ChesusRice
Well-Known Member
You can deduct expenses for those endeavors
Gov shut down
- Thread starter smokinafatty
- Start date
1. citation has already been requested on this post i made a few pages back.
2. i already know for a fact it's not and prepH is a man-child who thinks he knows the facts, due to mad pursuit of an online accounting technology degree from DeVry U.
3. pro tip: to young and old alike..go to the attorneys, the attorneys go to..get ex-irs cpa with emphasis on norml..go to the surgeon other doctors go to..next time you meet a professional ask who they go to and why..you'll pay less and results in better outcome
ChesusRice
Well-Known Member
§ 280E. Expenditures in connection with the illegal sale of drugs. No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted.
ink the world
Well-Known Member
if you're being compensated w/ money, yeah you're supposed to..lol
in all seriousness Buck, both my attorney and CPA advised me to declare that income. Remember brother, they got Al Capone on taxes. Not murder, not bootlegging. I fear the IRS more than the DEA. Gov gets their taxes and I don't have to worry about audits or tax charges
Dr Kynes
Well-Known Member
yeah, thats all sorted out, it turns out the source of Harrekin's assertion was a Buckpost(tm) which of course settles the matter right there.1. citation has already been requested on this post i made a few pages back.
2. i already know for a fact it's not and prepH is a man-child who thinks he knows the facts, due to mad pursuit of an online accounting technology degree from DeVry U.
3. pro tip: to young and old alike..go to the attorneys, the attorneys go to..get ex-irs cpa with emphasis on norml..go to the surgeon other doctors go to..next time you meet a professional ask who they go to and why..you'll pay less and results in better outcome
weed sales are taxable.
pSi007
Active Member
dude.. I love reading some of the shit you write, you arsehole.. lolol... It takes a number of readings before your foundation is secure in my mind. Hey, am I noob here? ..I am.
Whatever, dude.. If you can't teach the youth, what business do we have other than to assert our own beliefs. (this is how I format my psy warfare). rawr.. Anyway, I still think you are on PMS like a freight-train. Call them out on the good stuff, save the best for last. Don't piss away your 'A' grade with selfish indignation. People like you run this country, don't pull the wool over our eyes, man..
nitro harley
Well-Known Member
You are reading what sounds like an attempt at saying you are pretty dam important..
Dr Kynes
Well-Known Member
i got no idea what "Psy-Op he is talking about, unless....
[video=youtube;9bZkp7q19f0]http://www.youtube.com/watch?v=9bZkp7q19f0[/video]
You're focused on the label "reimbursement." First of all, if you make a penny more than the costs you can prove you incurred (through receipts) from your sales, you already exceeded that Oregon law. If you grew 20 pounds and didn't make a dollar of profit on it, that seems strange.
You can't compare de minimis things like potatoes, corn, and eggs to 20 pounds of a far more valuable substance. Because the expenses for growing illegal drugs aren't deductible--whether you call the payments "reimbursements" or not--100% of the money received is taxable income.
If you know it for a fact you should easily be able to prove it. But it's not a fact. None of the three people who claimed illegal drug sales weren't taxable have been able to provide any proof.
No attorney is going to tell you illegal drug sales aren't taxable. They look at the statutes and the regulations, they don't wave a magic wand and make it Ok.3. pro tip: to young and old alike..go to the attorneys, the attorneys go to..get ex-irs cpa with emphasis on norml..go to the surgeon other doctors go to..next time you meet a professional ask who they go to and why..you'll pay less and results in better outcome
UncleBuck
Well-Known Member
You must spread some Reputation around before giving it to schuylaar again.
UncleBuck
Well-Known Member
ChesusRice
Well-Known Member
You should see the 2.4 million dollar tax bill Harborside got for trying to claim expenses on the sale of weed in a legal state
heckler73
Well-Known Member
Are you talking about those shears developed by Northrop-Grumman for trimming Bonsai plants on Mars?
Why yes, I heard they are quite expensive...
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ChesusRice
Well-Known Member
hey Buck
Ever considered trying a fan and mesh?
UncleBuck
Well-Known Member
ChesusRice
Well-Known Member
(CNN) -- House Republicans won't support raising the federal government's borrowing limit without new spending cuts from the Obama administration, and the White House risks an unprecedented U.S. default by refusing, House Speaker John Boehner said Sunday.
Texas Sen. Ted Cruz, a tea
party-backed Republican seen as the architect of the new impasse, told
CNN that many previous Congresses have attached conditions to debt-ceiling
increases and accused Obama of hyping the risks of a default. He said
Republicans should demand "some significant structural plan and reduce
government spending" as a condition of raising the borrowing limit, as well as
"ways to mitigate the harms from Obamacare."
After soaring to more than $1.4
trillion in 2009, the annual federal budget deficit was expected to shrink below
$650 billion in 2013, according to the nonpartisan Congressional Budget Office.
But the total federal debt is nearly $17 trillion and is expected to go up by
another $6 trillion by 2023, the CBO predicts.
Among the reasons for the
shrinking deficits are increased tax collections since January, when Bush-era
tax cuts for top earners and a temporary cut in Social Security withholding were
allowed to expire. Boehner said that's why he won't accept tax increases in any
deal.
"The president got $650 billion
of new revenues on January the first ... Now, it's time to talk about the
spending problem," he said.
Texas Sen. Ted Cruz, a tea
party-backed Republican seen as the architect of the new impasse, told
CNN that many previous Congresses have attached conditions to debt-ceiling
increases and accused Obama of hyping the risks of a default. He said
Republicans should demand "some significant structural plan and reduce
government spending" as a condition of raising the borrowing limit, as well as
"ways to mitigate the harms from Obamacare."
After soaring to more than $1.4
trillion in 2009, the annual federal budget deficit was expected to shrink below
$650 billion in 2013, according to the nonpartisan Congressional Budget Office.
But the total federal debt is nearly $17 trillion and is expected to go up by
another $6 trillion by 2023, the CBO predicts.
Among the reasons for the
shrinking deficits are increased tax collections since January, when Bush-era
tax cuts for top earners and a temporary cut in Social Security withholding were
allowed to expire. Boehner said that's why he won't accept tax increases in any
deal.
"The president got $650 billion
of new revenues on January the first ... Now, it's time to talk about the
spending problem," he said.
UncleBuck
Well-Known Member
unless, of course, they fall on the middle class.
because we all know how boehner loves to erase the massive deficit that he and his GOP friends built on the backs of working schmucks via the payroll tax cut.
and let's not forget how he voted against the ARRA, which was a huge tax break for the middle class.
so when boehner says "no tax increases", he simply means no tax increases for those at the very very top. not people like us.
ChesusRice
Well-Known Member
it looked cool
Trimming sucks ass