NWI Ingo General Post - Part 3

[jedi]

From what I have heard, going the quicken route won't work. There have been class 3 items confiscated because the quicken trust didn't meet the standards even after getting tax stamps with it.

Links to proof please?

 

[t_star]

It's not 100% impossible to get the signature up here, only 99.999999999% impossible without a trust.
The trouble with trusts and incorporations/llc's comes in when the wording isn't EXACTLY right.

Basically, it's a HUGE pain in the ass to get a tax stamp up here. Sounds completely worth it, IMHO.

 

[turnandshoot4]

From what I have heard, going the quicken route won't work. There have been class 3 items confiscated because the quicken trust didn't meet the standards even after getting tax stamps with it.

Link please. I have heard of more issues with trusts set up by actual lawyers than the quicken version.

Again, this is just rumor as well.

 

[jedi]

It's not 100% impossible to get the signature up here, only 99.999999999% impossible without a trust.
The trouble with trusts and incorporations/llc's comes in when the wording isn't EXACTLY right.

Basically, it's a HUGE pain in the ass to get a tax stamp up here. Sounds completely worth it, IMHO.

You redneck south of US-30 just don't have the right connections and money

Remember campaign contributions go a lllllooooonnnngggggg way.

 

[Andy219]

Off topic, but interesting way to explain our tax system in layman terms.

I just have to share for the "tax the hell out of the rich folks".....

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. ... The ninth would pay $18. The tenth man (the richest) would pay $59. So, that's what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beers by $20. Drinks for the ten now cost just $80.' The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:

The fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33%savings). The seventh now paid $5 instead of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings). The tenth now paid $49 instead of $59 (16% savings). Each of the six was better off than before and the first four continued to drink for free, but once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,' declared the sixth man. He pointed to the tenth man, 'but he got $10!'

'Yeah, that's right,'exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got TEN times more than I!'

'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!' 'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!' The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something very important....they didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes DO get the most benefit from a tax reduction. They also PAY more than the rest. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D. Professor of Economics University of Georgia

 

[bigretic]

Link please. I have heard of more issues with trusts set up by actual lawyers than the quicken version.

Again, this is just rumor as well.

I haven't seen/heard proof of any instance in this state.
I have seen some posts about other states but always "i know a guy" or "a friend told me" sort of stuff.
btw
Indiana Code 30-4-2
a total joy to read, but the short of it is that there's not much to a legal trust in this state. Define the terms, get notarized.

 

[bigretic]

Anyone in NWI interested in Joining the Glen Park Izaak Walton (located at I-65 & 61st Merrillville behind Mike Anderson Chevy)
We are offering the rest of the year's membership for FREE with a paid membership for the 2013 calendar year.
www.glenparkiw.org for facility details.
PM me with any questions.

 

[actaeon277]

Off topic, but interesting way to explain our tax system in layman terms.

I just have to share for the "tax the hell out of the rich folks".....

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. ... The ninth would pay $18. The tenth man (the richest) would pay $59. So, that's what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beers by $20. Drinks for the ten now cost just $80.' The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:

The fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33%savings). The seventh now paid $5 instead of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings). The tenth now paid $49 instead of $59 (16% savings). Each of the six was better off than before and the first four continued to drink for free, but once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,' declared the sixth man. He pointed to the tenth man, 'but he got $10!'

'Yeah, that's right,'exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got TEN times more than I!'

'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!' 'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!' The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something very important....they didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes DO get the most benefit from a tax reduction. They also PAY more than the rest. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D. Professor of Economics University of Georgia

Thanks Andy. I've heard it, but forgot the math.

 

[B27R]

Off topic, but interesting way to explain our tax system in layman terms.

I just have to share for the "tax the hell out of the rich folks".....

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. ... The ninth would pay $18. The tenth man (the richest) would pay $59. So, that's what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beers by $20. Drinks for the ten now cost just $80.' The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:

The fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33%savings). The seventh now paid $5 instead of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings). The tenth now paid $49 instead of $59 (16% savings). Each of the six was better off than before and the first four continued to drink for free, but once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,' declared the sixth man. He pointed to the tenth man, 'but he got $10!'

'Yeah, that's right,'exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got TEN times more than I!'

'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!' 'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!' The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something very important....they didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes DO get the most benefit from a tax reduction. They also PAY more than the rest. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D. Professor of Economics University of Georgia

This = AWESOME. Thanks for sharing

 

[gunbunnies]

Bigretic, are they still charging 5 dollars a head to use the indoor range on top of the membership fee ?

On the Trust thingy... I would think that if a Trust is perfectly good for millions of dollars in real property and cars etc. that it would be fine for a NFA item. What we are talking about is making a in-animate object a real intity. The Trust becomes a real person and then can own things... protecting those things from other real people that may try to take them legally.

A Trust doesn't have any other requirement besides being a intity that wasn't born into life and own stuff... A corporation is a business and must show profits to retain it's intity status. Therefore putting things you want to own in a company may be a loss in the end as the company can stop producing a income and be deemed non profitable... The Trust isn't designed to have a shelf life so it can go on and on as long as it's design is still intact...

Now all that said I'm not a lawyer and don't play one on any new fanangled sitcom on TV either sooo take it for what it's worth...

 

[jedi]

Anyone in NWI interested in Joining the Glen Park Izaak Walton (located at I-65 & 61st Merrillville behind Mike Anderson Chevy)
We are offering the rest of the year's membership for FREE with a paid membership for the 2013 calendar year.
www.glenparkiw.org for facility details.
PM me with any questions.

I did not know about this club/range. Going to add this to the NWI range list. Good info here!

I do have some questions
1) the website says indoor range is $5 is that on top of the membership fee? How much is membership fee?
2) apart from the indoor range and trap shooting what else is there at that location
3) are you a member and if so could I get a tour of the indoor range please
4) does the place have indoor plumbing?

Thanks

 

[gunbunnies]

I was a member there some years back...

They got a bathroom with water and everything...

I think they just have the trap range outdoors now and the indoor pistol range down stairs by the bar....

It's a nice club, quiet even though thier on the edge of I65....

 

[jedi]

@gb where have you not been to? Hehehe

So no pond or campground area like the one in griffith?

 

[jedi]

Jedi south shore train adventures
--sigh--
Such a pertty girl but o-m-g I need earplugs cause her voice.
Aaaaaaaaahhhhhhhhhhhh

 

[Wild Deuce]

Jedi south shore train adventures
--sigh--
Such a pertty girl but o-m-g I need earplugs cause her voice.
Aaaaaaaaahhhhhhhhhhhh

Add those to your [STRIKE]rape-kit[/STRIKE] bugout bag.

 

[Wild Deuce]

BTW FTFY

But did he have one of these?

Nope ... pretty sure they were legos. I didn't see any bricks ... just a ton of star wars legos. I didn't do an inventory so I don't know if he had one of those star cruisers. He did have several full-size cardboard cutouts of Star Troopers, Lukas Sky Walker, Princess Ear Muffs, Amakin, and other assorted movie posters/advertisements.

... I think it was GB or Joe that had a revolver lock up on them as well earlier this year. WD also had a revolver that was giving him issues (not at the meet & shoot).

What Jedi said.
And, you always here that "revolvers never fail".
In my experience, revolvers are more reliable.
But when they fail, it is usually worse.
Most semi-auto problems (not all) can be cleared by mag chang, and clearing a round.

When a revolver fails, major problem.

I am almost 99.99% certain that my revolver lock-up was due to a faulty speedloader. I haven't been out with the revolver in a long time to prove the theory but I that's what I am looking at as the cause.

 

[lonehoosier]

Anyone in NWI interested in Joining the Glen Park Izaak Walton (located at I-65 & 61st Merrillville behind Mike Anderson Chevy)
We are offering the rest of the year's membership for FREE with a paid membership for the 2013 calendar year.
www.glenparkiw.org for facility details.
PM me with any questions.

Me and the wife need to get over there and check things out. I know she is intrested in using the indoor range.

 

[Wild Deuce]

Anyone in NWI interested in Joining the Glen Park Izaak Walton (located at I-65 & 61st Merrillville behind Mike Anderson Chevy)
We are offering the rest of the year's membership for FREE with a paid membership for the 2013 calendar year.
www.glenparkiw.org for facility details.
PM me with any questions.

Isn't this indoor range, rimfire only?

ADDED: Never mind ... just noticed ... it's centerfire pistol or rimfire.

 

[gunbunnies]

As far as revolvers go... Lady Ghost broke my Dan Wesson model 15 at one of the M&S's.... but to be completely fair on that one it seems that there is a worn out spring in the mix on a really old DW.... It broke again after I got it figured out how to re-attach the little hand spring back in there... Shot 38 spcl OK, but it only took about 2 dozen magnums to pop that spring off again...

But that's the only revolver I've had problems with... Revolvers are normally solid and reliable and great all around preformers in my book....

Jedi, I'm way older than I look and have been shooting since I was like 12.... of course I've been everywhere...

 

[gunbunnies]

WD, back when I was a member we shot all pistol calibers, no magnums.... plus 22 too in there... and back then lead was OK, not sure today...