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    • Paul

      New Members: Click Here   03/09/2017

      Hello. If you are a new member, and feel a bit apprehensive about posting in the "open" forums, or, just wish to get your "sea legs" prior to posting in the open forums, feel free to post anything you wish to talk about, in the Newbies Forum. No one will bother you, or give you any sort of grief. Everyone there is happy to help you get answers to your questions.


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softail last won the day on August 3 2010

softail had the most liked content!

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784 Really bored when not online.

About softail

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  1. Typing this on my"IPad Pro" using a Zagg keyboard . Just love it, rarely use my PC anymore, no need to. Battery life is nine or ten hours between charges. Life is good👍
  2. More Americans Renounce Citizenship, New List Released Jun 12, 2017 @ 08:58 AM Every three months, the U.S. Treasury Department publishes a list of people who have renounced their U.S. citizenship. The latest list names the individualswho renounced their U.S. citizenship or terminated their long-term U.S. residency during the first three months of 2017. Although the list is meant to be of all those who expatriated, there has long been debate about how complete these numbers are. The number of this quarter's list was 1,313. The total for calendar 2016 was 5,411, up 26% from 2015, when the total was 4,279 published expatriates. The 2015 total was 58% more than 2014. These numbers may seem small, but expatriations have historically been much lower than these figures. There is no single explanation for the increase, although some renouncers write why they gave up their U.S. citizenship. The reasons for renouncing can be family, tax and legal complications. The numbers are small compared to the influx of immigrants. However, giving up citizenship is a solemn step. Expatriating is rarely about politics, unless you call worldwide tax reporting and FATCA politics. The Foreign Account Tax Compliance Act was enacted in 2010, and took years to implement. It is having an impact bigger than these expat numbers reveal. Despite the official list, many leavers are not counted. Both the IRS and FBI track Americans who renounce. Some renounce because of global tax reporting and FATCA. Dual citizenship is not always possible, as this infographic shows. FATCA has been painstakingly implemented worldwide by President Obama’s Treasury Department. It now spans the globe with an unparalleled network of reporting. America requires foreign banks and governments to hand over secret bank data about depositors. Non-U.S. banks and financial institutions around the world must reveal American account details or risk big penalties. America’s global income tax compliance and disclosure laws can be a burden, especially for U.S. persons living abroad. Like pariahs, they may be shunned because of their American status by banks abroad. Foreign banks are sufficiently worried about keeping the IRS happy that many do not wantAmerican account holders. Americans living and working in foreign countries must generally report and pay tax where they live. But they must also continue to file taxes in the U.S., where reporting is based on their worldwide income. Many claim a foreign tax credit, but it generally does not eliminate double taxes. Moreover, the annual foreign bank account reports called FBARs carry big civil and criminal penalties. Even civil penalties can quickly consume the balance of an account, so enforcement fears are palpable. FATCA has ramped up worldwide and requires an annual Form 8938 filing if foreign assets meet a threshold. Still, leaving America can be costly. To exit, you generally must prove 5 years of IRS tax compliance. And getting into IRS compliance can be expensive and worrisome. A good recent example is Britain's Foreign Minister Boris Johnson. It makes it all the more frustrating if the reason you are getting into compliance is so you can renounce! Kafka might appreciate that, but many people do not. The exit when you make it can be expensive too. If you have a net worth greater than $2 million, or have average annual net income tax for the 5 previous years of $162,000 or more, you can pay an exit tax. It is a capital gain tax, calculated as if you sold your property when you left. A long-term resident giving up a Green Card can be required to pay the exit tax too. Sometimes, planning and valuations can reduce or eliminate the tax, but taxed or not, many are headed for the exits. America charges $2,350 to hand in your passport, a fee that is more than twenty times the average of other high-income countries. The U.S. hiked the fee to renounce by 422%, as previously there was a $450 fee to renounce, and no fee to relinquish. Now, there is a $2,350 fee either way. The State Department said raising the fee was about demand and paperwork, but the number of American expatriations still increased after the fee hike. https://www.forbes.com/sites/robertwood/2017/06/12/more-americans-renounce-citizenship-new-list-released/#6afdc7336fe9
  3. BPI client finds billions of pesos in account By CNN Philippines Staff Updated 12:21 PM PHT Fri, June 9, 2017 91314 Metro Manila (CNN Philippines, June 8) — With the Bank of the Philippine Islands (BPI) experiencing widespread system error since June 7, some of its clients find their accounts with negative figures, while some became instant billionaires. One such client is Daniel Angelo, who originally had around ₱12,000 in his personal savings account. "Nung mga 4:30, nung nag-access na ako sa account ko, na-shock ako dun sa ₱12 billion dun sa passbook ko," Angelo, who was debited ₱12,435,323,567.04, told CNN Philippines' News Night. [Translation: Around 4:30 p.m., when I accessed my account, I was shocked to see ₱12 billion in my passbook.] He said he was monitoring his account because he was using it to pay for his mortgage and loan. Later that night, BPI released a statement, announcing they "have rectified [their] internal system issue. Access to all electronic channels has been restored." However, when Angelo checked his account on the morning of June 8, he found that his account had zero balance. Later on, he found ₱8,121,781.59 in his account after a balance check at an ATM machine. While he has now been "downgraded" to a millionaire, it was still far from the original figures in his account. "Na-shock na naman ako sa nangyayari, sabi ko 'Ano na naman 'to, bakit ₱8 million naman ngayon?'," Angelo recounted. [Translation: I was once again shocked, I said, 'What now, why do I have ₱8 million now?'] "Nakikita ko po sa Internet, nakikita kong parehas na parehas kami. Baka yung system glitch nila, pare-parehas yung pumapasok," he added. [Translation: I see posts on the Internet where he have the exact same figures. Maybe their system glitch reflected similar figures in our accounts.] When Angelo went to a bank teller to have an over-the-counter transaction, he was told it was not valid at the moment. He recounted there were other people who couldn't complete their transactions, with some retirees unable to receive their pension. BPI, the oldest bank in the country, released a statement on Thursday saying, "in the process of rectifying balances of accounts with mis-posted transactions...certain accounts still reflect incorrect balances." http://cnnphilippines.com/news/2017/06/08/BPI-client-finds-billions-of-pesos-in-account.html
  4. In the first pic they have hats, in the second pic they have helmets on which appear to have equipment mounted on them, not the same thing.
  5. Keep the great pics comping, I love the old times before the invasion of modern ideas.
  6. Don't worry, we forum members have got your back. What are friends for, if not to watch for each other, sometimes it's called tough love.
  7. Perhaps she had someone on call waiting.......just a thought
  8. Now, what the heck are people to do?
  9. Why not instead rent out the condos that you are buying for passive income, no mus, no fus.
  10. This exactly what I have done. My parents wanted to leave me 5 rental properties., I convinced them to leave them to my 2 sons. I felt that it was best that they inherited them while they were in their prime rather then to an old guy that enough anyway.
  11. Are you serious, or are you just trolling? You are hiring house help, not a whore!
  12. It could be that he left his home country for the same reason he can't return. It just may be he would have some folks greeting him at the airport.
  13. Like they say "no good deed goes unpunished ".