Tax bullshit

18 March 2011, 07:45

kcstott

quote:
Originally posted by brad may:
"There are plenty of ways of making a decent living and not owing jack or very little to the feds and state tax collector."
That works until you want to upgrade and the bank won't lend you any money because you don't show enough on your tax returns.
A good friend of mine always says "Owning a business ain't all it's cracked up to be."

well not really. you could argue that a good business shows 4% growth and around 10% in profit. That's common in big business

AMT is based on taxable income. So just expense everything so very little is taxable. I did it for five years and they paid no attention to me

www.KLStottlemyer.com

Deport the Homeless and Give the Illegals citizenship. AT LEAST THE ILLEGALS WILL WORK

______________________________
"Truth is the daughter of time."
Francis Bacon

18 March 2011, 12:54

buckeyeshooter

quote:
Originally posted by Toomany Tools:
As our private economy continues to slow, governments at all levels--local, county, state, and federal will all be scrambling for revenue. Why do you think the so-called Health Care bill included funding for 16,000 new IRS personel?

The governemnt employees are really working hard to collect all they can so they can retire in their early 40's and collect unbelievably generous pensions for ever, along with free medical care and a whole host of benefits that virtually no one in the private sector gets unless the EARN it themselves.

We've got to face the facts: Our governemnts are going broke. I expect to see a collapse in the bond market real soon, and when no one will buy municipal or federal bonds the real fireworks will begin. I advise everyone to store some food.

I think you are right on the money!! I'm looking at a retirement home in a different country right now!

18 March 2011, 19:06

22WRF

[QUOTE]Originally posted by Toomany Tools:

We've got to face the facts: Our governemnts are going broke. I expect to see a collapse in the bond market real soon, and when no one will buy municipal or federal bonds the real fireworks will begin. I advise everyone to store some food.[/QUOTE

Our government (WE collectively) are already broke to the tune of 13 Trillion dollars and counting!

However, the Government (we collectively) have a very special power. The power to make money out of thin air. So long as the government continues to meet its obligation to pay principle and interest on that $13 trillion folks will continue to support that debt.

18 March 2011, 20:30

tiggertate

quote:
Originally posted by MHC_TX:
quote:
Originally posted by Duane Wiebe:
Little torqued up, but blood pressure is near normal today. Now, when I make a appeal to the arbitrary assessment, I have to appear before the Board of Equalization (Three members) and the Tax office tells me that three of them will be appearing. Is this rational? Why would it take three tax assessors to present their side?

And..I suppose they are all going to get overtime..which of course comes out of taxpayers pockets.

you need to pack up and move to TEXAS!

Excluding Harris and Travis counties...

"Experience" is the only class you take where the exam comes before the lesson.

John Farner

If you haven't, please join the NRA!

18 March 2011, 23:23

wildcat junkie

quote:
Originally posted by Duane Wiebe:
Little torqued up, but blood pressure is near normal today. Now, when I make a appeal to the arbitrary assessment, I have to appear before the Board of Equalization (Three members) and the Tax office tells me that three of them will be appearing. Is this rational? Why would it take three tax assessors to present their side?

And..I suppose they are all going to get overtime..which of course comes out of taxpayers pockets.

It takes 3 so that they can support each outher while you are the sole witness on your behalf.

I haven't read all the posts so I don't know if anyone has suggested this yet.

Take a small video camera & record the hearing. Have every one of them introduce themselves on camera.

They CANNOT prevent you from recording the proceedings! FOIL requires that they allow any recording device to be used unless it is "obstructive or intrussive".

I fought the local assessor & the "grievience board" for 5 years. I went to small claims (and won) & even hired a lawyer once after that. The lawyer was a waste of time as the he did not want to resolve the isssue. He wanted to escalate the thing over many years to collect the maximum fees.

The video camera solved the problem. They tried to say I could not use the camera, but when I quoted someone from "The Department of State" they changed their tune.

Don't let them gang up on you 3 to 1!

A video recording of the hearing will change everthing in that respect.

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19 March 2011, 04:16

Doc224/375

quote:
Nevada, widely known as the gambling capital of the world, has the fastest population growth of any US state, yet only a few miles from Las Vegas you'll find yourself in the wide open spaces of the "Old West" with its laissez faire attitude that, in many ways, still prevails. With the gaming industry and resulting tourism providing a major share of state tax revenue, along with its business friendly statutes and elected officials, Nevada provides businesses, especially smaller ones, what some consider to be the most advantageous economic, tax and legal environment in the US.

Along with having most of the benefits of Delaware, Florida & Wyoming, Nevada has NO personal NO corporate income tax, is located in the booming western US (next to California & Arizona), and is the " ONLY STATE " to reject all information sharing agreements with the US, federal tax agency - the IRS.

A simple P O Box establishes a LEGAL BUSINESS ENTITY within the state ,for the purpose of Website registry !!!.

Now if Mr. Wiebe's primary sales site is the Web site in NV. ! ,Just WTF is WA. going to do about it ???.

Duane can have the parts made in Timbuktu for all anyone cares , it's sales as to the tax obligations of which I believe he's concerned with and if WA. are pricks about it , SCREW THEM and Move the sales out of state !!!!!!!!!!!!!!!!!. Perfectly LEGAL no matter where they're manufactured !.

Now use LandSat7 Resmap or Google earth and check Sparks NV. tell me what you see ?. An why do you suppose you see all that in
the middle of Nowhere NV. !!!.

http://landsathandbook.gsfc.na...am/prog_sect1_3.html

http://www.resmap.com/services/index.html

http://www.google.com/earth/index.html

19 March 2011, 05:49

Alberta Canuck

Oregon USED to have an inventory tax and a property tax (tools, etc.) on small businesses in the 1960s. No more. Some counties do not even require a business license. The state does not require any business license either. Oregon still has no sales tax.

It DOES have a state personal income tax and annual county taxes on real estate.

As others have said, there are legal ways to cope. Back when I was an undergrad pre-law major at University of Oregon, everyone had to take at least a year of accounting as a pre-law requirement. And everyone knew the saying: "If you're in business and are paying taxes, you need a new accountant".

My 48 year old son is a CPA in Washington State. and he agrees.

-------------------

One other thing. The tax folk may "request" you bring records for all kinds of years to any hearing, or that you mail them in, in response to an inquiry. But, you are NOT required to KEEP such records! And, obviously, you are not required to submit records you don't have. One of the first pieces of advice any accountant will tell you is that you should not take ANY records with you (or submit them in any other way) that do not pertain to both the specific year and the specific item being audited. Otherwise, the government will use them as a pond of info to fish in.

Oh, and you should never go to such an audit without a tax pro on your side to actually answer the questions for you.

My country gal's just a moonshiner's daughter, but I love her still.

19 March 2011, 08:12

Mike_Dettorre

I just think its really funny that everyone is jumping in with suggestions and answers when not one person has asked a single question about the details.

Such as...

Was this a real property tax appraisal on the land and the building?

Was this tax on the property assets of the business such as machinery?

Was this a tax on the finished goods inventory of the business?

Was this a use tax on all items purchased from out of state which no WA state sales tax was paid on?

Mike

Legistine actu quod scripsi?

Never under estimate the internet community's ability to reply to your post with their personal rant about their tangentially related, single occurrence issue.

What I have learned on AR, since 2001:
1. The proper answer to: Where is the best place in town to get a steak dinner? is…You should go to Mel's Diner and get the fried chicken.
2. Big game animals can tell the difference between .015 of an inch in diameter, 15 grains of bullet weight, and 150 fps.
3. There is a difference in the performance of two identical projectiles launched at the same velocity if they came from different cartridges.
4. While a double rifle is the perfect DGR, every 375HH bolt gun needs to be modified to carry at least 5 down.
5. While a floor plate and detachable box magazine both use a mechanical latch, only the floor plate latch is reliable. Disregard the fact that every modern military rifle uses a detachable box magazine.
6. The Remington 700 is unreliable regardless of the fact it is the basis of the USMC M40 sniper rifle for 40+ years with no changes to the receiver or extractor and is the choice of more military and law enforcement sniper units than any other rifle.
7. PF actions are not suitable for a DGR and it is irrelevant that the M1, M14, M16, & AK47 which were designed for hunting men that can shoot back are all PF actions.
8. 95 deg F in Africa is different than 95 deg F in TX or CA and that is why you must worry about ammunition temperature in Africa (even though most safaris take place in winter) but not in TX or in CA.
9. The size of a ding in a gun's finish doesn't matter, what matters is whether it’s a safe ding or not.
10. 1 in a row is a trend, 2 in a row is statistically significant, and 3 in a row is an irrefutable fact.
11. Never buy a WSM or RCM cartridge for a safari rifle or your go to rifle in the USA because if they lose your ammo you can't find replacement ammo but don't worry 280 Rem, 338-06, 35 Whelen, and all Weatherby cartridges abound in Africa and back country stores.
12. A well hit animal can run 75 yds. in the open and suddenly drop with no initial blood trail, but the one I shot from 200 yds. away that ran 10 yds. and disappeared into a thicket and was not found was lost because the bullet penciled thru. I am 100% certain of this even though I have no physical evidence.
13. A 300 Win Mag is a 500 yard elk cartridge but a 308 Win is not a 300 yard elk cartridge even though the same bullet is travelling at the same velocity at those respective distances.