Trump will leave office with a historically bad economic record

[Bobob]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Then you know that it can be acceptable to take a loss so as to offset the taxes from future earnings. Or that a business can show ZERO profit because it has aggressively reinvested profits and used depreciation schedules

You are referring to "showing a loss".

There is no difference.

A loss is a loss

As a business owner for 30 years, a true financial loss kept me awake all night as I would worry as to how I was going to meet my payroll if it continued. A loss based upon legal write-offs etc. is a whole different ball game. Have you ever had to meet a payroll?

 

[danielpalos]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

 

[Bobob]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Why incorporate on a for-profit basis if profit means nothing?

You do know that the vast majority of businesses are not publicly traded don't you?

All a corporation does for these privately owned businesses is provide a legal protection for the owners behind the corporate veil.

I have an S corp and 2 LLCs, My wife owns an S corp.

I showed zero or negative profits for the first 5 or 6 years when I was buying and flipping houses and when I was heavily leveraged when acquiring other commercial properties.

Why the legal distinction between for-profit and not-for-the-profit-of-lucre?

Tax treatment.

And not for profit businesses have to jump through a lot of hoops to keep that designation.

The other reason is that you cannot sell a not for profit business because it has no owners in the traditional sense. So if you want to build a business to sell it when you retire you can't be a non profit .

Non Profit Ownership: Everything You Need to Know

A non profit ownership structure, unlike a for-profit company, does not include shareholders and does not determine ownership by a percentage of shares.

www.upcounsel.com

A not-for-profit business will put any potential profits in a holding account on their financial statement to be expensed when needed. Perfectly legal

 

[danielpalos]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Why incorporate on a for-profit basis if profit means nothing?

You do know that the vast majority of businesses are not publicly traded don't you?

All a corporation does for these privately owned businesses is provide a legal protection for the owners behind the corporate veil.

I have an S corp and 2 LLCs, My wife owns an S corp.

I showed zero or negative profits for the first 5 or 6 years when I was buying and flipping houses and when I was heavily leveraged when acquiring other commercial properties.

Why the legal distinction between for-profit and not-for-the-profit-of-lucre?

Tax treatment.

And not for profit businesses have to jump through a lot of hoops to keep that designation.

The other reason is that you cannot sell a not for profit business because it has no owners in the traditional sense. So if you want to build a business to sell it when you retire you can't be a non profit .

Non Profit Ownership: Everything You Need to Know

A non profit ownership structure, unlike a for-profit company, does not include shareholders and does not determine ownership by a percentage of shares.

www.upcounsel.com

In other words, for-profit firms should be maximizing profits for the bottom line.

 

[Blues Man]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Then you know that it can be acceptable to take a loss so as to offset the taxes from future earnings. Or that a business can show ZERO profit because it has aggressively reinvested profits and used depreciation schedules

You are referring to "showing a loss".

There is no difference.

A loss is a loss

As a business owner for 30 years, a true financial loss kept me awake all night as I would worry as to how I was going to meet my payroll if it continued. A loss based upon legal write-offs etc. is a whole different ball game. Have you ever had to meet a payroll?

Of course. And when I couldn't I laid people off.

Legally it makes no difference which all the matters in this discussion

 

[Blues Man]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

 

[danielpalos]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Then you know that it can be acceptable to take a loss so as to offset the taxes from future earnings. Or that a business can show ZERO profit because it has aggressively reinvested profits and used depreciation schedules

You are referring to "showing a loss".

There is no difference.

A loss is a loss

As a business owner for 30 years, a true financial loss kept me awake all night as I would worry as to how I was going to meet my payroll if it continued. A loss based upon legal write-offs etc. is a whole different ball game. Have you ever had to meet a payroll?

Of course. And when I couldn't I laid people off.

Legally it makes no difference which all the matters in this discussion

Maximizing profits is what for-profit firms have to show, regardless of minimum wage labor costs.

 

[Blues Man]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Why incorporate on a for-profit basis if profit means nothing?

You do know that the vast majority of businesses are not publicly traded don't you?

All a corporation does for these privately owned businesses is provide a legal protection for the owners behind the corporate veil.

I have an S corp and 2 LLCs, My wife owns an S corp.

I showed zero or negative profits for the first 5 or 6 years when I was buying and flipping houses and when I was heavily leveraged when acquiring other commercial properties.

Why the legal distinction between for-profit and not-for-the-profit-of-lucre?

Tax treatment.

And not for profit businesses have to jump through a lot of hoops to keep that designation.

The other reason is that you cannot sell a not for profit business because it has no owners in the traditional sense. So if you want to build a business to sell it when you retire you can't be a non profit .

Non Profit Ownership: Everything You Need to Know

A non profit ownership structure, unlike a for-profit company, does not include shareholders and does not determine ownership by a percentage of shares.

www.upcounsel.com

In other words, for-profit firms should be maximizing profits for the bottom line.

Not necessarily.

 

[danielpalos]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

to maximize profits....

 

[Blues Man]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Then you know that it can be acceptable to take a loss so as to offset the taxes from future earnings. Or that a business can show ZERO profit because it has aggressively reinvested profits and used depreciation schedules

You are referring to "showing a loss".

There is no difference.

A loss is a loss

As a business owner for 30 years, a true financial loss kept me awake all night as I would worry as to how I was going to meet my payroll if it continued. A loss based upon legal write-offs etc. is a whole different ball game. Have you ever had to meet a payroll?

Of course. And when I couldn't I laid people off.

Legally it makes no difference which all the matters in this discussion

Maximizing profits is what for-profit firms have to show, regardless of minimum wage labor costs.

