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Old 08-01-2008, 08:11 PM
 
Location: DFW - Coppell / Las Colinas
30,010 posts, read 34,648,657 times
Reputation: 36035

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Being in real estate which in the last few years has become more dangerous, I have my concealed handgun permit, purchase ammo, hit the shooting range and take a business expense on all the above. I believe I can justify it due to some of the people I meet & places I go taking care of foreclosures.
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Old 08-01-2008, 08:52 PM
 
24,843 posts, read 31,318,588 times
Reputation: 11428
Quote:
Originally Posted by Rakin View Post
Being in real estate which in the last few years has become more dangerous, I have my concealed handgun permit, purchase ammo, hit the shooting range and take a business expense on all the above. I believe I can justify it due to some of the people I meet & places I go taking care of foreclosures.
Why not??? I use my dogs in my advertising. Yep, write them off.
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Old 08-01-2008, 10:36 PM
 
2,153 posts, read 4,903,979 times
Reputation: 643
Quote:
Originally Posted by goodbyehollywood View Post
That's great that you prevailed, Driller1!

However, I don't want to win, because I don't want to play. I don't want the huge hassle and expense of being audited over small deductions that will save me $100. My time is worth a lot more than that.
This is great. This is literally the EXACT conversation I had with my mom today on the phone. I 100% agree with you and I think the exact same way.
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Old 08-02-2008, 12:00 AM
 
Location: Forests of Maine
29,757 posts, read 47,604,011 times
Reputation: 17641
Quote:
Originally Posted by goodbyehollywood View Post
... My CPA does exactly what I pay him to do-- reduce my tax burden without getting me audited.
We have been audited three times.

For us it has been positive experiences, twice they increased our 'refund', the third time it remained the same.

Not bad since nothing gets with-held from our pay in the first place
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Old 08-02-2008, 08:40 AM
 
24,843 posts, read 31,318,588 times
Reputation: 11428
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Originally Posted by bls5555 View Post
This is great. This is literally the EXACT conversation I had with my mom today on the phone. I 100% agree with you and I think the exact same way.
The IRS depends on you good folks!!
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Old 08-02-2008, 08:45 AM
 
24,843 posts, read 31,318,588 times
Reputation: 11428
Quote:
Originally Posted by forest beekeeper View Post
We have been audited three times.

For us it has been positive experiences, twice they increased our 'refund', the third time it remained the same.

Not bad since nothing gets with-held from our pay in the first place
My audit was six hours. We went thought two years, item by item. In the end there was no change. I think I was audited because I filed a 1040X. I had to because of the state.
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Old 08-02-2008, 09:30 AM
 
Location: Forests of Maine
29,757 posts, read 47,604,011 times
Reputation: 17641
Quote:
Originally Posted by Driller1 View Post
The IRS depends on you good folks!!
Not really.

While the numbers change a bit each year, when looking at the Federal Revenue stats the portion that comes from individual income taxation runs from 25% to 32% each year.

The Federal government really does not depend on individual income taxation for it's revenue.

And keep in mind that individual income tax filing began just over 60 years ago.
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Old 08-02-2008, 10:36 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 20,635,955 times
Reputation: 3587
It is all murky now because many providers no longer have different classes of service like the old phone co used to have. It used to be that you had to have a business class service to get the deduction because the phone company had a residential tier and a busines tier. But now with cell phones and VOIP, they do not have differing tiers anymore.
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Old 08-02-2008, 10:38 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 20,635,955 times
Reputation: 3587
Quote:
Originally Posted by Rakin View Post
Being in real estate which in the last few years has become more dangerous, I have my concealed handgun permit, purchase ammo, hit the shooting range and take a business expense on all the above. I believe I can justify it due to some of the people I meet & places I go taking care of foreclosures.
And remember your gun should be just that- concealed. Many customers would be turned off if you met them with a gun showing. It would not bother me but some it would.
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Old 08-02-2008, 12:58 PM
 
24,843 posts, read 31,318,588 times
Reputation: 11428
Quote:
Originally Posted by forest beekeeper View Post
Not really.

While the numbers change a bit each year, when looking at the Federal Revenue stats the portion that comes from individual income taxation runs from 25% to 32% each year.

The Federal government really does not depend on individual income taxation for it's revenue.

And keep in mind that individual income tax filing began just over 60 years ago.
OK, ya got me on that one.
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