From the RJ article on the transfer tax 'loophole' legislation: "The bill leaves 13 other exemptions to the transfer tax unchanged, including the two cited in the Raiders-facility deals."
The implication is that these exemptions are a dirty scandal. The exemptions are listed out in NRS 375.090. Most of them involve transfers *without consideration*. For example, does the RJ find it to be scandalous that a married couple transferring their primary residence into a trust (exemption 7) doesn't pay thousands of dollars in transfer tax? Or, more likely, is the RJ blissfully unaware of how these exemptions work, instead focusing their indignation on a handful of Strip property transfers?
Guest
Anonymous
May 5, 2023 5:25 pm
How many stadium rip offs do we have to see before states and cities stop this crap? Why the corporate welfare for ANOTHER sports team/stadium when we don’t even have the infrastructure for the venues we have now? Every time there’s an event, it practically shuts the city down for miles around it because we just don’t have the roads, parking, or transportation to keep doing this.
It's imprecise and inapplicable outside of NY and LA. Most importantly, it ignores the diversity of the bar, perpetuates the systemic inequity in the bar's prejudice against solo practitioners, and is non-inclusive. It's violence
2:36 pm: There is a clear and objective definition of big law. It's embarrassing when regional firms act like their "big law." Maybe the Vegas wannabes who refer to themselves as "big law" don't know how they come off, but it's not good.
Vegas does have a big law firm: Greenburg Traurig. Which means, the definition is not "market dependent." (Note: Greenburg Traurig is not in a high rise).
The definition of big law is:
The term "Biglaw" is used to describe the most successful and largest law firms, and the attorneys that work there are typically called Biglaw attorneys. Not all Biglaw firms operate at a massive level, as there are many boutique law firms that count as part of Biglaw due to the prestige of the firm, equity partners or revenue they generate. Big Law refers to large, high-revenue law firms that are usually located in major cities in the United States and around the world. These firms often have multiple branches and an international presence. Lawyers at Big Law firms generally earn higher salaries than those in other private-sector law jobs. Big Law firms tend to charge clients high fees.
2:05 you have posted an ignorant statement. The NSB absolutely outputs it’s discipline around 100% to solos. That is not arguable. Simply go through the bar magazine for the last few years. You can argue why with debunked claims about solo internal controls etc but I’ll leave that for another day.
As 2:42 has proven decisively, there are no privileged 'big law' firms in Nevada, because all our firms are pathetic in they eyes of LA and NY. We're all equal
2:42 p.m. GT is on the top floor of a, what, six floor building? I guess that probably is not technically a high rise, but they're sweet digs nonetheless.
Guest
Anonymous
May 5, 2023 6:24 pm
Friday Funnies: I have been paying my student loans for almost 20 years. It's set on autopay. On a whim, I checked the balance. The same as when I took out the loans! Wife quipped, "that's the miracle of amortization, dear." 20 years and the balance has not budged. I will be paying this right up through retirement. Good news is the debt expires when I do, so my brilliant wife and beautiful kids will not be burdened.
Unless you've been paying them on an interest only agreement, there's no way they're the same balance. I've had mine on auto-pay since I graduated law school about 14 years ago, paying the exact amount (round up to the nearest dollar) on the fixed interest rate consolidated loan. It's gone down by about 30-35% principal.
Please, someone correct me if I'm wrong but student loan repayment isn't an unlimited timeframe. I thought the longest term was 20 or 25 years. Besides, if you're old enough to have 20 years loans and didn't refinance them, then that's on you for being foolish. Sounds like a troll trying to start a #forgivestudentloans thread.
Unless I am mistaken, the 20 or 25 year repayment period only applied to loans issued after a certain date. Under those income-based repayment programs, whatever principal remains after the repayment period is forgiven. The dirty secret is that there's a tax bomb in the year of forgiveness, as whatever was forgiven as principal is imputed as income, and thus taxable as such. Unless you have a bunch of cash sitting around to pay the increased income tax liability, you'll then probably be stuck in a repayment agreement over some period of years with the IRS, accruing interest at the IRS underpayment rate.
1:43, I think you're talking about the current system of forgiveness after 20 years. I was under the old system (15 years ago), with 6-figure debt and I still had a 20-year payment plan, not unlimited. Why the heck did OP not take advantage of the low interest rates?
Hint: Pay only a little extra each month. Or pay your 1/2 of your regular payment twice per month, or both You can significantly cut the interest paid over the life of the loans and shorten the time to payoff. Open Excel and see for yourself.
I try to always pay at least $500 to the principle each month. Also, keep in mind that if you pay down your loan faster than the amortization schedule, many lenders (like mine) will recast your loan, lowering the monthly payment. Not that you should slow down your payments, but it's nice to know that if I get in a pinch, I can make a smaller payment if I need to.
Guest
Anonymous
May 5, 2023 6:53 pm
11:24 AM–Balance on student loans. That can't be right. Contact whoever services or owns the loan and demand a payment/amortization schedule. They use schedules and payments that make mistakes. They probably won't be able to provide it in which case you can demand a streamline and or cancellation of the loan. A lot of this none sense came to light during the foreclosure crisis where lenders were not able to provide the correct information. It also came up with student loans. As a result some student borrowers were able to discharge their loans in bankruptcy because the lender was unable to provide the original loan documents and their authority to amortize the loan. Don't accept what the lender is telling you is the point. Demand a copy of the loan documents and their authority to amortize the loan. Do you have a copy of the loan documents?
Guest
Anonymous
May 5, 2023 7:17 pm
Quite demoralizing when one of your favorite judges gets a case horribly, horribly wrong.
Just a note on lawyers. Im a cpa in nv and barred in utah and one never sees the harshness and anger in accountant chatting nor blowing in utah. Calm down and enjoy ur lives.
The facts of how and why Wells Fargo should have known that Beasley was running a Ponzi Scheme will be interested to ferret out. I suspect they just want to look somewhere that has money.
From the RJ article on the transfer tax 'loophole' legislation: "The bill leaves 13 other exemptions to the transfer tax unchanged, including the two cited in the Raiders-facility deals."
The implication is that these exemptions are a dirty scandal. The exemptions are listed out in NRS 375.090. Most of them involve transfers *without consideration*. For example, does the RJ find it to be scandalous that a married couple transferring their primary residence into a trust (exemption 7) doesn't pay thousands of dollars in transfer tax? Or, more likely, is the RJ blissfully unaware of how these exemptions work, instead focusing their indignation on a handful of Strip property transfers?
How many stadium rip offs do we have to see before states and cities stop this crap? Why the corporate welfare for ANOTHER sports team/stadium when we don’t even have the infrastructure for the venues we have now? Every time there’s an event, it practically shuts the city down for miles around it because we just don’t have the roads, parking, or transportation to keep doing this.
And this location is a joke. 1 MILE from Allegiant and less than that from TMobile? Come on!
Football games, Hockey games and baseball games overlapping August – October. This is insane.
If we're ever going to have *real* 'biglaw' in this city (not that faux Beckley crap), we are gonna need at least three major league teams.
Is 10:47 unresolved harm from yesterday's thread?
Everyone, please stop using the term 'big law.'
It's imprecise and inapplicable outside of NY and LA. Most importantly, it ignores the diversity of the bar, perpetuates the systemic inequity in the bar's prejudice against solo practitioners, and is non-inclusive. It's violence
Big law. Big law. Big law.
LOL
205
Biglaw is anything more than a dozen attorneys. So enjoy that.
2:36 pm: There is a clear and objective definition of big law. It's embarrassing when regional firms act like their "big law." Maybe the Vegas wannabes who refer to themselves as "big law" don't know how they come off, but it's not good.
Vegas does have a big law firm: Greenburg Traurig. Which means, the definition is not "market dependent." (Note: Greenburg Traurig is not in a high rise).
The definition of big law is:
The term "Biglaw" is used to describe the most successful and largest law firms, and the attorneys that work there are typically called Biglaw attorneys. Not all Biglaw firms operate at a massive level, as there are many boutique law firms that count as part of Biglaw due to the prestige of the firm, equity partners or revenue they generate. Big Law refers to large, high-revenue law firms that are usually located in major cities in the United States and around the world. These firms often have multiple branches and an international presence. Lawyers at Big Law firms generally earn higher salaries than those in other private-sector law jobs. Big Law firms tend to charge clients high fees.
sources: https://www.bcgsearch.com/article/900052384/Biglaw-Firm-What-Is-It-and-Is-It-Worth-It/
https://www.biglawinvestor.com/what-is-biglaw/
https://www.nerdwallet.com/article/loans/student-loans/big-law-salary
https://www.bankrate.com/loans/student-loans/big-law-salaries/
https://money.howstuffworks.com/biglaw.htm
https://www.top-law-schools.com/introduction-to-biglaw.html
Here is a list of actual big law firms: https://abovethelaw.com/law-firm-rankings/top-law-firms/
Solid analysis, 2:42. Here is another authoritative definition: https://tinyurl.com/biglawdef
Thanks a lot, 2:21. Your insensitive triggering has ruined 2:42's afternoon.
242 is CopyNPaste guy.
OH. . . . . and it is spelled "they're"
OH . . . . and Nobody GAF
2:05 you have posted an ignorant statement. The NSB absolutely outputs it’s discipline around 100% to solos. That is not arguable. Simply go through the bar magazine for the last few years. You can argue why with debunked claims about solo internal controls etc but I’ll leave that for another day.
Oh, the humanity!
It's all in your mind, 3:05.
As 2:42 has proven decisively, there are no privileged 'big law' firms in Nevada, because all our firms are pathetic in they eyes of LA and NY. We're all equal
2:42 p.m. GT is on the top floor of a, what, six floor building? I guess that probably is not technically a high rise, but they're sweet digs nonetheless.
Friday Funnies: I have been paying my student loans for almost 20 years. It's set on autopay. On a whim, I checked the balance. The same as when I took out the loans! Wife quipped, "that's the miracle of amortization, dear." 20 years and the balance has not budged. I will be paying this right up through retirement. Good news is the debt expires when I do, so my brilliant wife and beautiful kids will not be burdened.
I'm sorry. That is demoralizing.
Unless you've been paying them on an interest only agreement, there's no way they're the same balance. I've had mine on auto-pay since I graduated law school about 14 years ago, paying the exact amount (round up to the nearest dollar) on the fixed interest rate consolidated loan. It's gone down by about 30-35% principal.
Please, someone correct me if I'm wrong but student loan repayment isn't an unlimited timeframe. I thought the longest term was 20 or 25 years. Besides, if you're old enough to have 20 years loans and didn't refinance them, then that's on you for being foolish. Sounds like a troll trying to start a #forgivestudentloans thread.
Unless I am mistaken, the 20 or 25 year repayment period only applied to loans issued after a certain date. Under those income-based repayment programs, whatever principal remains after the repayment period is forgiven. The dirty secret is that there's a tax bomb in the year of forgiveness, as whatever was forgiven as principal is imputed as income, and thus taxable as such. Unless you have a bunch of cash sitting around to pay the increased income tax liability, you'll then probably be stuck in a repayment agreement over some period of years with the IRS, accruing interest at the IRS underpayment rate.
I had a full ride and graduated with no debt from law school or undergrad. I now live higher than attorneys who have been practicing for 30 years.
can you get IRS bills forgiven in bankruptcy proceedings?
1:43, I think you're talking about the current system of forgiveness after 20 years. I was under the old system (15 years ago), with 6-figure debt and I still had a 20-year payment plan, not unlimited. Why the heck did OP not take advantage of the low interest rates?
Hint: Pay only a little extra each month. Or pay your 1/2 of your regular payment twice per month, or both You can significantly cut the interest paid over the life of the loans and shorten the time to payoff. Open Excel and see for yourself.
I try to always pay at least $500 to the principle each month. Also, keep in mind that if you pay down your loan faster than the amortization schedule, many lenders (like mine) will recast your loan, lowering the monthly payment. Not that you should slow down your payments, but it's nice to know that if I get in a pinch, I can make a smaller payment if I need to.
11:24 AM–Balance on student loans. That can't be right. Contact whoever services or owns the loan and demand a payment/amortization schedule. They use schedules and payments that make mistakes. They probably won't be able to provide it in which case you can demand a streamline and or cancellation of the loan. A lot of this none sense came to light during the foreclosure crisis where lenders were not able to provide the correct information. It also came up with student loans. As a result some student borrowers were able to discharge their loans in bankruptcy because the lender was unable to provide the original loan documents and their authority to amortize the loan. Don't accept what the lender is telling you is the point. Demand a copy of the loan documents and their authority to amortize the loan. Do you have a copy of the loan documents?
Quite demoralizing when one of your favorite judges gets a case horribly, horribly wrong.
Maybe argue better next time? I kid.
Love the title shout out to Gordon Lightfoot….Edmund Fitzgerald on repeat all weekend
Yes! Did you see this about ringing the bell 30 times. https://www.cbc.ca/player/play/2201462339736
29 times and one for Gordon….that’s really beautiful
It's not even 3 p.m. yet and the state bar's website has already crashed. Pathetic.
And it's back. For now.
Shhhh BoG is getting ready for their vacay to Manhattan…they don’t want to hear you peasants bitching about the website.
In Texas, State Farms got some vehicles garnished because it refused to post bond on appeal https://twitter.com/TXantislapplaw/status/1654491849090801668?s=20
Just a note on lawyers. Im a cpa in nv and barred in utah and one never sees the harshness and anger in accountant chatting nor blowing in utah. Calm down and enjoy ur lives.
Hahaha I meant blogging – although blowing might work in some circumstances
Accountants arent supposed to be talking to each other at all. Back under your green eyeshade Cratchit.
Thanks 3:08. That’s fixed all my problems.
The facts of how and why Wells Fargo should have known that Beasley was running a Ponzi Scheme will be interested to ferret out. I suspect they just want to look somewhere that has money.
https://www.reviewjournal.com/crime/courts/lawsuit-wells-fargo-should-have-known-about-las-vegas-ponzi-scheme-2773142/?utm_campaign=widget&utm_medium=topnews&utm_source=homepage&utm_term=Lawsuit%3A%20Wells%20Fargo%20should%20have%20known%20about%20Las%20Vegas%20Ponzi%20scheme
Are there other players in Vegas running similar plaintiff PI loan schemes? Can PI loans be run in a way that's legit?
Here is hoping that the Receiver disgorges the I in IOLTA paid to the NSB.
Thought the interest goes to the Nevada Law Foundation.
A total scam.
Whatever, just disgorge the shit out of that IOLTA scam and pay it to the victims.
I suspect the money passed through Beasley's IOLTA Account so fast that the NLF interest payments were negligible compared to the size of the scam.
No argument there. They were spending it as fast as it came in.