Search found 237 matches

by PluckyDucky
Thu May 07, 2020 9:36 am
Forum: Personal Finance (Not Investing)
Topic: How does SE get PPP loan forgiven?
Replies: 37
Views: 2916

Re: How does SE get PPP loan forgiven?

So for a self-employed person with no employees whose 2019 Schedule C net profit was $200,000 ($3,846/week) and who receives a PPP loan of $20,833, $15,385 of the loan would be forgiven under clause i above and the remainder of the loan would be forgiven under clause ii above. Is that not correct? ...
by PluckyDucky
Wed Apr 29, 2020 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: PPP Loan ethics
Replies: 56
Views: 3689

Re: PPP Loan ethics

It's your call. I've seen well capitalized law firms, doctors offices, and financial advisory firms apply. They may be audited and subject to criminal penalties, especially if their business continued without interruption. Remember, it is called Paycheck Protection Program...not Profit Protection P...
by PluckyDucky
Fri Apr 17, 2020 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: How does SE get PPP loan forgiven?
Replies: 37
Views: 2916

Re: How does SE get PPP loan forgiven?

Due to the 75/25 payroll forgiveness rule SBA created, it is impossible to get 100% forgiven for self employed, assuming you take the full 2.5 loan amount. Loan amount = monthly average*2.5 = NetProfit/12*2.5 SE Payroll Forgiveness amount = weekly average*8 = NetProfit/52*8 (this is a limitation im...
by PluckyDucky
Fri Apr 17, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: How does SE get PPP loan forgiven?
Replies: 37
Views: 2916

Re: How does SE get PPP loan forgiven?

Due to the 75/25 payroll forgiveness rule SBA created, it is impossible to get 100% forgiven for self employed, assuming you take the full 2.5 loan amount. Loan amount = monthly average*2.5 = NetProfit/12*2.5 SE Payroll Forgiveness amount = weekly average*8 = NetProfit/52*8 (this is a limitation imp...
by PluckyDucky
Fri Apr 17, 2020 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 615
Views: 31936

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

On the SBA PPP, someone that made comment on Regulations.gov pointed out an ironic oversight due to the 75/25 payroll requirement created by SBA for forgiveness (not in the law though). The loan amount is monthly average*2.5 But the forgiveness amount for payroll is weekly average*8 but also can't h...
by PluckyDucky
Wed Apr 15, 2020 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Sole proprieter PPP loan
Replies: 27
Views: 1916

Re: Sole proprieter PPP loan

... DOCUMENTATION.—An eligible self-employed individual, independent contractor, or sole proprietorship seeking a covered loan shall submit such documentation as is necessary to establish such individual as eligible, including payroll tax filings reported to the Internal Revenue Service, Forms 1099...
by PluckyDucky
Wed Apr 15, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Sole proprieter PPP loan
Replies: 27
Views: 1916

Re: Sole proprieter PPP loan

WhyNotUs wrote:
Wed Apr 15, 2020 2:47 pm
Form an oversight perspective, the rule refinements seem to make sense. Thanks for posting the link!
How so?

The Schedule C is not any more verifiable than a P&L.
by PluckyDucky
Wed Apr 15, 2020 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 615
Views: 31936

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

SBA released new regs on schedule C/K1 income. https://home.treasury.gov/system/files/136/Interim-Final-Rule-Additional-Eligibility-Criteria-and-Requirements-for-Certain-Pledges-of-Loans.pdf They are limiting forgiveness to 8 weeks of 2019 net income, despite the fact that the law says the 1-year pe...
by PluckyDucky
Wed Apr 15, 2020 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Sole proprieter PPP loan
Replies: 27
Views: 1916

Re: Sole proprieter PPP loan

SBA released new regs on schedule C/K1 income. https://home.treasury.gov/system/files/136/Interim-Final-Rule-Additional-Eligibility-Criteria-and-Requirements-for-Certain-Pledges-of-Loans.pdf They are limiting forgiveness to 8 weeks of 2019 net income, despite the fact that the law says the 1-year pe...
by PluckyDucky
Mon Apr 13, 2020 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Can I apply for PPP if I have no home office?
Replies: 12
Views: 766

Re: Can I apply for PPP if I have no home office?

