Nothing Is Ever Easy With Truck

[Nyboy]

It stored patio cushions over winter

 

[bobm]

Just for information purposes only for your reading pleasure ! After a recent settlement of an IRS audit for similar scinario to this post . This man owned a successful business. He purchased old cars to restore as his hobby. Money pit with no end in sight. So, he started a car restoration business so that he could then use the restored vehicles to advertise his primary business and write off all restoration and maintenance costs to advertising. Long story short... he closed the car restoration business, paid mucho dinero $$$$ in back taxes, penalties + interest.

 

[catjac1975]

Just for information purposes only for your reading pleasure ! After a recent settlement of an IRS audit for similar scinario to this post . This man owned a successful business. He purchased old cars to restore as his hobby. Money pit with no end in sight. So, he started a car restoration business so that he could then use the restored vehicles to advertise his primary business and write off all restoration and maintenance costs to advertising. Long story short... he closed the car restoration business, paid mucho dinero $$$$ in back taxes, penalties + interest.

At first I did not understand the write-off not being allowed. So he KEPT the cars-did not sell them?

 

[Nyboy]

One of my clients does high end car restoring. I am told he is one of the best in country. Lives a very nice life style wish i could afford him

 

[bobm]

At yesterday's audit ... a professional claimed $2,500 continuing education costs as a business deduction . He had a cancelled check to prove it ... Googling the name on the check of the " school" at the audit ... seems the school is a --- MASSAGE PARLOR ...

 

[baymule]

At yesterday's audit ... a professional claimed $2,500 continuing education costs as a business deduction . He had a cancelled check to prove it ... Googling the name on the check of the " school" at the audit ... seems the school is a --- MASSAGE PARLOR ...

Don't these dummies know.....

YOU DONT MESS
WITH THE IRS!

 

[catjac1975]

Don't these dummies know.....

YOU DONT MESS
WITH THE IRS!

hahahahahahah

 

[Nyboy]

That must have been some massage for $2,500

 

[Jared77]

That must have been some massage for $2,500

For $2,500 I honestly don't want to know