2022-2023 NBA Season Thread

[WiggyRuss]

Yeah the smart rich people put everything into trust so they can control but not own it, and can like no tax lol

so- just a crash course.

when people complain about a "death tax" in America they are usually full of shit. Most states have gotten rid of death taxes.

Death taxes on the federal level, for an individual, start after you have given away about 13 million dollars (10M indexed for inflation- the number is cut in half to 5 mill indexed for inflation in 2026 once trumps tax bill sunsets).

So- during your life, or at your death- you can give away about 13M without estate tax. There are some exceptions, like 15 grand a year you can give away and not eat into your exemption- pay for schooling etc...but they are fiarly diminimus.

so- say you have an asset that you think is going to appreciate and you have a ton of money and dont need control--- you can give say- 5 million to an irrev trust where you give up control, but it can still be for your benefit or your spouse's benefit.....that 5 million dollar asset (say an LLC interest, or stock, whateveR), grows to 20M by your death--- only the 5M you initially gave to your irrev trust is charged against your exemption.

thats a BASIC idea...there are tons of other little methods as well- but that is kind of as basic a strategy as it gets.

Its why there are certain exemptions for farms--- back in the day- say a farm was in the country- now a city has grown up over it and the land is worth a lot--- and the family is cash poor- mom and dad die- kids inhereit a 30M piece of property but dont have the money to pay the taxes so they have to sell the farm to pay the taxes.

I bring up this example because it is actually very closely related to a sports team. Say a guy like Jerry Buss buys the Lakers for 5 million----- when he dies its worth 5 billion---- now that is a LOT of tax to transfer it to your children even if you have done some good planning so you can stretch out the payments over a course of years.

 

[Mecca of the “B” Team]

Davis continuing to play game after game is sustainable?

@thunderc

Yes, you were right.

I should have fricking known better…lol

 

[Tai Chi≈Surfing]

Knicks Knewzzz....

Knicks lose '25 pick after Brunson signing inquiry

The Knicks are losing their 2025 second-round pick after the NBA investigated their signing of Jalen Brunson this summer, the league announced Wednesday.

www.espn.com

 

[Mecca of the “B” Team]

so- just a crash course.

when people complain about a "death tax" in America they are usually full of shit. Most states have gotten rid of death taxes.

Death taxes on the federal level, for an individual, start after you have given away about 13 million dollars (10M indexed for inflation- the number is cut in half to 5 mill indexed for inflation in 2026 once trumps tax bill sunsets).

So- during your life, or at your death- you can give away about 13M without estate tax. There are some exceptions, like 15 grand a year you can give away and not eat into your exemption- pay for schooling etc...but they are fiarly diminimus.

so- say you have an asset that you think is going to appreciate and you have a ton of money and dont need control--- you can give say- 5 million to an irrev trust where you give up control, but it can still be for your benefit or your spouse's benefit.....that 5 million dollar asset (say an LLC interest, or stock, whateveR), grows to 20M by your death--- only the 5M you initially gave to your irrev trust is charged against your exemption.

thats a BASIC idea...there are tons of other little methods as well- but that is kind of as basic a strategy as it gets.

Its why there are certain exemptions for farms--- back in the day- say a farm was in the country- now a city has grown up over it and the land is worth a lot--- and the family is cash poor- mom and dad die- kids inhereit a 30M piece of property but dont have the money to pay the taxes so they have to sell the farm to pay the taxes.

I bring up this example because it is actually very closely related to a sports team. Say a guy like Jerry Buss buys the Lakers for 5 million----- when he dies its worth 5 billion---- now that is a LOT of tax to transfer it to your children even if you have done some good planning so you can stretch out the payments over a course of years.

Is it worth it to put a 250k lump sum in a spendthrift account to make sure my triffling brother doesn’t burn through it in 6 months?

I literally want to pay his rent for 3 years and leave him enough to eat, nothing more.

 

[Mecca of the “B” Team]

Knicks Knewz....

Knicks lose '25 pick after Brunson signing inquiry

The Knicks are losing their 2025 second-round pick after the NBA investigated their signing of Jalen Brunson this summer, the league announced Wednesday.

www.espn.com

Losing a 2nd round pick is worth it to get a head start in free agency.

 

[Tai Chi≈Surfing]

Losing a 2nd round pick is worth it to get a head start in free agency.

Yep...who the heck knows what'll happen 3 years from now.

The FO did what they had to do. No biggie.

 

[Mecca of the “B” Team]

Ewwwwww…..

@Wamu @Gman

I know this is something that has happened in the past, matter of fact, didn’t Atlanta get 4?

But, should it happen this year?

Who doesn’t make it to put Smart in?

Brunson?

Ewwwww…lol

“Look, if the Celtics have the best record in the league in January, they’re going to get three …

“Look, if the Celtics have the best record in the league in January, they’re going to get three All-Stars, and Marcus Smart is going to be one of them. It is hard to justify a guy shooting 43% and …

hoopshype.com

 

[Mecca of the “B” Team]

Shit, maybe it is bad….

 

[DJ Fieri]

Wait, I was right about something?

OKC covering the spread this season.

I took the Thunder +4.

 

[DJ Fieri]

Shit, maybe it is bad….

Well, if it was bad.....he'd be in a walking boot.

But, he's not.

 

[Wamu]

Ewwwwww…..

@Wamu @Gman

I know this is something that has happened in the past, matter of fact, didn’t Atlanta get 4?

But, should it happen this year?

Who doesn’t make it to put Smart in?

Brunson?

Ewwwww…lol

“Look, if the Celtics have the best record in the league in January, they’re going to get three …

“Look, if the Celtics have the best record in the league in January, they’re going to get three All-Stars, and Marcus Smart is going to be one of them. It is hard to justify a guy shooting 43% and …

hoopshype.com

Is he all star material? Well if you only look at his offense obviously not. But he's kind of a good defender I think. He's the heart & soul of the best team in the league. But that doesn't makes him an all star. It would be cool to see him named a reserve though.

 

[WiggyRuss]

Is it worth it to put a 250k lump sum in a spendthrift account to make sure my triffling brother doesn’t burn through it in 6 months?

I literally want to pay his rent for 3 years and leave him enough to eat, nothing more.

You can do a trust, and then act as trustee, and if somethign happens to you, have a successor trustee named.

whats your goal? do you not want to manage it?

a corporate trustee is prob. not going to want to manage anything with only 250k.

just do a really basic trust for his benefit where he has no control--- you act as trustee, do a direct debit for rent so you dont have to manage much...

or just pay it yourself and dont worry about a trust- unless you have untold millions you are keeping from us.....

 

[thunderc]

OKC covering the spread this season.

I took the Thunder +4.

Only team better at covering? Portland lol

 

[DJ Fieri]

Only team better at covering? Portland lol

Well, they didn't when I took them -8 vs OKC.

 

[thunderc]

Well, they didn't when I took them -8 vs OKC.

Yeah that was crazy amount of points based on how the Thunder been playing. Lillard is questionable tonight.

 

[Mecca of the “B” Team]

Well, if it was bad.....he'd be in a walking boot.

But, he's not.

I hope you are right.

But, your boy has a very low pain tolerance if he’s out at least a month for something trivial.

He’s not Kawhi level bad.

But, Kawhi’s team is also not dog shit.

I still don’t get how he got injured.

Didnt he just jump?

He didn’t even land on anyones foot.

Bizzare

 

[Mecca of the “B” Team]

You can do a trust, and then act as trustee, and if somethign happens to you, have a successor trustee named.

whats your goal? do you not want to manage it?

a corporate trustee is prob. not going to want to manage anything with only 250k.

just do a really basic trust for his benefit where he has no control--- you act as trustee, do a direct debit for rent so you dont have to manage much...

or just pay it yourself and dont worry about a trust- unless you have untold millions you are keeping from us.....

I wish…lol

Proceeds from a house sale.

I don’t want to manage it.

I don’t want to have to deal with his ass on a day to day basis.

 

[Gman]

Ewwwwww…..

@Wamu @Gman

I know this is something that has happened in the past, matter of fact, didn’t Atlanta get 4?

But, should it happen this year?

Who doesn’t make it to put Smart in?

Brunson?

Ewwwww…lol

“Look, if the Celtics have the best record in the league in January, they’re going to get three …

“Look, if the Celtics have the best record in the league in January, they’re going to get three All-Stars, and Marcus Smart is going to be one of them. It is hard to justify a guy shooting 43% and …

hoopshype.com

Celtics coming off 2 ugly losses at home to the Magic.

Probably a good thing... gotta keep these NBA-sized egos in check.

 

[tlance]

Well, if it was bad.....he'd be in a walking boot.

But, he's not.

They don’t have a diagnosis yet.

It isn’t an ankle sprain or even a foot sprain.

The fact that they aren’t sure what it is and are seeking so many opinions is definitely not a good sign.

I will be surprised if he is playing again before February. And it might be longer than that.

 

[Mecca of the “B” Team]

Is he all star material? Well if you only look at his offense obviously not. But he's kind of a good defender I think. He's the heart & soul of the best team in the league. But that doesn't makes him an all star. It would be cool to see him named a reserve though.

Yeah, he's more of a defensive presence.

A perimeter oriented, pint sized Draymond.

I'm easily seduced by offense.

So, maybe I'm not giving him the credit he deserves.