I figured out complicated recaptures and depreciation for years before I incorporated all by myself. It ain't all that tricky, and with computers, it's just a matter of plugging in the numbers. I deprecreated rental properties, office equipment, and all sorts of things. Besides, with the increase in section 179, you can easily write off most of your expenses without worrying about depreciating it.
Depreciation depends upon the situations at hand. Whether you did it or not by hand is not the issue. Nor is the fact that the "computers just spit it out".
You probably would claim that your computers, your software and those operating same ain't any big cost either wouldn't you? Nothing costs too much to hinder your hype of the status quo, does it?
A suggestion - spend all of the zillions you think you have gained in profits under the IT system so you won't be tempted to invest it and make even more in untaxed income under the FairTax ... but watch out for that death tax should you cork off before the FairTax gets here - it's a killer!!
"I figured out complicated recaptures and depreciation for years before I incorporated all by myself. It ain't all that tricky, and with computers, it's just a matter of plugging in the numbers. I deprecreated rental properties, office equipment, and all sorts of things. Besides, with the increase in section 179, you can easily write off most of your expenses without worrying about depreciating it."
So for all those Americans who commented to the tax panel that we need simpler system, your answer is: forget it, the current system is as simple as it gets?
LOL. Good luck selling THAT ridiculous position.
Senator Mack: "With all the comments we recived from all over America, not one person said that the current system is just fine; leave it alone."
Why didn't you make your position known to the Tax Panel, AR? Afraid of being laughed at?