About small business people...

[The Paperboy]

what is your cog for a month? when you file with what form do you use?

According to my 2007 S Corp return Cost of Goods (Line 2) was $371,183.00.

Any other questions, Columbo?

 

[bk1983]

According to my 2007 S Corp return Cost of Goods (Line 2) was $371,183.00.

Any other questions, Columbo?

how many shareholders does your s corp have?

 

[The Paperboy]

It just seems apparent to those of us who have run small businesses that you don't know your subject matter.

You wouldn't be the first to say so. I'm sure you won't be the last. My wife does the bookkeeping and we have a CPA. All I do is sign where I'm told to.

But I'm not sure exactly what I've said that causes such disbelief. This stuff is not rocket science.

But back to my question....

I'd also add, that if what you are saying were true, what wouldn't be true is what occurred -- that the only demographic Obama lost was white males who aren't college educated... the group which is most insecure about economic competition.

I think you will agree that when an election cycle begins each side begins with 45% and then battles over the remaining 10%.

I suspect there were a lot of different reasons the last 10% voted the way they did.

 

[bk1983]

You wouldn't be the first to say so. I'm sure you won't be the last. My wife does the bookkeeping and we have a CPA. All I do is sign where I'm told to.

But I'm not sure exactly what I've said that causes such disbelief. This stuff is not rocket science.

But back to my question....



I think you will agree that when an election cycle begins each side begins with 45% and then battles over the remaining 10%.

I suspect there were a lot of different reasons the last 10% voted the way it did.

Exactly which is why you look more stupid. how many shareholders do you have?

 

[The Paperboy]

how many shareholders does your s corp have?

Now you're getting silly. I set up my S Corp over 10 years ago and haven't looked at the papers since. But just for you when I go down to my wife's office (yes she has a home office too) I'll pull out the incorp papers and let you know. There in a cool little box with a seal imprinter. Very impressive.

I did go out in the garage and grab my 2007 tax returns so I could answer your other question. Wanna ask me any questions about those, Columbo?

Now when do you think you might answer my little tax question?

 

[bk1983]

Now you're getting silly. I set up my S Corp over 10 years ago and haven't looked at them since. But just for you when I go down to my wife's office (yes she has a home office too) I'll pull out the incorp papers and let you know. There in a cool little box with a seal imprinter. Very impressive.

I did go out in the garage and grab my 2007 tax returns so I could answer your other question. Wanna ask me any questions about those, Columbo?

Now when do you think you might answer my little tax question?

yea thats what I though,liar.. ur pathetic.. I thought you operate out of your house with no inventory and only 2 consultants? how do you know your earnings if you dont even know how many shareholders? your shareholders determine your portion of income.. nice try,,

 

[The Paperboy]

yea thats what I though,liar.. ur pathetic.. I thought you operate out of your house with no inventory and only 2 consultants? how do you know your earnings if you dont even know how many shareholders? your shareholders determine your portion of income.. nice try,,

Just checked with the wife. 100 shares.

OK, listen, Columbo. Are you prepared to put your money where your mouth is?

How about we make a nice heafty wager that I can produce tax documents that prove exactly what I say? Not only that I will provide you with my web site, phone number and maybe even some clients.

If you're ready let me know and I will PM you.

Now either put up or shut up.

P.S. By the way Sherlock, my two consultants are independent contractors and the wife is not on the payroll. I am the only employee which is why I could care less how many shares the corp has. I pay myself a salary and the rest is taken as S Corp Profit from Schedule E (Line 32).

 

[Chris]

The Congress proposes the budgets and controls the purse strings.

The last two budgets were controlled by Democrats with a lame duck President.

Explain that one?

Bullshit.

Reagan and Bush are responsible for 90% of the National Debt.

If you cut taxes and increase military spending, you end up with massive debt.

That is what the borrow and spend Republicans do.

 

[The Paperboy]

Bullshit.

Reagan and Bush are responsible for 90% of the National Debt.

If you cut taxes and increase military spending, you end up with massive debt.

That is what the borrow and spend Republicans do.

Perhaps but your Democratic Congress continued it for the past two years and will continue it for the next 2 years.

 

[Chris]

Perhaps but your Democratic Congress continued it for the past two years and will continue it for the next 2 years.

More bullshit.

