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STATE TAX aircraft

sleepingsquirrel

By sleepingsquirrel
in General Mooney Talk

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N1026F Enthusiast

N1026F

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My CPA and estate planning attorney said I could incorporate into a subsidiary of my other two vertically integrated business entities and then rent my plane from myself and write off all my state taxes, maintenence expenses and fees that didn't get paid by my clients under travel expenses.  It would also protect my other non-exempt assets from a judgment if I left a smoky hole in someone' roof and my coverage was insufficient to satisfy a settlement or verdict? 


Anyone else doing this?


--how's this for being back on topic?


 

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RobertGary1
RobertGary1

$600 for me in California. Don’t complain.    -Robert 

RJBrown
RJBrown

The fallacy is that corporations pay tax at all. No corporation still in business ever paid any tax. ALL taxes supposedly paid by corporations are simply MARKED UP and passed on to the consumer. The p

jetdriven
jetdriven

When it comes down to it, I trust the union more than the company.   If you ever worked in a union shop you would know this.  Who is the most heavily unionized airline? Southwest Airlines.  Who has th

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N1026F Enthusiast

N1026F

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Quote: jetdriven

Can someone describe "conservative" anymore?  Cause last time I checked, Bush and Co. raised the national debt by double, or 5 Trillion dollars Plus the legacy of 2 wars nobody wants and tax cuts we cannot afford.  So what are they conserving?

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jetdriven Grand Master

jetdriven

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yep.  not fair :)   Cain said it best "if you are not rich, its because you're lazy".  I didnt know I lived on a planet with so many slackers!

Quote: fantom

It works for lots of other assets, as well..... Innocent

Of course if one doesn't have a business, assets, or a pot to piss in, then it's just "not fair".  Cool

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John Pleisse Grand Master

John Pleisse

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Quote: N1026F

My CPA and estate planning attorney said I could incorporate into a subsidiary of my other two vertically integrated business entities and then rent my plane from myself and write off all my state taxes, maintenence expenses and fees that didn't get paid by my clients under travel expenses.  It would also protect my other non-exempt assets from a judgment if I left a smoky hole in someone' roof and my coverage was insufficient to satisfy a settlement or verdict? 

Anyone else doing this?

--how's this for being back on topic?

 

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Parker_Woodruff Grand Master

Parker_Woodruff

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We need a society where community and families are valued.  People look after other people (locally) for their needs.  Have you noticed that large charities (where politicians give their token gifts to) do very little dollar for dollar compared to local churches and communities.  Where I come from you look after your neighbor and when he's in real need, you show mercy.  Somehow liberals feel that going through the government middleman is somehow more effective.


There are a lot of generous, kind hearted Republicans and Conservatives out there.

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jetdriven Grand Master

jetdriven

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Whatever happened to good old fashionaed accountability.  You get drunk. You fly into a chuirch full of nuns and baby seals.  You cannot be sued for damages because of corporate trickery, yet I can.  The fundamental problem with a corporation is it has no body to imprison and no life to take if it does wrong.

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N1026F Enthusiast

N1026F

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1) "Taxpayer" makes my point better--Tea Party Neocons are getting paid by taxpayers to simply sit up there and contribute nothing but criticism. It's like trying to go to lunch with someone that hates your suggestions but makes none of their own.


2) I don't like to label individuals, but if I helped you find your way, your welcome.


3)This thread is obvously not the place to "be left alone."

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jetdriven Grand Master

jetdriven

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Parker I may be a liberal but you and I have more in common than you think. I actually may be more if a libertarian than democrat, as I believe that government is a necessary evil, yet it required to protect the common man from abuses and outright theft from the strong. There has been plenty of that taking place the last decade. Too much.

Unions serve the same purpose between employer and employee. I just dont believe that the powerful will always do the right thing regarding relations with the weak or common man.  Greed is too much a human nature.

Quote: Parker_Woodruff

We need a society where community and families are valued.  People look after other people (locally) for their needs.  Have you noticed that large charities (where politicians give their token gifts to) do very little dollar for dollar compared to local churches and communities.  Where I come from you look after your neighbor and when he's in real need, you show mercy.  Somehow liberals feel that going through the government middleman is somehow more effective.

There are a lot of generous, kind hearted Republicans and Conservatives out there.

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Parker_Woodruff Grand Master

Parker_Woodruff

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Quote: N1026F

1) "Taxpayer" makes my point better--Tea Party Neocons are getting paid by taxpayers to simply sit up there and contribute nothing but criticism. It's like trying to go to lunch with someone that hates your suggestions but makes none of their own.

2) I don't like to label individuals, but if I helped you find your way, your welcome.

3)This thread is obvously not the place to "be left alone."

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Seth Grand Master

Seth

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Fellow Mooneyspacers - please cease the political banter.  A joke or two here or there is fine, or maybe we'll create another forum for it, but we've done a very good job of keeping MooneySpace clean and clear of politics for years now - let's keep it that way. 


I vote for airplane talk.


Take care, and for those of you out there, have an easy fast.


-Seth

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