Conversation with a dealer...

[fantastic_four]

What about a Limited Liability Corporation infers that it's a consortium? I thought LLCs were just a way for smaller companies to minimize legal and tax burdens that larger corporations have.

[sborock]

While we are cleaning up mis-information; There is no such thing as a former Hells Angel.UR in it for life.

 

Kind of like being a CGC grader

[Jeffreykli]

I'm a corporate attorney that's formed more than his share of corporations, limited partnerships, and limited liability companies. In general, an LLC is a legal entity similar to a corporation, but taxed as a partnership. The primary benefits of an LLC are that there's only one level of tax (no tax at the entity level) and there's limited exposure to liability for the members. The LLC has members (call them partners or shareholders) who own the LLC. It's the members who share in the profits and losses of the company.

 

What Steve is saying is that it's a private company, and the members of the company (whether they're individuals or other entities) are NOT the same as the Charter Members. Now, the term "Charter Members" may not have been the best term, but that's another issue.

[sborock]

Now, the term "Charter Members" may not have been the best term, but that's another issue.

 

Yeah, hindsight is always 20/20

[Zanarkand]

I'm a corporate attorney that's formed more than his share of corporations, limited partnerships, and limited liability companies. In general, an LLC is a legal entity similar to a corporation, but taxed as a partnership. The primary benefits of an LLC are that there's only one level of tax (no tax at the entity level) and there's limited exposure to liability for the members. The LLC has members (call them partners or shareholders) who own the LLC. It's the members who share in the profits and losses of the company.

 

What Steve is saying is that it's a private company, and the members of the company (whether they're individuals or other entities) are NOT the same as the Charter Members. Now, the term "Charter Members" may not have been the best term, but that's another issue.

 

Well then, I stand corrected. Always happy to have to facts straight.

 

I never meant to suggest some vast conspiracy. I just took LLC + "member" dealers and came to the wrong conclusion.

[Timely]

While we are cleaning up mis-information; There is no such thing as a former Hells Angel.UR in it for life.

 

Kind of like being a CGC grader

 

I wondered why you guys took my fingerprints, dental molds and a urine sample when I joined up. I guess there really is no way out for me now!

 

West

[deathlok]

While we are cleaning up mis-information; There is no such thing as a former Hells Angel.UR in it for life.

 

Kind of like being a CGC grader

 

I wondered why you guys took my fingerprints, dental molds and a urine sample when I joined up. I guess there really is no way out for me now!

 

West

 

So I guess there really is a hazing ritual for new graders over at CGC.

[nearmint]

While we are cleaning up mis-information; There is no such thing as a former Hells Angel.UR in it for life.

 

Kind of like being a CGC grader

 

I wondered why you guys took my fingerprints, dental molds and a urine sample when I joined up. I guess there really is no way out for me now!

 

West

 

Come on, West, even if you could escape the chains, cuffs, and locked grading room door, you'd be just like those prisoners that escaped a few weeks ago, went and bought some beer, then WENT BACK to jail.

 

You're a lifer.

[uclapeterg]

Here in Los Angeles, I can think of close to a dozen local comic shops that do not have a single slabbed comic book.

 

Some of the owners scoff at CGC, and others just don't care for the price/wait/etc.

 

A lot of the owners deal mostly in the weekly moderns and don't bother with back issues. Nor do they find it cost effective to play the HG modern game.

 

I can't even think of a dozen comic shops in Los Angeles

 

Brave New World - SCV

Golden Apple - Melrose

Golden Apple - Westwood

Golden Apple - Northridge

Astounding - Burbank

Earth 2 - Encino

Hi-De-Ho - Santa Monica

Continental - Northridge

Mega City - Simi Valley

Hidden Fortress - Simi Valley

Comics & Fun - Van Nuys

House of Secrets - Burbank

 

and numerous other modern only comics shops.

 

you said LA. Valley doesn't count!

[uclapeterg]

Suppose a store owner has a real nice run of FF10 thru 30,He selects the bet five for slabbing and puts the rest out. Someone comes in and asks for issue #16,and the store owner says I have a great copy being CGC'd,come back in 60 days.The person starts looking at the nice copy of issue #19,but is wondering whats wrong with it,that it too isn't being CGC'd.

Different scenerio: A regular client has been looking for a NM Defenders #1. Storeowner gets one in. Will the storeowner get the most money by selling to his regular client or by posting on ebay?

Most,if not all,LCSs have two different markets. One for their everyday clients who buy new books,supplies,and some back issues,and,the worldwide market of e-Bay for their HG material. Anyone who sells HG material soley thru a store these days is being foolish.

 

Depends.. are they always looking for the highest buck or a consistent stream of customers?

[deathlok]

Here in Los Angeles, I can think of close to a dozen local comic shops that do not have a single slabbed comic book.

 

Some of the owners scoff at CGC, and others just don't care for the price/wait/etc.

 

A lot of the owners deal mostly in the weekly moderns and don't bother with back issues. Nor do they find it cost effective to play the HG modern game.

 

I can't even think of a dozen comic shops in Los Angeles

 

Brave New World - SCV

Golden Apple - Melrose

Golden Apple - Westwood

Golden Apple - Northridge

Astounding - Burbank

Earth 2 - Encino

Hi-De-Ho - Santa Monica

Continental - Northridge

Mega City - Simi Valley

Hidden Fortress - Simi Valley

Comics & Fun - Van Nuys

House of Secrets - Burbank

 

and numerous other modern only comics shops.

