[Boatanchors] Electronic Goldmine parts

[Jbrannig at verizon.net]

I hear this all the time.
Somehow the American public thinks "write-off" confers some super tax event 
(without the ability to explain how)
An economic loss is an economic loss.  The ability to deduct it only lessens 
the loss by a small amount.

Jim

-----Original Message----- 
From: Nick England
Sent: Wednesday, March 05, 2014 12:06 PM
To: Boat Anchors List
Subject: Re: [Boatanchors] Electronic Goldmine parts

I keep hearing this, but can someone please tell me how to make money by 
"writing it off"? In Real Life that means you treat the actual cost of an 
obsolete item as an expense which reduces profit which reduces taxes. 
Meaning if you paid $5 for a widget and then throw it away, you save maybe 
$1.50 in taxes. But you still have spent $3.50 for the widget you threw 
away.

Note- what you can "write off" is the actual cost of the widget, not the 
$995 price you posted on eBay with no takers.

If you believe otherwise, please "write off" a box full of $20 bills and 
send them to me...I'll be happy to pay postage even if you don't use a flat 
rate box.
Cheers,
Nick K4NYW

> On 3/5/2014 11:06 AM, Pete Lancashire wrote:
>>  The seller could care less if you buy them or not, and by the end of the 
>> year they can throw them out
>> and write them off .. see .. they saved money at the end of the quarter, 
>> give that accountant a raise !!!!
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