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Day trader hit with 172MM Tax bill [Archive] - RonFez.net Messageboard
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WRESTLINGFAN
08-25-2010, 06:33 PM
He asks whats the IRS ?



"The feds tracked his every trade. But because Esparza Bofill never accounted for his losses or expenses in tax filings, the IRS presumed he made a pure profit - a staggering $500 million in income."





http://www.nydailynews.com/ny_local/2010/08/24/2010-08-24_thought_you_had_irs_problems_failed_daytrader_n ailed_with_172m_bill.html#ixzz0xcaSNfyW
Kevin
08-25-2010, 06:37 PM
Stupid Mexican!!!

Oh..

Wait...
Dude!
08-25-2010, 06:41 PM
Stupid Mexican!!!

Oh..

Wait...

he's spanish...
pretty close
pennington
08-25-2010, 06:46 PM
Why is he so surprised, they don't have taxes in Spain? That tax bill was probably generated automatically by a computer. Anyway, he should be fine:

Manhattan CPA Marc Albaum said Esparza Bofill's problems with the IRS are not unusual. "If you don't file, the IRS assumes that you have 100% profit, that basically it's as if you bought the stock at no cost," Albaum said. "Now, the remedy for this is simply to file. He could wipe out anything he owes," said Albaum.
Kevin
08-25-2010, 06:49 PM
He fucking made 500mil worth of transactions in a year?

Jesus, was he doing that shit 24/7 non stop?
Serpico1103
08-25-2010, 07:21 PM
1.4 million dollars of gains a day. Yeah, that is what the poor immigrant does.


Something is not right.
Willmore
08-26-2010, 07:10 AM
He asks whats the IRS ?



"The feds tracked his every trade. But because Esparza Bofill never accounted for his losses or expenses in tax filings, the IRS presumed he made a pure profit - a staggering $500 million in income."





http://www.nydailynews.com/ny_local/2010/08/24/2010-08-24_thought_you_had_irs_problems_failed_daytrader_n ailed_with_172m_bill.html#ixzz0xcaSNfyW



http://www.seinfeldonline.com/kramer2.jpg

Just write it off.
Dude!
08-26-2010, 07:29 AM
http://www.seinfeldonline.com/kramer2.jpg

Just write it off.

i love that scene...classic!



Jerry: So, we're going to make the post office pay for my new stereo now?
Kramer: It's a write-off for them.
Jerry: How is it a write-off?
Kramer: They just write it off.
Jerry: Write it off what?
Kramer: Jerry, all these big companies, they write off everything.
Jerry: You don't even know what a write-off is.
Kramer: Do you?
Jerry: No, I don't!
Kramer: But they do. And they're the ones writing it off.