Page 5 of 9 FirstFirst ... 34567 ... LastLast
Results 41 to 50 of 82

Thread: Obama to introduce another business tax cut

  1. #41
    Girthless
    RightinNYC's Avatar
    Join Date
    Mar 2005
    Location
    New York, NY
    Last Seen
    01-23-11 @ 11:56 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    25,894

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by apdst View Post
    There is no standard timeline for equipment depreciation. Equipment can be depriciated for a maximum of 6 years. But, equipment can be fully depreciated for 1 year.
    I don't think this is true. You can't just say "oh, I'm going to fully depreciate this car in one year." Many things have specified depreciation schedules:

    MACRS - Wikipedia, the free encyclopedia

    Under MACRS a taxpayer must compute tax deductions for depreciation of [[tangible property] using specified lives and methods. Assets are divided into classes by type of asset or by business in which the asset is used. (See tables of classes below.) Where a general class based on the nature of the asset applies (00.xx classes below), that class takes precedence over the use class.

    For each class, three lives are specified: one for regular depreciation (GDS in the tables below), one for the alternative depreciation system (ADS), and a class life. Taxpayers may be required to use ADS or otherwise may elect which of the three lives to use. Lives for personal property vary from 3 years to 20 years.
    There's a table in the link.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  2. #42
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:46 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,317

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by Cole View Post
    That's news to me. You may be confusing a tax deduction with a tax credit. (waaaay big difference....)


    .
    True dat! Which is what makes this even more of a joke, since not all businesses will qualify for this earth shattering, "tax cut". Which, BTW, this is far from being a tax, "cut". The Messiah is playing on the stupidtiy of his followers.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  3. #43
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Today @ 12:57 AM
    Gender
    Lean
    Undisclosed
    Posts
    51,741

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by apdst View Post
    True dat! Which is what makes this even more of a joke, since not all businesses will qualify for this earth shattering, "tax cut". Which, BTW, this is far from being a tax, "cut". The Messiah is playing on the stupidtiy of his followers.
    So, describe to me why a tex credit is a bad thing while a tax cut is a good thing, assuming equal dollar amounts, and how a $50,000 tax credit will affect my business differently than a $50,000 tax cut.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

  4. #44
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:46 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,317

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by RightinNYC View Post
    I don't think this is true. You can't just say "oh, I'm going to fully depreciate this car in one year." Many things have specified depreciation schedules:

    MACRS - Wikipedia, the free encyclopedia



    There's a table in the link.
    A business can depreiciate a piece of equipment anywhere from 1 to 6 years.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  5. #45
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:46 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,317

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by Deuce View Post
    So, describe to me why a tex credit is a bad thing while a tax cut is a good thing.
    A tax, "cut", applies to all businesses. A tax credit only applies to businesses that qualify for that particular tax credit. You're smarte than me, so you should already know this.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  6. #46
    Girthless
    RightinNYC's Avatar
    Join Date
    Mar 2005
    Location
    New York, NY
    Last Seen
    01-23-11 @ 11:56 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    25,894

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by apdst View Post
    A business can depreiciate a piece of equipment anywhere from 1 to 6 years.
    The IRS disagrees.

    Publication 946 (2009), How To Depreciate Property

    Again, if a piece of equipment does not lose its value for 5 years, you cannot pretend that it depreciated entirely in one year for your taxes. This proposal would temporarily allow that.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  7. #47
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:46 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,317

    Re: Obama to introduce another business tax cut

    Quote Originally Posted by RightinNYC View Post
    The IRS disagrees.

    Publication 946 (2009), How To Depreciate Property

    Again, if a piece of equipment does not lose its value for 5 years, you cannot pretend that it depreciated entirely in one year for your taxes. This proposal would temporarily allow that.
    You're not understanding what I'm telling you. You have a maximum of 6 years to depreciate property. There's no tax law that says that you can't depreciate all six years, in one years, which means that after you depreciate the piece of equipment in that one year, you have used up your entire depreciation. In short, you can fully depreciate the value in 1 year, or spread it out over 2-6 years.

    let's go back to my original post on this subject.

