Taxes

[Broompilot]

Maybee this should go elsewhere: But here it is.


I had a repair last week, and someone says "Well its tax deducatable" BIG DEAL. In todays enviorment, we are all gona most likely make less than last year.

I needed to drop $1,200 in a repair bill to get what $300 or less in tax deduction 25% is what I generally pay on. Not that I would not use it as a deduction but I would much rather give the IRS the $300 even $600 if I could have not spent that $ on the repair. If your in the 15% withholding than the deductions are even worth less.

I do not understand when someone says All I want to do is not pay taxes and use deductions such as accelerated depriciation. Is the reason for not being in business to begin with is to make a profit?

Creative bookeeping, does it not usually equal more trouble later on?

 

[pjjjjj]

When husb and I were first getting into this, we were speaking to these snakes, who said to us, 'ohhhhh you won't be paying any income taxes, becuz you get to write everything off'.
Ya, we can write all the biz expenses off, that's right, and if there's nothing left afterwards, you're right, we won't have to pay any taxes. Whipppeeeeeeeeeeeeee!
I'd much rather be making the piles of money to pay taxes on!