Quote:
Originally Posted by Minte
Unlike the government, I earn my money. The government only spends and mismanages your money.
Google - section 179 depreciation. The fountain was built and paid for in cash in fiscal 2013. Over the next 15 years, beginning in a year we will depreciate it. And that assumes we make a profit each and every year. So beginning in the year 2015 the government simply won't receive as much from me because I elected to invest that money into the economy.
The taxpayers contributed nothing to the fountain. They did contribute to the lighting. We already received the money from focus on energy.
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Since this seems to touch you too closely , I will take a new example : me ...
I had yesterday to replace a dishwasher in one of my rental units . Paid with vis at the store a Bosch unit .
I could have bought a unit 300.00 less , but I say that half of the unit is paid by the tax payers ( government ) .
Why ?
Because I will deduct that amount from my rental income , making the income less , so less tax .
My last $$ earned here are taxes at 47 % . So my unit of 500.00 cost from my pocket 265.00 and from the taxpayers 235.00
Your fountain is the same principle ( different numbers ) ... You had no direct subsidies, but you are getting a tax reduction as an expense.
Your lights ( which btw is great that you did it both for you and the society ) were subject to a direct credit . The part not subsidized will be a capitalized item, allowing to deduct from your income the yearly amortization .
Not sure why I wrote all this ... pointless probably .