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If the fuel somehow ends up in your personal truck or the family boat then no. If you are truly honest about your expenses, then kudos to you. I hope you are very successful. All I tried to say is that cash enables some people to skirt the system which places more burden on those of us who can't or won't cheat. I also know many businesses pay for travel, property, vehicles etc which are used almost entirely for personal use and then used as a deduction to avoid legitimate taxes. I'm not anti small business or for big government. Our government takes too much from the doers and spends too much overall. But you gotta admit there is some unfairness in the system. Hell, I love Trump. I think I know why they want his taxes, and he doesn't want them to see them. I'd bet he paid very little or no taxes. He might even have gotten money back. But I do not blame him one bit. If my hunch is correct, it's the system in place that allowed it.
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Campfire 'Bwana
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Campfire 'Bwana
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Also, let's do away with any business deductions and expenses.
The hundreds of thousands of dollars in fuel, construction materials I pay shouldn't be deducted but the money collected to pay for it should be taxed??? Pat, Under proposed Scott's system, how long before you are out of business?
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
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Campfire Ranger
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Campfire Ranger
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I pray for the day there is no more cash. Costs too much to print and protect from counterfeiting. Also all the tax cheats who shove unreported cash in there pockets and don't pay their fair share of taxes. Bring it on!! Also, let's do away with any business deductions and expenses. Tax every business a percentage on total gross sales. Very little accounting. Figure your tax burden when figuring out your sale price of goods or services. Would do away with receipts, decisions on what's an admissable deduction etc. No depreciation crap. Easy and open and fair. Would stop the Amazon's, Apples,etc from paying little to no tax. There are so many holes in this that it must have come out of a Swiss cheese package.
Hunt with Class and Classics
Religion: A founder of The Church of Spray and Pray
Acquit v. t. To render a judgment in a murder case in San Francisco... EQUAL, adj. As bad as something else. Ambrose Bierce “The Devil's Dictionary”
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Now come on guys. When you figure a job, you expense each item. Adding 3 percent for your tax burden wouldn't be that hard to figure in. When you get a final bid expense figured, don't you add a percentage for profit. Imagine if every competitor played by the same rules.
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2011
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Now come on guys. When you figure a job, you expense each item. Adding 3 percent for your tax burden wouldn't be that hard to figure in. When you get a final bid expense figured, don't you add a percentage for profit. Imagine if every competitor played by the same rules. But every competitor wouldn't play by the same rules. The big players would vertically integrate, avoiding all the intermediary taxes, putting all the little guys out of business. Your plan would result in more mega corporations, not fewer.
Last edited by antelope_sniper; 11/16/19.
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
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Campfire Tracker
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There are lots of places now that do not accept cash - mostly to prevent employee theft. I think we'll see more and more of it.
Worse, I see a day when the only way you'll be able to pay will be with your smart phone. Or to identify yourself, for that matter. To my mind that's scary. And not just because it'll force me to get one of the damn things. I guess we are just going to learn to live off of the grid.!! Cheers NC
don't judge until you have walked a mile in other persons' moccasins' SUM QUOD SUM........HOMINEM TE ESSE MEMENTO
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It's obvious I struck a nerve and many of you must own your own business. Congratulations for your hard work and doing something I have never done. But, will any one of you tell me that you've never used a company vehicle for personal reasons? Pick the kids up after school. Stop for milk. Used a company facility to store personal items, take the company truck or car on vacation? Used a company cell phone for personal calls, if you haven't, then I applaud your honesty.
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Kinda like the companies who hire illegal workers for cash off the books? No taxes for or from them? No FICA. Cheating the system......
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Campfire 'Bwana
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Campfire 'Bwana
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It's obvious I struck a nerve and many of you must own your own business. Congratulations for your hard work and doing something I have never done. But, will any one of you tell me that you've never used a company vehicle for personal reasons? Pick the kids up after school. Stop for milk. Used a company facility to store personal items, take the company truck or car on vacation? Used a company cell phone for personal calls, if you haven't, then I applaud your honesty. You want to collapse our economy because too many people stop for milk in a company car? Are you trying to create a more equal system where everyone's equally covered in [s]hit?
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
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Campfire Tracker
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So providing tax loopholes and bogus deductions keeps us free? I understand all taxes are paid by the end user. I wish there were no taxes!! I just know that the system is flawed when a working person pays taxes and businesses and corporations pay near nothing at all.
