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Re: The tax man is here
[Re: brushwhacker]
#3654316
04/17/22 09:35 PM
04/17/22 09:35 PM
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Joined: Apr 2013
Posts: 4,697 Alabama
Rmart30
10 point
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10 point
Joined: Apr 2013
Posts: 4,697
Alabama
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Irs tax code section 179 was changed in 2018. I think it allows any equipment you bought for business can all be claimed 100% for depreciation the first year u buy it instead spread our over years. Some types of property applied to that also. I not a tax expert at all but i have friends that run million dollar buisness an pay little taxes . Almost everything they spend is deductible. U can start a side hustle an claim loss for 3 years but 4th year have show a profit or the irs can consider it a hobby. I did that with my wifes 20k embroidery machines . Closed it the 4th year. Like donald trump said i would use every tax break under the law. Screw them. Pisses me off to no end work an pay all them taxes an neighbor sits at home with house full of kids an no job an live better than me. Free food, free phone, free obamacare . Seems like im penalized for working. The thousands i pay in taxes help keep these deadbeats up. Same for me. My tax guy does nothing wrong but hes going to take advantage of any and all allowed write offs and practices.
Ethical behavior is doing the right thing when no one else is watching - even when doing the wrong thing is legal. Aldo Leopold .. (except when it comes to trailer tags)
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