EIC
Eagle Point Income Company Inc
Mentions (24Hr)
0.00% Today
Reddit Posts
EFSH - before anything happens? is anything going to happen?
$FOMC ; FOMO Corp Name Change/Ticker Change Approved!!! - $ETFM ticker change to $FOMC effective May 7, 2021. HUGE updates from today's FOMO Hour!!
ETFM - FOMO Corp 4/7/21 FOMO Hour recap, and BIG NEWS!
Mentions
I did that and I am now retired at 55 and living off of my dividneds. Currently at 5K a month of income. Enough to cover my living expenses. I would like 100K in retirment and I estimated my tax for regular dividends with no other income and found my tax owould be 15K or 85K of income after taxes. It will be a few years before I get there. So it is possible to do it with just high tax regular dividends. Qualified dividends have a lower tax. But they are other low tax operations municiable bonds and ROC dividends. ROC means return of capital ( a tax classification) and freaks an out a lot people but A good fund can have ROC dividends by doing tax loss harvesting while earning a profit from your investments. This creates the ROC classification without returning any of your investment. The advantage Of ROC dividends is that you pay no taxes on the dividend. But when the cost basis of your shares reaches zero (which takes years you pay long term captial gains taxes which is the same as qualified dividend. Neos has some ver good covered call funds (see their website for a full list. But two of my favorit are SPYI 11% yield and QQQI 13% yield. You won't find qualified stock or ETF with this yield. And with these yields you can build up passive income faster than you can with qualified dividends of Note some other funds I hare (most are regular dividends) are : EIC 11% yield,, PFLT 11%,EMO 9%, PBDC 9%, ARDC 9%CLO 8%, UTF 7%, UTG 6.3, and JAAA 6%.
TFP is pretty conservative leaning, enough that John Oliver did a piece on their EIC recently.
Many low beta stocks or funds are Dividend stocks. So you could get: * Low beta * Low volatility. * and income At the same time without adding bonds cash in money market funds. you can get consistent dividend yields of 6 to 10% Which is better yield than banks money market or government bonds. And you can use the dividend to either increase your dividend over time by reinvesting it bank into the fund or stock. Or you could invest the dividend into more growth index funds. UTF 7% yield and UTG 6.3% yield are both good utility funds. Regulated stable companes. JAAA 6% yield and CLOZ 8%. These in collateral loan obligations JAAA invests In AAA rated loans and CLOZ invests in BBB rated loans. These loans are back by hard assets so it the company can't make its loan payment the assets can be sold to pay the investors. EIC 11% yield is a similar fund but it invests in CCC rated CLOs. Dividends are payed out generally quarterly or monthly. and it is not uncommon for dividend funds to pay out there dividend even if the stock price falls in a market crash.
You could invest the money in JAAA 6% yield and JBBB 8% yield and PFFA 8% UTF 7% and UTG 6%.Thes all invest in different assets and provide a much better yield. These are dividend funds that pay out quarterly or monthly. Some higher yielding options are PBDC 9%, ARDC 10%,EIC 11%, and SPYI 11% the lower yielding funds are safest while the higher yielding funds have slightly higher risk. YOU will have to use a taxable brokerage acount for these funds. Set dividend investment to off. Cash will show up in the account and from there you can move that to your bank account. The higher yield of these funds will probably double your income. Any money you don't spend reinvest it for more income. Your taxes will go up due to the higher income. So you probably will have to make some adjustments to your tax withholding. I strongly suggest you read the book The Income Factory. and look at Armchair income on youtube.
I am really interested in your post, but also a little confused on the details. If you wouldn't mind adding some clarification. >QQQI 13% Yield, ARDC 12%, SPAYI 11%, EIC 11%, PBDC 9%, UTF 7%, SCYB 7%, UTG 6.3%, PFFD 6% FAGIX 5%. * The above is only 50% of your portfolio, and the other 50% is in growth ETF not part of the list above? * Most important question: The 5K in monthly income you receive is based on what dollar amount invested in the above portfolio? * Those numbers add up to 87%. Where is the other 13%?
The solution to this cash reserve problem is not to use cash or growth index funds as a reserve for a market down turn. Instead consider investing your cash and taxa able brokerage holdings into dividend funds. For example if we take your 150K of cash and reinvested that for dividned. Now with 150K we cannot get enough cash to provide 9K a month. but with BTCI 25% yield you could get 3K a month of income Now normally I would recemond QQQI with its 13% yield due to my risk tolerance. BTCI is the maximum yield I would be comfortable with. But with your cash and taxable brokerage invested in BTCI you would bet very close to 9K a month. If you just use the cash in BTCI and reinvested all the money back into BTCI you will have 300K in BTCI and would have an income of 6K a month. If you don't need the money reinvest it in other funds to reduce single fund risk. or you could use the money to pay off a home loan or any debt you have. Reducing your living expenses. The key things to remember about dividneds is that the money is from the companies profits. And ever in 2008 and the dot. crash most companes were still profitable and still payed their dividends. I retired at 55 and I invested in QQQI 13% Yield, ARDC 12%, SPAYI 11%, EIC 11%, PBDC 9%, UTF 7%, SCYB 7%, UTG 6.3%, PFFD 6% FAGIX 5%. A mix high yield and lowe less risky yields And I still have 50% of my portfolio in growth index funds. My living expenses are about 4K and I currently get 5k from dividends so 80% of my income covers my living expenses with the remaining 20% being reinvested for more income. Now if there is a correction in the market most of my dividend income will continue. But if not I can sells some growth for additional income. A good book to read is the income factory. And armchair income on you tube invests the same way but does good reviews of funds that can be used for income.
I would recomend diversifying into high quality dividend funds That way when the market falls the dividends will help contract some of the decline. I am using dividend funds like QQQI 13% yield, ARDC 12%, SPYI 11% EIC 11%, PBDC 9%, UTF 7%, UTG 6.3%, PFFD 6%.
right now you have two choices, open a a roth or a taxable account. I don't know if you have access to a 401K. I am assuming right now you don't. with 800 a month you and the roth depoist limit of 7000 you will have enough to open a roth and taxable account. Max out your roth every year. Most just invest in growth index funds Like S&P500 index funds. but with he deposit limit in 20 yours you would longly have about 500K available for retirment and it would not generate any meaningful income. In my opinion The best Roth investment is a high yield dividend fund like BTCI 25% yield. In 20 years you will have about 3.9 million in the acount producing 900K of dividned income a year. Yes there are some risks with a yield at 25% but it is the highest reasonable safe yield I know of. Realistically in 10 years i would start diversifying your investments in the roth. I am currently investing in QQQI 13% yield, ARDC 12%, SPYI 11%, EIC 11%, PBDC 9%, UTF 7%, SCYB 7%, UTG 6.3%, PFFD 6%. All would would make good additions to your roth when you start diversifying away from BTCI. And all are good choices for a taxable account. Once you reach the 7000 limit in the roth open a taxable account and start investing for dividends. The purpose of the taxable account is to give you a backup source of income. having a lot of dividend income is great backup in case your are unemployed or cannot work for medical reasons. I am following an investment stratagy similar to the book The Income Factory. Armchair income on youtube also follows this stratagy. Both list the funds they use or have used and that that is 100 in total. Armchair income also does detailed reviews of his investment choices. Which give you a good look at why he picks the funds he insists in.