That's not what I said at all. I made no comments on "loopholes" nor invalid deductions. I just asserted that your proposed solution make make things worse, much worse. Additionally, you acquaintance selling King Camo needs to talk to a real accountant. In order to write off a business as a business expense, it's "primary purpose" must be business. Even if Camo guy had sold a few pieces, business was not him primary purpose, so it's not a valid expense. We can also imagine the other end of this spectrum where he packs a U haul full of stuff to sell it at a gun show in the next state. even if doesn't sell a single item, he can still write off his travel expense because is primary purpose was selling stuff. As for the tax burden's that cause you to throw parts away, I have to wonder from where you sourced them? As I mentioned before Mexico, along with virtually all of Latin America has VAT taxes. Another effect of there taxes is NO ONE WILL GIVE YOU A REFUND. The reason being, the seller has already paid taxes on the sale, and if you they take the parts back, it's about impossible for them to get their taxes back from the government. Consequently commercial differences are typically settled with credits and seldom with an exchange of funds. It's likely you had to throw those parts away not because of intricacies of the U.S. tax code, but due to the consequences of a system like the one for which you are advocating. Or maybe p*ss poor planning to start with. Just saying .Cheers NC
Last edited by northcountry; 11/16/19.
don't judge until you have walked a mile in other persons' moccasins' SUM QUOD SUM........HOMINEM TE ESSE MEMENTO
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Campfire 'Bwana
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Campfire 'Bwana
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Kinda like the companies who hire illegal workers for cash off the books? No taxes for or from them? No FICA. Cheating the system......
We already have laws against that.
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
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Campfire Ranger
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Campfire Ranger
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Not a commie. Just outdated. You damn sure sound like one.
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Kinda like the companies who hire illegal workers for cash off the books? No taxes for or from them? No FICA. Cheating the system......
There is an all around better root cause fix for that than eliminating cash.
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I pray for the day there is no more cash. Costs too much to print and protect from counterfeiting. Also all the tax cheats who shove unreported cash in there pockets and don't pay their fair share of taxes. Bring it on!! Also, let's do away with any business deductions and expenses. Tax every business a percentage on total gross sales. Very little accounting. Figure your tax burden when figuring out your sale price of goods or services. Would do away with receipts, decisions on what's an admissable deduction etc. No depreciation crap. Easy and open and fair. Would stop the Amazon's, Apples,etc from paying little to no tax. Obviously you've never done business in countries with a VAT or similar taxes, nor considered the full implications of your scheme. I can just imagine all the drooling entities waiting to tax the proceeds of your garage sale or when you post an ad on craigslist to sell the old washing machine. Gotta pay your fair share. Also, .gov and big bother need to know your every single purchase habit, location and items complete with timestamp too.
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This thread could get very long. My only thought for the moment is the envy I detect in the post. It sounds like half the guys I run into every day that beseech me for owning my own business. I have to run though to finish before dark, for I work seven days a week and double the hrs sometimes to make my business run , unlike those guys that rib me — they are all off playing today.....
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Campfire Regular
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I pray for the day there is no more cash. Costs too much to print and protect from counterfeiting. Also all the tax cheats who shove unreported cash in there pockets and don't pay their fair share of taxes. Bring it on!! Also, let's do away with any business deductions and expenses. Tax every business a percentage on total gross sales. Very little accounting. Figure your tax burden when figuring out your sale price of goods or services. Would do away with receipts, decisions on what's an admissable deduction etc. No depreciation crap. Easy and open and fair. Would stop the Amazon's, Apples,etc from paying little to no tax. I've never had cash hacked by a scimmer yet. Been hacked close to $10,000 with plastic during my lifetime. Got it back every time, but a royal pain in the as$ every time.
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I have run into places that don’t take plastic either. They say we got an atm though.
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No envy GBob, sorry you have to work so much to make ends meet. Hope things improve for you. I just feel having cash money around any longer is unnecessary and brings tax fraud, illegal activities such as drugs, and other issues into play. The business deductions and tax liability was just another thought and I shouldn't have mixed the two.
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Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2007
Posts: 11,190 |
Also, let's do away with any business deductions and expenses.
The hundreds of thousands of dollars in fuel, construction materials I pay shouldn't be deducted but the money collected to pay for it should be taxed??? Pat, Under proposed Scott's system, how long before you are out of business? The first year. Wont get very far on a 5-7% profit margin.
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Campfire Outfitter
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It's obvious I struck a nerve and many of you must own your own business. You didn't strike a nerve, run in to people like you quite a bit who never had to make payroll every week, having how much money self employed people make all figured out. LOL!!!
Last edited by Pat85; 11/16/19.
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