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08-01-2008, 08:11 PM
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Location: DFW - Coppell / Las Colinas
36,657 posts, read 40,652,266 times
Reputation: 44087
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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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08-01-2008, 08:52 PM
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24,839 posts, read 34,133,570 times
Reputation: 11509
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Quote:
Originally Posted by Rakin
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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Why not??? I use my dogs in my advertising. Yep, write them off.
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08-01-2008, 10:36 PM
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2,153 posts, read 5,158,872 times
Reputation: 651
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Quote:
Originally Posted by goodbyehollywood
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.
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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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08-02-2008, 12:00 AM
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Location: Forests of Maine
32,406 posts, read 52,698,842 times
Reputation: 22157
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Quote:
Originally Posted by goodbyehollywood
... 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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08-02-2008, 08:40 AM
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24,839 posts, read 34,133,570 times
Reputation: 11509
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Quote:
Originally Posted by bls5555
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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The IRS depends on you good folks!! |
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08-02-2008, 08:45 AM
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24,839 posts, read 34,133,570 times
Reputation: 11509
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Quote:
Originally Posted by forest beekeeper
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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08-02-2008, 09:30 AM
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Location: Forests of Maine
32,406 posts, read 52,698,842 times
Reputation: 22157
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Quote:
Originally Posted by Driller1
The IRS depends on you good folks!!
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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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08-02-2008, 10:36 AM
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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,378,500 times
Reputation: 3587
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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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08-02-2008, 10:38 AM
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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,378,500 times
Reputation: 3587
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Quote:
Originally Posted by Rakin
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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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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08-02-2008, 12:58 PM
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24,839 posts, read 34,133,570 times
Reputation: 11509
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Quote:
Originally Posted by forest beekeeper
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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OK, ya got me on that one. |
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