CraftWEB Hot Glass Talk  

Go Back   CraftWEB Hot Glass Talk > Hot Glass > General Hot Glass Discussion

Reply
 
Thread Tools Display Modes
  #1  
Old 06-05-2018, 09:37 AM
Rich Samuel's Avatar
Rich Samuel Rich Samuel is offline
Registered User
 
Join Date: Apr 2002
Location: Seattle, WA
Posts: 2,376
Rich Samuel is on a distinguished road
Time Marches On

Good luck, Marty!

https://www.seattletimes.com/seattle...ay-for-condos/
Reply With Quote
  #2  
Old 06-05-2018, 11:12 AM
Mark Rosenbaum's Avatar
Mark Rosenbaum Mark Rosenbaum is offline
Registered User
 
Join Date: Apr 2002
Location: New Orleans, LA
Posts: 973
Mark Rosenbaum is on a distinguished road
One of the really great guys working in glass.... a real mensch!
Reply With Quote
  #3  
Old 06-05-2018, 07:35 PM
Greg Vriethoff's Avatar
Greg Vriethoff Greg Vriethoff is online now
PotatoFish
 
Join Date: Jan 2007
Location: Charlotte, NC
Posts: 1,986
Greg Vriethoff is on a distinguished road
A little sad about this. I helped run that shop from '99 to '03. I like to think that he's still using some of the stuff I fabricated for him, and it will follow him to a new home.

He'll land on his feet.
__________________
"It's such a fine line between stupid and clever." - David St. Hubbins
Reply With Quote
  #4  
Old 06-05-2018, 07:41 PM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
I am blocked from reading the Seattle times rich
__________________
Where are we going and why am I in this basket?
Reply With Quote
  #5  
Old 06-05-2018, 11:46 PM
Rich Samuel's Avatar
Rich Samuel Rich Samuel is offline
Registered User
 
Join Date: Apr 2002
Location: Seattle, WA
Posts: 2,376
Rich Samuel is on a distinguished road
Quote:
Originally Posted by Pete VanderLaan View Post
I am blocked from reading the Seattle times rich
Who did you piss off in Seattle?

Try clearing your browser's cache. That will usually restart your few free articles before the paywall appears. Or use a browser you haven't used for that site.
Reply With Quote
  #6  
Old 06-06-2018, 10:58 AM
Rick Wilton Rick Wilton is online now
Registered User
 
Join Date: Oct 2005
Location: Calgary, Alberta Canada
Posts: 188
Rick Wilton is on a distinguished road
I find that if you open them in "incognito" mode on google chrome it doesn't block you (at least for most sites that have a paywall)
Reply With Quote
  #7  
Old 06-07-2018, 07:39 PM
Larry Cazes Larry Cazes is offline
Registered User
 
Join Date: Feb 2006
Location: San Jose, CA
Posts: 860
Larry Cazes is on a distinguished road
This kind of Art "cleansing" is going on full bore here in Northern California. Sad that all of the art community gets pushed out in the name of gentrification.
Reply With Quote
  #8  
Old 06-08-2018, 07:57 AM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
My experience has been that artist tend to migrate to areas where the rent is cheap and the ambience funky nice. They go from just the first to a coalition of people seeking that. Then , inevitably, it gets noticed as a haven for the arts and the rents shoot up. Unless the artist actually owns the site they work in, they'll inevitably get displaced. Certainly i Santa Fe, the people who owned their space on Canyon Road are the only old time folks. It's now pretty much true of the guadalupe district as well and the Baca Street group is under enormous pressure. Real estate goes up way faster than art prices. Right now those prices are in the process of excluding anyone with minimal funds.