your could sell it off slowly and reinvest the funds for dividends. Dependinding on the yield the reinvestment you could get yearly cash income generation of 50k up to about 100K of income from your investments. Cash generated in the 401K will have to stay in the 401K until you reach age 60. But you can reinvest this cash to grow your earnings. IF the stock is in a taxable acount you could replace a immergeny fund with a passive income fund. I would read the book the income factory. It is about investing for dividend income. and list 68m funds the author has used plus several example portfolios. There ia also Armchair income on youtube. he list 38 funds has has in his dividend portfolio. and does detailed reviews of some of them and other funds that may be of interest. He also interviews fund managers and did interview the author of The Income Factory. That should give you enough ideas to on how to invest the money. I am currently using QQQI 13%, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9%, UTF 7%, SCYB 7%, UTG 6.3%, PFFD 6%. 5
There is a lot of risk in yieldmax funds. That doesn't mean they will fail tomorrow or next year. We simply don't know how long they can keep paying these very high yields. There are a growing number of people that put in only the ammount they are willing to loose and then use the dividend income to buy less risky stocks. That is what i am thinking doing and and I suggest to do the same. Lower risk investements I use are PFFD 6% Yield, UTF,7%, UTG 7%, Scab 7%, PBDC 9%, EIC 10%, SPYI 11%, ARDC 12%, and QQQI 13%.
Most economist are expecting higher inflation due to the tariffs and with growing world economic instability I would now focus more in on passive income investments. Such as these dividend ETFs: QQQI 13% yield, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9%, UTG / UTF / SCYB all with7% yield, A.nd PFF 6%. These funds in a roth or 401K will compensate for the potential lower earning of index fund so your retriemtn account will do better than one without dividends. In a taxable account then income would help protect your from unemployment.
There are many types of ETF, Most here are referring to index ETF. But there are also dividend ETF, covered call ETF, Collateral Loan obligation ETF, and credit ETFs. And then for most of these your would also find CEF (Closed End funds). CEF are more like investment businesses instead. ETF are more like mutual funds but listed on the stock exchanges like. CEFs are listed on exchanges like common stocks. Mutual funds are generally not listed on exchanges. Each has different uses and performance. So you can use a combination to suit any need. CEFs I like are ARDC 12% dividend yield, EIC 10%. UTF 7%, UTF7%. Some very good covered call ETFare QQQI 13% dividend yield, and SPYI 11%. These also take steps to reduce the tax you pay on the dividend you receive. They are great for generating income in a taxable acount.
There are some stock that literally pay you cash to hold them. These are dividend stocks. Dividned funds tend to pay higher returns. You might want to try holding QQQI 13%, ARDC 12%. SPYI 11%, EIC 10%, PBDC 9%.
If you invest for income you could get 30 to 40K of income per year from good paying dividend funds like QQQI 13% dividend yield, ARDC 12% SPYI 11%, EIC 10%, PBDC 9% . Thes funds pay you cash for simply holding the [stock.you](http://stock.you) never sell shares of the stock. Read the book The Income Factory.
Put whatever money he has in these funds. QQQI 13% yield, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9%.These funds pay a dividend which is much higher than what you can get from government bonds. Dividends are cash payment to you. These can supplement his work income. and pote4ntally exceed his work income. 5
For your hom you are going to need to maximize income. Frequently medical expenses for the old greatly increase living expenses. I am currently retired and am invest in these funds QQQI 13% yield ARDC 12%, SPYI 11%, EIC 10%, PBDC9%. These are add dividend funds Monthly or quarterly the fund will depoist your portion of he funds earnings into the brokerage account. The cash can then be used to cover living expenses ore reinvested. If you invest equally in these funds the dividend yield will age about 10%. Meaning 300K would produce about 30K a year of income (2,500 a month ). The bank would only give you about 1/10th of that ammount. In short this is a self assembled pension plan. Pension plans invest for income like dividends or bond interest to generate income for the pension holders. You can do the same. To good sources of aditional information is the book The Income Factory and Armchair income on youtube. both together list about 100 funds that they have used For income. Armchair income also does detailed reviews of some of the funds he has in his portfolio.
You are doing well and have made progress. At this point I would attack the central problem you have Income. I would start investing in dividend funds like QQQI 13% yield, ARDC 12% EIC, 10% PBDC 9%,UTG 7% these funds share the ir profit with investors. so quarterly or monthly you get a cash payment to you You could over time build up passive income to slowly to handle your monthly bills. Eventually you could retire and simply live off of the income.
by picking individual stocks, YES. Consistantly, No. But many people tiny of stack as companes like Apple vision and Chevron. And it is hard to find the companies that will score big each year. Many don't think of ETF and CEFs as stock But they do sell stock. And these investment companies are in many ways they are similar to companies They don't often grow like companies but they do often pay a higher dividend. So you don't need to consistently make 14% or more to retire. 8% works just fine if it is consistent and you consistently by more shares of the ETF or CEF every year. These funds pay cash dividends directly to you. So $100,000 at 8%Will pay you $8000 a year. So 1 million will earn you 80k a year of income at 8%. And right now there are funds that pay reliable 10% dividend I am currently investing in funds like QQQI 13% ARDC 12%, SPYI 11%, EIC 10%, PBDC 9% which all yield more than 8% and I am getting significant intcome from these funds. So the key to a comfortable retirement is to invest for income. Growth can give you very large returns but it is not consistent. And when you need income you have to sell it off with lowers your future long term future earnings. Dividend give your income now without sacrificing your long term earnings. I have a mix of dividend funds and growth funds. I use the dividend funds for income. The growth is used to maintain my income and serves as an emergency fund.
This is why I switched from growth index fund to dividend ETF and CEF fund. I am currently invited in QQQi 113% yield, ARDC 12%, SPYI 11%, EIC, 10%, PBDC 9%, SCYB 7% UTF 7%, UTG7%, PFFD 6%. Overall these funds produce 5K a month of income. Most goes to living expenses including healthcare I retired at 55). But 1K a month is reinvested which will help minimize inflation. When the dividends come in they go straight into a money market. fund. So I always have cash on hand. But I plan on keep a sizable amount in growth index for emergency needs, Unexpected large bills, and if needed I can harvest some growth and use that to increase my income as an inflation adjustment. The funds can also be used to replace any fund if it starts having issues.
I am invested in PBDC 9%, SPYI 11%, ARDC 12%, QQQI 13% and am considering adding EIC 10%, ACRE 12%.OXLC 25% BITC 24%. SPYI and QQQI do best when the market is uncertain. And the other have some interest rate risk but overall I think you will find the risk is lower than what you imagine it to be. But if yours a wide variety of fund that invest their money differently you have a very good chance of getting a stable predictable income. Even if one has some problems. I also keep some money in growth index funds as an emergency backup and reinvest about 20% of my income to hopefully keep up with inflation. The rest is used to cover living expenses. I am retired. JEPQ and QQQI invest in the same index and and used covered calls to generate income. But QQQI takes an extra step to lower the tax you pay on the dividend and you get a slightly higher dividend. So I sold off JEPQ.
Personally I find I like cash dividends for income. I have minimal ammount. in government bonds because the yields are so low. Right now some my favorite investments are QQQI 13%, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9% RLTY 8%, UTF 7%, UTG 7%, SCYB 7%. PFFD 6%. I am getting about 5K of income a month from these sources.
SPYG is apparently a S&P500 index fund derivative. it has a lower dividned than other S&P500 funds which leads me to believe it is more heavily invest in the tech portion of the index. Bot this and VTI are good. But I would also suggest QQQI13%, ARDC 12%,SPYI, EIC 10%, PBDC 9% These are dividend funds and will over time greatly increase the flow of money into your Roth while you still deposit 7000 a year into the Roth. which will greatly increase the growth of your portfolio. If you don't reinvest the dividends and then spread the money equally over all of your r investments your entire Roth portfolio will benefit.
With CD the maximum yield you are likely going to find is about 6%. However with a und like QQQI you can get a yield of 13%. And there are lot of choices in the 6 to 9% ranks for dividend ETF or CEF funds. And it is also possible to find yields win the 20% range or higher. I am investing in QQQI 13%, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9%, RLTY 8%, UTF / UTG / scab 7%, and PFFD 6%. And unlike CD they don't expire. meaning once you have built the portfolio the dividneds will continue to come in indefinitely. I currently get 5K a month of dividend income and I am retired.
I would not useChat AI for invesment advise. i would rather read the book The Income Factory. And youtube ArmChair income is an excellent resource. I am investing in these fund with the following yields; QQQI13% yield, ARDC 12% , SpYI 11%, EIC 10%, PBDC 9%, RLTY 8%, SCYB 7%, UTF 7%, UTG 7%, PFFD6% That work out to an average yeild of about 9%.
Just an example of what you could do with 300K. invest it in QQQI 13% yeild and put the dividneds into a money market fund. I April when you do your taxes the you will have to pay a tax on the dividneds. So use a portion of the cash to pay the tax, and then use money left over to pay off your home loan and any other debt you have. After the first year you will have an idea as to how much the dividend should be kept as cash for taxes and how much your can use immediently to pay off debt. Overall QQQI will generate about $39,000 a year pf Income before taxes. And as a further benefit QQQI takes steps to reduce the taxes you pay on the dividend. But keep in mind you will have to pay taxes on inherited money so in the end you might has about 200K instead of Also while the potential with QQQI it is just one fund and history has show you are better off using multiple funds, That way in the rare event that one goes bad the rest of your money will still be in god funds. So I have spread my money out over fund like PFFD 6% yield, UTF / UTG / scab 7%, RLTY 8%, PBDC 9%, EIC 10%, SPYI 11%, ARDC 12% and QQQI 13%. For my portfolio it generates enough to cover more than my monthly living expenses.
Most investors seek investments that earn around 10% to maximize ether growth of there protfolio Gold right now can be sold at a decent price but most of the time it isn't worth a lot and it doesn't pay a dividend. In may case I invest in dividend fund which earn me about 5K a month of income. 80% covers all of my living expenses. The rest is reinvested to grow my income Hopefully enough to keep up with inflation.I am invested in QQQI 13% yield, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9%, RLTY 8% SCYB / UTF, UTG 7%, PFFD 6%
I would not expect your taxes to be zero but I don't know anything about taxes in puerto Rico. After you cover any taxes you will need to invest it. I would look at dividend investing. Over the last few years I started using growth I had to build a dividned portfolio. I retired earlier than expected and now I have 5K a month of dividend income. I have money invested in these funds PFFD 6% yield, UTG / UTF / SCYB 7%yield, PBDC 9%, EIC 10%, SPYI 11%, ARDC 12%, QQQI 13%.
I would open a taxable brokerage account. and move your mo money into it. put the money into into a money market fund. Then slowly move money into QQQI which has a dividned yield of 13%. Do not automatically reinvests the dividneds. The dividend payments should go directly into your money market fund.Eventually you will have a cash account that is bing fead by the dividends from QQQI. You could over time graually add other dividned funds. I have PFFD 6% yield, UTG / UTF / SCYB 7%, PBDC 9% EIC 10%, SPYI 11%, ARDC 12%. Any extra cash gets reinvested. Eventually you could build up the account to get enough income to cover all of your living expenses, utility bills, bills, food, clothing, car cost, insurance. and housing.
with your uneven limited income for now I would put put money in QQQI. this is a income fund with a dividend of 13%. IF you build up the money in QQQI to 100K that one fund will generate 10K a year of income that goes directly into your rothand you still can contribute 7000 per year of your taxable income. Once QQQI is at 100K you roth is basically self funded. So it will continue to grow even if you don't have money to depoist into the account. Once you have 100k in the fund you can divert the dividend from QQQI and use it to buy VTI VXUS in the end you want 50% of your portfolio in index funds like V%I VXUS. with the other 50% in dividend funds. That way the dividend funds can supply you with income while the index funds can be used for unexpected emergency cash needs, or periodically harvest the growth in the invest funds and use the money to adjust your dividned income. For the dividend portion of my retirment I am using funds like PFF 6%,UTG 7%, SCYB 7%, PBDC9%, EIC 10% ARDC 12%, SPYI 11% and QQQI. you basically want enough dividend income to cover all of your living expenses with some extra cash left over every month. And reinvest any extra money.
If you invite in a combination of dividend assets with a yeild close to 10% you would have about 50k of income per year after selling the condo. Which is probably enough to cover most of your living expense or all of the rent for the appartment. Some funds you could use are PFFA 8% yield, PBDC 9% EIC 10%, SPYI 11%, ARDC 12%, QQQI 13%.
I didn't see the yield of T-bills attractive especially since they were likely going to trend down. So I instead piracies a preferred stock ETF with 6% yield and then purchases a BDC fund yielding 9%. I now have about 5 funds with yield near 10% or a little higher, PBDC 9% EIC 10%, SPYI 11%, ARDC 12%, QQQI 13%. And I hav several funds yielding about 7%
You need to invest for pasive income. For example. you could open a taxable brokerage account and inis a dividned fund. QQQI is nice one. it has 13% yield and takes steps to reduce the taxes you pay.. IF you put the roth depoist limit in this account yearly ns ewincwar raw siciswnsa,. IN 10 years you will have $100,000 in the fund and the yearly earnings willl be 13,000 or about 1K month. IN about 20 years you will have 600K with a yearly income 75K a year6 K a month of in come. This is a simple example of what is possible. But you don't generally want just one fund generating income. IF one goes bad you could loose a lot of money and time. If you spread your money equally over 10 funds then the impact of one bad investment is only 10% of your income. It is not unusual for people to have 20 funds in a portfolio. I didn't realize this until I was in my 50s. But I have did built up investments in index funds and other growth stocks in a taxable account over the years. So I started converting that to dividned investments. suing ufund like PFFD 6% yield, UTF / UTG, SCYB 7%, PBDC 9% EIC 10%, SPYI 11%, ARDC 12%, QQQI 13% I now have 5K of income a month. 4K Covers my living expenses including health insurance while 1K a month is reinvested for inflation protection. It still will be several years before I can use my well funded retirment accounts. And I still have more assets still available in my taxable account to fix any issues with what I have and increase my income. I wish I had done this at your age! Now this extra income does does come with additional tax. So I make quarterly estimated tax payments to the IRS. But that issues comes with the benefit that I have retired early and don't have to work. Some good resource es to guid you on this is the book "The Income fFactory. And ARmChair income on your tube. Both invest this way and the book list 68 funds the author has used, and Armchair income list 38 funds. Armshair income also does detailed review of some of the funds he uses. Don't ever withdrawal money from your regiment funds and pay the penalty. It is notworkth it. But you can pause investing new money into them and use that money to build your passive inc ome. Now many people will say dividends are very risky or not worth it. But most of these comments are from people that have never invested for dividends. My dividend portfolio has had no issues other than the taxe. I am also reworking my Roth for dividend income that will not be taxed when I can use it. And moving money from my 401K into the Roth.
I am not relying on government bonds or HYSA for pasive income. Instead I am relying on dividends from funds like PFFS 6%, UTG / SCYB all with a yields of 7%, pbdc 9%, EIC 11%SPYI 11%, ARDC 12%/ QQQI 13%. All with yields higher than government bonds or HYSA. So I need a lot less money to get the passive income I need to cover all of my living expense in retirement.
I use dividend funds in my roth I don't automatically reinvest the dividend back into the then that generated it. Instead it all gets sent into a cash moneyn market fund. And then once a month the money is split up equally into all funds into my roth I am currently using funds like UTF 7% , PBDC 9%, EIC 10%, SPYI 11%, ARDC 12%, QQQI 13%.
Short selling may only provide occasional income. For cash you want regular earnings. I would put some of your cash in a fund like QQQI with a 13% yield. Or you could use UTF 7%, PFFA 8% PBDC 9%, SPYI 11%, EIC 10% or ARDC 12%, or BTCI 24% But keep in mind you loose some liquidity when investing in these funds. Meaning if you need to withdrawal all the money you would have to sell shares, which takes a few days, and pay taxes on any capital gains. There is the possibility that you might sell at a loss. But with dividends you can build a contininous stream of income. Using funds like this I have drevolped an income protfolio and gernates 5K a month. Most is used for living expense and any excess is reinvested. I retired at 55.
you could invest in in funds like PFF 6% yieldUTG 6.7%, SCYB 7%, PBDC 9%, EIC 10%,SPYI 11%, ARDC 12%, QQQI 13% All of tese funds produce dividends. Cash payments to you. Dsividens ar a form of profit chasing mnayestablied companes do. These fund invest in these companies or bond issued by theese compnaies or use trading activity to improve the yield. If you invest in these thees funds in a taxable account you cinould build up enough income over time to cover all of your monthly bills. higher income is also possible. You could also do this in a roth for retirement. I am currently retired and make 5,000 a month from dividends. This stratagy is outlined in the book The Income Factory. Armature chair income on you also invest in this way. And each lists funds they have used. The only problem with this is in come contras tax or don't tax dividend and Other my or may not tax capital gains. If you plan to move to another country you need to know the tax laws for that country.
By doubling the standard deduction for MFJ and increasing both the EIC and CTC. . .your take was that this was an increase in tax burden for the lowest bracket? The lowest bracket earns UNDER the standard deduction . . .meaning they owe 0 taxes when its time to file. The wealthiest Americans saw the largest tax break because even after all of the loopholes and deductions the wealthiest of American pay nearly ALL of the tax.
I ain't even gonna waste much time here.. The idea is to get companies to move stateside, which has already worked to the tune of $9 billion in guaranteed relocation and investment. Apple, TMSC, GM, Ford, Stallantis just off the top of my head. Who gives a flying fuck if that bottle of Champange from Italy goes to $1,000 a bottle when you have tariff free wineries in the US. You wanna experience Italy, pay the grand. #I do hope that when all this works out, and we go income tax free, every single one of you talking shit, verified by these very comments in this thread, stay taxed and it goes to 70% across the board, no exceptions. No EIC, no deductions. Just tax the fuck out of you..
I honestly can't see anything that indicates that their technology isn't great. The quality/amount of customers/partners, the EIC endorsement, the GlobalFoundries endorsement, their ability to attract and employ world-leading talent, the comments from the CEO that the customer projects are proceeding even better than expected etc. I really believe this is going to be fantastic.
Most people I know pay $0 after social security. Last year I paid almost 40% after state (not including SS) only because I made 300k. Many people pay little to nothing, and if you’re like my brother you get EIC which means the government pays you.
Fun fact here is that if there actually would have been higher tariffs on goods imported into USA, then the tea events likely wouldn’t occurred. They occurred because the EIC received lower taxes on their imports. This made the legal imports cheaper, which harmed the illegal imports who didn’t pay taxes. Since the price of tea decreased.
Yeah, the East India Company had a monopoly license to be the only British company operating in that part of the world. In return it couldn't operate anywhere else and had to bring all goods back to London. Other companies would then re-export to other places. The Tea Act allowed the EIC to deliver tea directly with EIC ships. So before you had: EIC -> TARRIF into London -> Another company buys in London and distributes tea elsewhere. After: EIC -> TARRIF at final customer destination. There was no new tax really, its just the tax was now being taken at point of delivery. Which is why it never occurred to Frederick North's government his India policy might effect the situation in North America. The price of Tea went down for the colonists because you didn't have a second company marking up the tea as it exported from Britain. This undercut the price of smuggling operations, leading to violence.
Google says... The duties paid in England would be reduced/waived upon sale. But also the EIC could sell directly and cut out local merchants. So less "black" market and moreso just regular markets. It was basically a Walmart selling cheap tea that would have crippled local legal businesses situation.
