion of counsel could insulate them from penalties. These guys have been going down like flies for several years now.

* more stringent now under new IRC section 7701(o), but always an issue

/I kill it at cocktail parties
//even more so with a little Makers

Waaah...you lost money trying to get a tax break. you're already a millionaire, why even RISK losing your money like that with some risky tax shelter deal? Sheesh...come on man.

When you have big bucks, anything pitched to you as an investment will be a scam. Even if you don't, most things pitched to you as in investment will be a scam. Just save your money, don't gamble with it.

If you don't have much experience with lots of money, it's probably tough to figure out what the legit business moves are once you get to that higher level.

Shiat, I was wondering the other day what I'd do if I ever hit that $100 million jackpot (not likely, as I never play). What do you do first? Call your bank? Your bank account is only insured by the gov't up to $250,000. Have separate accounts? I kind of know a financial advisor, but he's never handled that big a deal that I know of.

Orgasmatron138: If you don't have much experience with lots of money, it's probably tough to figure out what the legit business moves are once you get to that higher level.

Shiat, I was wondering the other day what I'd do if I ever hit that $100 million jackpot (not likely, as I never play). What do you do first? Call your bank? Your bank account is only insured by the gov't up to $250,000. Have separate accounts? I kind of know a financial advisor, but he's never handled that big a deal that I know of.

With $100 mil (or $60 mil after taxes), why would you need to take any risky investments? If you don't spread out the payment over the years (what is it, 40 years?) you can just live off the interest comfortably, of course after buying such things as a new home and car.

Orgasmatron138: If you don't have much experience with lots of money, it's probably tough to figure out what the legit business moves are once you get to that higher level.

Shiat, I was wondering the other day what I'd do if I ever hit that $100 million jackpot (not likely, as I never play). What do you do first? Call your bank? Your bank account is only insured by the gov't up to $250,000. Have separate accounts? I kind of know a financial advisor, but he's never handled that big a deal that I know of.

First thing: Get a lawyer and an accountant (shell out the money for good ones). If you don't know where to find one, walk up to rich people and ask them who they use and if they like them. Seriously: I'd just find the nicest houses around, go knock on the front door, and ask them who they use and if they like them.


For the most part, "financial advisors" are for people who cannot afford accountants and lawyers, and most of them are selling snake oil. There are some good ones who can manage wealth, but if you were to use one, it should only be on the approval of the lawyer and accountant you have on retainer (and any plans they provide should also be approved by the lawyer and accountant). Note that this adviser should be "flat fee": you pay him directly for his advice and he makes no commission on your investments.

/ I don't play lottery either, but did look into how to handle a windfall. already have my lawyer and accountant picked out :)

Gonz: funk_soul_bubby: Well let's be honest, nobody thought the move to 80 proof was good for business.

Actually, Brown-Forman dropped the proof of Jack Daniels' from 90 to 86, and then to 80 precisely because they thought it would be good for business. That's why I boycott Brown-Forman.

//Makers is better.

I still like Jim Beam as an every day drinker.

I've been making Manhattans with rye whiskey now and they are much better than with bourbon.

ScreamingHangover: First thing: Get a lawyer and an accountant (shell out the money for good ones). If you don't know where to find one, walk up to rich people and ask them who they use and if they like them. Seriously: I'd just find the nicest houses around, go knock on the front door, and ask them who they use and if they like them.

Second thing: Get a lawyer and an accountant to watch the first lawyer and accountant.

Third thing: Set up a blind trust.

Broktun: ScreamingHangover: First thing: Get a lawyer and an accountant (shell out the money for good ones). If you don't know where to find one, walk up to rich people and ask them who they use and if they like them. Seriously: I'd just find the nicest houses around, go knock on the front door, and ask them who they use and if they like them.

Second thing: Get a lawyer and an accountant to watch the first lawyer and accountant.

Third thing: Set up a blind trust.

Why a blind trust?

/trick question, people who use that term never know what it means

ScreamingHangover: Orgasmatron138: If you don't have much experience with lots of money, it's probably tough to figure out what the legit business moves are once you get to that higher level.

Shiat, I was wondering the other day what I'd do if I ever hit that $100 million jackpot (not likely, as I never play). What do you do first? Call your bank? Your bank account is only insured by the gov't up to $250,000. Have separate accounts? I kind of know a financial advisor, but he's never handled that big a deal that I know of.

First thing: Get a lawyer and an accountant (shell out the money for good ones). If you don't know where to find one, walk up to rich people and ask them who they use and if they like them. Seriously: I'd just find the nicest houses around, go knock on the front door, and ask them who they use and if they like them.


For the most part, "financial advisors" are for people who cannot afford accountants and lawyers, and most of them are selling snake oil. There are some good ones who can manage wealth, but if you were to use one, it should only be on the approval of the lawyer and accountant you have on retainer (and any plans they provide should also be approved by the lawyer and accountant). Note that this adviser should be "flat fee": you pay him directly for his advice and he makes no commission on your investments.

/ I don't play lottery either, but did look into how to handle a windfall. already have my lawyer and accountant picked out :)

In Soviet Canuckistan we don't get taxed at all on lottery winnings.

Lotto max is 50 million tonight I have a $60 investment on the go!