When I was a kid, I was looking at buying a gas station in Del Mar when I-5 was moving inland and Del Mar turned into a ghost town. I couldn't meet the requirements of the San Diego Fire Dept so it never happened. I imagine that site, which is now a little mall would stun me.
__________________
Where are we going and why am I in this basket?
Reply With Quote
  #9  
Old 06-08-2018, 09:28 AM
Larry Cazes Larry Cazes is offline
Registered User
 
Join Date: Feb 2006
Location: San Jose, CA
Posts: 860
Larry Cazes is on a distinguished road
Quote:
Originally Posted by Pete VanderLaan View Post
My experience has been that artist tend to migrate to areas where the rent is cheap and the ambience funky nice. They go from just the first to a coalition of people seeking that. Then , inevitably, it gets noticed as a haven for the arts and the rents shoot up. Unless the artist actually owns the site they work in, they'll inevitably get displaced. Certainly i Santa Fe, the people who owned their space on Canyon Road are the only old time folks. It's now pretty much true of the guadalupe district as well and the Baca Street group is under enormous pressure. Real estate goes up way faster than art prices. Right now those prices are in the process of excluding anyone with minimal funds.

When I was a kid, I was looking at buying a gas station in Del Mar when I-5 was moving inland and Del Mar turned into a ghost town. I couldn't meet the requirements of the San Diego Fire Dept so it never happened. I imagine that site, which is now a little mall would stun me.
I suppose the lesson to be learned and the only defense against it is to buy instead of leasing. I have great respect for anyone who can make a decent profit doing this.
Reply With Quote
  #10  
Old 06-08-2018, 11:18 AM
Mark Rosenbaum's Avatar
Mark Rosenbaum Mark Rosenbaum is offline
Registered User
 
Join Date: Apr 2002
Location: New Orleans, LA
Posts: 973
Mark Rosenbaum is on a distinguished road
I rented for the first 3 years of my studio. I thought it was a waste to rehab the building on my own dime and set up the electrical and gas to my specs and then be at the whim of the landlord. I was lucky to find my current building 3 blocks away and at a time when no one wanted to invest here. Skip forward 25 years, and the prices for houses are getting $230 a square foot and all of the properties nearby are bought up. I'm glad that my opportunity arose, and I am sitting in my "retirement".
Reply With Quote
  #11  
Old 06-08-2018, 11:35 AM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
Back when Algiers wasn't chic. Selling the home , acreage and water rights in the house and studio Mary Beth and I built with our own hands was the highway to being able to move to New Hampshire on this tree farm. My rent on the gallery downtown? $5,400 per month. Now it's $7,200 per month. The trouble is most of the clients quit as well. I'm glad we got away.
__________________
Where are we going and why am I in this basket?
Reply With Quote
  #12  
Old 06-10-2018, 10:37 AM
Tom Fuhrman Tom Fuhrman is offline
Registered User
 
Join Date: Apr 2002
Location: hills of Tennessee
Posts: 1,362
Tom Fuhrman is on a distinguished road
Quote:
Originally Posted by Mark Rosenbaum View Post
I rented for the first 3 years of my studio. I thought it was a waste to rehab the building on my own dime and set up the electrical and gas to my specs and then be at the whim of the landlord. I was lucky to find my current building 3 blocks away and at a time when no one wanted to invest here. Skip forward 25 years, and the prices for houses are getting $230 a square foot and all of the properties nearby are bought up. I'm glad that my opportunity arose, and I am sitting in my "retirement".
Mark, start planning on how to sell that property as you will get blasted with income taxes when you divest yourself of it. Get a good accountant and see what they can propose for you. Having "your retirement" taxed before you ever get it is a bummer. Been there and done that.
Reply With Quote
  #13  
Old 06-10-2018, 02:26 PM
Mark Rosenbaum's Avatar
Mark Rosenbaum Mark Rosenbaum is offline
Registered User
 
Join Date: Apr 2002
Location: New Orleans, LA
Posts: 973
Mark Rosenbaum is on a distinguished road
Quote:
Originally Posted by Tom Fuhrman View Post
Mark, start planning on how to sell that property as you will get blasted with income taxes when you divest yourself of it. Get a good accountant and see what they can propose for you. Having "your retirement" taxed before you ever get it is a bummer. Been there and done that.
Thanks for the advice Tom!
Reply With Quote
  #14  
Old 06-10-2018, 08:51 PM
Eben Horton Eben Horton is online now
Registered User
 
