The Timmy Palmieri Fund

[Marcial]

Can someone please confirm that the bad has insurance for their equipment?  If the first theft of everything wasn\'t enough to snap them into shape on this issue, they have way bigger problems than a stolen guitar.  Yes, insurance costs money... but look at the alternative if you don\'t have it.  

I will always support the band in any way possible... if we start a fund for the guitar, I will contribute... but if they want to have even a shimmer of hope to make it big, they need to quit the mickey mouse shit.  Someone in the band needs to handle the business (and correctly) if they can\'t afford to hire someone.  Not doing so is a receipe for disaster.

On a positive note, it looks like Timmy will be forced to play the SG for a while...

[Spacey]

i think the bands finances have no place on this board.
there the band,let them do what they gotta do.
there all adults,and i know ronnie does ok as far as the finances go.
ALL I SUGGESTED WAS GETTING A FEW DOLLARS TOGETHER TO HELP OUT TIMMYP.

here is where I think it is sticky,

the band should have money for situations like this, if they don\'t, then we need not to worry.

I don\'t think we should expose the financial side of this band but I do believe that if everything is alright with finances with the band then we wouldn\'t be trying to raise money for Tim or a van for the band.

My thing is this, Ron shouldn\'t have to worry about dealing with the finances and have that take away from time that they could be practicing or writing new songs. There comes a time when you have to realize that you can\'t do it all to the point of proper efficency.

[skalnbyc]

Here is my suggestion:  The Breakfast needs to incorporate itself.  

I thought that was done in 2001?

[lisa]

I know...i tried to discuss this months ago but was meant with glazed looks.  It makes so much sense to me.  Everything they do would be a write-off and it would be them in a different tax bracket and everything... I would love to help with this process if needed

[Ant-Man]

Ron should be practicing new licks on the bass, they need an accountant/finacial planner for that stuff...this is on another realm of business here, professionals need to be dealing with this...

[Marcial]

Ron should be practicing new licks on the bass, they need an accountant/finacial planner for that stuff...this is on another realm of business here, professionals need to be dealing with this...

I agree 100%... BUT if they cannot afford someone to so it for them, then Ron (r someone else in the band is going to have to).  Not taking care of this crap will result in problems... guaranfuckingteed.

[Spacey]

We were talking about this last night spacey...I dont understand how people can say such things. So much talent. I may be pretty small but if you knock them out, i will kick \'em while they are down.

thats what I like to hear.


now,

one way to help this entire band is to sell out the Puppet House as it will be a reachable goal and the band would benefit greatly from this.

I like Freddie\'s idea of autographed pictures and I think Chris has a solid idea too. What if we can some how get the band to sign all 4 albums that they put out and raffle it off as a grand prize on NYE or something.

[bryank]

Here is my suggestion:  The Breakfast needs to incorporate itself.  It will cost a little bit and be a hassle to deal with paperwork, most certainly.  However, once that is done, nearly everything will be a tax write-off.  New van, gas, drinks, food, etc.  They would save tons.  I dont know why nobody has suggested this before...it makes ALOT of sense

You dont have to be incorporated to include any of those things as a write off....I make less than $2000/year playing once a month in a blues band at a local bar and I write off more than that in expenses.  they include amps, guitars, strings, picks, cds, mileage to practice and home, mileage to the bar and back, etc not to mention trips to festivals, etc.  Anything that deals with music is basically a writeoff for me.

Also, a tax write off is just tax exempt not something that you dont end up paying for.  And actually you dont get 100% of any of it....every category has a %.

[Marcial]

I know...i tried to discuss this months ago but was meant with glazed looks.  It makes so much sense to me.  Everything they do would be a write-off and it would be them in a different tax bracket and everything... I would love to help with this process if needed

Incorporating is not that difficult or expensive... my wife just started an LLC all by herself & for not a ton of money (under $500)... it would pay for itself in the first month if the band were to do it... I\'m shocked that they haven\'t already.

[lisa]

Here is my suggestion:  The Breakfast needs to incorporate itself.  It will cost a little bit and be a hassle to deal with paperwork, most certainly.  However, once that is done, nearly everything will be a tax write-off.  New van, gas, drinks, food, etc.  They would save tons.  I dont know why nobody has suggested this before...it makes ALOT of sense

You dont have to be incorporated to include any of those things as a write off....I make less than $2000/year playing once a month in a blues band at a local bar and I write off more than that in expenses.  they include amps, guitars, strings, picks, cds, mileage to practice and home, mileage to the bar and back, etc not to mention trips to festivals, etc.  Anything that deals with music is basically a writeoff for me.

yeah but you are dealing with 2000/yr...the irs will surely question 4 guys trying to write-off 10\'s that.

[bryank]

Here is my suggestion:  The Breakfast needs to incorporate itself.  It will cost a little bit and be a hassle to deal with paperwork, most certainly.  However, once that is done, nearly everything will be a tax write-off.  New van, gas, drinks, food, etc.  They would save tons.  I dont know why nobody has suggested this before...it makes ALOT of sense

You dont have to be incorporated to include any of those things as a write off....I make less than $2000/year playing once a month in a blues band at a local bar and I write off more than that in expenses.  they include amps, guitars, strings, picks, cds, mileage to practice and home, mileage to the bar and back, etc not to mention trips to festivals, etc.  Anything that deals with music is basically a writeoff for me.

yeah but you are dealing with 2000/yr...the irs will surely question 4 guys trying to write-off 10\'s that.

Sorry but it works the same no matter how much you make.  We split everything we make 5 ways including rental expense to rent what we dont own.  Basically the band sends each member a 1099 form at tax time and then each member does what he wants with it.  They can each claim expenses seperately besides the ones that they share.

[Jim Cobb]

please continue discussion of a FUNDRAISER here:
http://www.thebreakfast.info/forum/showthread.php?t=4858