I am waiting on the forgiveness guidance, which is supposed to come out soon. But I haven't seen anything that says you can't get a pay raise or give your employees a pay raise during the 8 week period. So you spent the 2.5x amount on payroll (which happens to be net earnings for sole prop/self empl...
by PluckyDucky
Thu Apr 09, 2020 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Self-employed PPP payroll calculation if haven't filed 2019 taxes yet?
Replies: 1
Views: 190

Re: Self-employed PPP payroll calculation if haven't filed 2019 taxes yet?

The CARES Act says to use your net earnings for the 1-year period prior to loan origination.

SBA and banks haven't been following the law exactly, instead allowing either 2019 tax year docs or 1-year prior.

So you can create a P&L sheet for the 1-year period prior and use that.
by PluckyDucky
Sun Apr 05, 2020 3:00 pm
Forum: Investing - Theory, News & General
Topic: Payment Protection Program question
Replies: 10
Views: 719

Re: Payment Protection Program question

So previous threads have discussed details of this program. Does anyone have any info as how to actually apply for the loan? My preliminary investigations have revealed that unless you already have some kind of loan relationship with a bank they are unwilling to consider you at this time. They are ...
by PluckyDucky
Sat Apr 04, 2020 2:07 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

... If the question is "payroll costs" on the application, you may include "wage, commissions, income, or net earnings from self-employment or similar compensation." However, if the provision in the SBA is only referring to the forgiveness aspect of the loan, then payroll is still payroll. Unless y...
by PluckyDucky
Sat Apr 04, 2020 2:05 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

Say one was a 100% owner of an S Corp, with its only employee being the 100% owner. Say said owner took about 50% in W-2 wages and 50% in cash distributions in 2019. Can said owner only consider the W-2 wages in the 2.5x calculation for PPP? Or all? Only the W2 wages. Wrong, "payroll costs" is defi...
by PluckyDucky
Sat Apr 04, 2020 2:05 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

I have a similar question (posted earlier on similar thread here). My small business, a retail store, is an LLC taxed as a sole proprietor— in other words, I don’t pay myself with a w2 but rather report my income on a schedule C. I also have two full-time employees, who get W2s. Do I check the box ...
by PluckyDucky
Sat Apr 04, 2020 2:02 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

I have a similar question (posted earlier on similar thread here). My small business, a retail store, is an LLC taxed as a sole proprietor— in other words, I don’t pay myself with a w2 but rather report my income on a schedule C. I also have two full-time employees, who get W2s. Do I check the box ...
by PluckyDucky
Fri Apr 03, 2020 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Banks doing SBA PPP that actually have the correct process?
Replies: 12
Views: 997

Re: Banks doing SBA PPP that actually have the correct process?

You have to find a local bank that is taking apps. There are at least 5 in my area, now 6 as of 430 pm. I know at least one is already submitting to SBA. Some are doing existing customers only/first, while others are first come first serve. ETA: Yes this is my thread. I found some local ones after I...
by PluckyDucky
Fri Apr 03, 2020 7:37 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

I did not say that and I'm pretty sure the article didn't say that either. Therefore, I'm confused as to where the confusion is. I guess it goes back to the law that was passed, which doesn't distinguish IC, SP, or SE. They are all the same to me. ETA: I mean from the perspective of the person bein...
by PluckyDucky
Fri Apr 03, 2020 6:37 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

Not yet! April 10th is when they can apply. https://www.inc.com/kevin-j-ryan/small-business-loans-1099-independent-contractors.html Aren't independent contractors sole proprietors of their own business? I would say so. Thus, they can apply today. Technically yes, but 1099 contractors with a sole so...
by PluckyDucky
Fri Apr 03, 2020 5:35 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