The Boston Tea Party was a response to a tax being lifted off of tea, not a new tax that was imposed on it. American Colonists had been paying taxes on tea for years before the Boston Tea Party happened. [When the Townsend Acts were put into effect in 1767, it taxed tea and many other imports](https://www.britannica.com/event/Townshend-Acts). Colonists revolted, and most of the taxes were lifted except for the tax on tea. However, this really didn't matter to most colonists. Why? Because many colonists couldn't afford tea nor did they want to drink it. So for years, tea remained a taxable item and Americans largely accepted it. It simply wasn't worth fighting over it when there were many more pressing issues. Plus, smugglers began working their way around the system by sneaking in tea from foreign ports (which was incredibly illegal), such as Holland (where much of the smuggled tea came from), enabling them to sell their tea without a tax on it. However, all of this would change in 1773. In May of 1773, the British Parliament decided to help the British East India Company -- one of the two largest corporations of its day -- with a piece of legislation. [It was known as the Tea Act](https://www.jyfmuseums.org/learn/research-and-collections/essays/the-tea-act-and-the-boston-tea-party#:~:text=The%20British%20Parliament%20passed%20the,the%20colonies%20from%20other%20places.) and it was designed to help boost the sales of the financially-struggling East India Company which had massive stores of tea. The Tea Act, as you might have guessed, eliminated tax on the EIC’s tea, and only the EIC’s tea, enabling them to sell their tea at a lower price than the other competition. It also gave them several other advantages that no other businesses were granted. This infuriated the colonists, to say the least. Robert J. Allison explains some of their fury much better than I can, so check out this excerpt from his book below: > [The "Day is at length arrived," a committee of Philadelphia merchants declared when they learned of the Tea Act, "in which we must determine to live as Freeman--or as Slaves to linger out a miserable existence." The Tea Act would make Americans subservient to the "corrupt and designing Ministry" and change their "invaluable Title of American Freemen to that of Slaves." Americans must not give Parliament the power to control their lives. The Philadelphians insisted that no tea be landed](https://books.google.com/books?id=c2J2CAAAQBAJ&pg=PA21&lpg=PA21&dq=invaluable+title+of+American+Freemen+as+Slaves&source=bl&ots=71NR6ugF6a&sig=PRBNW6BNvRR4sZIbO0ZDnmTivKU&hl=en&sa=X&ved=0ahUKEwiDl_n5vKTOAhXCeCYKHSqlBlYQ6AEIIDAA#v=onepage&q=invaluable%20title%20of%20American%20Freemen%20as%20Slaves&f=false). At first, the rejection of the tax was simple. Ports across America, including those in Boston, Annapolis, Philadelphia and many more, simply refused to unload imported tea. But this created tension between merchants, customers, officials, representatives from the British East India Company, and, of course, the American population themselves. And when these officials started to really push for the unloading of their imported tea, well, the colonists in Boston took matters into their own hands. The citizens of Boston had grown tired of the British being in their city and the local gentry were ready to start capitalizing on their frustrations. They organized and decided they would storm the British East India Company ship that was in their harbor and destroy the tea. On December 17th, 1773, they did just that. They dressed up like Native Americans (most likely intended to have a more comedic or satirical effect) and destroyed a massive amount of tea -worth over $3.5 million in today's currency. The effects were echoed throughout the colonies. Soon, cities everywhere would be following through with similar tea parties and infuriating British businessmen and politicians across the ocean. The losses of the tea in Boston also directly led to the British sending more military units to the city when the British government decided they wanted to tighten their grip around Boston. Some leaders, like John Adams (a Boston Native), immediately wrote in praise of the Tea Party the very next day: > This is the most magnificent Movement of all. There is a Dignity, a Majesty, a Sublimity, in this last Effort of the Patriots, that I greatly admire. The People should never rise, without doing something to be remembered—something notable And striking. This Destruction of the Tea is so bold, so daring, so firm, intrepid and inflexible, and it must have so important Consequences, and so lasting, that I cant but consider it as an Epocha in History. The consequences that he spoke of were farther reaching than he probably could have imagined. Newspapers, like the Boston Gazette, favorably reported on the Tea Party and soon, all across America, Tea Parties were repeated in Philadelphia, Charleston, and many other American cities.
Even more then that: the US was founded on an anti-mercantilist rebellion. The tea in Boston Harbor was EIC monopoly tea!
This is splitting hairs a bit. The Tea Act did give the EIC a monopoly on tea, but that act *included* a tax on tea owed to the British, which was considered a sort of last straw. So the colonists were upset at the fact they did not have representation in parliament and therefore could not determine *who* to buy their tea from, *and* were forced to pay taxes to the monarchy on that tea which they had no options in selecting.
Mercantilism is BACK boys, get out your tricorne hats and powdered wigs, EIC looking bullish af
Bruh we are going back to VOC/EIC Era
Don't worry they kept the EIC auditors for all the Wendy's employees here. Wouldn't want them to get their 200 dollars back 
Vodafone JV can access blns € of EU funds, particularly through various programs: 1. Connecting Europe Facility (CEF) 2. Horizon Europe (€95.5 bln) 3. Digital Europe Programme 4. InvestEU 5. EU Green Deal & Innovation Funds 6. EIC Accelerator Amazing move👍bigger than Att+Vzn https://x.com/arcanozm/status/1896493737947402700?t=1Rp7JyIqSTn4_0043eq6Dg&s=19
JLS/DMO are pretty good on the MBS/GSE Risk transfer side. I like EIC and ECC on the CLO side.
Got it - It's interesting to see these "downside protection with cap" products coming out. I have been looking into how to best utilize my Roth and one area I have been researching are BDCs like PBDC and CLOs such as EIC. I'm past the five-year window on the Roth and could take dividends/gains tax free.
EIC-C pays out monthly. The other 2 pay out quarterly.
Well, there's some distinction to be made between the East India Company (British, called EIC), the Dutch East India Company (Dutch, called VOC), as they were actually competing and even at war with each other at times I think, etc. But I would say both were pretty big business rivaling the power of states, yes. Still companies though, any citizen of the Dutch Republic could buy stock in the VOC in the Amsterdam Stock Exchange in \~1600, and apparently the dividends were really good.
Wrong. Multiple empires have existed in the last 2500 years that spanned a landmass of the subcontinent that approximates modern India, starting with the Mauryans and Ashoka, continuing with the Guptas, Delhi Sultanate, and Mughals, and ending with Marathas. It wouldn’t have “remained a collection of individual states” because it wasn’t: at the time, it was largely unified under the Maratha confederate. Saying India didn’t exist before the EIC is as stupid as saying Germany didn’t exist before 1990.
I'm waiting to add to my position. If history repeats itself, OXLC will be in the mid to upper 4 range once everything finally comes down. Tech is dropping. Everything else shortly,in my opinion will also drop. I have a completely different approach to these funds now. The goal is to just add at the lows and hold at the highs. Collect the income,get maximum yield on cost. Patience pays to wait. At 4.90/share, that's a 22% yield on cost with the distribution increase. I'm seriously considering à portfolio of just OXLC,ECC,EIC,OCCI, XFLT,GOF,FCO, SVOL Maybe skip OCCI as it has yet to recover to 2023 highs or buy a large position in the 6 range or less. ACP as well. It may be down 66% since inception but for me it's been an 18-19% yield stock that goes back and forth from 6.60 to 7/share and pays 0.10/share monthly. It'll probably drop back to 6 or less and that would be the time to add to the position. I've set my portfolio up to take advantage of crashes. I just added an additional 62% cash to the portfolio. With these types of cefs ,they're boring but they do exactly what I want=produce income without the need to baby sit The pricing on these are fairly predictable as far as identifying bottoms as they behave the same way every year. OXLC drops to to the mid to upper 4 range Not a big deal. I expect it now. I just wait to buy low. Then,you're pretty much set,barring a catastrophe. I have a few Yieldmax and options etfs with megayields. Im not sure they're worth the risk when you have easy,income producing,low volatility stocks like these. Every 250k produces close to 50k with minimal volatility. May dump the options etfs altogether. OXLC ECC EIC CCIF XFLT ACP GOF SVOL=cream of the crop high yield in my opinion
OK, I did not know that the 12% bracket persists for some time - it must have been a long time since I had been in a tax bracket that high. :) Still, this would be at a net of about 16% fed + state. I'm in my late 50s, and a few years ago, I checked the cost of a plan, and it was like $16K per year (I have always been under the Medicaid limit). If you do some research, you will see that folks in my age range were getting walloped by plans that cost like $25K/yr. OK, putting it all together, there are certain tiers of net (explicit & implicit) taxes as my MAGI increases (I will presume state income tax tiers match the other tires, the dwell tier for the EIC, the difference between the end of the EIC and the Medicaid eligibility limit, and the difference between the 10% & 12% tax rates). There is small, but not zero, implicit tax rate, if smoothed out. for going from Medicaid to the ACA 200% of poverty. It is after this 200% poverty tier that the 40% implicit tax starts in earnest. \[1\] 0% federal + 2% state income tax tier, EIC positive, Medicaid eligible: $0 - $10.3K \[2\] 0% federal + 2% state income tax tier, EIC negative, Medicaid eligible: $10.3K - $14.6K \[3\] 10% federal + 4% state income tax tier, EIC negative, Medicaid eligible: $14.6K - $20K \[4\] 10% federal + 4% state income tax tier, Medicaid ineligible, 200% poverty : $20K - $30K
What is the ETIC? Did you mean to say EITC (which is actually referred to as the EIC)? This doesn't apply here, but if it did, there would be a range in which the net tax rate, after figuring the EIC in, would be a net 37% for a self-employed individual, at least for a certain range of income. The point is that loss of a subsidy is the equivalent of an increase in tax, and any competent accountant knows this. So if I have an income situation where I have a certain amount of net cash and health-care services performed, and then after earning a marginal $1 of income, I will have those same health-care services performed and a certain amount of extra cash. What I am saying is that for a good chunk of the income range I am in, that extra cash looks to be about $0.30. That is basically a 70% marginal income rate.
Not many stocks with 20% yields have a history of distribution increases like OXLC. It never recovered from its pre Covid levels but has flucuated from the mid 4 to 6 range while I've owned it for the past 2 years. It barely moves. I can practically guess the price on a given day. They just raised to 0.09/share. It's one of my largest positions and I'm outperforming all major stock market indices year to date With stocks like these I have rules: only add or buy when it's 5/share and under and if you look at the 2 year chart, it's a fairly safe bet OXLC will continue to trade somewhere between the mid 4 and mid 5 range It's almost like a junk bond that acts like a stock. You won't get much movement but it will generate high levels of income. I love is ECC,EIC,XFLT,CCIF as well but ECC has to be at 10/share or under, EIC under 15,XFLT under 7, and CCIF in the 7 range. I like to think of OXLC like an annuity on steroids
They're trades not long term holds. ECC and OXLC yield 18 to 20% depending on entry price and can cover their distributions. EIC is another 15 to 18% yield on cost fully covered. CLM outright admits it can't cover the distribution and you have to drip at nav and keep accumulating those nav shares if you want to stay above water in ,meaning you can't really spend the distribution with CLM or CRF if you want positive gains
Whenever the peak is near, gdp gets compared to countries. Last I checked, Russia has been in business for over 500 years and has trillions of provable gold, gas, diamonds and oil reserves. Nvidia’s rise and fall will be just a footnote in world history whereas russia makes world history. Anybody remember East India trading company. quote—— The East India Company (EIC)[a] was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874.[4] It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with East Asia. The company gained control of large parts of the Indian subcontinent and colonised parts of Southeast Asia and Hong Kong. At its peak, the company was the largest corporation in the world by various measures and had its own armed forces in the form of the company's three presidency armies, totalling about 260,000 soldiers, twice the size of the British army at the time.[5]
It also killed literally millions of people to do so. Maybe no one should look at the EIC as a way to do anything, and anyone that does should have bricks thrown at them.
Opening an LLC will not reduce your EIC taxes. Recommend going to a CPA. They actually know the tax laws. That said, 1031 exchange is probably the way to go. But you’ll have to go with a tax lawyer and real estate who actually wtf they’re doing. Very very strict rules. Or just pay your damn taxes seeing that you made well over $100k.
East India Company EIC bears don't come to the market tomorrow 
Kind of off topic. But democrats should really ok those with for welfare rules. In the northeast , blue states, that will just get more people on disability who should be on disability. Also we have more jobs that can throw someone 15 hours if they even show up. We already have mothers that put in bear minimum efforts to get EIC on top of everything else. It's the red state rural poor that has like 1 Walmart that will suffer from welfare work requirements.
EIC stocks ran to insane levels on the same principles as Tesla. Short sighted company that just got big because it was first, getting investors who's sole reason for buying was the vibes, completely devoid of underlying fundamentals and ZERO chance of standing the test of time.
Just because there are many jobs open on the lowest rungs, doesn't mean those jobs aren't easy to fill. Because they *are* easy to fill in the context of skills required to fill them, which is what I was expressing. There is very minimal training involved with someone working a cash register, stacking boxes, or picking produce. ​ >Increasing min wage does not lead to hyperinflation…lol. Finland, Sweden, Norway. ... Are always bandied about as being the Utopia for society, yet each have their own lingering and looming economic issues unfolding. And Sweden and Norway don't even have national minimum wage laws. The government stays out of it. Instead Union controlled collective bargaining agreements operate in lieu. But they get paid a lot more due to the fact they are taxed *MUCH* more. About a third of their paycheck goes to the state immediately. Then an additional 25% Value-Added-Tax (VAT) on goods and services, among other taxes. In the United States, people are paid less but they also are taxed far less. It's a 12% rate between around 44k and 11k dollars earned per year. And with the EIC likely reduces that taxed amount even more. People on the lowest run pay far far less than the people at the top. Take this quote, *"The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent."* So Scandinavia and the United States have totally different economic systems that aren't so easily directly compared, as a result. Sweden also has traditionally held a very strong work ethic among it's natives. Even outside of Sweden, those from Sweden tend to thrive better economically. So it proves the social welfare state in Sweden isn't really the source. It's the culture. In the US the work culture is minimum effort for minimum pay. They don't care. Even if that minimum pay was 30 dollars an hour they'd still say they're getting minimum pay so they produce minimum effort. And increasing minimum wage suddenly and dramatically can lead to a demand-pull scenario of very high inflation. You now have a large body of workers with suddenly a lot more cash. Products and services are thus now more in demand, but the output of these products and services hasn't the capacity to increase in time. ​ >Yes a rising tide will lift all boats but the reality is wages have been stagnant for decades. While money flowed to the top to never be seen again. Just because the minimum wage has been stagnant for a long time doesn't mean doubling it in a single go is the right answer. If anything it has caused more harm than good. Slow and steady wins the race. Not doing nothing for a decade then a sudden ramp up to catch up. That causes severe ripples throughout the economy. ​ >Yes if little Johnny working for $15 an hour makes Ted the construction worker angry cause he’s making $20 and he goes and asks for a raise that’s not a problem, in fact that’s a good thing. Wages can’t stay stagnant when COL keeps going up it creates to much stress on state and federal funds/systems. You of course leave out the fact that having salve wages means middle class Americans are subsidizing companies. The correlation is COL goes up, in part, because wages are increasing. You can't pay people, at the lowest rungs of society, a lot more suddenly then expect everyone else isn't going to feel the effects of that. You couldn't do it even at the top end! Wages have to come from somewhere and, as ideally as it seems, that isn't going to come from upper management's pockets. Instead the cost of goods will increase due to increased costs from the company, over time. Plus, in the short term, a segment of people now have more money to spend which increases demand for a limited amount of goods. This also increases the cost of those items (demand-pull). The issue all of you aren't getting is you can't just ramp up the baseline wage suddenly and dramatically and expect everyone else to take one for the team. That's not realistic. The world operates in a much different way than they teach in school how it theoretically *should* work. And it does so in order for it to actually function.
