Christmas Eve from JB's Twitter (no news, just fun)

[Bad Alias]

SMAGT is St. Mark's Academy for the Gifted and Talented. It's the school Irwin Pounder (Bigfoot's kid) went to. It is the school Maggie was currently enrolled in and on break from in the short story this thread is about. It's a boarding school, so she lives there. It isn't going to be cheap. Jim plans on Harry sending Maggie there. Jim plans on writing a series about it.

The way that Harry’s going to set it up is, he’s going to keep Maggie all summer. During the school year, she’s going to go to a boarding school in town, St. Marks Academy for the Gifted and Talented; it’s sort of where the supernatural folks all send their kids. And my intention is, in the next few years I’m going to write kind of a young adult series about Maggie Dresden at the Academy. https://www.comicmix.com/2016/09/26/emily-s-whitten-dresden-files-jim-butcher-talks-peace-talks/

It's a place where the kids are safe from supernatural threats, that their parents know about. Adults don't know about the entire class of supernatural entities introduced in Zoo Day.

Therefore, Jim plans on Harry having the kind of money necessary to send a kid to a boarding school for about a decade. Harry is probably already planning on having Maggie there until she graduates. He knows he has a daughter and that she comes first.

I’ve fallen apart before. I’ve let the madness have me.
But I was a father now.

Harry is going to keep at least enough money to fund Maggie's education because his priorities are different. That was kind of the whole point of Changes.

[Dina]

Yes, that is why I hate Changes and every time I hate the brat much more. I suppose Harry could have set a fund for Maggie, so he wouldn't be able to take the money even if he wanted to.
(I am glad I didn't spend money on Brief cases, I've read all the stories but Zoo Day and I will hate that one).

[Bad Alias]

Yeah, he may feel guilty about it, but he has to put his child first so I don't see him shelling out tens a thousands of dollars for medical expenses for victims.

The total for medical expenses would probably hundreds of millions of dollars.

It represented the costs of medical care for tens of thousands.

If everybody with medical costs had a bill of $1,000 and there are only 2 "tens of thousands" (20,000) then that would be a minimum of 20 million dollars. I have a feeling that the average medical expenses are going to be much higher.

[morriswalters]

According to google, the average cost of a funeral is $7,181. If 2,000 people died, then the funeral costs would likely be over $14,362,000. And thousands, plural, died. Add another 7.181 mil for every additional thousand dead. The medical expenses would probably be much higher on average and many more were injured.

I don't know how half a lock box of diamonds is worth if you want to liquidate them over 6 months or so, but it certainly isn't going to be retail. Probably wouldn't even be wholesale.

Approximately ten months since Skin Game.  A quarter box.  And Dresden split with Murphy.  So 1/8 unless you believe Harry skimped her.

The problem here isn't money.  It might be months before all the victims were identified, depending on the nature of the attack.  And a year or more for full recovery for anyone injured, depending on the nature and severity of the injuries.  And given the privacy issued involved, no one individual could do it.  Try going to the hospital and getting any information on anyone.  If you want to pick Accord members who could do this it would be Marcone, Lara and (probably) the White Council.  The Archive would know who, once it got written down. They have the financial and legal resources between them.

But in an event that kills thousands and injures tens of thousands, I'm guessing a lot of innocent bystanders that have nothing to do with the talks are going to die. One of them could be Murphy. Admittedly, it would be weird to knock off a main character like that.

Murphy is a dead women walking.  The WOJ suggests not Peace Talks. 

Given that Zoo Day and Cold case were the only new entries you were perhaps wise.  Cold Case serves a purpose but Zoo Day was......odd.

[Bad Alias]

Approximately ten months since Skin Game.  A quarter box.  And Dresden split with Murphy.  So 1/8 unless you believe Harry skimped her.

The problem here isn't money.

Where do you get a quarter of a box? It was half a bag of diamonds divided into five cash boxes. I have no idea how full the boxes were other than they were heavy and Marcone was impressed by it.

