Snyder Camp Upset!!

[Ruhskins]

This topic is getting old.

[saden1]

When Snyder croaks I wonder if the estate taxes will be so high that his widow/family will be forced to sell the team? I wonder if we can imitate the Egyptians and revolt to force him out? Can Snyder be tricked into selling the team? Will inception be possible ten years from now?

Sigh.

[sportscurmudgeon]

Originally Posted by saden1

When Snyder croaks I wonder if the estate taxes will be so high that his widow/family will be forced to sell the team? I wonder if we can imitate the Egyptians and revolt to force him out? Can Snyder be tricked into selling the team? Will inception be possible ten years from now?

Sigh.

Remember, tax laws can change overnight...

1. I am not a tax attorney or CPA but by my understanding of estate taxes, there will be ZERO estate tax due if Snyder dies first and leaves the team - - and anything else - - to his spouse. There is no limit on what someone can leave to a spouse tax-free. When the spouse dies, however, that is a different story...


2. The uprising in Egypt was successful because the Egyptian Army backed the protesters and not the incumbent government. That is not likely to happen even if there were a massive protest against incumbent Redskins' ownership.


3. Could Snyder be tricked into selling the team? Interesting concept here but it would take someone who is pretty stupid and gullible to fall for a con that would end up that way. I may not have the world's highest opinion of Danny Boy as a person to guide an NFL franchise, but I cannot bring myself to think he is that stupid or gullible.


4. Inception will be science fiction for quite a while...

[Giantone]

[QUOTE=sportscurmudgeon;791945]Remember, tax laws can change overnight...

1. I am not a tax attorney or CPA but by my understanding of estate taxes, there will be ZERO estate tax due if Snyder dies first and leaves the team - - and anything else - - to his spouse. There is no limit on what someone can leave to a spouse tax-free. When the spouse dies, however, that is a different story...



3. Could Snyder be tricked into selling the team? Interesting concept here but it would take someone who is pretty stupid and gullible to fall for a con that would end up that way. I may not have the world's highest opinion of Danny Boy as a person to guide an NFL franchise, but I cannot bring myself to think he is that stupid or gullible.

QUOTE]

1)That was not my understanding , as always depends on where you live and how much it's worth.

3)Alot of Snyders wealth is paper.(not cash assets),if he buys ....lets say an Amusment Park and does it with a stock leverage ....basicly mortgages the Skins to buy something else and that fails....yes he could be made to sell the Skins(or at least his share) but that is alot of maybes.

[SBXVII]

[quote=Giantone;792639]

Originally Posted by sportscurmudgeon

Remember, tax laws can change overnight...

1. I am not a tax attorney or CPA but by my understanding of estate taxes, there will be ZERO estate tax due if Snyder dies first and leaves the team - - and anything else - - to his spouse. There is no limit on what someone can leave to a spouse tax-free. When the spouse dies, however, that is a different story...



3. Could Snyder be tricked into selling the team? Interesting concept here but it would take someone who is pretty stupid and gullible to fall for a con that would end up that way. I may not have the world's highest opinion of Danny Boy as a person to guide an NFL franchise, but I cannot bring myself to think he is that stupid or gullible.

QUOTE]

1)That was not my understanding , as always depends on where you live and how much it's worth.

3)Alot of Snyders wealth is paper.(not cash assets),if he buys ....lets say an Amusment Park and does it with a stock leverage ....basicly mortgages the Skins to buy something else and that fails....yes he could be made to sell the Skins(or at least his share) but that is alot of maybes.

Actually he could.... all they have to do is hand him their vacation form with the sale of the team paper work right below the vacation form and make sure DS presses hard enough for it to go through. lol.

[NC_Skins]

Originally Posted by sportscurmudgeon

1. I am not a tax attorney or CPA but by my understanding of estate taxes, there will be ZERO estate tax due if Snyder dies first and leaves the team - - and anything else - - to his spouse. There is no limit on what someone can leave to a spouse tax-free. When the spouse dies, however, that is a different story...

Virginia Department of Taxation

Legislation enacted by the 2006 General Assembly, House Bill 5018, repeals the Virginia estate tax for the estates of decedents whose date of death occurs on or after July 1, 2007. The estates of decedents whose date of death occurs before July 1, 2007 remain subject to the estate tax provisions. In addition, the repeal of the Virginia estate tax does not affect the filing requirements for fiduciary income tax, regardless of when the date of death occurs.

Basically, Dan Snyder (and many other rich assholes) get to avoid taxes now because the law was repealed back in 2007. Had this been done prior to JKC's death, the team would have been in his son's hand. I'm surprised it took this long for the good ole boys in the "rich club" to get their buddies in state legislation to repeal this.

Short version: We are ****ed as SKins fans.

[Longtimefan]

Originally Posted by Ruhskins

This topic is getting old.

I have a feeling it will remain an issue though until there's a resolution. When that will be is hard to say.

[Ruhskins]

Originally Posted by Longtimefan

I have a feeling it will remain an issue though until there's a resolution. When that will be is hard to say.

Agreed. It's just that I was reading JReid's article and thought..."I really should not care about this issue".

And honestly, I don't. To me, this is not a Redskins issue. Snyder happens to be the owner of the Redskins. But it is easy for me to see this as an issue between a semi-public figure in the DC area and a small newspaper. Now granted, I know everyone doesn't see it this way. But whether he wins or loses, it's just not an issue that will directly affect the way the Redskins will play or what will they do in the offseason.

A much bigger issue that will affect the Redskins? The possibility of not having a football season in 2011.