**[East India Company](https://en.wikipedia.org/wiki/East_India_Company)** >The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with East Asia. The company seized control of large parts of the Indian subcontinent and colonised parts of Southeast Asia and Hong Kong. At its peak, the company was the largest corporation in the world. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/stocks/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)
Most successful company in the history of capitalism? The EIC ( https://en.m.wikipedia.org/wiki/East_India_Company ) and VOC ( https://en.m.wikipedia.org/wiki/Dutch_East_India_Company ) might want to have a little chat with you ;S I don't see apple having its personal navy and army and large swaths of land
I get your point entirely. It’s not a completely accurate comparison though. Again, the point was made well - not criticizing. Pretty fascinating learning about the history of the EIC!
While your summary of the East India Company's (EIC) history provides a good overview, it's crucial to remember the darker side of the EIC's actions and their long-lasting consequences. First, the EIC's exploitative practices and monopoly over trade in India led to the suppression of local economies and industries. Forced cultivation of cash crops contributed to massive famines, like the Bengal Famine of 1770, where around 10 million people died. Second, EIC's rule was marked by violence, oppression, and brutality. Millions of lives were affected not only by warfare but also through forced labor, high taxation, and land dispossession. These policies worsened poverty and social unrest in the regions under their control. Don't forget the environmental impact either. EIC's pursuit of profit led to deforestation, soil degradation, and loss of biodiversity in the Indian subcontinent, with effects still felt today. Lastly, the EIC's actions left a lasting legacy on the people of the Indian subcontinent, with political, social, and economic challenges continuing to impact the region. Arbitrary borders and divide-and-rule policies during the British colonial era contributed to regional conflicts and communal tension that persist today. So while the EIC played a part in Britain's rise to power, it's essential to remember the darker aspects of its history and the ongoing consequences of its actions. This gives us a more complete understanding of global history and the effects of colonialism on the modern world.
This isn’t true. The EIC put the borders around what is known as India today. It was just kingdoms like Europe back then, with distinct languages, customs and ethnic groups. If it wasn’t for the EIC, they would have eventually morphed into smaller countries.
EIC brought back "Pajamas" from India to the UK/West hence when I work from home I am in my work Pajamas. Nice
Honestly, I’d be surprised if having EIC hasn’t at least somewhat impacted their stock price
Before EIC India was a rich and prosperous country, when they left, India was one of the poorest countries in the world. Granted if EIC hadn’t come, India would be like Europe with small independent countries.
So EIC was a bunch of theives? If that's the
To say the UK was a backwater & a far flung isolated island prior to the EIC is simply not true.
Right, my facts on the size of their trade might be a bit off. All this info is off the top of my head, from a book I read on the EIC called "the anarchy".
The East India Company. A group of relatively small time investors met in London ~1600, to jointly fund an expedition to the far East to directly procure oriental goods and sell them direct to the English market. Prior to this, the goods had to pass through and be taxed by the ports of the French or Dutch kingdoms, meaning the goods had high final cost in London. At the time, the UK was a proverbial backwater of Europe. The Dutch, French, Spanish and Portuguese kingdoms were far richer and more influential. From a global perspective, the far East, India and china particularly, was much richer and more developed than Europe. The first voyage, the EIC ship stumbled upon a Portuguese vessel returning to Europe with 1200 tons in goods. The EIC ship engaged in piracy, sacked the Portuguese ship, and returned to London with the booty. This first haul was so profitable, it set up the EIC for early growth. Growth was funded by the issue and broad public sale of shares. Over the next 250 years the EIC would grow to be the largest and most influential company in the world. Eventually amassing an enormous army of more than 200,000 soldiers, de facto ruling over the entire Indian subcontinent and beyond. The purpose of which was to monopolize the trade of all of India. At one point, EIC trade accounted for 1/4 of the English economy. The EIC grew so large that the power of the company threatened English democracy, and they had to be dismantled. and India taken over by the British government and administered as a colony. But britain, the country, didn't conquer India, the EIC did. The rise of the EIC and the volume of wealth it generated was a major factor in the rise of Britain, from a weak, small and far flung isolated island nation, to a global powerhouse. This wealth was the primary source of capital that drove Britains other expeditions and colonization of the rest of the world. The effects of this rise to power continue to shape the world today. If there had been no EIC, chances are we wouldnt be sitting here communicating in English. The USA potentially wouldn't exist as we know it. Global history over the last 400 years would have played out very differently.
Anyone here invest in CLO funds (EIC, ECC) or other high yield bond funds (PHD)? I've been getting interested in some of these very high yielding options (>8-10% yields).
The American Rescue Plan raised the maximum Child Tax Credit in 2021 to $3,600 per child for qualifying children under the age of 6 and to $3,000 per child for qualifying children ages 6 through 17. There is also the EIC, child/day care and other tax credits.
Quick question for the group: I made about $800 to much to qualify for EIC, I haven't received my tax reports from investing yet. But if I have more then $800 in losses will that bring down my AGI? I'm still confused as to why my taxable income is only 34k even tho I earned 58.8k but the cutoff for EIC is 58k. Thought it would be based off my 34k taxable income
It could happen; it's happened before... really powerful companies taking on the role of governments and even having their own significant military forces... making untold amounts of money and usually generating untold amounts of human misery in the process. From the most well-establish wiki out there: >The **East India Company** (**EIC**) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with East Asia. The company seized control of large parts of the Indian subcontinent, colonised parts of Southeast Asia and Hong Kong. At its peak, the company was the largest corporation in the world. The EIC had its own armed forces in the form of the company's three Presidency armies, totalling about 260,000 soldiers, twice the size of the British army at the time. The operations of the company had a profound effect on the global balance of trade, almost single-handedly reversing the trend of eastward drain of Western bullion, seen since Roman times. I second your desire for pie. Anybody know where we can get some pie on the cheap?