How much money do you think the diamonds will work out to be? I remember a thread from the long, long ago that had various estimates ranging from insanely high to comfortable retirement levels if invested wisely after the necessary spending spree of a father of one who has basically no tangible real or personal property. The only thread here I found had an estimate of about 11 million dollars for Harry's cut (and I can't find it now). He had Harry's share at something like 21,000 carats.

Here is a link to priscellie's estimate on reddit: https://www.reddit.com/r/dresdenfiles/comments/273l6q/skin_game_spoilers_money/chxf3vf/. The estimates of Harry's share on that page are 11,000 to 17,009.7 carats.

The real problem is figuring out how much the diamonds are worth and what Harry can get for them. Is there a supernatural buyer who is willing to pay vanilla retail prices in bulk? Higher because of the radiation point made in the reddit thread? Is he going to have to fence them a little at a time like Valmont suggested to Charity? What percentage of retail will the fence pay for them? What quality and size are the diamonds?

I found a website that lists per carat prices for parcels of diamonds ranging in size from .002 to 2 carats with per carat price. https://www.gndiamond.com/parcels/. The prices range from $295 to $3,580 per carat to with an average of $1,146 per carat. Based on the amount of carats predicted above and the wholesale prices on the website I found, Harry's take is anywhere from $3,245,000 to $75,180,000 with an average of $18,430,710. That's not taking into account any discounts if he is fencing them.

And none of this takes into account income and gift tax. The highest marginal income tax is 37% and was probably 39.6% when Harry got the diamonds ($118,118.75 plus 39.6% of the amount over $406,750 for 2014). The gift tax rate has been 40% the whole time. Gift tax is a little complicated, but basically, one can give away about $14,000 annually to any number of individuals before having to file something. In addition to that amount, one could only give away $5,340,000 before paying the gift tax in 2014. If Harry exhausts his gift tax exemption, i.e., he has to pay some gift tax, Harry's estate will have no exemption and will pay 40% in estate taxes (unless the exemption is higher when Harry dies). Now someone could donate any amount to a charity set up to help the victims of a disaster and get a tax deduction.

Furthermore, I don't know of anyway to front load all Maggie's SMAGT educational expenses without incurring gift tax consequences, let alone college. If Harry sets up an irrevocable trust for Maggie's education and dumps all the money she'll ever need (for education or otherwise) in it, there will be gift tax consequences.

The average annual boarding school tuition is $38,850. Of course, there are some schools with tuition as low as $10,000 and others as high as $60,000. Most boarding school tuition costs include room and board, but some don't.

http://www.collegebound.net/content/article/how-much-does-boarding-school-cost-/18833/

[Mira]

The total for medical expenses would probably hundreds of millions of dollars.If everybody with medical costs had a bill of $1,000 and there are only 2 "tens of thousands" (20,000) then that would be a minimum of 20 million dollars. I have a feeling that the average medical expenses are going to be much higher.

I was being metaphoric....  Oh and it isn't just about carat weight, you can have a hundred carats of flawed crap not worth much at all...  It is about clarity, color, and cutting...  One 3 carat colorless/flawless well cut stone can be worth from $35,000.00 to $250,000.00 I just looked it up... So if Harry's half a shoe box was filled with those... Well, you do the math..

[KurtinStGeorge]

Hasn't Jim said somewhere that Mab and Winter are in charge of the security and safety at the peace talks? That would mean that Harry would also be responsible for keeping things smoothly and dealing with any problems arising.  That could also be why Molly paid for all the expenses of the fallout.  The people killed would not have been part of any agreements and therefore originally left out of any compensations.  But Harry would see that very differently.

I don't know about that, but I do know that in chapter 1 of Peace Talks,

(click to show/hide)

Carlos Ramirez approaches Harry and asks him to help with security for the upcoming talks.  Perhaps when we read the entire story we will learn that only applies to security of the attending members of the White Council, but Harry won't see it that way.  He will blame himself if any innocent people die on his watch.

So even if Mab has no responsibility for the security and safety of the talks, Harry will feel responsible just the same.

[morriswalters]

Whatever they got out was divided into five boxes on the Capenter's kitchen table.  One each for everyone who got out.  Grey turns his down and Harry gives it to Marcone as a weregild. Harry gives ?/half/? of his to Murphy. So 1/8 of the total after the wergild. Check my math.  I failed arithmetic.