Join Date: Apr 2002
Location: Wakefield, RI
Posts: 4,348
Eben Horton is on a distinguished road
Quote:
Originally Posted by Mark Rosenbaum View Post
Thanks for the advice Tom!
Put an apartment in it and claim it as your residence for 2 years.
__________________
<eben epoiese>
Reply With Quote
  #15  
Old 06-11-2018, 07:16 AM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
I think it is more like a capital gains tax than an income tax. Very different rates even within Cap gains. My spider man comic I sold had tax of 10K alone.
__________________
Where are we going and why am I in this basket?
Reply With Quote
  #16  
Old 06-11-2018, 07:21 AM
Rosanna Gusler Rosanna Gusler is offline
Registered Fuser
 
Join Date: Mar 2003
Location: Wanchese, NC
Posts: 909
Rosanna Gusler is on a distinguished road
Yep. Capital gains. 50%.
Reply With Quote
  #17  
Old 06-11-2018, 08:07 AM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
That seems really high. My cap gains on stocks run about 16%. The collectibles were high at 20%. I can't recall the gains on selling our studio in NM. I agree with Tom that a good accountant is needed to plan it but the law keeps changing as well.
__________________
Where are we going and why am I in this basket?
Reply With Quote
  #18  
Old 06-11-2018, 09:08 AM
Lawrence Duckworth Lawrence Duckworth is offline
Registered User
 
Join Date: Mar 2010
Location: Gainesville, GA
Posts: 632
Lawrence Duckworth is on a distinguished road
Quote:
Originally Posted by Rosanna Gusler View Post
Yep. Capital gains. 50%.
Maybe they were that high during the 8 fundamental change years but right now itís 0% for most folks, 15 and 20 for others
Reply With Quote
  #19  
Old 06-11-2018, 01:19 PM
Rosanna Gusler Rosanna Gusler is offline
Registered Fuser
 
Join Date: Mar 2003
Location: Wanchese, NC
Posts: 909
Rosanna Gusler is on a distinguished road
Quote:
Originally Posted by Lawrence Duckworth View Post
Maybe they were that high during the 8 fundamental change years but right now itís 0% for most folks, 15 and 20 for others
I have a paid for rental house. Bought decades ago. My cpa a says 50%. I would have to live in it for 2 years to remove that.

Last edited by Rosanna Gusler; 06-11-2018 at 03:08 PM. Reason: spelling
Reply With Quote
  #20  
Old 06-11-2018, 05:51 PM
Tom Fuhrman Tom Fuhrman is offline
Registered User
 
Join Date: Apr 2002
Location: hills of Tennessee
Posts: 1,362
Tom Fuhrman is on a distinguished road
I can tell you from experience that it really hurts when you end up paying 10's of thousands of dollars that you thought was in your retirement account in taxes.
Beware of contract sales though that space the payments out over a period of years as the buyer can go bankrupt in the meantime and you can end up with holding the paper and a court judgment and never see any money, only some legal bills you have to pay. Been there and done that too.
To prevent having to pay the capital gains on real estate, it normally has to be your primary residence. That's why I say, Find a good accountant to advise you.
Reply With Quote
  #21  
Old 06-12-2018, 06:42 AM
Eben Horton Eben Horton is online now
Registered User
 
Join Date: Apr 2002
Location: Wakefield, RI
Posts: 4,348
Eben Horton is on a distinguished road
Quote:
Originally Posted by Pete VanderLaan View Post
I think it is more like a capital gains tax than an income tax. Very different rates even within Cap gains. My spider man comic I sold had tax of 10K alone.
There is no capital gains tax on your primary residence
__________________
<eben epoiese>
Reply With Quote
  #22  
Old 06-12-2018, 07:19 AM
Eben Horton Eben Horton is online now
Registered User
 
Join Date: Apr 2002
Location: Wakefield, RI
Posts: 4,348
Eben Horton is on a distinguished road
actually, i am wrong about this.. the property has to be your primary residence for 2 of the 5 years that you own it. I don't think that avoidance of capital gains can apply after 5 years.
__________________
<eben epoiese>
Reply With Quote
  #23  
Old 06-12-2018, 08:12 AM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
I would think living in the theater would be hard. I am aware of the residency requirements. It can become complicated if by moving into a building to live in a commercial zone, you violate zoning ordinances. Further, I'm not sure what the ownership on Mark's current residence is. You can't claim two primary residences.
__________________
Where are we going and why am I in this basket?
Reply With Quote
  #24  
Old 06-12-2018, 11:15 AM
Mark Rosenbaum's Avatar
Mark Rosenbaum Mark Rosenbaum is offline
Registered User
 
Join Date: Apr 2002
Location: New Orleans, LA
Posts: 973
Mark Rosenbaum is on a distinguished road
Quote:
Originally Posted by Pete VanderLaan View Post
I would think living in the theater would be hard. I am aware of the residency requirements. It can become complicated if by moving into a building to live in a commercial zone, you violate zoning ordinances. Further, I'm not sure what the ownership on Mark's current residence is. You can't claim two primary residences.
It is a mixed use area. I don't think that the zoning would be a problem.... we do own our home which is located about 5 minutes away....fixing up an apartment and convincing Brenda that we have to live above the studio for 2 years would be impossible!!! I am going to consult a CPA and see if there are any loopholes like setting up a trust or something that the people who actually have money would do
Reply With Quote
  #25  
Old 06-12-2018, 11:55 AM
Pete VanderLaan's Avatar
Pete VanderLaan Pete VanderLaan is offline
The Old Gaffer
 
Join Date: Apr 2002
Location: Chocorua New Hampshire
Posts: 20,402
Pete VanderLaan is on a distinguished road
Again, there is one and one only primary residence. I suppose that you could find out if that's avoidable by having each property owned by just one of you and you can immediately see the inherent risk in that.

We did set up a living trust for both our parents sets and thought it was great but it didn't work out meaningfully at all. The purpose was to keep the State(s) from attaching any of those properties in the event of a catastrophic illness forcing the holdings into liquidation. When MB's mom moved from New Hampshire to Colorado and was taken in by her sister, the function there was that she could be on Medicaid and still keep the 200 acre tree Farm. Colordo said "No, She has to live in her primary residence" even though she was no longer capable of caring for herself, so the purpose of that trust was shattered right away. We would have come to legal action with Colorado when Mary' money ran out, but that never came to pass. She died with about 5K left in her bank account. Then the property passed on to the two surviving sister's and they split it in half. We live on 110 acres of it. The other is unoccupied.
My dad tried the same thing but he botched the trust up while constantly telling his kids that it was all taken care of, so, that property went into probate. It came out of probate about a year later and my brother did an incredible job of managing the liquidation of the property. That, being a primary residence did not have any taxation on the sale at all. Dad owned no other properties.

There's a lot to be said for living near your studio. I wouldn't want to live in it and your insurance company would have fits over it. I remember your glassworks and i don't think that's viable. Our studio in New Mexico was on a contiguous piece of property but there were two tracts of land which made the insurers happy. Even so, the house went right away but not the shop and the shop had all the potential of becoming a white elephant. It was a major mess as a sale in the end.

I would have a major conversation with Brenda about your retirement goals-really. While selling the studio may become fuel for retiring, contempation of sailing away has unexpected side effects. Older people really are more comfortable in their familiar surroundings. They live a lot longer surrounded by familiarity. The notion of assisted living etc galls me. While we aren't anywhere near as competent at simple chores as we once were, we still like the routine of them. I don't know how long we'll run the studio but currently, it's still fun and keeps us connected. Craftweb keeps us connected too. Our goal on retirement is met. The consideration now is passing it down to the two kids free and clear and it should give each of them a booster in what they want to do. If they sell it, they can sell it. We'll meet with them soon enough to see what they want to do with it.

Our studio now is not even insured. It's the addition barn added to the 1811 barn. It has separate utilities completely from the house. It has two bay doors and would convert back to a two car garage in about a week. While we were once an ocean going vessel, these days, we sail the inland waterways if that makes sense.

But I'll tell you one thing. Aging comes at you really incredibly fast. Buying the Visa and Mastercard stock was the best move we've ever made. The two John Deere's are great too.
__________________
Where are we going and why am I in this basket?
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 07:04 PM.


All published comments within these message boards are the opinions of its contributor and does not represent
the opinion(s) of the owner(s) of this website. Please see the Terms of Use file for more details.

Books to Help Artists Avoid Online Scams: Top 10 Email Scams | Social Media Scams

Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
© CraftWEB.com. Opportunity Network. 2008. All Rights Reserved.