Tag Archives: Taxation
April 27, 2012Posted by on
Hariton: maybe a tax shelter really is like pornography and cannot be coherently defined.
— The Frame Game: How Defining the ‘Transaction’ Decides the Case, 63 Tax Lawyer 1 (2009)
it’s vague, it’s tempting, it’s necessary, and damn it might even be awesome
April 21, 2012Posted by on
My first thought: this sounds like a bad idea
Then I thought: well, kiva works well, microfinance is functioning too. Maybe with good regs from SEC, this is actually feasible. I love love startups, but I am cautiously optimistic.
Lastly, so much for mark-to-market. sigh
March 9, 2012Posted by on
Am I a disciple of the cult of rationality? This is really circular reasoning and bothers me now.
But so funny though. I wish there were a karaoke version.
Oh Kathryn Schulz. She is still so breath-taking.
This link is found from Cheap Talk, A blog I followed diligently. The owner of the blog seems to be very interesting. Cult mind-set.
Also, TED wiki entry. Why is it a LLC?
March 9, 2012Posted by on
I really don’t know enough to say anything on the Palestine-Isareal issue. It is tragic to both sides, as well as the whole human society.
But gaming the system and undermining principles, that I can’t tolerate.
March 5, 2012Posted by on
what didn’t kill you makes you stronger, and what made you stronger may eventually kill you.
- Yapping Yak
If I were to die in the next minute, I would be a very pessimistic and sorrow soul. Not because of the perpetual singlehood or unemployment. I have bigger things to worry about, including but not limited to:
Does man have a future?
I have been reading up on behavioral economics and cognitive bias. Daniel Kahneman and this boring dude called David DiSalvo (I don’t understand why this dude got 5 star reviews on Amazon. He makes me really start to think I should stop reading books by science journalists and whether I should quit trying to be one). Also there are ideas from my Financial Products Taxation class, the professor of which is a disciple of Nassim Taleb (Kahneman cited Taleb in his book actually). I am still at the intro part of all the books (thanks Kindle!), so hopefully I will have some sort of clear idea when I finish the books (and correspondingly get a poor GPA due to lack of focus).
From DiSalvo I learned: 1) like all muscles or any organs, our brains tend to shift towards a “happy”/uncomfortable state. 2) the happy state may not produce good results.
(Reason why I dislike DiSalvo’s book is that it makes me feel like I am reading a term paper, a mediocre one (so far). It basically builds on the innovative ideas from Kahneman and throws in a bunch of “real-life” examples, many of which are cliche. A nice intro read I guess)
From Dahneman’s book I learned: we are all biased. The automatic fast actor System 1 in our brain is the default mode, which gives us essential surviving skills yet can make blunders, while System 2 needs to be activated and is lazy and slow to reaction, upon which we need to rely on to make careful decisions required by many complex tasks.
They say, what doesn’t kill you makes you stronger. Totally makes sense. From all the surviving struggles humans become beings that possess unparalleled capability to navigate through complex world and thrive in it; however, this surviving got so good, that it muffles the alternative. Supposedly during a certain period of time, this strong skill enabled us to prosper, but when the times come, calling for alternatives, we find it is so hard, biologically, to become “naturally” good in a different kind of scenarios.
So basically, what makes us stronger, may eventually kill us. Like how arrogant people would trip on small things, and the old Chinese saying “it is those who are swimming masters tend to drown”.
Is this bias predisposed? Can it be compensated, if not solved? Because, I really can’t muster enough interest to solve all the financial/tax stuff, if all we know is, damn we are gonna screw up again, even harder.
Hence the sorrow.
February 26, 2012Posted by on
Oh I am so proud. I am finally becoming one of those OBSCURE NERDS
my first meme: FIRST WORLD PROBLEM
also, just another meme that I like
February 13, 2012Posted by on
[This post is inspired by the link I previously shared on this blog. I am not attempting to outsmart economists, but it might conjure some dry laughter. Happy Valentine's Day ]
Yes yes, I know, we’ve all been there: the frowning face of your significant other over the dullness of your personality and the dryness of your attempted humor; the shame/embarrassment he/she subconsciously shows when introducing you to his/her circle; and the worst kind: the every-now-and-then accidental omission of the word “tax” before the word “lawyer”.
This is life. Our life.
The natural or unnatural sensitivity of ours over numbers may have been nagging you, and you have no idea. You look up from piles of returns and codes and look around, finally have eyes lie on the calendar: oh dear, it is 02/14/2012.
It is not too late to rush to Tiffany’s and buy a pair of ear studs. But you are currently unemployed and only working as a tax preparer. Creativity or craftsmanship is not your strong forte (duh). Well, actually we can’t help either, in any substantial way at least.
But we are still lawyers. We can talk, somewhat. Here is some pillow talk for you. Hopefully it will defrost the frowning face. Some of them may be lame.
And thank you, RG and MP. May the respective relationships of yours are ever-existing like IRS, and be the third thing you can’t escape besides death and taxation.
Here we go.
14 Ways a Tax Lawyer Say “I Love You”.
1. I will never complain about taxes if IRS is owned by you.
2. Your existence in my life makes me think I am subject to the Buffet tax.
3. We shouldn’t file joint returns, because with you I only realize gains.
4. Our love will never depreciate, because it is a real asset to my life.
5. You checked my box on our LLC.
6. All the gain you bring to my life is capital — nothing ordinary about you.
7. I’ve just enacted a treaty between Me and You and I’m gonna withhold nothing.
8. When we’re accruing interest on our bond, you make me want to report everything!
9. I can’t determine your transfer price: there ain’t no internal comparables, there ain’t no external comparables… hell, there ain’t even anything functionally similar!
10. I will always be there as the counterparty in a swap for you, taking on variable, short, long … whatever position you want..
11. My love never comes in contingent periodic payments… there is nothing contingent.
12. You can merge with me anytime, because I’ll always have a continuing interest in you.
13. You showed up on my balance sheet and erased all my previous NOL in life.
14. You’ll need to report me to the IRS now, because there’s no risk of losing me.