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 Proud to be Deplorable
Posts: 1929
   
| run2run - 2014-03-28 2:02 PM
Just wondering if the Walker's will have to pay income tax on the $765,000, and if the "new owner" will have to pay luxury tax on his new purchase (just to satisfy legality)
I think the IRS would say yes. |
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 Famous for Not Complaining
Posts: 8848
 
Location: Broxton, Ga | jbhoot - 2014-03-27 3:05 PM run2run - 2014-03-28 2:02 PM Just wondering if the Walker's will have to pay income tax on the $765,000, and if the "new owner" will have to pay luxury tax on his new purchase (just to satisfy legality) I think the IRS would say yes.
I think so too.......... |
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Troll Buster
Posts: 6045
| foundation horse - 2014-03-28 1:44 PM
RodeoGirlJodi - 2014-03-28 1:40 PM
So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him?
Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts...............
I'm trying to google and I can only find sports stuff? Lol
Edited by RacinPeggy06 2014-03-28 2:09 PM
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  Semper Fi
Location: North Texas | RacinPeggy06 - 2014-03-28 2:07 PM
foundation horse - 2014-03-28 1:44 PM
RodeoGirlJodi - 2014-03-28 1:40 PM
So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him?
Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts...............
I'm trying to google and I can only find baseball stuff? Lol
http://www.facebook.com/l.php?u=http%3A%2F%2Fennis-chamber.com%2Fdi... |
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 Queen Boobie 2
Posts: 7521
| run2run - 2014-03-28 2:02 PM
Just wondering if the Walker's will have to pay income tax on the $765,000, and if the "new owner" will have to pay luxury tax on his new purchase (just to satisfy legality)
If I were guessing...the new "owner" only fronted the money. As for the Walkers taxes..I believe when you sell an asset like this you owe capital gains tax....UNLESS you reinvest that money within a certain time frame. So, I would think the smart thing to do would be to buy Latte outright from the winning bidder, once the money is dispersed by the court... thereby negating the tax obligation. |
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Semper Fi
Location: North Texas | bennie1 - 2014-03-28 2:12 PM
run2run - 2014-03-28 2:02 PM
Just wondering if the Walker's will have to pay income tax on the $765,000, and if the "new owner" will have to pay luxury tax on his new purchase (just to satisfy legality)
If I were guessing...the new "owner" only fronted the money. As for the Walkers taxes..I believe when you sell an asset like this you owe capital gains tax....UNLESS you reinvest that money within a certain time frame. So, I would think the smart thing to do would be to buy Latte outright from the winning bidder, once the money is dispersed by the court... thereby negating the tax obligation.
The key is how long will the court take in dispersal of the said auction proceeds?
Edited by foundation horse 2014-03-28 2:15 PM
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 Elite Veteran
Posts: 852
| foundation horse - 2014-03-28 2:08 PM RacinPeggy06 - 2014-03-28 2:07 PM foundation horse - 2014-03-28 1:44 PM RodeoGirlJodi - 2014-03-28 1:40 PM So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him? Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts............... I'm trying to google and I can only find baseball stuff? Lol  The link no longer works! Interesting................................... |
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Semper Fi
Location: North Texas | jimmyface - 2014-03-28 2:14 PM
If you people would slow down a little bit, and get your head outta your a$$, you would realize this is not how the court system or law works.
There is a pending legal case here that is still NOT SETTLED. As far as one getting 90% and the other 10%, that has not been decided in court. The total actually owed is being debated, and Cheri could possibly, and will very likely, get more than "10%" ya'll are so fixated on.
jimmyface, you are correct. However, there are many on here who do not have their heads up their azzes. I am one of them. So in other words, COOL YOUR JETS! Pretty brazen of You to have a first time post like this! If jimmyface is your true board name! |
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Semper Fi
Location: North Texas | weder - 2014-03-28 2:16 PM
foundation horse - 2014-03-28 2:08 PM RacinPeggy06 - 2014-03-28 2:07 PM foundation horse - 2014-03-28 1:44 PM RodeoGirlJodi - 2014-03-28 1:40 PM So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him? Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts............... I'm trying to google and I can only find baseball stuff? Lol The link no longer works! Interesting...................................
You broke it! hehehheh Worked for me till you said something! hehehehehehe
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Regular
Posts: 96
| CJE - 2014-03-28 1:15 PM
LRQHS - 2014-03-27 2:12 PM Lovin Life - 2014-03-28 1:11 PM Can I join??? I'll bring the margaritas!!
 
