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To: Free ThinkerNY
That's an accounting principle.

How do you ban that?

Might as well ban gravity.

21 posted on 09/06/2012 12:20:40 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: elkfersupper
Used to work for 2 brothers years ago who owned a small business, Marve 25 employees and they would would draw each month an expense check for about $5000, run ALL household repairs through the business with billing supplied by contractors well known to them showing work done on business. They each had a car paid for by the company, gasoline credit cards, etc. and at the end of the year after all the bills were paid they would each take 50% of what was left as a bonus, usually something over one million dollars each.

The company never showed a profit on paper and the brothers claimed the money they took as income and paid a lower rate than what the corporate rate was at the time.

26 posted on 09/06/2012 12:33:49 PM PDT by Lacey2
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