Sorry jim to derail but I can't find the video
So I have no idea what you guys are taking about
So I have no idea what you guys are taking about
Tonkawa Casino Silent Auction (4 Viewers)
- Thread starter TheChipRoom
- Start date
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This man asks the important questions!
2 pages later, but I've been busy
Amount of Roth IRA Contributions That You Can Make For 2017 ($5500 or $6500 over age 50)
https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2017
married filing jointly or qualifying widow(er)
> $196,000 zero
sorry, cannot maximize a ROTH IRA, well, I guess zero is maxed out.
Better question would be, did you maximize your 401(k) before buying these chips, and that answer would be :YES
However,
have not decided if I want these, and I am suddenly buying a different house, so there is that to consider.
BiGGyT
That's where I lean as well. Wish the hundos were 8V instead of 814 and wish they'd used anything other than white as the second spot.
detroitdad
Royal Flush
Actually - if you have a chip with a face value of $1,000 and then sell that chip for $20 - you have a $980 capital loss.
No collectibles in your IRA.
You can put whatever you want in a self-directed IRA. Collectibles, real estate, real property, cars, shares in private companies... etc.
Also, to the person above who can't contribute to a roth due to income limits.... look up a "backdoor roth". Basically you contribute to a traditional NON deductible IRA, and convert it to a roth immediately before there's any tax implications. Bada bing, bada boom.
DJ Mack
Flush
Is there a good source for that? Googling "Collectibles in self directed IRA" brings up quite a few links that make it clear that collectibles are prohibited transactions even for self directed IRAs. The other problem with IRAs is that you can't take physical possession of the assets. They have to be held by a trustee and the IRS tends to frown upon people acting as their own trustee, even if they set up an LLC or other some such.
ekricket
Royal Flush
I'd be glad to hold onto anyone's IRA collectible poker chips for them as trustee. Nominal fee, and I'd send you pictures if them anytime they are in play.
DJ Mack
Flush
No doubt. I’m having trouble finding ekricket on IRS list of approved non-bank trustees though. Are you under a different DBA?
Ben
Full House
IRAs are a giant pain in the ass when they own real estate and make my job much harder for about 15 minutes.
Therefore all of you should stop using them, immediately.
Therefore all of you should stop using them, immediately.
See 11 on front page.
OP
OP
Should I post how many receive so far? I have been debating whether to publish that information.
Would be interesting
I think so... It will give people an idea if they might be high or low just based in how many official offers have been made.
Adding transparency to the process without screwing up the core tenets of it is always a good thing.
Nex
Flush
I personally think this already gives some key information away that might substantially alter the amount and kind of bids from the time of publishing onwards.
For this already-running auction maybe not that much, but for other fresh ones certainly.
If I were to run this auction, I would not publish this information.
For this already-running auction maybe not that much, but for other fresh ones certainly.
If I were to run this auction, I would not publish this information.
superchromix
Full House
I would say no, since this breaks the "silent" aspect of the auction, by providing additional information.
Agree 100%. IMO, disclosing that info changes the nature of the auction somewhat. Not to mention it makes it assimetric since some people already submitted a bid without that info.
FDLmold
Royal Flush
If the number is 7 or more, which we know it is, the total bids really don't mean much. We have no way of knowing, let's say the total is 45 bids, what the distribution of those bids is. 42 of those bids could be minimum bids, or none of them.
Nex
Flush
Yet the higher the amount of bids, people are going to figure they'd likely have to bid more in order to increase their chances to get among the top 7.
No, of course they don't know the bid distribution, but they still figure more bids mean more competition.
Nex
Flush
I'm sure we will find out once the auction has ended.
ekricket
Royal Flush
No please. I would tend to think it skews the bidding and changed the nature of the auction as it was set up.
superchromix
Full House
Not all of them.. it would seem he got these chips by other means?
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