[Boatanchors] Electronic Goldmine parts

[Brian Carling]

That is how Gen. electric pays no taxes. I'm sure most other corporations have a lot of similar tricks.

Best regards - Bry Carling



> On Mar 5, 2014, at 2:30 PM, Pete Lancashire <pete at petelancashire.com> wrote:
> 
> Nick you need to get a MBA :-)  It is all a game to reduce corporate taxes.
> 
> One trick to use is the 'cost' of maintaining inventory. You can play a
> trick by saying it is costing you $100/qtr to have the widget  on the
> shelf. By disposing of the widget you have 'saved' $400 a year.
> 
> Another trick is you can say your widget is has a comparable market value
> by showing what others say it is worth. In the days before Ebay/Internet.
> You could get away with using a Tucker catalog.
> 
> Since Tucker (then one of the largest T&M rental/lease companies) has that
> the rental fee on that  HP 200A/B for $100/month or you can buy it from the
> for $2,000. You put your 200A/B up for sale
> for $2,000 and after no one buys it you toss it in the dumpster and put
> $2,000 on your spread sheet as a loss.
> 
> These tricks have become so much better over the years that a lot of the
> big boys just scrap everything. In the Pacific NW a good example is Boeing
> in Seattle.
> 
> sigh ..... -pete
> 
> 
>> On Wed, Mar 5, 2014 at 9:06 AM, Nick England <navy.radio at gmail.com> wrote:
>> 
>> 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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