![]() |
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
|
#1
|
|||
|
|||
![]() "Jay Somerset" wrote in message ... On Fri, 11 May 2007 14:09:41 -0700, "Matt Barrow" wrote: This is true. If it weren't the case no corporation would ever pay taxes. They'd just say the money they earned was going to be spent for widgets at some time in the future. That's not how a pre-paid expense works. It's not a damn prepaid expense -- it is a sinking fund (paid in capital). Pre-paid maintenance (into a reserve account) is "paid in capital"? It does not become an expense (prepaid or otherwise) until money actually flow out to some third party. That's what I said. My suggestion -- go buy a book on accounting! Most of the posts in this thread are seriously out of touch with accounting principles and/or understanding of financial accounts! Such as your claim of a sinking fund? If there is no business that can (even in theory) earn a profit, then there is no depreciation expense and no insulation from liability through the corporation. WTF? Second suggestion (to the OP) -- hire an accountant and/or a tax advisor before you dig yourself into a hole that the IRS will trip over. Third sugesstion to Jay: Blow it out your ass, you pompous prick. |
Thread Tools | |
Display Modes | |
|
|
![]() |
||||
Thread | Thread Starter | Forum | Replies | Last Post |
Discussion on dealing with future ADIZ Incursions by light A/C | Hank Rausch | Piloting | 47 | May 14th 05 02:33 PM |
Book Review: "Dirty Dealing: Drug Smuggling on the Mexican Border",et al; Cartwright | Paul | Piloting | 0 | January 5th 05 06:36 PM |
FS: Aircraft Instruments Parts Avionics Warbird Parts | Bill Berle | Home Built | 0 | January 10th 04 02:20 AM |
FS: Aircraft Instruments Parts Avionics Warbird Parts | Bill Berle | Aviation Marketplace | 0 | January 10th 04 02:20 AM |
How to avoid Aircraft Ad Velorem taxes........... | ArtP | Owning | 6 | August 27th 03 08:37 PM |