My Account
Sign up, and CougarBoard will remember which categories you want to view.
Sign up
Report problem with this ad
Start a related thread
Start a related poll
Reply via Boardmail
Jan 11, 2018
9:50
:12
am
cheezedawg
All-American
That doesn't mean they wouldn't get screwed in an audit.
Start a related thread
Start a related poll
Reply via Boardmail
Report problem with this ad
cheezedawg
Bio page
cheezedawg
Joined
Oct 4, 2007
Last login
May 14, 2024
Total posts
66,495 (16,782 FO)
Report problem with this ad
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
Report problem with this ad
Posting on CougarBoard
In order to post, you will need to either
sign up
or
log in
.
Report problem with this ad
