Jackal01
New member
Whatever you say, broham. :thumb:
I'm still liquid for 100k smartass
- Thread starter Vettethret
- Start date
Whatever you say, broham. :thumb:
xflstl
New member
Reading comprehension, does this mean anything to you? Where did I state that I lied or cheated.
If there is a deduction that you can use, to pay less taxes do so... duh common sense.
jims68
New member
I think what he is say here, correct me if I'm wrong, is if you knowingly take bad or false deductions is no different then screwing your customer, friend, neighbor or anyone else. Just because Joe does it doesn't make it right for you to do it. Yes we have corruption all over, some even written into law to make it seem moral but if we don't change our ways or put our foot down what makes us any different then how Russia is run right now or Cuba! I am not trying to push judgment here that is up to yourself. I'm just saying do unto others as you would do to yourself. I don't like being screwed so I will not intentionally screw anyone either! If its legal hey go for it! But I'm not headed to Denver to go smoke any dope either but its legal!
MR.Ty
Token East Coast Guy
If you think it is so corrupt, what have you done to change it? Other than justify tax fraud?
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GCM 2
New member
Winner, winner, chicken dinner! Some of us do share your ethics and morals
xflstl
New member
Agreed........
xflstl
New member
When did I justify tax fraud.
However the way our tax system is setup its pretty much run fraudulent from the get go.
SmokinV10
Caught the Bug
The way I read this is that IF this is legal, then deduct it. I am 100000% in agreement that we have corrupt politicians who give our hard earned tax dollars to causes that are unconstitutional entitlements to the lazy. So if the ops statement is to pay only want is owed and not a dollar more, I am for it. The issue here is that the OP of this thread doesn't seem to be following the law. Not a single one of us can deduct 100% of a leased vehicle unless it is 100% utilized by the business. Compound that issue with mods and you have a shady area. (on an unrelated note, what I don't understand is how Realtors can legally deduct most of a $2K lease payment on a $100K Benz, but then again I am not a CPA and I don't know the limitations on those types of deductions in our tax code.)
As far as basic financial sense, WHY would you put $5K down on a lease? The initial "security deposit" on a lease is a bullshit charge that most can get out of. The rest is first month's payment (not always needed) and the rest is a Capitalized Cost Reduction. Basically you are putting an ass load down to reduce your payment. ASSUMING that this is a 36 mo lease, that $5K equates to roughly $200 a month. So for everyone's edification, this is roughly a $950 a month payment which would be close to the full boat 60 month payment term on purchasing a new Rubi X. Sure $12K is part of that but it seems that you have a LOW residual and you only have basic bank leasing terms. That doesn't seem like the best deal in the world. WHY Would you put that much money down on a lease? WHY would you finance...eerrr...LEASE all those mods on a car you have to give back? The economics on this don't make sense. There are times where leasing a rig is less expensive or makes more financial sense than purchasing. The ONLY cases for those are when the manufacturer artificially inflates the residual of the vehicle and drops the money factor so you get a near 0% interest rate and are making lease payments on a portion of a vehicle that outpaces depreciation. Your scenario doesn't make any sense. We all know that Jeep isn't doing any manufacturer sponsored lease incentives on Rubi X's. I don't know of any bank that is going to give you a great lease rate on your mods. I can only make sense of this for someone who is "frontin" or "living beyond your means".
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MR.Ty
Token East Coast Guy
I apologize for the fraud comment. It was uncalled for and detracts from the first question.
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Irish JK
Caught the Bug
This :clap2:
Payment wise, yes this math doesn't add up at all. Especially on this type of vehicle that he intends to put mods into. Especially when you could walk into a dealer right now, get a '14 at near invoice with $0 down with 72 month financing at less than 2% (with good history).
Been out of town with limited internet access so I'm just catching up with this now. You're right, I'm moving it now.
olram30
Not That Kind of Engineer
Lol, I was wondering why it wasn't letting me.
Oregonjeeper
New member
:drinks:
op2: all i can say is wow..:thumb:
op2: all i can say is wow..:thumb:
Sharkey
Word Ninja
Have you ever stopped to consider that one of the reasons the government keeps looking for new ways to tax us is, in large part, due to the number of tax dollars lost from individuals and corporations gaming the system by finding "deductions" and calculating "income" in ways which are not intended by the tax code? Our tax code is volumes upon volumes...not be because it needs to be, but because more and more language has to be created to counteract loophole hunters. (Have you ever actually written legislation? I have. It's not easy, and it is damn near impossible to write something in a concise manner that covers every possible scenario when individuals and corporations actively seek to evade the law.)
In the end, it's your choice how to live your life. Just remember that integrity is damn near the only thing in this world that cannot be taken from you; you must actively choose to give it up.
Oregonjeeper
New member
Dont forget "hold back".. invoice isnt really the cost of rig to the dealership... There is "Hold Back" and there is sales goals from the factory which if you meet them . They cut your dealership a check..Then there is selling the paper to the bank..So a dealership can sell all the rigs on the lot at "invoice" and still make a killing on the Rig... The car game is crazy..
JRoc
New member
I call bullshit!
