Author |
Topic: Taxes and a failed business (Read 282 times) |
|
chewy
Guest
|
Barb suggested a not so profitable business venture or maybe farming to claim as a loss on my taxes. I have combined those ideas.
I have begun farming a nice big patch of Poison Ivy and will soon have a business website selling full bouquets of Poison Ivy and maybe some nice Poison Oak door wreaths.
Get your orders in quick. (Or not)
|
| « Last Edit: Apr 10th, 2007, 4:45pm by chewy » |
 IP Logged |
|
|
|
Paul98
Guest
|
 |
Re: Taxes and a failed business
« Reply #1 on: Apr 10th, 2007, 4:58pm » |
 Quote  Modify
 Remove
|
I'm sure the IRS will be irritated and itching to audit you! It will probably leave them scratching their heads as to why you undertook such a venture.
-P.
|
|
IP Logged |
|
|
|
BarbaraD
CH.com Alumnus
New Board Hall of Famer
Hugs to ya
Gender: 
Posts: 5164
|
|
Re: Taxes and a failed business
« Reply #2 on: Apr 10th, 2007, 5:45pm » |
Quote Modify
|
Hey, this is a going venture. I've got my order in for Labor day - he's going to deliver a nice arrangement to Jonny at the bath-house.
Don't miss out on Chewy's beautiful Ivy. It'll have you itching for more...
Hugs BD
|
|
IP Logged |
What don't kill ya, Makes ya stonger!
|
|
|
Kevin_M
CH.com Alumnus
New Board Hall of Famer
withered branches grow green again.
Gender: 
Posts: 6184
|
|
Re: Taxes and a failed business
« Reply #3 on: Apr 10th, 2007, 5:50pm » |
Quote Modify
|
A worm farm next to a bird sanctuary.
|
|
IP Logged |
|
|
|
George_J
CH.com Alumnus
New Board Hall of Famer
White-Breasted Nuthatch
Gender:
Posts: 4222
|
|
Re: Taxes and a failed business
« Reply #4 on: Apr 10th, 2007, 6:35pm » |
Quote Modify
|
on Apr 10th, 2007, 4:44pm, chewy wrote:
I have begun farming a nice big patch of Poison Ivy and will soon have a business website selling full bouquets of Poison Ivy and maybe some nice Poison Oak door wreaths.
Get your orders in quick. (Or not) |
|
Without luck, it will be an enormous success. I can think of a number of people to whom I would like to send a bouquet of poison ivy. A door wreath of poison oak could be just the thing for visiting in-laws to encounter during the holidays. It might just be the next pet rock.
Go for the worm farm.
|
| « Last Edit: Apr 10th, 2007, 6:36pm by George_J » |
IP Logged |
Ah! The foreigners put on such airs
Wearing the tangerine suits
And their harlequin eyes.
The pain they inspire
Draws in harmonica melodies
And the feathers of birds
Which flame up at their touch.
It all comes to light in the sheer
Debonair.
(Ellen)
|
|
|
Sean_C
Guest
|
|
Re: Taxes and a failed business
« Reply #5 on: Apr 10th, 2007, 7:20pm » |
Quote Modify
Remove
|
I'll take a longstem ivy bouquet, heavy on the urushiol please ROTFLMMFAO 
Sean.........................
|
|
IP Logged |
|
|
|
Charlie
CH.com Alumnus
New Board Hall of Famer
Happy to be here
    
Gender:
Posts: 14968
|
|
Re: Taxes and a failed business
« Reply #6 on: Apr 10th, 2007, 9:37pm » |
Quote Modify
|
By the way Chuck; did you land that job as a sperm bank guard? 
Charlie 
|
|
IP Logged |
There is nothing more satisfying than being shot at without result---Winston Churchill
|
|
|
ClusterChuck
CH.com Alumnus
New Board Hall of Famer
The BEAST rises again, and again, and again, and .
Gender:
Posts: 3181
|
|
Re: Taxes and a failed business
« Reply #7 on: Apr 10th, 2007, 9:54pm » |
Quote Modify
|
on Apr 10th, 2007, 9:37pm, Charlie wrote:| By the way Chuck; did you land that job as a sperm bank guard? |
|
I got fired .....
They frowned on my collection methods ... Something about my body not being a very good vault ... Whatever THAT means ...
Chuck
|
|
IP Logged |
"No man can be happy without a friend, nor be sure of his friend till he is unhappy."
Thomas Fuller
|
|
|
Mac_Muz
New Board Old Timer
new hampster "eat seeds or die"
Gender:
Posts: 299
|
|
Re: Taxes and a failed business
« Reply #8 on: Apr 11th, 2007, 9:40am » |
Quote Modify
|
Well the marketing is all wrong... These plants should be called privacy screens.... The intent is to keep peepin toms far from being abled to view you and yours. A security measure with meaning, and only passive.
You could add russian ollive, cactus, and assorted other plants like stinging nettle. or was the idea to fail? 
|
|
IP Logged |
When all else fails read the instructions.
|
|
|
BarbaraD
CH.com Alumnus
New Board Hall of Famer
Hugs to ya
Gender:
Posts: 5164
|
|
Re: Taxes and a failed business
« Reply #9 on: Apr 11th, 2007, 9:47am » |
Quote Modify
|
Of course the idea is to FAIL -- he needs the tax write off....
|
|
IP Logged |
What don't kill ya, Makes ya stonger!
|
|
|
Lobster
CH.com Alumnus
New Board Hall of Famer
Gender:
Posts: 2016
|
|
Re: Taxes and a failed business
« Reply #10 on: Apr 11th, 2007, 10:07am » |
Quote Modify
|
Actually it does not need to fail at all.
You write off 100% of your business expenses for any business, successful or failed.
The exception is if your business has lost $$$ for some number of consecutive years, I believe.
That said, if it is Chewy's business, it has 'failure' all over it.
|
| « Last Edit: Apr 11th, 2007, 10:08am by Lobster » |
IP Logged |
Rock beats Scissors.
|
|
|
BarbaraD
CH.com Alumnus
New Board Hall of Famer
Hugs to ya
Gender:
Posts: 5164
|
|
Re: Taxes and a failed business
« Reply #11 on: Apr 11th, 2007, 10:17am » |
Quote Modify
|
Yep, he can do the poison ivy business for three years at a loss and then go into the worm farm... After three years we close down the business.... the poor boy is just paying WAAAY too much in taxes. We gotta help him out....
he just can't quit his day job.. 
Hugs BD
|
|
IP Logged |
What don't kill ya, Makes ya stonger!
|
|
|
Lobster
CH.com Alumnus
New Board Hall of Famer
Gender:
Posts: 2016
|
|
Re: Taxes and a failed business
« Reply #12 on: Apr 11th, 2007, 10:51am » |
Quote Modify
|
On that note, a non-blood relative of mine had his first contracting / 1099 job in 2006. Made a shitload of money, but did not bother himself with any of that 'estimated taxes' nonsense!
Now, a new car and new home theatre and back child support and $40k in other new shit later, tax time comes. His 1099 gig is over and he is back to making 'not too much', living on a shoestring budget.
He is pissed at me cuz I made an ass out of him the whole time I looked over his taxes, not to mention replying 'ummm, not only no, but fuck no' to his request to 'loan' him several $k to pay the bill.
Q- What if I cannot pay the installments?
A- Your cellmate is gonna rape you.
Q- What if I just do not file?
A- You gonna get raped even sooner.
Not sure why his irresponsible ass is all miffed at me now.
|
|
IP Logged |
Rock beats Scissors.
|
|
|
Mac_Muz
New Board Old Timer
new hampster "eat seeds or die"
Gender:
Posts: 299
|
|
Re: Taxes and a failed business
« Reply #13 on: Apr 11th, 2007, 1:21pm » |
Quote Modify
|
Ah I see, so what this now needs is consoldiation at the any and all entrances. Pile the nasty plants so deep and high no one can enter... make the risk more trouble than the tax is worth.... Literally a smear campain using poision ivy on every envelope to the IRS.....
Admittedly that will take some doing as those folks thrive on misery anyway. At first no doubt they will like it!
|
|
IP Logged |
When all else fails read the instructions.
|
|
|
|
|
|
Home
Help
Search
Members
Member Map
Login
Register
Reply
Notify of replies
Send Topic
Print
test rss