Disagree based on personal experience. And I haven't encountered many who just didn't file. Plenty who filed and didn't pay. But hardly any who didn't file. And then amongst those that decided to catch up, there is even less because most of them continue to live off-grid mostly. I stopped filling in 2007. In 2015 I was contacted by an IRS scammer. I then contacted the IRS directly (how I figured out it was a scammer). I was in a better place and was already thinking of getting my back taxes squared away. So I wasn't far from taking these steps anyway, but the scammer contacting me sort of pushed me into it. Speaking with the IRS agent, I was told that I was actually in a good place. Sure I wouldn't get returns. And the longer I wait, the more fines or penalties I might accrue -- however, there was no law saying I had to file my taxes. They had my address. They knew I owed them money if I filed. They knew I hadn't filed and wasn't planning on it immediately. He also said that once I filed the returns, I was entering into a contract with the Federal Government. I was agreeing that my tax rate that I paid was insufficient and that I owed more or that my tax rate was more than I should have paid and looking for repayment. And I got some letters and then I decided that I wasn't ready and I flat out ignored them again. And again, I wasn't arrested or brought to court. Or any other law enforcement thing. Several years later, I was a father. I have full legal custody. And I decided to get my taxes in order in 2018. Working off memory here and I didn't really memorize the numbers because it didn't work out as planned 100%. I had EIC credit for both 2017 and 2018. I hired a lawyer and after all was said and done, I was supposed to get 2,800 as a return. Which was taken for school loan default. Wasn't sure I would get it and I sure didn't. Anyway, the run-down was something like $5,300 went to the Fed. Over $4k of that was actual taxes owed. SO less than $1,300 in fines and penalties. My school loans in the same period tripled. My $26,000 in loans ballooned to a whopping $76,000. I digress. Maybe I got lucky. Maybe I'm too poor for them to care. Regardless, that is my experience and what I had an IRS agent tell me.
You know a lot of those federal dollars are given as tax rebates, EIC, grants, and child tax credit. KY and SC are considered low income and low cost states, and the tax code is progressive and favors lower income. I live in SC and we are in the top 3 on domestic immigration, there is something here that people like.
Hell yeah. Now you can claim EIC on your taxes.
I'll take the 1,200. I'll be damned if all the baby mommas that didn't do anything other than squirt out kids get endless subsidies through EIC.
This ends up pushing Eagle Point Income (EIC) to $32 by close on Monday and they are just scratching there heads wondering why their volume jumped 10,000% for no good reason.
https://imgur.com/a/zzKOOtu EIC
That DD sounds like horseshit. Not talking about EIC
Where the fuck did you get that number for the catholic church??? First off, the Vatican is probably worth that in real estate alone. Then, there are multiple dioceses we know of that have endowments of more than $4b alone, and that's just the ones that have reported numbers. Also most dioceses spend millions legal structures to hide their wealth every year, so the real number is likely magnitudes larger. I know you were just trying to put the wealth of the EIC into scale, but please do not regurgitate catholic propaganda that is used to extract billions and billions of tax dollars every year.
How is this true? Unless you are a business owner with lots of deductions this sounds very unlikely. I make 95k and my girlfriend makes about 25k. She pays almost nothing in taxes, when you factor in the EIC she is usually comes out ahead. She is also a "single mom" and just got a check for over 10k from her federal tax return.
I started out after my parents forsook me at 18 when I got 2 years in prison for complicity to robbery. I got out at 20 with absolutely nothing except $80 and a set of state blues to wear. I roamed the streets for some time living with nothing but what strangers and old friends/acquaintances would afford me. I eventually made good with my grandmother and at least had a place to bathe/sleep. To get at least food money, I worked day labor and other various shit jobs while sleeping in my grandmother's attic and various motels. Since I got my GED in prison, I first took advantage of FAFSA because my felony wasn't drug trafficking, and used my $5000 student loan to get a shit apartment and a slightly more reliable car than my 93 taurus i had saved for that was on life support. I ended up dropping out just shy of my associate's because I missed too much from being exhausted. I continued my cycle of apartment living, shit jobs, bad credit, and shit cars while food stamps were just enough to fill my income gap and keep me eating and medicaid kept me on my feet when I had an emergency medical issue or needed medication a few times. Thankfully, I didn't experience any major health crisis on medicaid like so many do because I couldn't imagine dealing with that nightmare. Eventually I started at A****n a few years ago and it truly changed my now little family of four lives. They gave me a chance to work for a low but still much higher than my normal wage even though I was an unemployable felon by most companies' standards. While still using public programs like WIC, SNAP, and the EIC, I busted my ass off at an A****n FC for two years and worked the max amount of hours they would let you work (60 hours). My wife and I purchased a cheap manufactured home that had been a meth den and rehabbed it ourselves so we could own a home with at least 1000 sq. feet to accommodate our new children. When things really took off was when I was accepted into A*****s mechatronics and robotics apprenticeship program. All you needed were some basic math skills and an affinity for fixing things to get in. They sent me to college for 3 months and paid for my room, board, food, and salary while they crammed all the knowledge of a 5 year maintenance veteran into my head. After that, they pay you a maintenance technician's wage and send you off to a building to work 2000 hrs before you get your electrical and industrial maintenance journeyman card and a very nice raise. I just finished all this and am currently going into the next phase where you become a certified Fanuc maintenance tech which can pay very well. I finished the base journeyman program, and now I have a skill that pays well that I can take anywhere. The last step was taking advantage of the FHA home loan program. Even with shite credit, you can get a decent house for just a tax refund down with it. Once I did that, life has honestly been a coast downhill because I'm not thinking about not starving to death every day or my kids having enough space. I eventually needed less and less assistance up to now where I'm still paying the FHA loan and occasionally get a partial EIC. When just 13 short years ago I was eating from a fucking dumpster and living off of friends/family generosity, I feel like it's been a fairly positive outcome. I'm seriously grateful for programs like WIC, SNAP, and the FHA home loan program because I'd probably be dead or still living in a motel without them. I get that I completely lucked out with the company I work for too, but it took me years to find the company that would give me a chance. You're still here? That's my rant... it's really the short version, but it's a real life outcome that is proof positive that you can make it out of poverty in America if you work hard and make the system work for you. Again, I'm not trying to brag or anything because I'm not vain at all, I just can't explain how grateful I am that I was given money that wasn't mine to get me on my feet.
Well the Republicans have also taken auditors off of the rich and put them on working people, where the cost of enforcement is more than the amount recovered, they are especially agressive against the EIC, denying it to many people that qualify. Not just the auditor reassignments like during the Bush years but they've also cut the funding for the IRS, and I'm sure their legal team saw a good share of those cuts.
Yeah, I am into EIC and chillz, also, I have a nice position in DAX stocks buy the US stocks are just too ..idk..scary for me. Recently, I got caught in didi trap and that hurt my US positions so bad. Maybe it's PTSD or something, but still...this market is probably just not for me.
Yo peoples check out wats going on over at Camber Energy major Squeeze soon to be triggered and still very early. New AMC GME in the making right there get in now before 5$ and moon trip EIC EIC EIC
Why do you think they advanced the EIC. Keep people spending till 2022
Honestly, to be candid..... Look up your probability of being audited for your income level.... It's prob something like 6 to 8% for most people that aren't claiming an EIC credit.... I'd roll the dice with those odds and just claim a loss..... No one will ever know unless you get audited. It'd be your little secret.