I really want to be in on this one. Usually
i just lurk but this is so Professional Horse business. I have to make a comment. "The only BAD Publicity is NO Publicity"    |
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 Expert
Posts: 2097
Location: Deep South | lookout hill - 2014-03-28 12:49 PM
CYA Ranch - 2014-03-28 11:48 AM lookout hill - 2014-03-28 12:46 PM I "heard" that Carlee Pierce was the second highest bidder. Not sure if my informant is accurate but that's what I "heard". Not sure who else was there bidding. That's exactly who I figured would be in on it. Sounds like there were a few people of the same ilk there today.
Did I miss something?  |
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Elite Veteran
Posts: 852
| foundation horse - 2014-03-28 2:18 PM weder - 2014-03-28 2:16 PM foundation horse - 2014-03-28 2:08 PM RacinPeggy06 - 2014-03-28 2:07 PM foundation horse - 2014-03-28 1:44 PM RodeoGirlJodi - 2014-03-28 1:40 PM So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him? Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts............... I'm trying to google and I can only find baseball stuff? Lol The link no longer works! Interesting................................... You broke it! hehehheh Worked for me till you said something! hehehehehehe
What I find interesting is how the "image" attached to this particular case has swayed so many peoples morals. For the most part, there is talk on here almost daily about being a good person, following the rules, etc. But because of the tragic story attached to this combination, the morals that most people on this board profess to follow and hold other people to, have been thrown out the window. I wonder if the reaction would have been the same or different had it been, say, one barrel racer that we are forbidden to talk about on this board and her mare? |
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 Tough Patooty
Posts: 2615
Location: Sperry, OK | foundation horse - 2014-03-28 2:17 PM jimmyface - 2014-03-28 2:14 PM If you people would slow down a little bit, and get your head outta your a$$, you would realize this is not how the court system or law works. There is a pending legal case here that is still NOT SETTLED. As far as one getting 90% and the other 10%, that has not been decided in court. The total actually owed is being debated, and Cheri could possibly, and will very likely, get more than "10%" ya'll are so fixated on. jimmyface, you are correct. However, there are many on here who do not have their heads up their azzes. I am one of them. So in other words, COOL YOUR JETS! Pretty brazen of You to have a first time post like this! If jimmyface is your true board name!
Just did a search for jimmyface.. and no results found. Did they delete the account? |
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Elite Veteran
Posts: 831
| weder - 2014-03-28 2:23 PM
foundation horse - 2014-03-28 2:18 PM weder - 2014-03-28 2:16 PM foundation horse - 2014-03-28 2:08 PM RacinPeggy06 - 2014-03-28 2:07 PM foundation horse - 2014-03-28 1:44 PM RodeoGirlJodi - 2014-03-28 1:40 PM So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him? Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts............... I'm trying to google and I can only find baseball stuff? Lol The link no longer works! Interesting................................... You broke it! hehehheh Worked for me till you said something! hehehehehehe
What I find interesting is how the "image" attached to this particular case has swayed so many peoples morals. For the most part, there is talk on here almost daily about being a good person, following the rules, etc. But because of the tragic story attached to this combination, the morals that most people on this board profess to follow and hold other people to, have been thrown out the window. I wonder if the reaction would have been the same or different had it been, say, one barrel racer that we are forbidden to talk about on this board and her mare?
Wait? What barrel racer and mare are we forbidden to talk about?  |
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 Shelter Dog Lover
Posts: 10277
| weder - 2014-03-28 2:23 PM foundation horse - 2014-03-28 2:18 PM weder - 2014-03-28 2:16 PM foundation horse - 2014-03-28 2:08 PM RacinPeggy06 - 2014-03-28 2:07 PM foundation horse - 2014-03-28 1:44 PM RodeoGirlJodi - 2014-03-28 1:40 PM So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him? Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts............... I'm trying to google and I can only find baseball stuff? Lol The link no longer works! Interesting................................... You broke it! hehehheh Worked for me till you said something! hehehehehehe
What I find interesting is how the "image" attached to this particular case has swayed so many peoples morals. For the most part, there is talk on here almost daily about being a good person, following the rules, etc. But because of the tragic story attached to this combination, the morals that most people on this board profess to follow and hold other people to, have been thrown out the window. I wonder if the reaction would have been the same or different had it been, say, one barrel racer that we are forbidden to talk about on this board and her mare? that is what distubrs me the most, the big picture of our society condoning bad behavior. |
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Elite Veteran
Posts: 852
| rodeomom3 - 2014-03-28 2:38 PM weder - 2014-03-28 2:23 PM foundation horse - 2014-03-28 2:18 PM weder - 2014-03-28 2:16 PM foundation horse - 2014-03-28 2:08 PM RacinPeggy06 - 2014-03-28 2:07 PM foundation horse - 2014-03-28 1:44 PM RodeoGirlJodi - 2014-03-28 1:40 PM So, if I am understanding correctly, someone else purchased Latte and gave him to Mary... Therefore, is he officially hers or does he belong to someone else and she will just be able to continue riding him? Mike Montgomery who is a representative of Justin Discount Boots Outfitter bought him. Mike is also 'heavily' involved w/ the Walkers. Google Mike Montgomery and see what his professional background reveals for yourself. Then make your presumptions and forecasts............... I'm trying to google and I can only find baseball stuff? Lol The link no longer works! Interesting................................... You broke it! hehehheh Worked for me till you said something! hehehehehehe
What I find interesting is how the "image" attached to this particular case has swayed so many peoples morals. For the most part, there is talk on here almost daily about being a good person, following the rules, etc. But because of the tragic story attached to this combination, the morals that most people on this board profess to follow and hold other people to, have been thrown out the window. I wonder if the reaction would have been the same or different had it been, say, one barrel racer that we are forbidden to talk about on this board and her mare? that is what distubrs me the most, the big picture of our society condoning bad behavior. |
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 Shipwrecked and Flat Out Zapped
Posts: 16390
Location: DUMPING CATS AND PIGS IN TEXAS :) |  |
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 More bootie than waist!
Posts: 18425
Location: Riding Crackhead. | Its baaaaaack! |
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 Holy Macaroni!
Posts: 3957
Location: I am not FROM California I just live here! | I think it would help even if the thread is frozen to put the original one back up for all of those people who had stuff to do today and didn't get to finish reading it....just sayin..... |
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Shipwrecked and Flat Out Zapped
Posts: 16390
Location: DUMPING CATS AND PIGS IN TEXAS :) | chasin3 - 2014-03-28 4:13 PM I think it would help even if the thread is frozen to put the original one back up for all of those people who had stuff to do today and didn't get to finish reading it....just sayin.....
CONFUCIUS SAY, "you better read fast!" |
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