[HUG ] SV: Re: SV: Re: SV: Re: On the subject of equipement cost

Richard,

It might sound impressive, but is only 186 hectares bought for a song when 
Russia flooded Europe with cheap timber.  - And really, the purpose of the 
purchase was to get control of our summer house neighbourhood, not to do 
business as such.  President Putin, - I ought to send him a christmas card, 
then implemented a hefty export fee on their timber exports, doubling timber 
prices.  It has turned out to be a very good investment.

Much more important:  It is a very beautiful, picturesque and unique place 
where bears, wolves and lynx are regularly roaming.  And moose and deer.  It is 
situated 170 km right east of Oslo, (about 59.55.00 N - 12.50.18 E) on top of a 
hill overlooking a small lake called Borsjøen.  Deep in the forest are a 
desolate farm from the 16th century.  The last who lived there emigrated to 
America back in the 30'.  One of them fell at some island in the Pacific during 
WWII.

We are going over there this weekend to pick up the meat from the moose hunt.  
- We don't hunt ourselves, but get our share of the proceeds from the annual 
hunt.
 
Tom of Oslo

> From: Richard Schiff [leicaman@xxxxxxx]
> Sent: 2008-10-16 21:22:10 CEST
> To: hasselblad@xxxxxxxxxxxxx
> Subject: [HUG ] Re: SV: Re: SV: Re: On the subject of equipement  cost
> 
> Tom,
>  
> If you own a forest... who cares about deductions!
> 
> 
> 
> > Date: Thu, 16 Oct 2008 20:42:30 +0200> From: tjols@xxxxxxxxx> To: 
> > hasselblad@xxxxxxxxxxxxx> Subject: [HUG ] SV: Re: SV: Re: On the subject of 
> > equipement cost> > Sure, this is very similar as over here. But here in 
> > Norway I am only an ordinary employee with no possibility to deduct any 
> > 'hobby expenses' from my income. > > But my wife and I own a forest estate 
> > in Sweden. This is reckoned as a 'business' according to Swedish tax rules. 
> > We have to make a tax declaration every year, declare income, deduct 
> > expenses, VAT paid and VAT charged. We have a depreciation plan where we 
> > depreciate any large investments done during the year, like machinery, 
> > tools, protective clothes, roads or plantings - and pay 32% tax on any 
> > profit. Running a forest estate like this is indeed a tax planning 
> > exercise. But sorry, no photo equipment can be deducted. And there is no 
> > discussion! Swedish tax authorities are very strict and the rules are very 
> > specific; it got to be very 'forest industry related'. > > Tom of Oslo> > > 
> > From: Gary Todoroff [datamaster@xxxxxxxxxxxxxxxxxxxx]> > Sent: 2008-10-16 
> > 04:55:19 CEST> > To: hasselblad@xxxxxxxxxxxxx> > Subject: [HUG ] Re: SV: 
> > Re: On the subject of equipement cost> > > > You are in business in the US 
> > if you engage in financial activity > > with the intent to make a profit. 
> > The same rules apply whether you > > are a multi-million dollar company or 
> > an individual who loses money > > most of the time. The IRS "guidelines" 
> > stipulate that you should show > > a profit for some years, but I don't 
> > know what is the exact number of > > years. Tax LAW, last I heard, did not 
> > specify that you had to always > > make a profit, although numerous years 
> > of losses could trigger an IRS > > audit. In any case, the tax laws were 
> > made for the big guys, but the > > little guys get to play by the same 
> > rules. There is absolutely > > nothing shady about taking whatever 
> > deductions you are entitled to by > > the rules, as long as you are not 
> > fraudulent in your declaration of > > income and expense. That is the 
> > difference between tax AVOIDANCE and > > tax EVASION.> > > > What I really 
> > hate is the smug attitude of someone who has always > > collected a 
> > paycheck who says to the businessman, "Can't you just > > write it off?" 
> > That is money out of your pocket, no matter what the > > expense. A 
> > write-off is money spent, plain and simple. If you can > > justify it as a 
> > business expense, however, some or all of it can be > > deducted from the 
> > profit of your business on which taxes are paid. An > > expense as large as 
> > the stratospheric cost of a Hassleblad these days > > would probably need 
> > to be put on a deduction schedule, in which you > > can only show a portion 
> > of the overall expense over a few years. In > > these digital days, you may 
> > not be able to actually deduct all the > > equipment expense from your 
> > profit until long after the equipment is obsolete.> > > > In any case, I'm 
> > neither a lawyer nor an accountant. All the money I > > give those gusy to 
> > keep up with the insane rules, however, is a > > business tax "write-off", 
> > and an absurd waste of money that I would > > much rather keep in my 
> > pocket!! If you are not filing an IRS Schedule > > C these days showing 
> > profit and loss for some kind of business, then > > just kiss your paycheck 
> > money goodbye as it takes wings toward the > > bottomless pit called 
> > Washington, D.C.> > > > Gary Todoroff> > > > > > > > >>In the USA, You must 
> > be trying to run a business.... with verifiable> > >>"things" that you do 
> > to maintain a business.... Then and only then can you> > >>deduct your 
> > costs.... and yes, from your other income if it is a loss.> > >>> > 
> > >>Buying a $75K Hasselblad or Leica S2 system, taking it off the taxes and> 
> > > >>then doing absolutely nothing to actually run a business ( real> > 
> > >>advertising, some jobs, maybe a few customer meetings) will get your> > 
> > >>deduction dumped if you get audited.> > >>> > >>The trick it to run the 
> > business at a zero, or, better yet, $1 profit a> > >>year.... and then run 
> > it forever...... Then you can buy a $75 Blad system> > >>and they can not 
> > complain...... as long as you can show you used the> > >>equipment in 
> > earning the revenue.......> > >>> > >>I think our Tax guys are more 
> > intolerant.........than the Canadians......> > >>> > >>> > >>Frank 
> > Filippone> > >>red735i@xxxxxxxxxxxxx> > > > > > 
> > =============================================================================================================>
> >  > To unsubscribe from this list, go to www.freelists.org and logon to your 
> > account (the same e-mail address and password you set-up when you 
> > subscribed,) and unsubscribe from there.> >

Other related posts: