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Don't blame American seniors for the government's inability to control fraud and waste which is what is driving up costs.
The young have not yet earned the right to bully American senior citizens so until then, please get a job. The Amish are hard workers so that be a new idea.
Eh, that door is closed to me. IIRC after about five years the no profit model businesses run the risk of being classified as a "hobby" by the IRS and they come after you for back deductions, be careful.
Eh, that door is closed to me. IIRC after about five years the no profit model businesses run the risk of being classified as a "hobby" by the IRS and they come after you for back deductions, be careful.
It will not be a problem.
I spend a lot on equipment.....the IRS loves that.....I have been though two audits.
What they are looking for is a "intent" to make a profit.
My depreciation is what saves me....plus we only drill about seven months a year.
I staed at a bed and breakfast a couple months ago in Amish country! The couple told me that they are exempt from SS Tax on religious grounds! None of the Amish pay it! I've already paid over 90K into the SS system in my lifetime, but am willing to receive no SS if I can bail out now. That 90K will be a gift to Uncle Sam from me. I want nothing in return, just dont want to pay into a system anymore that I am unsure of its future. Are religious grounds the only way to forfeit ones SS rights?
I don't know what the IRS would do.
I do know that I'm for ANYTHING that deprives the government of money.
Lie on a return and you will be charged with a felony.
I agree, but there are somethings you can do within the system that helps but to lie will do nothing but make your life a Hell.
Please. I am not advocating dishonesty.
But if we could exempt ourselves from taxes based on conscience, I'm all for it.
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