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Jan 10, 2018
3:59
:40
pm
Mathew
All-American
Good for them. Stick it to the feds.
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Mathew
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Mathew
Joined
Jul 30, 2009
Last login
May 15, 2024
Total posts
31,778 (2,278 FO)
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Messages
Author
Time
My neighbor has a business that own a boat, trucks, snowmobiles, 4 wheelers, etc
mudpupper
1/10/18 3:53pm
I have a friend that does this too. Wrote off a Razor
P-townCoug
1/10/18 3:56pm
Or God.
Baron
1/10/18 3:58pm
He won’t get caught
Jericho
1/10/18 3:59pm
He probably has a really good accountant.
Romex
1/10/18 4:12pm
Main reason I have for a consumption tax instead of an income tax
LaserCoug
1/10/18 4:19pm
Income tax is a huge invasion of privacy IMO
Jericho
1/10/18 4:28pm
and the least regressive of all taxes
Nat Gas Man
1/10/18 4:40pm
There are ways to deal with the regressive nature of a consumption tax
LaserCoug
1/10/18 4:46pm
Good for them. Stick it to the feds.
Mathew
1/10/18 3:59pm
When I was young, just starting out I was a loan officer at a local credit union
Tokolosh
1/10/18 4:00pm
Know a guy who did that. The business went belly up and he lost everything
darkcoug
1/10/18 4:13pm
Had fun while doing it though I bet. I have seen that scenario with other people (non business owners) as well.
Romex
1/10/18 4:14pm
"Advertising expense"
ByuMba90
1/10/18 4:15pm
That would be equal to the cost of the stickers you put on them
cheezedawg
1/10/18 4:30pm
Not if their collecting dust
Q-grr
1/10/18 4:37pm
Are you sure he writes it off?
RexIdaCoug
1/10/18 4:23pm
He claims that he does publicly
mudpupper
1/10/18 6:19pm
Lots of people claim this kind of stuff
RexIdaCoug
1/10/18 8:14pm
All he has to do is take an employee or customer on them once...
VirginiaYewt
1/10/18 5:21pm
Taking an employee or a client out would not make those tax deductible
RexIdaCoug
1/10/18 8:16pm
you need to show they are used for a business purpose. Just like cars that are used for business purposes. I know
ChinaFan
1/10/18 8:58pm
I didn't say it can't be done
RexIdaCoug
1/10/18 9:31pm
100% agree, but I'd guess the OP's description is similar. Most people who take this track understand that they have to
ChinaFan
1/10/18 10:01pm
Excuse me - Should have said once annually
VirginiaYewt
1/11/18 9:10am
Lol. You still don't get it.
RexIdaCoug
1/11/18 9:20am
Yup
VirginiaYewt
1/11/18 9:38am
That doesn't mean they wouldn't get screwed in an audit.
cheezedawg
1/11/18 9:50am
nope, each can be claimed for use as 'business entertainment', the IRS might give him crap about the cost versus his
ChinaFan
1/10/18 8:50pm
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