This guy is a dumbass who's intelligence at this point is being based upon his posts. He probably lives in his mommy and daddy's basement and doesn't have 5K in his account to put down if he wanted to. But, let's say for a second that he could...first of all, even someone with absolutely perfect credit couldn't roll $12,000 into a lease on a Rubi. Max advance on a traditional lease is 125%. Let's say his $4,000 discount is applied and his sales price is $38,000 + tag costs, approriated fees and taxes on the fees and first payment... $47,500 would be the absolute money he could lease. HOWEVER, accessories are not residualized in a lease. Meaning, he would have a base payment of $600 (approximately, based on credit worthiness and current residuals and money factor based on the manufacturer incentives.) According to this asshole he is being alloted $12,000 financeable budget. $12,000/2yr is another $500 per month. He's now up to $1,100 monthly payment, again, if this were even possible. $5,000 down, if he had it, would only be applied toward the $12,000 financeable budget as this is what the bank likes the least. This leaves $7,000 of non-residualized costs rolled into his lease. $291.67 would be stacked on to his $600 base payment. Then, you have tax on the payment, because in a lease you only pay taxes on what you use, therefore there is a sales tax per payment. Sales tax here in FL is 7% so I will use this... grand total payment of $954.09.
However, I could be way off...I'm just a fucking idiot like the rest of these guys...who also happens to be a Finance and Insurance Manager!
As far as this motherfucker's moral compass goes, he obviously doen't have one so he's probably a democrat...which if you watch the news...don't get targeted by the IRS, so he's probably in the clear there. As funny as it would be to see some IRS agents send a task force to pull this sorry son of a bitch out of his parents basement for tax fraud...probably won't happen.
Go crawl back to the shit hole you arose from and give your wife our condolences. No one should have to live with that much stupidity. Be careful to what you say to people on this forum, if you manage to pull your pathetic ass onto a trail, it will probably be someone on this forum that will have the decency to pull you out of whatever situation you got yourself stuck in/on. For now, there is no hope for you my friend. By the way, if you ever do find yourself making a modest salary, keep it modest. Money doesn't buy class, not that a hundred grand would buy you much of that anyway...
:asshat:
This guy is a dumbass who's intelligence at this point is being based upon his posts. He probably lives in his mommy and daddy's basement and doesn't have 5K in his account to put down if he wanted to. But, let's say for a second that he could...first of all, even someone with absolutely perfect credit couldn't roll $12,000 into a lease on a Rubi. Max advance on a traditional lease is 125%. Let's say his $4,000 discount is applied and his sales price is $38,000 + tag costs, approriated fees and taxes on the fees and first payment... $47,500 would be the absolute money he could lease. HOWEVER, accessories are not residualized in a lease. Meaning, he would have a base payment of $600 (approximately, based on credit worthiness and current residuals and money factor based on the manufacturer incentives.) According to this asshole he is being alloted $12,000 financeable budget. $12,000/2yr is another $500 per month. He's now up to $1,100 monthly payment, again, if this were even possible. $5,000 down, if he had it, would only be applied toward the $12,000 financeable budget as this is what the bank likes the least. This leaves $7,000 of non-residualized costs rolled into his lease. $291.67 would be stacked on to his $600 base payment. Then, you have tax on the payment, because in a lease you only pay taxes on what you use, therefore there is a sales tax per payment. Sales tax here in FL is 7% so I will use this... grand total payment of $954.09.
However, I could be way off...I'm just a fucking idiot like the rest of these guys...who also happens to be a Finance and Insurance Manager!
As far as this motherfucker's moral compass goes, he obviously doen't have one so he's probably a democrat...which if you watch the news...don't get targeted by the IRS, so he's probably in the clear there. As funny as it would be to see some IRS agents send a task force to pull this sorry son of a bitch out of his parents basement for tax fraud...probably won't happen.
Go crawl back to the shit hole you arose from and give your wife our condolences. No one should have to live with that much stupidity. Be careful to what you say to people on this forum, if you manage to pull your pathetic ass onto a trail, it will probably be someone on this forum that will have the decency to pull you out of whatever situation you got yourself stuck in/on. For now, there is no hope for you my friend. By the way, if you ever do find yourself making a modest salary, keep it modest. Money doesn't buy class, not that a hundred grand would buy you much of that anyway...
:asshat:
SmokinV10
Caught the Bug
I agree with most things said here, but there may be a fundamental difference in political ideology here. I don't trust the government or their intentions. The thousands of pages of tax code written by the government, reviewed by their team of tax attorneys have a duty to ensure that the tax code is written properly. It is not only written to protect from loopholes, it is also written to enable unfair taxation, wealth distribution, promote special interests, etc. It is not my job to determine the government's intent. In fact, if they give me a reason to take a deduction LEGALLY, I am going to take it. If the system was designed to work on "intent" then we shouldn't have thousands of pages of tax code but a flat tax for everyone that didn't have deductions. If the tax code was written along what our Founding Fathers intended, it would only be based on apportioned taxes rather than unapportioned taxes. If the government operated with INTEGRITY we would not be gaming the system to use the interstate commerce clause to ratify the Affordable Care act and we wouldn't be exponentially expanding the already evil 16th Amendment and the Revenue act of 1913 beyond what the progressive a-hole Woodrow Wilson did to the Constitution in 1913. With actions as egregious as these, how can anyone EVER guess the government's intent? Don't...just follow the law. My point is that it is one thing to blatantly lie about income tax. That is illegal and wrong. I personally don't see it as foul play, immoral or unethical to take a deduction ALLOWED by the law simply because the IRS didn't hire enough attorneys to make the law as air tight as it should be. Edit and clarification- I am not defending the OP by saying this. Just speaking about the whole concept of "government intent" and taxation. Basically if I went by intention I should just sign over my entire paycheck to Uncle Sam because this administration wants the IRS to punish hard working, constitution loving folks like me who go church and hang on to our guns. You're asking a conservative to believe that government is good.
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