sethb[at]panix.com (Seth Breidbart) wrote:
- quote -

Ibid.

Stu

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << It may not be relied upon for the purpose of avoiding > << penalties that may be imposed on the taxpayer or the > << tax preparer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

- quote -

Sheesh. I remember when those were the _fast_ ones.

Seth

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << It may not be relied upon for the purpose of avoiding > << penalties that may be imposed on the taxpayer or the > << tax preparer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

Harlan Lunsford <lunstax[at]belllsouth.net> wrote:
- quote -

The original Internet was developed to connect government
research labs, corporate labs and university labs doing
government research. The universities in LA were connected,
even if normal folks were not.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

Moderator:
True, but Harlan's the only one old enough to recall a 300
baud modem.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << It may not be relied upon for the purpose of avoiding > << penalties that may be imposed on the taxpayer or the > << tax preparer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

- quote -

The beginning must have passed me by then, cause down here
in LA we could only connect with local BBS and Compuserve,
that granddaddy of all isp's at 300 baud. Maybe that
was because first you had to turn the crank on the wall
telephone though. Hmmm.....

ChEAr$,
Harlan Lunsford

Moderator:
I made my bones on a 600 baud modem. You must be a lot
older than I am, Harlan.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << It cannot be used by any taxpayer for the purpose of > << avoiding penalties that may be imposed on the taxpayer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

Vic Dura wrote:

- quote -

Never to be confused with AARP network of non workers.

ChEAr$,
Harlan Lunsford

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << It cannot be used by any taxpayer for the purpose of > << avoiding penalties that may be imposed on the taxpayer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

Dick Adams wrote:
- quote -

<snip
Thanks for your comments, Dick, and for the brief history
lesson. I was once a Bomar-Brain carrying dumb-terminal
watching BBS master back in the day. Now that I'm a
self-proclaimed and self-styled stock options wizard, to
paraphrase Al Gore, I want to "take the initiative to move
foreward a whole range of initiatives" --- to make my
operation legal.

- GS

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << Copyright (2005) - All rights reserved > << ------------------------------------------------->

- quote -

ARPA net = (Defence) Advanced Research Project Admin network.

--
To reply to me directly, remove the CLUTTER from my email
address.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << Copyright (2005) - All rights reserved > << ------------------------------------------------->

Dick Adams <rdadams[at]smart.net> wrote:

- quote -

When? The ARPANET was 50 kilobit leased lines, 1969-1975.

- quote -

I don't think so.

[Al Gore]

- quote -

Some of the key stuff took place before he was even in
Congress. On the other hand, he _did_ take a leadership
role in getting some of the key later legislation through.

Seth

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << Copyright (2005) - All rights reserved > << ------------------------------------------------->

majestic7 wrote:
- quote -

In his continuing to turn tax questions into political
issues, Harlan Lunsford <lunstax[at]belllsouth.net> wrote:

- quote -

In the beginning there was something that transfered data
over telephone lines been government agencies at 600 baud.

Then someone figured out Bulletin Board Services (BBS's)
via phone lines, dumb terminals, and cradle modems.

Then Bill Gates, the inventor of the true multinational
monopoly, wrote the Commodore operating system and data
transfers were available to the common man, circa 1974.

Sophisticated BBS users turn to the internet where learning
to use a search engine named Veronica was the greatest
technologic advancement since the Bomar Brain!

And then in the early nineties came the World Wide Web.

Al Gores role as expressed in response to a Wolf Blitzer
question was:

"Well, I will be offering -- I'll be offering my vision
when my campaign begins. And it will be comprehensive and
sweeping. And I hope that it will be compelling enough to
draw people toward it. I feel that it will be.

But it will emerge from my dialogue with the American people.
I've traveled to every part of this country during the last
six years. During my service in the United States Congress,
I took the initiative in creating the Internet. I took the
initiative in moving forward a whole range of initiatives
that have proven to be important to our country's economic
growth and environmental protection, improvements in our
educational system."

'What he said was truthful. Unfortunate it was not accurate and it was poorly
worded for a man of his education and excellent presentation
skills. He sponsored, co-sponsored, and voted for bills that
enabled the explosion of the internet as did well over half of
both houses of Congress.

Dick

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

Harlan Lunsford <lunstax[at]belllsouth.net> wrote:
- quote -

The internet has been around a lot longer than 1974. It's
the World Wide Web that's been around only since the early
90's.

By the way, Al didn't ever claim to invent the internet. He
said that, among senators he had been primary in taking the
initiative to fund and develop it so the general population
could get access to it. And he did.

- quote -

Back then it was called Aarpanet, and it first got
established in 1969.

Stu

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

majestic7 wrote:

- quote -

Now, beyond the "internet' considerations......

I think you'd be get some legal counsel about what you're
doing. This is not my area of expertise, but something tells
me that you might tbe running afoul of state and even
federal law.

ChEAr$,
Harlan Lunsford, EA n LA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

majestic7 wrote:

- quote -

(rest is snipped)...

the "internet" has been around THAT long? here I was
thinking that for us common folks, it was only since
about.... 1994, you know, the year Al Gore invented it?

yes, I know the internet has been around longer, being the
outgrowth of a vast governmental network dating back to the
70's.

ChEAr$,
Harlan Lunsford, EA n LA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

"majestic7" <gentrysmith[at]gmail.com> wrote:

- quote -

Be very careful if you decide to make it anything other than
a general partnership, which it (at least legally) appears
to be now. If you set this up as an LLC, limted partnership
or corporation, you could have a problem. Technically you
would be selling a security, so you'd have to either comply
with the securities registration requirements, or find an
exemption that works and make sure you come within its
provisions.

I suppose you could set it up as a hedge fund, but that
takes precision as well.

Stu

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

I've been on the "internet" since 1974 and this is my very
first post to a group, so please bear with me

For the past 3 years I have been supporting myself by
investing in stock options. A few people in my area heard
about what I do and asked if I could invest for them also.
Last October I created a separate "pool" account with my
online brokerage in my name. There are currently six
people in the pool and the account is up 34%.

Things have been pretty simple so far: People give me money
and I put it into the account and trade it. These are
people who know me personally. Most of them let their money
grow but one asks for a monthly payout. When that occurs, I
do an ACH transfer from the brokerage to my debit card and
give him cash.

Word is spreading and one individual has asked me what his
tax liability would be. He wants to know the answer prior
to putting $2500 into the pool. My immediate response is,
"I'm an expert at *making* money, not giving it to tax
people, so I don't know." Can anyone help with this
question?

I would appreciate any answers, resources or links that you
feel may help. I have been motivated to create an LLC and
do this professionally, but for now, I enjoy just investing
for a small group of friends and managing the pool account.

Thanks.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->