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08:40 PM

Discussion in 'The 10 Ring' started by wabash, Jan 10, 2001.

  1. countrygun

    countrygun

    17,069
    17
    Mar 9, 2012

    No, no no. for once in our lives, since we are "rechanneling" as it were, our own funds, we WANT to pay retail. More to write off. Besides it attracts less attention if you pay market price than if you keep coming up with deals.
     
  2. samurairabbi

    samurairabbi Dungeon Schmuck

    5,894
    39
    Dec 31, 1998
    Indianapolis, IN
    Excellent memory, Unkle. I too remember the A&P supermarket chain. My parents could remember when the full name was Atlantic & Pacific Tea Company.

    On the other hand ... T&A is something completely different!
     


  3. Taterhead

    Taterhead Counting Beans

    3,595
    107
    Dec 13, 2008
    Boise, Idaho

    Shadow, good Sir, us accountants refer to it as "practicing accounting" too. We keep practicing until the numbers come out like we want them to. :supergrin:

    SR would know a thing or two about that over in Dungeon Finance. He is truly a professional practitioner. Get enough N' Sweats in him and he might "talk a little shop," so to speak. Sometime when he is appropriately lubricated (now is probably a good time most likely), ask him how he consistently manages to "hit the numbers."
     
  4. samurairabbi

    samurairabbi Dungeon Schmuck

    5,894
    39
    Dec 31, 1998
    Indianapolis, IN
    Actually, Tater, we don't "hit" the numbers; we SEDUCE them! I will show my age with this one-liner about "aggressive" accounting: Write off that loss with the help of Touche Ross.

    Appropriate lubrication is not really necessary. I prefer to be superbly coherent when dispensing instruction on my embezzleme ... Whoops! ... on my precisely meaningful ... accounting technique. It is vital that my subordinates be as insightful as I am; after all, I like to take vacations, too!
     
  5. Taterhead

    Taterhead Counting Beans

    3,595
    107
    Dec 13, 2008
    Boise, Idaho
    I must admit that I am lost me on "Touche Ross." Never met the guy. Was he good with numbers too?

    RE: your vacation -- just leave us your rubber stamp and a fresh ink pad. We'll cover for ya.
     
  6. There's a fine line between seduction and hitting, and lubrication is more useful for the former than the latter.
     
  7. samurairabbi

    samurairabbi Dungeon Schmuck

    5,894
    39
    Dec 31, 1998
    Indianapolis, IN
    In the eighties, Touche Ross was one of the "Big 8" accounting firms, and rumor had it, the most aggressively creative in masking bad news for its clients. The firm later merged with Deloitte Haskins & Sells, creating the current Deloite & Touche.
     
  8. _The_Shadow

    _The_Shadow Ret. Fireman

    4,519
    21
    Jul 23, 2007
    Southeast, LoUiSiAna
    Well if this is the case the Dungeon Finance accountants may need to practice my method of doing taxes...You work them backwards! :dunno: You decide how much you want [$$$] back then work said numbers with a little practice and arrive at the best numbers to achieve your desired results! You may be familure with part of this method referred to a Fudging! :wow:
     
  9. Taterhead

    Taterhead Counting Beans

    3,595
    107
    Dec 13, 2008
    Boise, Idaho
    My mistake. I thought "fudging" was what happened inside your trousers when the IRS man busts you while seducing the numbers.
     
  10. :rofl:
     
  11. VN350X10

    VN350X10

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    Apr 13, 2001
    McHenry, IL
    Uncle has the system figured out at this point.....
    My new accountant(last one died, had to replace him!) worked for the I.R.S. for over 35 years before he retired. He got bored w/retirement & started an accounting firm. He is well versed in various methods & has proven QUITE adept in his new field of endeavor.
    My son has been using him for his business for several years....profitably. Not to say that son Michael is cheap, but he was born with a yamakle tattoed on his head !
     
  12. samurairabbi

    samurairabbi Dungeon Schmuck

    5,894
    39
    Dec 31, 1998
    Indianapolis, IN
    Your method has ONE possible limitation: on the occasions we want it ALL, there is no need to work BACK to determine how to achieved your desired results.
     
  13. VN350X10

    VN350X10

    6,448
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    McHenry, IL
    All I want to do is be able to deduct 125% of what I earn per year.
    I'm not greedy !


    uncle
     
  14. samurairabbi

    samurairabbi Dungeon Schmuck

    5,894
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    Dec 31, 1998
    Indianapolis, IN
    Unkle, you may be too limited in your thinking. If you handle things correctly under the Earned Income Tax Credit structure, then not only will you NOT pay any taxes, but also the government would actually give YOU money!
     
  15. VN350X10

    VN350X10

    6,448
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    Apr 13, 2001
    McHenry, IL
    If they do that, won't I have to go into farming ?


    uncle
     
  16. samurairabbi

    samurairabbi Dungeon Schmuck

    5,894
    39
    Dec 31, 1998
    Indianapolis, IN
    Not necessarily; the Earned Income Tax Credit is a lovely scam ... whoops! ... I mean, a precisely targeted entitlement program ... that does not require you to do farming. The farming subsidies, though, may have been the prototype for the EITC.

    And anyway, being a "Gentleman Farmer" ain't so bad.
     
  17. VN350X10

    VN350X10

    6,448
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    Apr 13, 2001
    McHenry, IL
    Remember, George Washington was a very wealthy gentleman farmer.....


    Yet he was so cash-poor that he had to borrow money for traveling expenses to attend his own Inaguration !
     
  18. Before you become a gentleman farmer, you need to do a financial analysis on what not to grow. The government is far more generous with certain subsidies, so it would be foolish to not grow the wrong crops.
     
  19. _The_Shadow

    _The_Shadow Ret. Fireman

    4,519
    21
    Jul 23, 2007
    Southeast, LoUiSiAna
    That is why it is so important to properly "Fudge"...I sorry I meant working backwards even if you want 125% back, to have the numbers look honest and straight forward! This works with any and all credits because the numbers look and work correctly. :shocked:

    This brings us to the "farming subsidies", this can be also refered to as a "cash crop" Gov pays you not to plant certain crops, but then you plant something like medical Cannabis on public land, then have the illegal immigrants work the fields, earning yet another deduction for special employment ops, taking the full advantage because certain percentage crop loss for personal gains :whistling: and then the medical research grants aspect while claiming squaters rights to full ownership of the public lands without capital gains taxes. :faint: