Taxes suck !

[Tomatoking]

get a job yet jibekn? haha

[heartbrand]

P.S. paying your employees in cash is a good way to end up owing back payroll and employment taxes to the IRS and getting pad locks placed upon your business. I know everyone thinks "it won't happen to me" but I make my living off people like you who think just that.

[Rettii]

No need to joust with 20 delay weapons

[Rettii]

I'm a federal agent we need to talk.

[Rettii]

But Heartbrand, should I joust if I have 20 delay weapons? Also what's the preferred method of killing casters 55+ if they have crim pots. These are the real issues.

If Anyone needs a professional opinion about taxes, I'd recommend reading the FAQ's on H&R block website.

If you need a professional opinion on which phone is the most ergonomical because you plan to be a phone secretary or need a good thimble to help you organize paperwork and schedule meetings (general secretary work - can reach this level with a heald certificate even if high school dropout)... Well then HB got the answers for you.

[Tomatoking]

im exaggerating all expenses to hilarious levels

i even claim food for the cat that lives at my workshop

problem is i have 6 diff sources of income and if you evade , you get fucked hard.

btw to the guy that has the flooring company , does home depot let you bid on bulk materials ? i heard about that system which they supposedly took out years ago, now they dont even offer discounts other then tax free purchasing.


Apparently people abused the shit out of HDP And lowes

[Infectious]

No they supply the materials(carpet, tile, vinyl sheet goods) I supply the rest of the tools, vehicle, clothing and supplies to install product. Thats why I say fuck all that lawyer shit about this and that. And what the law is. Get yourself an accountant and they will break the law for you. I have been in business since 2002 and audited twice. And nothing happened. Just dont write off shit you dont have statements or reciepts for. Other then that I write off clothes, lunch and everything. Accountants know with an income of say $200k you are allowed 2k for clothes, 1k for lunch and so on. If you claim $20k on clothes you will be audited. If you stay within your guidelines (accountants problem) you will be fine. You think the irs combs thru your reciepts to see if the shirts are white?

[Rettii]

Originally Posted by Infectious [You must be logged in to view images. Log in or Register.]

You think the irs combs thru your reciepts to see if the shirts are white?

like I said - heartbrand is just a secretary that watches judge judy

[heartbrand]

Originally Posted by Infectious [You must be logged in to view images. Log in or Register.]

No they supply the materials(carpet, tile, vinyl sheet goods) I supply the rest of the tools, vehicle, clothing and supplies to install product. Thats why I say fuck all that lawyer shit about this and that. And what the law is. Get yourself an accountant and they will break the law for you. I have been in business since 2002 and audited twice. And nothing happened. Just dont write off shit you dont have statements or reciepts for. Other then that I write off clothes, lunch and everything. Accountants know with an income of say $200k you are allowed 2k for clothes, 1k for lunch and so on. If you claim $20k on clothes you will be audited. If you stay within your guidelines (accountants problem) you will be fine. You think the irs combs thru your reciepts to see if the shirts are white?

This might come as a shock to you but the U.S. Tax System is Voluntary. It is enforced through the audit process pal. How are returns selected for audit? Most of them randomly using a score that looks for certain "red flags." The highest % of audited returns come from Schedule C filers, because the IRS knows these have the highest level of fraudulent information. You're right, the IRS doesn't know if your clothes are proper business expenses or not unless they select your return for audit. You don't need a top accountant to take a bunch of inaccurate expenses on your Schedule C. Just guesstimate and exaggerate a bunch of stuff and voila, you've done it, congrats on your CPA. However, if you are audited, you will be fucked. That's the risk you run, sure, the math is on your side, you probably won't be audited, but if you are you will end up owing penalties / interest / and a lot of back tax, and then likely end up being audited on other years as well. For me, the risk isn't worth it. There's a difference between tax evasion which is illegal and tax avoidance which is legal. Claiming a meal was a business meal by mentioning the name of your business and then continuing on enjoying yourself is likely tax avoidance and legal. Taking expenses for things that aren't deductible such as a suit, or claiming non-existent expenses is tax evasion, and you WILL get caught in the long run. They will ask for all of your credit card statements, bank statements, statements on all of your property, invoices, etc., etc. I make my living off people who think they won't get caught by the IRS, keep playing with fire.

edit: readers digest, the IRS selects returns to audit and THEN combs through your receipts, not the other way around.

[visage]

Originally Posted by heartbrand [You must be logged in to view images. Log in or Register.]

This might come as a shock to you but the U.S. Tax System is Voluntary. It is enforced through the audit process pal. How are returns selected for audit? Most of them randomly using a score that looks for certain "red flags." The highest % of audited returns come from Schedule C filers, because the IRS knows these have the highest level of fraudulent information. You're right, the IRS doesn't know if your clothes are proper business expenses or not unless they select your return for audit. You don't need a top accountant to take a bunch of inaccurate expenses on your Schedule C. Just guesstimate and exaggerate a bunch of stuff and voila, you've done it, congrats on your CPA. However, if you are audited, you will be fucked. That's the risk you run, sure, the math is on your side, you probably won't be audited, but if you are you will end up owing penalties / interest / and a lot of back tax, and then likely end up being audited on other years as well. For me, the risk isn't worth it. There's a difference between tax evasion which is illegal and tax avoidance which is legal. Claiming a meal was a business meal by mentioning the name of your business and then continuing on enjoying yourself is likely tax avoidance and legal. Taking expenses for things that aren't deductible such as a suit, or claiming non-existent expenses is tax evasion, and you WILL get caught in the long run. They will ask for all of your credit card statements, bank statements, statements on all of your property, invoices, etc., etc. I make my living off people who think they won't get caught by the IRS, keep playing with fire.

edit: readers digest, the IRS selects returns to audit and THEN combs through your receipts, not the other way around.

There is always a chance to get fucked in life. He probably has greater odds at getting in a car crash and dying than getting fucked by this slim chance of the IRS. Look up statistics on car crashes. Compare ratio to ratio on what he is doing. Life always has risk. I guess compare penaltys with how many times he has done this with his filing. Per say... he does this for 20 years. Finally gets caught , substatial evidence claims only 3 of the 20 years. Factor in how much he made off of cheating minus the penalties... Well I think you get the picture mate ~!