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To: Chuzzlewit who wrote (53460)	7/23/1998 2:07:00 PM
From: Mohan Marette	Respond to of 176387

Thanks Paul, you know I always had trouble with accounting in college.<g>

To: Chuzzlewit who wrote (53460)	7/23/1998 4:56:00 PM
From: jhg_in_kc	Read Replies (4) \| Respond to of 176387

chuz you still like alan greenspan now? why isnt he in your bestiary? Every quarter he comes out and terrorizes people. Irrational Exuberance. unsustainable. correction inevitable. history tells us. uwarranted speculation. blah blah blah i take a very dim view of this jerk and his convoluted doublespeak. he is a hired hand of the rockefellers and jp morgan and he is sent out to scare people so that the Establishment can make more big bucks. they do not like to see middlewesterns and middle income people getting rich. these new people are not old shoe, you see. they are not century or key or bones. they are rabble and they do not deserve money and its rewards and responsibilities blah blah blah. that's what the Establshment believes. One is either born to wealth or not and there is no mistaking those who werent; and so they send alan out to put the unwashed masses in their place. these hoi polloi you see are vulgar speculators and not stewards of wealth. and they must be caned for their insolence and in the process separated from their money much of which goes ino the coffers of morgan stanley which regurlarly profits greatly from greenspan market corrections. greenspan was alss a member of the ayn rand society in new york city. it has been my painful expernence that anyone who gets obsessed with ayn rand should be avoided at all costs. this is like believing in aliens on earth or area 51. and yet this man can cause real financial pain at a whim. yes, chuzzlewit, where would you put this fool in your bestiary? yours in sport, jhg

To: Chuzzlewit who wrote (53460)	7/23/1998 5:14:00 PM
From: Marie Smith	Respond to of 176387

Chuzzlewitt -- Way back when you asked -- about stock options and the AMT. My time has been limited lately. Your accountant is referring to incentive stock options (ISO's). I quote from a tax book: "For purposes of computing the alternative minimum tax, the taxpayer generally must include the amount by which the exercise price for an incentive stock option exceeds the option's fair market value at the time the taxpayer's rights to the stock are either freely transferable or not subject to a substantial risk of forfeiture." For example: On April 1, 1996, Earl is granted an ISO to purchase 1,000 shares of stock for $30 a share, its current fair market value. On February 28, 1997, he exercises the option and pays $30,000 for the shares that now have a market value of $42/share. For AMT, he as an adjustment item in 1997 (at the time of exercise) of $12,000 ($42,000 - $30,000) At the same time, his employer gets a deduction of $12,000 -- perhaps this is a silver lining. Or not. You also commented that you argue that if the tax system dissuades employees from obtaining stock through incentive programs, then those programs cannot work for long-term goals -- I would think that is true. Marie