Bush pushed through the Iraq invasion with lies. Then he pushed through the bullshit "war on terror" which is costing us a fortune. Then he pushed through the bogus Medicare drug benefit which was a handout to the drug companies.

You can't lie to me boy. I know too much.

 

[The Paperboy]

More bullshit.

Bush pushed through the Iraq invasion with lies. Then he pushed through the bullshit "war on terror" which is costing us a fortune. Then he pushed through the bogus Medicare drug benefit which was a handout to the drug companies.

You can't lie to me boy. I know too much.

I agree with you on the Medicare benefit. It was bullshit.

But I'm afraid you will have to be lying to yourself in about 2 years when the deficit has gotten bigger, the debt has grown, unemployment is high and many of our troops are still in Iraq.

 

[Chris]

I agree with you on the Medicare benefit. It was bullshit.

But I'm afraid you will have to be lying to yourself in about 2 years when the deficit has gotten bigger, the debt has grown, unemployment is high and many of our troops are still in Iraq.

The deficit will have to get bigger to save the country from Bush's failed leadership.

It will take more than two years to turn things around.

 

[The Paperboy]

The deficit will have to get bigger to save the country from Bush's failed leadership.

It will take more than two years to turn things around.

Yes, but will we see improvement within 2 years? Obama and the Dems will only be able to blame Bush for a year. Remember by 2010 the Dems will have controlled Congress for 4 years. As a business person I hope the economy is doing much better. I simply have my doubts. I will be happy to be wrong.

 

[NOBama]

The deficit will have to get bigger to save the country from Bush's failed leadership.

It will take more than two years to turn things around.

Look in a mirror, you'll find an idiot.

Over.

 

[Chris]

Yes, but will we see improvement within 2 years? Obama and the Dems will only be able to blame Bush for a year. Remember by 2010 the Dems will have controlled Congress for 4 years. As a business person I hope the economy is doing much better. I simply have my doubts. I will be happy to be wrong.

We need more than improvement in two years. We need an adminstration that works on the real problems facing America.....getting out of Iraq, American energy independence, and our ridiculously overpriced healthcare system.

Those are Obama's priorities, not some bogus bullshit "war on terror."

 

[Care4all]

Paperboy, you are making no sense.

1. in your example of having to pay $8000 more a year in taxes....
The tax hike for the family over $250k net taxable income is $30 for every $1000 extra earned over the 250k net so if your taxes went up $8k on obama's plan that means that you earned net an additional $266k NET taxable income added to your $250k net for a total taxable NET income of $516,000. I don't think the $8k is going to kill or hurt any one that is netting a half a million a year.

you will still go to your restaurants, you will still pay your maid and you will still buy your yaght...making the extra 266k net on top of the $250k net will MORE than make up for the 8 k extra in taxes, the 3% extra you would have to pay under obama's plan....over the $250k....

basically, 8k extra on a net taxable family income of $516 k is not going to break your back or anyones in that kind of net income range.

But paying $1k more a year for a person making $20k net taxable income will make a huge difference to him...and strap him much more.

it is one or the other....the guy making $516k net/taxable getting strapped by the $8k more, or the 8 guys netting 20k getting strapped by paying $1k more....i think it would be much more valuable to give the -8 men making $20 k net an extra $1k of their own money in taxes back.

 

[The Paperboy]

The tax hike for the family over $250k net taxable income is $30 for every $1000 extra earned over the 250k.

Wrong. The tax rate goes up 3% on all the taxable income. Sigh.

 

[Chris]

Wrong. The tax rate goes up 3% on all the taxable income. Sigh.

Good.

People who make over $250,000 should pay more.

 

[The Paperboy]

We need more than improvement in two years. We need an adminstration that works on the real problems facing America.....getting out of Iraq, American energy independence, and our ridiculously overpriced healthcare system.

Those are Obama's priorities, not some bogus bullshit "war on terror."

Agreed. And I'm afraid you will also be very disappointed that Obama does not gets us anywhere near energy independence unless he allows major off shore drilling, expands coal plants and quickly gets a lot of nuclear plants being approved.

As for health care the best proposal I've heard is to allow health insurance companies to compete across state borders. Also to limit liability as insurance premiums are killing doctors. But he'd have to go up against the Trial Lawyers so don't hold your breath.

If Obama does these things I'll jump on the bandwagon.

 

[NOBama]

Good.

People who make over $250,000 should pay more.

Look in a mirror, you'll find an idiot.