I'll give you some links which explain the tax codes for gifts for education and medical bills.  I'm stating this poorly so here's a link. 

I should tell you this is money from a criminal enterprise. Hitting the gift tax limit might be the least of their worries.  It isn't reportable income.  You can't bank it.  Cash transactions over a certain figure are automatically reported to the IRS. 

And your cost calculations assume selling the diamonds on the open market.  Not gonna happen in the US.  You'll need a fence, which will mean a significant discount from market. 

You weren't suffering under the illusion that you could just drop 20 million in a saving account and call it good?  Harry's covered by the White Council, it's one of their purposes. Valmont and Binder are criminals and know the ropes, Murphy is a cop and knows what not to do.  Do the archangels have a bank?

The word is that Marcone is hosting.  Ivy is attending.  I assume that Harry and Ramirez are tasked by the White Council.  And Molly is apparently in the mix somewhere.

[Dina]

If the school is for supernatural people they could have a system to manage the money, no questions asked. So perhaps Harry put the biggest part of the diamonds as payment for Maggie's education.

I am just saying, I have not read Zoo Day or the first chapters of PT.

[KurtinStGeorge]

If the school is for supernatural people they could have a system to manage the money, no questions asked. So perhaps Harry put the biggest part of the diamonds as payment for Maggie's education.

I am just saying, I have not read Zoo Day or the first chapters of PT.

1. Doesn't that seem like something Marcone would do?  He has a supernatural bank; or make that a bank for supernatural customers, so why not an investment service or money (loot) transfer service for the same groups and individuals?  Of course I can't see Harry trusting anything run by Marcone.  Now that I think about it, Harry should get a safe deposit box at Marcone's bank for his diamonds, but he won't for the reason above.   

2. That's why I spoiler tagged it.  I know many people haven't read chapter 1 and I know some of those same people are loath to learn spoilers so far in advance of the actual publication.  Funny thing is, it's been so long since I read chapter 1, I barely remember what any of the characters said to each other.  I just remember a few basic facts, so Jim could rewrite that entire chapter and if those two or three major things didn't change, I wouldn't notice the difference. 

[123Chikadee]

Hm, well I'm terrible at math, but I think it's safe to say all the diamonds are top notch, illegality not withstanding. But yeah, the supernatural folks would have something set up. Maybe Harry will go to Molly instead of Marcone, or he'll be able to find someone else?
Yeah, I can't remember that first chapter well either. I imagine the basic outline is the same.
By the way, am I the only person who isn't wild about the supernatural school idea? Feels a little too Harry Potter to me. I dunno this concept just came outta nowhere for this series.

[Mira]

Hm, well I'm terrible at math, but I think it's safe to say all the diamonds are top notch, illegality not withstanding. But yeah, the supernatural folks would have something set up. Maybe Harry will go to Molly instead of Marcone, or he'll be able to find someone else?
Yeah, I can't remember that first chapter well either. I imagine the basic outline is the same.
By the way, am I the only person who isn't wild about the supernatural school idea? Feels a little too Harry Potter to me. I dunno this concept just came outta nowhere for this series.

Those thoughts crossed my mind as well, plus it seems like the hero always fathers a daughter instead of a son.

Harry was asked to be responsible for security... However I doubt that he is responsible for the
politics that went on during Peace Talks which lead finally to all the deaths and injuries.

[123Chikadee]

I'm not that into Harry Potter much anymore, so that's not really Dresden-verse's fault. Yeah, I'm kinda hoping that {Spoiler} has a son.
Oh, I doubt that he will be, no matter how much he'll act like it is. He just takes his responsibilities too seriously sometimes. How did all those casualties happen? That many people, it feels like urban warfare. 

[morriswalters]

By definition any major fight in Chicago will be urban warfare.

[Dina]

By the way, am I the only person who isn't wild about the supernatural school idea? Feels a little too Harry Potter to me. I dunno this concept just came outta nowhere for this series.

You are not