Buffet: Tax the mega-rich

[mrplunkey]

he's got that whole day-tradin' thing figured out...he doesn't need any traditional compensation

And he funnels his entire existence through a company thus making his life tax deductible.

I'm not hating, but I'm willing to bet this guy does some absolutely insane things just to dodge taxes.

 

[digimon7068]

And he funnels his entire existence through a company thus making his life tax deductible.

I'm not hating, but I'm willing to bet this guy does some absolutely insane things just to dodge taxes.

well, to be fair, most of his existence is business-related, and business expenses have always been tax deductible.

 

[mrplunkey]

well, to be fair, most of his existence is business-related, and business expenses have always been tax deductible.

I can relate. I'd say at least 85% of my travel and entertainment is tax deductible as well. It's like getting a 50% discount on everything.

 

[mrplunkey]

... and cell phone. And Internet connection... and home computers... and 5-axis thingy...

 

[SpyWizard]

and mileage, vacation trips/training, eating out 50%, even the screws i buy from home depot.. tax deductable

 

[digimon7068]

I can relate. I'd say at least 85% of my travel and entertainment is tax deductible as well. It's like getting a 50% discount on everything.

precisely...for example, i put about 20,000 miles a year on my car and about 2,000 of that is personal...and i'll bet i have more of a personal life than warren buffet.

 

[mrplunkey]

and mileage, vacation trips/training, eating out 50%, even the screws i buy from home depot.. tax deductable

I haven't gotten to the point where I bill vacations to Uncle Sam yet, but Barry will probably push me over that edge next year. His rhetoric makes me want to comb through every aspect of my life and figure out if I've missed sending part of the bill to him.

 

[digimon7068]

I haven't gotten to the point where I bill vacations to Uncle Sam yet, but Barry will probably push me over that edge next year. His rhetoric makes me want to comb through every aspect of my life and figure out if I've missed sending part of the bill to him.

just be aware of code section 274 when it comes to travel, where there is an element of recreation, particularly if family members (spouse, kids, etc.) will be traveling as well

 

[mrplunkey]

just be aware of code section 274 when it comes to travel, where there is an element of recreation, particularly if family members (spouse, kids, etc.) will be traveling as well

I remembered there was some glitch with recreational travel, but there's also a favorable caveat when you use a company plane.

I need a general refresher on all that anyway. Uncle Barry, this next trip may be compliments of you! TYIA.

 

[Mr. dB]

Perry apparently does have a huge pair. Throwing around the term “treasonous” is ballsy.

just sayin'

Perry stands by 'treasonous' comment on Bernanke - Aug. 16, 2011

Bush appointee, wasn't he???