Depending on the business, it can be anything. Usually it only makes sense over a certain value, and if it will last at least a few years without needing to be discarded. Also, it's usually physical items that have a resale value (not software or services).
Work vehicles, computers, office equipment, etc.
Does Haddix assume that every business owner in the world waits until they can buy their storefront outright before opening shop? If not, he may be interested to know that tenants in professional office buildings or retail spaces enter LEASES.
So you don't have any large capital investments (equipment/machinery) that let you have deductions for depreciation of assets?
My dad, who was a butcher at the A&P for 44 years summed it up best. You can work for your money, or your money can work for you.
When he retired he traveled to five continents, dozens of countries and he and mom enjoyed the 20 years of retirement in wonderful fashion. All paid with money that worked for them.
My Grandpa did the same thing. He never made much money but he has a ton now that he's retired because he started saving very early.
My money will work for me as well. I have followed in his footsteps on saving and did even more. I have set up so many forms of revenue already that I really could go without a job, but it's prudent of me to stay here for the cheap health care, reliability, etc.
That said. The credit system is a farse. Where does all this money come from? How can it be that the world market economy generally increases every decade? The law of conservation of matter and energy states that nothing can be created or destroyed. All that can happen is that things exchange hands. But somehow through "credit" and "money" it grows? Think about it this way, the Earth only has so many resources. Once everything inside the earth is mined or pumped out of it then all of it will be on top of the crust sitting in a bank on wall street in the lap of the CEO of the company that was in bed the tightest with the head of the US treasury on that day. Remember there will be no food, clothing, water, oil, or real material goods left but there will be lots of money. (which will all be on paper of course, or in a computer account)
So you don't have any large capital investments (equipment/machinery) that let you have deductions for depreciation of assets?
And don't forget that with Obama as President you are going to need ALL the deductions you can come up with, since he thinks that corporations need to be taxed more just because they are rich, ROFL!
And don't forget that with Obama as President you are going to need ALL the deductions you can come up with, since he thinks that corporations need to be taxed more just because they are rich, ROFL!
What do you think he is going to do with the capital gains tax.....I say some where around 35-45%
"Failure to plan on your part, does not constitute an emergency on my part."
The appalling thing about this whole deal, to me, is that the banks in question (the ones who need the bailout) have ben widely cited as refusing to participate in the plan if executive compensation was targeted too strongly.
...
Seriously.
I think the only opposition Main Street has to this plan, is the appearance that the same executives who got us in to this mess would somehow see even a single penny after the fact. THEIR money should be the first dollars spent on the bailout, not ours. When that runs out, we can talk.
People can see through the smokescreen enough to know that "curbing" pay is not the same as "eliminating" pay.
And we haven't even started talking about criminality and congressional hearings yet. There will be blood.
I think the other perception problem this bill has is the price tag - $700 Billion seems like a huge number, and one that is just a little bit too perfect. It's the fiscal equivalent of performing surgery with a hatchet. Where did that number come from? We sure it can't be scaled back a few billion here or there? We sure it's enough?
I'm all for any plan that solves the problem, so long as it's made CRYSTAL clear that the players involved are NOT allowed to profit - as companies or as individuals - by way of this bailout. We can let justice take it's course later, but the up-front requirement is to be perfectly clear that WE THE PEOPLE make NO CONCESSIONS regarding the terms of this bailout.
And fuck anyone who says it's a "rescue". This is a bailout. A "rescue" is what happens when something accidental and unforeseen happens. A bailout is what happens when someone does something stupid and needs someone else's help to get out of it.
My Grandpa did the same thing. He never made much money but he has a ton now that he's retired because he started saving very early.
My money will work for me as well. I have followed in his footsteps on saving and did even more. I have set up so many forms of revenue already that I really could go without a job, but it's prudent of me to stay here for the cheap health care, reliability, etc.
That said. The credit system is a farse. Where does all this money come from? How can it be that the world market economy generally increases every decade? The law of conservation of matter and energy states that nothing can be created or destroyed. All that can happen is that things exchange hands. But somehow through "credit" and "money" it grows? Think about it this way, the Earth only has so many resources. Once everything inside the earth is mined or pumped out of it then all of it will be on top of the crust sitting in a bank on wall street in the lap of the CEO of the company that was in bed the tightest with the head of the US treasury on that day. Remember there will be no food, clothing, water, oil, or real material goods left but there will be lots of money. (which will all be on paper of course, or in a computer account)
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