The answer to this is no. It is explicitly discussed in the interim rule published last night. However you may want to let them know, independent contractors can apply for this themselves. Not yet! April 10th is when they can apply. https://www.inc.com/kevin-j-ryan/small-business-loans-1099-indepen...
by PluckyDucky
Fri Apr 03, 2020 3:53 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

How appropriate is it for someone who always files schedule C as a sole proprietor for side hustle work, to pursue this program? My side hustle is basically what I do for my main employer, but I am also free to offer services independently. That has all dried up and I’m wondering if I might get som...
by PluckyDucky
Fri Apr 03, 2020 3:52 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

Another question: most of our people are W2, but three work for us as independent contractors. Can the money we pay them be included in the loan amount? The answer to this is no. It is explicitly discussed in the interim rule published last night. However you may want to let them know, independent ...
by PluckyDucky
Fri Apr 03, 2020 1:47 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

... But you did that at 12:01 am today. Some other commentators said they'd already submitted the loan prior to today at 12am. And that is true. People were submitting apps to banks with info expected to be required. The loan app changed again last night/this morning, so they all had to resubmit ap...
by PluckyDucky
Fri Apr 03, 2020 1:46 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

I think all of us that applied for the loan are in the same boat. We're hoping we've got everything in early enough and our bankers don't sleep in tomorrow. I'm like everyone else, either the system will crash or they will place a last minute delay on everything to get kinks worked out through the ...
by PluckyDucky
Fri Apr 03, 2020 1:40 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9487

Re: Cares Act Payroll Protection Program

kmurp wrote:
Tue Mar 31, 2020 4:32 am
Another question: most of our people are W2, but three work for us as independent contractors. Can the money we pay them be included in the loan amount?
The answer to this is no. It is explicitly discussed in the interim rule published last night.
by PluckyDucky
Thu Apr 02, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Banks doing SBA PPP that actually have the correct process?
Replies: 12
Views: 997

Banks doing SBA PPP that actually have the correct process?

Has anyone figured out banks that have the SBA PPP process correct yet? One bank (Prosperity) sent the old 7a stuff, not the SBA PPP stuff and are requiring personal financial statements. Why? There's no guarantee. I'm trying to check other banks to figure out what's going on, but have had no succes...
by PluckyDucky
Thu Apr 02, 2020 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Taking SBA Loan When Not Absolutely Needed - Moral Considerations
Replies: 18
Views: 1494

Re: Taking SBA Loan When Not Absolutely Needed - Moral Considerations

Who's to say what the future holds? You may be good today due to savings or revenues, but if this goes longer, you're out of luck. You'll wish you had the money then.
by PluckyDucky
Mon Mar 16, 2020 3:00 pm
Forum: Investing - Theory, News & General
Topic: Companies going out of the index when not adding new money
Replies: 6
Views: 413

Re: Companies going out of the index when not adding new money

Yes the components get changed behind the scenes so to speak. You own shares or units of the fund, which represents a % of the components.
by PluckyDucky
Mon Mar 16, 2020 9:11 am
Forum: Investing - Theory, News & General
Topic: WisdomTree 90/60 U.S. Balanced Fund [NTSX]
Replies: 292
Views: 22371

Re: WisdomTree 90/60 U.S. Balanced Fund [NTSX]

NTSX is showing down 17.6% right now with SPX only down 9.67% per Yahoo Finance.

:shock:
by PluckyDucky
Tue Feb 18, 2020 8:37 pm
Forum: Investing - Theory, News & General
Topic: Fascinating take on a rebalanced Permanent Portfolio - BreakingTheMarket.com
Replies: 124
Views: 11576

Re: Fascinating take on a rebalanced Permanent Portfolio - BreakingTheMarket.com

To put it simply, it looks like he rebalances with the Kelly criterion and leverage. You don't need to actually use leverage due to the 3x stock and bond funds. So you allocate cash and gold then fit the rest using the leverage funds as needed

Correct?

ETA: how is he choosing weights?
by PluckyDucky
Mon Feb 17, 2020 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Entry-Level Jobs with Pensions - What companies still offer pensions these days?
Replies: 155
Views: 12324

Re: Entry-Level Jobs with Pensions - What companies still offer pensions these days?

A mythology has grown up around the “lost paradise” of the company pension. While for high-ranking corporate executives with retirement payouts amounting to golden parachutes, the pension could be a windfall to celebrate, for most rank-and-file union employees, pension payouts, when they were aroun...
by PluckyDucky
Thu Feb 13, 2020 5:32 pm
Forum: Investing - Theory, News & General
Topic: Challenge: Fastest way to lose money in the market?
Replies: 85
Views: 5220

Re: Challenge: Fastest way to lose money in the market?

Even better.

Before putting in buy orders in your Nemesis's account for zero-day far OTM options, put in sell orders in your account.

Then you get all his money.
by PluckyDucky
Thu Feb 13, 2020 5:01 pm
Forum: Investing - Theory, News & General
Topic: Challenge: Fastest way to lose money in the market?
Replies: 85
Views: 5220

Re: Challenge: Fastest way to lose money in the market?

Tell me if I'm wrong: A high-risk options play that can wipe your position in only a day could just as easily make your nemesis filthy rich in one day. Am I right? Furthermore, the expected return of the option should be positive. If markets are even remotely efficient, we shouldn't be able to find...
by PluckyDucky
Thu Feb 13, 2020 4:57 pm
Forum: Investing - Theory, News & General
Topic: Challenge: Fastest way to lose money in the market?
Replies: 85
Views: 5220

Re: Challenge: Fastest way to lose money in the market?

zero-day way OTM options.

99.999% chance of ruin in 1 day

0.0001% chance of fantastic success in 1 day.
by PluckyDucky
Thu Feb 13, 2020 11:58 am
Forum: Investing - Theory, News & General
Topic: Can a company buy itself?
Replies: 31
Views: 2036

Re: Can a company buy itself?

Okay, I'll give in and admit that this is legally impossible under current law. But from a logical standpoint, I don't see any problem with writing a law that allows for-profit companies that have no owners. The structure could be much the same as non-profits under current law, except that each yea...
by PluckyDucky
Thu Feb 13, 2020 11:51 am
Forum: Investing - Theory, News & General
Topic: Can a company buy itself?
Replies: 31
Views: 2036

Re: Can a company buy itself?

Is that legally possible?

Who is the owner? A company that owns it self should cease to exist, just like when a trustee and beneficiary are the same, the trust merges.

https://en.wikipedia.org/wiki/Merger_do ... trust_law)
by PluckyDucky
Tue Feb 04, 2020 3:09 pm
Forum: Investing - Theory, News & General
Topic: Why many inheritances don't last past 3 generations
Replies: 144
Views: 17860

Re: Why many inheritances don't last past 3 generations

The examples I've seen in my life, it's almost always bad financial management mixed with lifestyle creep. I really don't think it's a mathematical problem at all in terms of descendants or GDP. To be fair, things like index funds weren't really in the mix 90 years ago, so who knows if that changes...
by PluckyDucky
Fri Jan 31, 2020 5:37 pm
Forum: Investing - Theory, News & General
Topic: How do brokerages make money if no commissions?
Replies: 6
Views: 1088

Re: How do brokerages make money if no commissions?

Interest on deposits Payment for order flow Similar to payment for order flow but for mutual funds (e.g. Schwab OneSource). There was an article posted before about Schwab and TD Ameritrade. Schwab makes the bulk of its money from interest on deposits while TDA doesn't. TDA has a contract with a ban...
by PluckyDucky
Thu Jan 30, 2020 5:49 pm
Forum: Investing - Theory, News & General
Topic: WisdomTree 90/60 U.S. Balanced Fund [NTSX]
Replies: 292
Views: 22371

Re: WisdomTree 90/60 U.S. Balanced Fund [NTSX]

"ok, so you're telling me in all the creativity you see on Wall Street, no one has thought of this before now and securitized it?" It isn't the first time (though I have to say there's always a first time for everything). See the PIMCO StocksPlus funds, e.g. PSLDX - they've been around since 2007. ...
by PluckyDucky
Wed Jan 29, 2020 8:46 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 4906
Views: 423917

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

Anybody see this notice from Proshares? https://www.proshares.com/important_notice.pdf The SEC is apparently trying to make it more difficult to buy leveraged funds. Does it apply to the plain multiple funds like SPXL/TMF/UPRO or does it apply to funds like NTSX too? ETA: SEC doc: https://www.sec.go...
by PluckyDucky
Wed Jan 29, 2020 1:00 pm
Forum: Investing - Theory, News & General
Topic: What to pair with NTSX?
Replies: 222
Views: 15200

Re: What to pair with NTSX?

The Sharpe Ratios for a Simulated NTSX and an Actual 60/40 Portfolio over a longer duration are the same, at 0.64. https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=1985&firstMonth=1&endYear=2019&lastMonth=12&calendarAligned=true&initialAmount=10000&annualOperation=0...
by PluckyDucky
Tue Jan 28, 2020 5:57 pm
Forum: Investing - Theory, News & General
Topic: Crashes and Crises all seem to have one thing in common
Replies: 29
Views: 1659

Crashes and Crises all seem to have one thing in common

I'm listening to the Great Courses series of lectures on Crashes and Crises on Audible. https://www.thegreatcourses.com/courses/crashes-and-crisis-lessons-from-a-history-of-financial-disasters.html It's basically a history of many of the significant crashes and crises throughout history. I'm halfway...
by PluckyDucky
Wed Jan 22, 2020 5:29 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's new game - has anyone played it?
Replies: 21
Views: 4647

Re: Vanguard's new game - has anyone played it?

I agree the car question is not good.

On the flip side, one of my cars is a 20-yr old SUV that keeps chugging along. I spent less on it than I would have buying a new car, especially factoring in insurance, registration, and taxes.
by PluckyDucky
Wed Jan 22, 2020 11:20 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 4906
Views: 423917

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

rascott wrote:
Wed Jan 22, 2020 9:47 am
I initiated a 100% TQQQ position in August. It is now a few points from a 100% return.... parabolic doesn't begin to describe.
That's maximum pucker factor right there.
by PluckyDucky
Tue Jan 21, 2020 2:37 pm
Forum: Personal Investments
Topic: Deploying a $40m windfall in current market conditions
Replies: 60
Views: 8896

Re: Deploying a $40m windfall in current market conditions

First figure out how you're going to protect your assets. Also consult an expert who can tell you if you can 1031 exchange your current business into an "investment" business. The investment business would serve you, pay you a salary, and protect your money from claims against you personally. Other ...
by PluckyDucky
Tue Jan 21, 2020 10:13 am
Forum: Personal Consumer Issues
Topic: Looking for a good duplex scanner
Replies: 22
Views: 1133

Re: Looking for a good duplex scanner

I've used the Scansnap and Epson. The Epson is easier to use than the Scansnap and the software is more useful.

The Scansnap has a better ability physically to scan misshapen documents. Epson can still do it though.
by PluckyDucky
Mon Jan 20, 2020 5:05 pm
Forum: Investing - Theory, News & General
Topic: Where does the money go when the S&P goes down?
Replies: 53
Views: 6735

Re: Where does the money go when the S&P goes down?

Interesting example is AAPL shares sold for 75 cents during the flash crash of 2010. Supposedly what happened is algo traders stopped trading because there was an issue, so there were NO bids/asks on the market except for market makers providing stub quotes of 75 cents and people with market orders....
by PluckyDucky
Mon Jan 20, 2020 10:04 am
Forum: Investing - Theory, News & General
Topic: [Deleted] [Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund]
Replies: 652
Views: 68392

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

Has anyone played around with the charts on portfoliocharts.com for NTSX? You can't pick the fund exactly, but you can do 90% TSM, 60% IT, -50% Cash or BIL.

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