 

you said LA. Valley doesn't count!

I didn't say LA city, I just said LA meaning LA county.

[uclapeterg]

For example, what would you think if you went into an LCS and saw that they had on their wall the following slabbed books.

 

Fantastic Four #11 CGC 6.5

 

I would think:

 

"How much!?"

 

How much will you give me for my 11 in 7.0? Your first born child?

[uclapeterg]

What about a Limited Liability Corporation infers that it's a consortium? I thought LLCs were just a way for smaller companies to minimize legal and tax burdens that larger corporations have.

 

Well, it's a different way of setting up a company, but it's usually fort the reasons you mentioned.

[uclapeterg]

I'm a corporate attorney that's formed more than his share of corporations, limited partnerships, and limited liability companies. In general, an LLC is a legal entity similar to a corporation, but taxed as a partnership. The primary benefits of an LLC are that there's only one level of tax (no tax at the entity level) and there's limited exposure to liability for the members. The LLC has members (call them partners or shareholders) who own the LLC. It's the members who share in the profits and losses of the company.

 

What Steve is saying is that it's a private company, and the members of the company (whether they're individuals or other entities) are NOT the same as the Charter Members. Now, the term "Charter Members" may not have been the best term, but that's another issue.

 

I never understood what the difference was between a corporate attorney and a CPA (which I am one). We both did a lot of the same thing for clients -- I think we charge less though.

[FFB]

I'm a corporate attorney that's formed more than his share of corporations, limited partnerships, and limited liability companies. In general, an LLC is a legal entity similar to a corporation, but taxed as a partnership. The primary benefits of an LLC are that there's only one level of tax (no tax at the entity level) and there's limited exposure to liability for the members. The LLC has members (call them partners or shareholders) who own the LLC. It's the members who share in the profits and losses of the company.

 

What Steve is saying is that it's a private company, and the members of the company (whether they're individuals or other entities) are NOT the same as the Charter Members. Now, the term "Charter Members" may not have been the best term, but that's another issue.

 

I never understood what the difference was between a corporate attorney and a CPA (which I am one). We both did a lot of the same thing for clients -- I think we charge less though.

 

CPAs at larger firms usually charge more than lawyers. A good buddy of mine who has been a CPA for two years less than I've been a lawyer has a billing rate almost $100 an hour higher than mine and he's not even at a Big 4 firm (he's at BDO Seidman). And the wife of a friend of mine who is a tax attorney at D&T was charging more during her second year than I charge now. It is insane what people pay for accounting services from the Big Four.

[PovertyRow]

I wondered why you guys took my fingerprints, dental molds and a urine sample when I joined up. I guess there really is no way out for me now!

 

West, you have fallen for one of the three the classic blunders! The first is "Never get involved in a land war in Asia." Only slightly LESS well known is #2: "Never go up against a Sicilian when DEATH is on the line!" And the least known of all? "When they take fingerprints, dental molds and a urine sample, they ALREADY have FAR more information on you then Woodward and Bernstein had on Watergate!

[tth2]

I never understood what the difference was between a corporate attorney and a CPA (which I am one). We both did a lot of the same thing for clients -- I think we charge less though.

 

CPAs at larger firms usually charge more than lawyers. A good buddy of mine who has been a CPA for two years less than I've been a lawyer has a billing rate almost $100 an hour higher than mine and he's not even at a Big 4 firm (he's at BDO Seidman). And the wife of a friend of mine who is a tax attorney at D&T was charging more during her second year than I charge now. It is insane what people pay for accounting services from the Big Four.

 

Scott, Scott, Scott. Sigh. You forgot the biggest difference. Lawyers MAKE more.

 

Seriously though, either your firm bills you out way too low, or companies in the bay area are getting taken for a ride by their auditors. Or both.

[Jeffreykli]

I never understood what the difference was between a corporate attorney and a CPA (which I am one). We both did a lot of the same thing for clients

 

The line gets blurrier for me anyway, since I have an advanced tax law degree, and prepare returns, represent clients in audits, negotiations with the IRS, etc. But, lawyers offer legal services beyond setting up the companies, such as prepare contracts, licenses, leases, as well as equity financings, corporate governance, and the like. Do you form companies and draft their operating/shareholder agreements?

[Jeffreykli]

Seriously though, either your firm bills you out way too low, or companies in the bay area are getting taken for a ride by their auditors. Or both.

 

Trust me, Scott's firm is not billing him out way too low.

[FFB]

I never understood what the difference was between a corporate attorney and a CPA (which I am one). We both did a lot of the same thing for clients -- I think we charge less though.

 

CPAs at larger firms usually charge more than lawyers. A good buddy of mine who has been a CPA for two years less than I've been a lawyer has a billing rate almost $100 an hour higher than mine and he's not even at a Big 4 firm (he's at BDO Seidman). And the wife of a friend of mine who is a tax attorney at D&T was charging more during her second year than I charge now. It is insane what people pay for accounting services from the Big Four.

 

Scott, Scott, Scott. Sigh. You forgot the biggest difference. Lawyers MAKE more.

 

Seriously though, either your firm bills you out way too low, or companies in the bay area are getting taken for a ride by their auditors. Or both.

 

I always think my billing rate is too low, but that's just the ego talking. Our rates are among the highest in the bay area, so that ain't the problem. Large accounting firms just charge obscene rates. It's crazy.