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Joined: Jun 2001
Posts: 2,614
Lord of Orcs
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Lord of Orcs
Joined: Jun 2001
Posts: 2,614 |
Quote:
What in the world are you talking about? Since when is payroll a deduction? Its called a cost Asp.
Let me give everyone here a fucking clue...a deduction or "write off" as you people put it does not pay you back what was spent. You don't get 100% back. You can write off...depending on the expense....up to 80% of certain business expenses....like meals with clients.
Now do the math. If I spend $1000 with a client and I can "write off" 80% do I actually get $800 back from the Government? FUCK NO YOU DON"T. You reduce your taxable income by $800. So if my company makes a $250,000 pre-tax profit and I can reduce that taxable number by $800 what does that get me back?
$250,000 x ( using Stretch's 35% because its an even number )= $87,500.
$249,200 x 35% =$87,220.
$87,500 -$87,220 = $280
This is the very very basics ppl. If I ever hear your dumb mother fuckers arguing write offs and deductions again I am gonna come to your houses and kill you with a sledge hammer because your a waste of oxygen.
Let's call payroll a "cost" so you don't get a brain clod or something. This "cost" is deducted from your gross income. Which means- you don't pay capital gain or income tax on it. Your payroll expenses (or cost) will not increase under Obama, which was my point.
Spending money on lunch "with clients". Most people pay for lunch with ANYONE out of their post tax paycheck. They get shit back. You have to eat anyway, don't you? Not only do you get tax credit for eating,unlike people on a paycheck but you also get to abuse it and most business owners do- because you can pretty much call a client anyone and no one is going to check your meals anyway. If you are claiming that you don't benefit from write-offs compared to ordinary people, you are either ignorant or a liar.
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