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Enterprise Products Partners L.P. Message Board

  • oystergrouch oystergrouch Dec 2, 2005 1:06 PM Flag

    ANOTHER QUESTION

    Which of the pipelines (excluding KMP) do you think has the best management? I'm looking to buy. I have KMP. Your comments on APL make it seem poorly managed and......if they did a 28% dilution......what's to prevent a similar management again..and again?

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    • "But beware of the accountants."

      There are lots of auditors filling in as a tax professional during tax season. And lots of inexperienced tax preparers in general.

      And on the flip side, there's a lot of clients who base their selection of a tax professional on how much they are being charged. And complaining when they get what they pay for.

    • Been following your lead , Chart. Have kmp for years, paa and etp , recent, and yesterday epd. Happy with all.
      Still like a little tpp though.

    • Re to:frank
      "I have used turbo since it came out. Have never ever been audited or made a mistake. It costs $35. yeah, its a pain in the ass, but I get it right."

      I have never been audited and I am 65. My tax person does mine by hand, and on paper. Well the math is done on the computer but not by any tax program. I know close as what it is going to be as I keep good records. I ask questions when I do not understand.

      Last time I used a tax program "Taxcut" I had a refund and a panalty for under withholding. I took me hours and hours to fix it in the progaram, then had pages and pages of attachments to correct estimated tax payments that were not uniform.

      I do not think a tax program can tell me which stock to donate and when, as well as how to itimize every other year.

      It is like anything else, one has to chose wisely their professional help.

      Happy trading.

      -chart-

    • I use TaxCut. Less expensive than Turbotax. I'm getting along in years now so the IRS probably figures an audit would not be worth the expense.

    • But beware of the accountants. I have had an accountant do my income taxes twice. Two different accountants and two different years.
      They both made mistakes that cost me money and fines that resulted in being audited.
      that was over 20 years ago. I have used turbo since it came out. Have never ever been audited or made a mistake. It costs $35. yeah, its a pain in the ass, but I get it right.
      You do know that the accountant is using turbo also.

    • Hope I don't get myself in trouble trying to explain this. I've been retired for ten years and will have to test memory. Havn't even tried to keep up with changes.

      An IRA is not permitted to borrow for investment purposes (or any other purpose for that matter) without tax consequences. If it does borrow to invest, any income allocable to the borrowed amount is deemed UBTI and subjected to tax in the IRA.

      With respect to a partnership, each of its items of income, expense, asset or liability is allocable to the partner on the basis of his percentage interest in the partnership. Thus, if the partnership carries debt in its normal business, a portion of that debt is allocated to the IRA partner and the income earned attributable to that debt is taxable at trust rates.

      Been too long for me to give a clue as to how allocations might be computed but hope this helps.

    • Re to:leemajors
      "- but truth be told tax strategies are not my forte,"

      Would be worthwhile to use a professional tax person to make suggestion.

      I do and it pays off. I pay a tax person $150 a year and they plan my strategy and do my tax prep. I itimize every other year, and donate part of my highest gainers in regualr stocks to charity in place of cash. Pay my property taxes twice one year, none the next. Combine and itimize every other year. They suggest, I follow, and it pays off. I also have 5 K-1's to do each year.

      "Do it yourself taxes" is like "do it yourself surgery". IMHO

      Oh yes, I started with a tax person when this happened.

      I got a letter from my state telling me I owed over $400 from 3 years back, with brief reason that made no sense. I went to a tax person, and financial planner that I knew, they pulled out a paper, said fill in two blanks, sign, mail and all is OK. Done, and state was OK.

      Happy investing.

      -chart-

    • The 1500 units re distros $ amount is probably to much for an IRA. Wait until a couple of the fellows who are really up to speed on this responed.

    • tmck, great post. i missed the fellows post and you did a much better job of answering it then i could have.. great job.
      although, i believe, if he doesn't have to much in the IRA [what is the profit $ amount ?] that he is ok.
      can you explain that for both of our benifits.
      thanks..

    • tmck, great post. i missed the fellows post and you did a much better job of answering it then i could have.. great job.
      althouigh, i believe, if he doesn't have to much in the IRA [what is the $ amount ?] that he is ok.
      can you explain that for both of our benifits.
      thanks..

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EPD
40.18+0.60(+1.52%)Sep 16 4:03 PMEDT

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