motonoggin Posted May 4, 2018 Share Posted May 4, 2018 1 minute ago, Rigid1 said: The more money I spend on gas the more I have to write off, fuck..is it hard to understand Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 4, 2018 Author Share Posted May 4, 2018 3 minutes ago, Rigid1 said: The more money I spend on gas the more I have to write off, fuck..is it hard to understand So if you spend an extra $5000 this year you get that back? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 Just now, Snoslinger said: So if you spend an extra $5000 this year you get that back? Definitely, fuck you guys have no clue how to run business Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 And then some, for years Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 (edited) 3 minutes ago, Snoslinger said: So if you spend an extra $5000 this year you get that back? You can’t assume anything when conversing with a Dumper.....they often do not comprehend simple logic.....but at least time it’s fun to fuck with the stupid Edited May 4, 2018 by SnowRider Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 2 minutes ago, SnowRider said: You can’t assume anything when conversing with a Dumper.....they often do not comprehend simple logic.....but at least time it’s fun to fuck with the stupid Can you change a fuse in a snowmobile? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 4, 2018 Author Share Posted May 4, 2018 4 minutes ago, Rigid1 said: Definitely, fuck you guys have no clue how to run business Omg Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 Just now, Snoslinger said: Omg Lol,..Obviously you have always worked for someone else.. How long have you lived in ny? Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted May 4, 2018 Share Posted May 4, 2018 10 minutes ago, Rigid1 said: The more money I spend on gas, the more I have to write off, fuck..is it hard to understand How do you own a business and not understand this most simple of concepts. Your expenses are lowering your taxable income. Let’s say you make $100k. Your expenses go from $10k to $15k. You are being taxed at let’s say 20% to make it easy. $100k-$10k=$90k. $90k x 20%= $18k in taxes. $100k-15k=$85k. $85k x 20%= $17k in taxes. So you are spending $4000 more in expenses to save $1000 in taxes. Not to mention the cost of capital over the course of the year... http://smallbusiness.chron.com/tax-writeoff-mean-57830.html Educate yourself. 4 minutes ago, Snoslinger said: Omg I’m rolling right now. He’s so confident about this... 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 Just now, xtralettucetomatoe580 said: How do you own a business and not understand this most simple of concepts. Your expenses are lowering your taxable income. Let’s say you make $100k. Your expenses go from $10k to $15k. You are being taxed at let’s say 20% to make it easy. $100k-$10k=$90k. $90k x 20%= $18k in taxes. $100k-15k=$85k. $85k x 20%= $17k in taxes. So you are spending $4000 more in expenses to save $1000 in taxes. Not to mention the cost of capital over the course of the year... http://smallbusiness.chron.com/tax-writeoff-mean-57830.html Educate yourself. I’m rolling right now. He’s so confident about this... Nope, I'm the one rolling, it's frigging hilarious, hence me sitting here hanging around Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted May 4, 2018 Share Posted May 4, 2018 1 minute ago, Rigid1 said: Nope, I'm the one rolling, it's frigging hilarious, hence me sitting here hanging around Is this some sort of deflection? I’m confused... Was my example and link hard to comprehend? You understand write offs are not one for one in terms of your tax liability? Do you get cost of capital and why spending $5 to get $5 back a year later is beyond ignorant? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 7 minutes ago, xtralettucetomatoe580 said: How do you own a business and not understand this most simple of concepts. Your expenses are lowering your taxable income. Let’s say you make $100k. Your expenses go from $10k to $15k. You are being taxed at let’s say 20% to make it easy. $100k-$10k=$90k. $90k x 20%= $18k in taxes. $100k-15k=$85k. $85k x 20%= $17k in taxes. So you are spending $4000 more in expenses to save $1000 in taxes. Not to mention the cost of capital over the course of the year... http://smallbusiness.chron.com/tax-writeoff-mean-57830.html Educate yourself. I’m rolling right now. He’s so confident about this... 3 minutes ago, Rigid1 said: Nope, I'm the one rolling, it's frigging hilarious, hence me sitting here hanging around The mentality of a Dumper.....JT Rigid Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted May 4, 2018 Share Posted May 4, 2018 7 minutes ago, xtralettucetomatoe580 said: How do you own a business and not understand this most simple of concepts. Your expenses are lowering your taxable income. Let’s say you make $100k. Your expenses go from $10k to $15k. You are being taxed at let’s say 20% to make it easy. $100k-$10k=$90k. $90k x 20%= $18k in taxes. $100k-15k=$85k. $85k x 20%= $17k in taxes. So you are spending $4000 more in expenses to save $1000 in taxes. Not to mention the cost of capital over the course of the year... http://smallbusiness.chron.com/tax-writeoff-mean-57830.html Educate yourself. I’m rolling right now. He’s so confident about this... The really fucked up part is Slinger is on the right side of this one Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 1 minute ago, xtralettucetomatoe580 said: Is this some sort of deflection? I’m confused... Was my example and link hard to comprehend? You understand write offs are not one for one in terms of your tax liability? Do you get cost of capital and why spending $5 to get $5 back a year later is beyond ignorant? Your math is extremely flawed, no offense, you're a good dude, Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 Just now, Rigid1 said: Your math is extremely flawed, no offense, you're a good dude, Do the math for the class. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 Honestly, this is fucking hilarious, I just can't fathom the lack of thought Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 4, 2018 Share Posted May 4, 2018 Just now, SnowRider said: Do the math for the class. You being involved in any form in this argument is not of benefit to XLT. Go make dinner. Putz. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 1 minute ago, SnowRider said: Do the math for the class. Nope Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted May 4, 2018 Share Posted May 4, 2018 33 minutes ago, Rigid1 said: The more money I spend on gas, the more I have to write off, fuck..is it hard to understand yes you can write it off, it reduces your income by that amount say 5000 of which you get the amount of tax you would have paid on that 5000 back which is probably in the ballpark of $1500 but for shits and giggles lets call it 2k less you pay in taxes therefore the actual cost to you was 3k. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted May 4, 2018 Share Posted May 4, 2018 7 minutes ago, Rigid1 said: Your math is extremely flawed, no offense, you're a good dude, SMH Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 4, 2018 Author Share Posted May 4, 2018 8 minutes ago, Sal Rosenberg said: The really fucked up part is Slinger is on the right side of this one As is usually the case.... Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 4, 2018 Author Share Posted May 4, 2018 Now he’s going to play like he knows all this.... Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted May 4, 2018 Share Posted May 4, 2018 Just now, Rigid1 said: Your math is extremely flawed, no offense, you're a good dude, Bahahahaha what?! Stop. Yr 1 (revenue-expenses): 100000-10000=90000 Income times tax rate: 90000x.2=18000 Yr 2 (revenue-expenses): 100000-15000=85000 Income times tax rate: 85000x.2=17000 Yr 2 tax rate - Yr 1 tax rate: 18000-17000=1000 Yr 2 expenses - Yr 1 expenses: 15000-10000=5000 5000 increase in expenses 1000 decrease in taxes = 4000 $4000 is your loss. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted May 4, 2018 Share Posted May 4, 2018 1 minute ago, Snoslinger said: As is usually the case.... SMH Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted May 4, 2018 Platinum Contributing Member Share Posted May 4, 2018 As all of you drive around this week, back and forth to work, to the store, in @SnowRiders case to pilates class, count the landscape rigs that drive by you non stop, big ass trucks 80k, killer trailers 8k, 50-60k in equipment on them..there is a reason... Quote Link to comment Share on other sites More sharing options...
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