They do not have to show any such thing and since payroll is usually one of the largest expenditures of any business what you pay your employees certainly does matter because payroll expenses are more than the salaries of your employees

 

[danielpalos]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Why incorporate on a for-profit basis if profit means nothing?

You do know that the vast majority of businesses are not publicly traded don't you?

All a corporation does for these privately owned businesses is provide a legal protection for the owners behind the corporate veil.

I have an S corp and 2 LLCs, My wife owns an S corp.

I showed zero or negative profits for the first 5 or 6 years when I was buying and flipping houses and when I was heavily leveraged when acquiring other commercial properties.

Why the legal distinction between for-profit and not-for-the-profit-of-lucre?

Tax treatment.

And not for profit businesses have to jump through a lot of hoops to keep that designation.

The other reason is that you cannot sell a not for profit business because it has no owners in the traditional sense. So if you want to build a business to sell it when you retire you can't be a non profit .

Non Profit Ownership: Everything You Need to Know

A non profit ownership structure, unlike a for-profit company, does not include shareholders and does not determine ownership by a percentage of shares.

www.upcounsel.com

In other words, for-profit firms should be maximizing profits for the bottom line.

Not necessarily.

Yes, that must be the case. It could be considered a form of fraud without any plan or goal to maximize profits for the bottom line.

 

[Blues Man]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

to maximize profits....

You are wrong. Tell you what run a business for 20 years and get back to me

 

[danielpalos]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Then you know that it can be acceptable to take a loss so as to offset the taxes from future earnings. Or that a business can show ZERO profit because it has aggressively reinvested profits and used depreciation schedules

You are referring to "showing a loss".

There is no difference.

A loss is a loss

As a business owner for 30 years, a true financial loss kept me awake all night as I would worry as to how I was going to meet my payroll if it continued. A loss based upon legal write-offs etc. is a whole different ball game. Have you ever had to meet a payroll?

Of course. And when I couldn't I laid people off.

Legally it makes no difference which all the matters in this discussion

Maximizing profits is what for-profit firms have to show, regardless of minimum wage labor costs.

They do not have to show any such thing and since payroll is usually one of the largest expenditures of any business what you pay your employees certainly does matter because payroll expenses are more than the salaries of your employees

Minimizing costs helps maximize profits.

 

[danielpalos]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

to maximize profits....

You are wrong. Tell you what run a business for 20 years and get back to me

Minimizing costs helps maximize profits.

 

[Blues Man]

Not one single private sector business is required to make a profit.

The for-profit private sector is required to seek a profit; only lousy management fails.

True, lousy management fails and good management also may fail if the business cannot be competitive in the
marketplace.

but there is no requirement for any business to make a profit

I know since I have been there and have experienced both sides of the totem pole.

Why incorporate on a for-profit basis if profit means nothing?

You do know that the vast majority of businesses are not publicly traded don't you?

All a corporation does for these privately owned businesses is provide a legal protection for the owners behind the corporate veil.

I have an S corp and 2 LLCs, My wife owns an S corp.

I showed zero or negative profits for the first 5 or 6 years when I was buying and flipping houses and when I was heavily leveraged when acquiring other commercial properties.

Why the legal distinction between for-profit and not-for-the-profit-of-lucre?

Tax treatment.

And not for profit businesses have to jump through a lot of hoops to keep that designation.

The other reason is that you cannot sell a not for profit business because it has no owners in the traditional sense. So if you want to build a business to sell it when you retire you can't be a non profit .

Non Profit Ownership: Everything You Need to Know

A non profit ownership structure, unlike a for-profit company, does not include shareholders and does not determine ownership by a percentage of shares.

www.upcounsel.com

In other words, for-profit firms should be maximizing profits for the bottom line.

Not necessarily.

Yes, that must be the case. It could be considered a form of fraud without any plan or goal to maximize profits for the bottom line.

It's not fraud at all.

It'a all perfectly legal and our tax code makes it so

 

[Blues Man]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

to maximize profits....

You are wrong. Tell you what run a business for 20 years and get back to me

Minimizing costs helps maximize profits.

Wow that's deep.

But meaningless

 

[danielpalos]

It's not fraud at all.

It could be, that is why you have to show some business plan that shows how you expect to maximize profit on a long run basis. Minimizing costs means trying to maximize profits.

 

[danielpalos]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

to maximize profits....

You are wrong. Tell you what run a business for 20 years and get back to me

Minimizing costs helps maximize profits.

Wow that's deep.

But meaningless

You need to show that or you may be engaging in fraud.

 

[Blues Man]

It's not fraud at all.

It could be, that is why you have to show some business plan that shows how you expect to maximize profit on a long run basis. Minimizing costs means trying to maximize profits.

there is no requirement for any business plan unless you are borrowing money from a bank.

And how can it be fraud if you are obeying all the tax laws?

 

[Blues Man]

You don't understand business or tax law.

A business can show zero or negative profit and not lose money.

You might know this if you ever ran a business

Seeking a profit is the point. For-profit corporations proclaim they are in it for the Capital not the Social.

A for-profit firm is only a price taker not a price maker regarding statutory wages enacted by Government.

You're just plain wrong.

Just because you keep repeating something doesn't make it true

lol. Explain how I am wrong with a valid argument. You simply claiming what you do means nothing but hypocrisy.

You are wrong because as I have told you there are times where it is perfectly acceptable to run at zero or negative profits.

But you don't understand it

For tax preference. Becoming profitable is a goal for any for-profit business.

Actually minimizing tax liability is the goal.

to maximize profits....

You are wrong. Tell you what run a business for 20 years and get back to me

Minimizing costs helps maximize profits.

Wow that's deep.

But meaningless

You need to show that or you may be engaging in fraud.

I have no requirement to show that I minimized costs