The business offer

ChesusRice said:
Profits are after taxes. Not before. Maybe that was your dad's problem. He didnt pay his taxes.

Oh it was. Never mind
Click to expand...

WRONG!!

"profits" are your monies left over after expenses.

taxes are laid against those monies, after expenses, but they call it "income"

the "income" that the IRS taxes IS your "profits", so the IRS leaves your profits that much smaller.

the IRS has so fucked up the language that you cant even tell whats what any more.

if taxes were an "expense" they would be charged on your gross, or would be constant, like fees or licenses.

thats why your "profits" are always either Pre-Tax or After-Tax.

just like your "income" from a payroll check, the IRS has decided that you have a "personal deduction" of $3,900.00 thats how much they assert your living expenses for the year are, and everything after that is "taxable income" or "profit" from your business of "selling your labour commodity"

thats right. your living expenses are set at a uniform $3,900 for 2013. only by filing the extra long extended form and demonstrating other "Allowable" expenditures (food fuel shelter clothing education etc are NOT "Allowable") can you claim additional expenses.

lol.
 
Dr Kynes said:
WRONG!!

"profits" are your monies left over after expenses.

taxes are laid against those monies, after expenses, but they call it "income"

the "income" that the IRS taxes IS your "profits", so the IRS leaves your profits that much smaller.

the IRS has so fucked up the language that you cant even tell whats what any more.

if taxes were an "expense" they would be charged on your gross, or would be constant, like fees or licenses.

thats why your "profits" are always either Pre-Tax or After-Tax.

just like your "income" from a payroll check, the IRS has decided that you have a "personal deduction" of $3,900.00 thats how much they assert your living expenses for the year are, and everything after that is "taxable income" or "profit" from your business of "selling your labour commodity"

thats right. your living expenses are set at a uniform $3,900 for 2013. only by filing the extra long extended form and demonstrating other "Allowable" expenditures (food fuel shelter clothing education etc are NOT "Allowable") can you claim additional expenses.

lol.
Click to expand...

Very well put, I might add.
For some reason my like feature is disabled.
 
Bombur said:
It's called pre-tax income, not profit.
Click to expand...

and yet the IRS still frequently talks about "Taxes On Profits"

they play with the language to ensure that nobody knows exactly what they are talking about.

social_engineering_jpg_460x345_q85.jpg
 
It's called EBIT People.

Earnings Before Interest & Taxes

The bottom line is called NET profit. Net takes into account all the expenses of running a business or your own personal incorporated self, as we all know corporations are people so therefore all people are corporations. Things which are equal to the same thing are also equal to one another.

You just have to incorporate to be able to take all those juicy deductions like food and fuel expenses.
 
schuylaar said:
or you could have have kept the CPA and wouldn't have had this issue..i just love those who "try" to do their own taxes, payroll etc;..if i were still at kushy fortune 500, this post would have been printed, laminated and in my "book of shame" to show others why they need to hire a professional:wall:

EDIT: and i'm pretty sure that $400k was payroll tax dollars..amiright?..which the IRS abhors..one thing to fuck around with corporate tax..just don't fuck around with payroll tax..IT DOESN'T BELONG TO YOU..not the EE portion or the ER portion..that's where employers make their BIG mistake..at least one of them..
Click to expand...
Yup, it was all over payroll taxes.
I had a great deal with the cpa, he did it all for $1200/month. I mean, we had to send him the info, he did everything else after that.

My dads partner was off by a couple percentage points.

In their defense, before me my brother was the gm, then me. I changed CPAs because the one we had wanted to go from 1700 to 2300/month.

My dads partner used to do the taxes. The thing that changed is we shifted from exclusively 1099 employees to adding a bunch of W2. And I think taxes got more complicated, and harder to cheat over the 12 years that my brother and I were making a lot of the business decisions.

@ cheesy, business have two numbers, net profit before tax, and then after tax, it is just so they know exactly what their tax liabilities are. The numbers are far too close.
 
in the history of america, no one has ever been forced to start a business. ever.

if starting a business is such a reason for crying and whining and complaining, then here's an easy solution: don't.

save your fucking tears, go galt, and leave the hard work for the non-crybabies.

stick to chain emails instead.
 
if you have to explain the difference between gross and net, then you are wasting your breath. these people will never have their own businesses nor will they ever understand what it takes. 90% of all small businesses fail, and here are successful business owners trying to explain what it takes, and along comes the "nu uhs" from the clock punchers who couldnt run a succesful lemonade stand.

now if i wanted to know how to get paid without working , then i will listen because we have a few experts in the field of entitlement around here that are good at consuming others hard work.
 
spandy said:
if you have to explain the difference between gross and net, then you are wasting your breath. these people will never have their own businesses nor will they ever understand what it takes. 90% of all small businesses fail, and here are successful business owners trying to explain what it takes, and along comes the "nu uhs" from the clock punchers who couldnt run a succesful lemonade stand.

now if i wanted to know how to get paid without working , then i will listen because we have a few experts in the field of entitlement around here that are good at consuming others hard work.
Click to expand...

you sound like beenthere, ya little crybaby.
 
spandy said:
crying all the way to the bank.
Click to expand...

let me engage you on a level you may understand: chain email

my boss pulled in to work today in his awesome new car and i complimented him on it.

he said "well, if you set goals, work real hard, you're really determined, and put in long hours, i can get an even nicer one next year"
 
UncleBuck said:
let me engage you on a level you may understand: chain email

my boss pulled in to work today in his awesome new car and i complimented him on it.

he said "well, if you set goals, work real hard, you're really determined, and put in long hours, i can get an even nicer one next year"
Click to expand...

no one is making that person work for this man just like no one made this man open his own business.
 
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