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Re: "But it's a tax writeoff ..."
[Re: Uncle Zeek]
#12891510
09/08/18 01:05 PM
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Joined: Mar 2015
Posts: 5,432
TCK73
TFF Celebrity
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TFF Celebrity
Joined: Mar 2015
Posts: 5,432 |
I think a lot of people say that when they make an affluent purchase to try to justify it to themselves, and at the same time they think it makes them sound really wealthy to others. I have people suggest I buy an item, for an example, a new bad azz side by side UTV made for racing, and when I tell them I have no use for it they replied "well write it off, that's what I did". Totally clueless.
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Re: "But it's a tax writeoff ..."
[Re: patriot07]
#12891524
09/08/18 01:28 PM
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Joined: May 2002
Posts: 97,449
Bob Davis
Bunkeroid Bob
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Bunkeroid Bob
Joined: May 2002
Posts: 97,449 |
Fact is that there are lots of people out there who aren't very intelligent. Yes, and they have never filed their own tax forms.
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Re: "But it's a tax writeoff ..."
[Re: Uncle Zeek]
#12891538
09/08/18 01:49 PM
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Joined: Jun 2002
Posts: 4,556
Jman
TFF Team Angler
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TFF Team Angler
Joined: Jun 2002
Posts: 4,556 |
You guys are beating me down. I feel the need to sell the bosses shiny new 2018 Ram now.
Jim Featherston Mortgage Loan Officer - NMLS 2509901 Red Diamond Home Loans PH 972-890-3114 Apply at: RDHLoans.com/Jim Licensed to Serve Clients in Texas and Florida
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Re: "But it's a tax writeoff ..."
[Re: mpowell]
#12891639
09/08/18 03:26 PM
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Joined: Jan 2014
Posts: 1,902
fmrmbmlm
Extreme Angler
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Extreme Angler
Joined: Jan 2014
Posts: 1,902 |
My dad, who had a self-admitted limited education, used to say, "I've never understood why someone would spend a dollar to save 20 cents."
I believe most females use that reasoning to spend money they don't have.
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Re: "But it's a tax writeoff ..."
[Re: Uncle Zeek]
#12891640
09/08/18 03:27 PM
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Joined: Aug 2006
Posts: 19,919
COFF
TFF Guru
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TFF Guru
Joined: Aug 2006
Posts: 19,919 |
If you hear your lawyer, CPA or tax advisor recommend you to make purchase for the tax benefit, you should fire them immediately.
There is one time and one time only that a person should consider a purchase solely for the tax benefit. That is if you have idle cash in the bank and use it to purchase land.
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Re: "But it's a tax writeoff ..."
[Re: Uncle Zeek]
#12891661
09/08/18 03:50 PM
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Joined: May 2009
Posts: 9,146
VIP Fishing
TFF Celebrity
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TFF Celebrity
Joined: May 2009
Posts: 9,146 |
Couldnt agree more Zeek. As a business owner I hear it all the time. Idiot, I dont want to spend $10K just to get a tax write off. Its still spending $10K.
I do enjoy a good Squirt now and then.
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Re: "But it's a tax writeoff ..."
[Re: Uncle Zeek]
#12891751
09/08/18 05:25 PM
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Joined: Feb 2008
Posts: 3,178
Leonardo1
TFF Team Angler
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TFF Team Angler
Joined: Feb 2008
Posts: 3,178 |
It's the man's version of shopping and buying because it's on sale. My FIL 's motto "you wont go broke paying taxes, unless you dont pay them."
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Re: "But it's a tax writeoff ..."
[Re: joebass2]
#12891754
09/08/18 05:27 PM
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Joined: Feb 2018
Posts: 17,160
Sawhorse
TFF Guru
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TFF Guru
Joined: Feb 2018
Posts: 17,160 |
I believe some people actually think a write off is a tax credit, ie, spend $100, get $100 off your income tax. Are you saying it isnt?
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Re: "But it's a tax writeoff ..."
[Re: Bob Davis]
#12891757
09/08/18 05:30 PM
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Joined: Feb 2018
Posts: 17,160
Sawhorse
TFF Guru
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TFF Guru
Joined: Feb 2018
Posts: 17,160 |
Fact is that there are lots of people out there who aren't very intelligent. Yes, and they have never filed their own tax forms. I am proof this theory is flawed. I have always filed my own tax forms,
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Re: "But it's a tax writeoff ..."
[Re: VIP Fishing]
#12891768
09/08/18 05:42 PM
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Joined: Sep 2005
Posts: 28,119
Uncle Zeek
OP
aka "Mom"
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OP
aka "Mom"
Joined: Sep 2005
Posts: 28,119 |
I dont want to spend $10K just to get a tax write off. Its still spending $10K. Yep. #1 Is the $10K a necessary business expense? #2 Will spending the $10K help me earn MORE than the $10K I just spent? #3 How can I structure the spending to get the maximum tax benefit? I'm all for borrowing money at a competitive rate for business property, real estate, etc, if doing so will generate a better after-tax return on investment.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate planning & tax attorney AND 07/02 FFL 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 mobile zac@artimlegal.com
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Re: "But it's a tax writeoff ..."
[Re: fmrmbmlm]
#12891823
09/08/18 06:45 PM
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Joined: Mar 2011
Posts: 3,736
txshotgun
TFF Team Angler
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TFF Team Angler
Joined: Mar 2011
Posts: 3,736 |
My dad, who had a self-admitted limited education, used to say, "I've never understood why someone would spend a dollar to save 20 cents."
I believe most females use that reasoning to spend money they don't have. Or some dude spending over $75K on a bass boat...
Recycle! Become an organ donor!
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