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Life After Brown
How Much is Your Car Payment?
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<blockquote data-quote="Commercial Inside Release" data-source="post: 5594421" data-attributes="member: 93336"><p>They're siphoning company profits off, to pay for vehicles and put the depreciation on the company, through business deductions.</p><p></p><p>Back in the day, when the IRS was gung-ho about kicking individual households around, they might have followed him & wife around, audited his returns, and demanded a ledger that proves the miles\receipts were actually for business.</p><p></p><p>It's a good idea, but like right club, you shouldn't talk about it.</p><p></p><p>But, from a practical standpoint, the money\depreciation written off is coming out of the company's bottom line, so it isn't truly saving anything. On the other hand one or two lazy employees can cost you far more, as can a customer that doesn't pay and requires court action... So, it's just money. There are a lot of potential advantages to having your own business.</p></blockquote><p></p>
[QUOTE="Commercial Inside Release, post: 5594421, member: 93336"] They're siphoning company profits off, to pay for vehicles and put the depreciation on the company, through business deductions. Back in the day, when the IRS was gung-ho about kicking individual households around, they might have followed him & wife around, audited his returns, and demanded a ledger that proves the miles\receipts were actually for business. It's a good idea, but like right club, you shouldn't talk about it. But, from a practical standpoint, the money\depreciation written off is coming out of the company's bottom line, so it isn't truly saving anything. On the other hand one or two lazy employees can cost you far more, as can a customer that doesn't pay and requires court action... So, it's just money. There are a lot of potential advantages to having your own business. [/QUOTE]
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