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Welfare extreme

Discussion in 'Off Topic' started by Grunwald, Dec 6, 2011.

  1. Grunwald

    Grunwald Out of that nut job colony of Seattle, WA Well-Known Member

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  2. sheepdip

    sheepdip Redland Well-Known Member

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    hey, maybe that woman with fifteen kids could move in with them! serves two purposes, gives the woman and her kids somewhere to go and punishes the aholes that have been riding the system:thumbup:
     
    mjbskwim and (deleted member) like this.
  3. sprocket3

    sprocket3 Oregon - Wet Side Member

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    I deal with people every day with my job and I'm amazed that after 10 years of doing this I still learn of some new special program every month. I always wanted to see a list of all the little programs. You would just be amazed at home many pet programs there are for people to take advantage of.
     
  4. pokerace

    pokerace Newberg Well-Known Member

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    tell us TELL US...
     
  5. Sabertooth

    Sabertooth Josephine County Active Member

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    Introduction the Corporations. Form a corporation. All your income goes into the corp. Your home, Jag and every thing else is owned by the corp.
    You have no income. Your personel tax return shows no income. Your corp. tax return shows the income. Two completely seperate tax returns.
    You appear on paper leaglly destatute. Flat broke and homeless.
    And its PERFECTLY LEAGAL.
     
  6. 2506

    2506 Seattle Well-Known Member

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    An activity is presumed to be engaged in "for profit" and not to be a hobby, if it is profitable in three out of five consecutive years. For a new business, this means that you don't have to show a profit for your first two years.

    Sabertooth, you're sort of right.
     
  7. Sabertooth

    Sabertooth Josephine County Active Member

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    2506 you are right.
    Except farming. You never get to make a profit. Its just a very expensive hobby. Then when you sell all the farm and all the equipment the IRS wants most of your money as capital gains taxes.
    My rant, back to the subject.