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"People" didn't let it happen. Corporations did it, along with their allies in government.
The story is long and complex, and has been treated in many books.
But in a nutshell, following a long post-WWII boom, corporate profits began to falter. This was back in the 1970s. In response, corporations launched an all-out offensive against labor and the welfare state. Their most important weapon was ideology. They sold millions and millions of people on the idea that labor was bad, regulation was bad, government was bad. Only business was good, and everything ought to be run like a business. The victory of that ideology is why we are rapidly becoming a third world country.
Such is the thinking of the tin-foil hat crowd.
Obama, the biggest force of economic destruction the U.S. has faced, is the one aiming the bow towards wreck and ruin.
You can work most living expenses in there except food.
That is why I use my pets in my advertising.
And never travel without looking at equipment.
Ok, this is where we depart. People, my family, my employees depend on me to make the right choices. I am a firm believer in being ready for anything including hard times. I'm sure my employees appreciated keeping their job while everyone else was losing theirs. And I appreciate good employees so I prefer to keep them during hard times. It works both ways.
I do travel around shows that pertain to my business. As for spending money for equipment, I won't buy what I don't need. I've heard of people doing that at the end of the year but if you don't need it, to do that for a tax deduction is silly.
If this is your idea of taxed on what you keep I understand your point but we differ here, we should not be encouraged to spend every dime we bring in. That kind of thinking is how businesses and people get into financial trouble. Government taxing people on what they keep (as you put it) is not good. Instead, it should be balanced, including encouraging people and business to keep some.
And I know the IRS won't accept my cat, but I get your point. I could only wish I turn more personal into business.
Ok, this is where we depart. I have a lot of people, my family, my employees dependent on me to make the right choices so I am careful. I am a firm believer in being ready for anything including hard times. I'm sure my employees appreciated keeping their job while everyone else was losing theirs.
I do travel around shows that pertain to my business. As for spending money for equipment, I won't buy what I don't need. I've heard of people doing that at the end of the year but if you don't need it to do that is silly.
If this is your idea of taxed on what you keep I understand your point but we differ here, we should not be encouraged to spend it all. That's how businesses and people get into trouble.
And I know the IRS won't accept my cat, but I get your point.
The lady that did my audit with my dogs in the ad LOVED it.
That was my labs.....they are gone now...
We have four Treeing Walker Coonhounds....bear hunting dog.
I am working on a new ad.
I know if I put a drag with bear sent the hounds will look up the derrick of the rig.
My new ad will have a picture of the hounds and a caption something like...."Don't be HOUNED by the rest......call the best".
Or, "Don't be caught barking up the wrong tree....call E & E".....I am just thinking at this point.
So what kind of investment allows you write-offs dollar for dollar?
There is a small business allowance - Section # I forget but it's well-known - a dollar amount of depreciation you can immediately take each year (instead of using MACRS to depreciate it over its scheduled useful life). That's probably why people buy equipment at the end of the year even if they do not immediately need it (in addition to EOY discounts extended by dealers).
There is a small business allowance - Section # I forget but it's well-known - a dollar amount of depreciation you can immediately take each year (instead of using MACRS to depreciate it over its scheduled useful life). That's probably why people buy equipment at the end of the year even if they do not immediately need it (in addition to EOY discounts extended by dealers).
There is no big advantage to buying at the end of the year.....but, at the end you know how much you need it spend to get your taxable income down.
Edited to ad.....if a business is showing a profit....they file quarterly.....it is a projection of profit.
Ok Driller, I understand how you were able to legally write off your animals but lets use your dog for example. Exactly what expenses were incurred that you were able to write off? Food, vet,..
There is a small business allowance - Section # I forget but it's well-known - a dollar amount of depreciation you can immediately take each year (instead of using MACRS to depreciate it over its scheduled useful life). That's probably why people buy equipment at the end of the year even if they do not immediately need it (in addition to EOY discounts extended by dealers).
If I know at the end of the year that I will be needing equipment within a short amount of time but since I as a business person know generally where I stand on taxes I may consider buying that equipment early to take the deduction in the current year.
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