    If I buy this trailer



    I can either write off this cash pucrchase the first year, or, I can write off the interest paid on the loan to buy this trailer, then depreciate the value of the trailer for 1-6 years.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  8. #48
    Girthless
    RightinNYC's Avatar
    Join Date
    Mar 2005
    Location
    New York, NY
    Last Seen
    01-23-11 @ 11:56 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    25,894

    Re: Obama to introhttp://www.debatepolitics.com/newreplyduce another business tax cut

    Quote Originally Posted by apdst View Post
    You're not understanding what I'm telling you. You have a maximum of 6 years to depreciate property. There's no tax law that says that you can't depreciate all six years, in one years, which means that after you depreciate the piece of equipment in that one year, you have used up your entire depreciation. In short, you can fully depreciate the value in 1 year, or spread it out over 2-6 years.
    Gregory Mankiw, Harvard Econ professor

    The Obama administration is now proposing that businesses be allowed to expense investment expenditures. That is, for purposes of calculating taxable income, businesses would be able to fully and immediately deduct the cost of equipment, rather than having to gradually deduct the cost via depreciation allowances.
    Greg Mankiw's Blog: A Small Step in the Right Direction

    Wall Street Journal:

    Executives said the Obama administration's proposed new tax breaks might accelerate some investment plans. But they also said the move would do little to boost demand longer-term for companies suffering from overcapacity.

    The government hopes to spur business spending with a proposal to allow companies to write off 100% of new investments in plants and equipment in the first year, rather than over three to 20 years. The tax break would extend through 2011.
    Executives See Limited Benefit From Tax Break - WSJ.com

    Another article from WSJ:

    President Barack Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to more quickly write off 100% of their new investment in plants and equipment through 2011.

    ...

    Companies can now deduct new investment expenses, but over a longer period of time—three to 20 years. The proposed change, which would let companies keep more cash now, is meant to give companies who may be hesitant to invest an incentive to expand, acting as a spur to the overall economy.
    Obama to Push Tax Break for Business Investment - WSJ.com

    The Atlantic:

    First, how will it work? The measure is actually similar to one enacted during the Bush administration. It allowed firms to immediately depreciate 50% of certain capital investments, through 2009. Obama's plan is more aggressive. It would allow 100% write-offs through 2011, retroactive to its announcement this week.

    The logistics boil down to favorable accounting treatment. If a company buys some piece of equipment, usually it depreciates that equipment over some amount of time. For example, imagine if UPS depreciated its delivery trucks over five years. That allows the company to spread the vehicles' cost over that time period, while it uses them, instead of declaring it all at once. Then, the profit it makes is more evenly associated with the toll (or expense) its deliveries take on its trucks.
    Will Obama's Capital Investment Write-Off Plan Help? - Business - The Atlantic

    You're telling me that rather than listen to these people, I should take the word of someone who's repeatedly had "disagreements" with the IRS over how to properly calculate taxes?
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  9. #49
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:46 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,317

    Re: Obama to introhttp://www.debatepolitics.com/newreplyduce another business tax cut

    Quote Originally Posted by RightinNYC View Post
    Gregory Mankiw, Harvard Econ professor



    Greg Mankiw's Blog: A Small Step in the Right Direction

    Wall Street Journal:



    Executives See Limited Benefit From Tax Break - WSJ.com

    Another article from WSJ:



    Obama to Push Tax Break for Business Investment - WSJ.com

    The Atlantic:



    Will Obama's Capital Investment Write-Off Plan Help? - Business - The Atlantic

    You're telling me that rather than listen to these people, I should take the word of someone who's repeatedly had "disagreements" with the IRS over how to properly calculate taxes?
    I'm talking as someone who actually owns and operates an actual business that has never had a disagreement with the IRS about how to depreciate equipment.

    Now, if you wish to continue to misinterpret the tax laws, that's your business, but I'm telling you what I know from personal experience. How many businesses have you operated? Any? If you have, please, fill us in on your personal experience.

    Ultimately, what I am saying, is that giving a tax break/credit/cut to businesses for equipment purchases is a waste, since businesses have noe reason to purchase new equipment, since there is no need, because of a lack of new revenue. Whatcha' wanna bet that there's language in the law that prohibits crediting, "replacement", equipment? "New", equipment and, "replacement", equipment are two different animals.
    Last edited by apdst; 09-08-10 at 12:45 AM.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  10. #50
    Advisor BCR's Avatar
    Join Date
    Jun 2010
    Location
    Heart of Dixie
    Last Seen
    12-06-13 @ 04:21 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    598

    Re: Obama to introhttp://www.debatepolitics.com/newreplyduce another business tax cut

    I think I'll take the Harvard economy professors word over yours apdst.
    I use a lot of satire and sarcasm so keep that in mind when reading my posts.

Page 5 of 9 FirstFirst ... 34567 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •