Happy tax day???

[Casey]

Have you been following the news for the last few years?

You mean the same news outlets that have been covering the Boston bombings with such professional reserve & pinpoint accuracy?

All kidding aside, I respectfully disagree with those who say that financial institutions have been "sitting" upon money. That money is not stashed in a vault. It's circulating in the worldwide economy, flowing into businesses & into the hands of real people. Now you could say that the banks are making huge returns on their investments & I wouldn't argue with you. But these same "returns" are monies that are going right back out into the economy. A rising tide floats all boats.

People have to stop thinking of money as a stagnant, tangible commodity. It's fluid & it doesn't even have to exist. When it comes right down to it, it's all numbers on paper/screen.

I must confess to being influenced by a lengthly period of private practice in a rather depressed location in Massachusetts. I used to spend many hours at night, after the office had closed, trying to contact my patients to tell them of their lab results. I was amazed at how many of these folks had cell 'phone numbers that were no longer in operation. Being the country-bumpkin that I was, I finally asked a staff member why he thought this was the case. I was told that this was often used to avoid paying bills. Honestly, how many people these days do you think, when handed a wad of cash, would opt to buy something new or pay down a debt? My answer: I'm no longer a country-bumpkin.

[Casey]

One more thing...

As for the off-shore investments/avoid US taxes schemes I would say to the folks of all parties in Washington, DC: close this loophole.

Big problem, simple fix.

[Scott Bails]

One more thing...

As for the off-shore investments/avoid US taxes schemes I would say to the folks of all parties in Washington, DC: close this loophole.

Big problem, simple fix.

Completely agree with you here.

[Yanks2014]

You're screwing the government, but not legally. You're cheating on your taxes every bit as much as the person who fakes charitable donations or claims thousands of dollars of medical bills, since you still are legally required to pay the sales taxes on most of those items, under the Use Tax portion of your NY State tax return. You still owe the sales tax, despite it not being collected at the point of sale.

http://www.tax.ny.gov/pubs_and_bulls...ndividuals.htm

That's an insane way to think. No law was broken, it's no different than buying from an onlin vendor out of state. I love ordering from the Laser's Edge, but when I do, I pay NJ sales tax. I do it because they are a good vendor. But I love buying from out of state companies and avoid paying sales tax if I can help it.

You seem to make the assumption that it's the governments money to begin with. The less of my money they take from me, the better. Screwing the government? You make that sound like a bad thing.

[ronmac]

Screwing the government? You make that sound like a bad thing.

When assholes screw the government, who do you think pays for it?

[Duncan Glenday]

3

2

<sigh>...

[Scott Bails]

That's an insane way to think. No law was broken, it's no different than buying from an onlin vendor out of state.

Technically, you're supposed to pay "use tax." So, yes, you're breaking the law. That's the point of Facelift's post.

[ronmac]

Duncan, I don't think this has gotten political at all. Where's the partisan bickering?

[JKL2000]

That's an insane way to think. No law was broken, it's no different than buying from an onlin vendor out of state. I love ordering from the Laser's Edge, but when I do, I pay NJ sales tax. I do it because they are a good vendor. But I love buying from out of state companies and avoid paying sales tax if I can help it.

There was a thing on NPR about this earlier this week. I forget exactly, but I think it was that basically you ARE required to pay sales tax for online purchases, even if the seller is out of state from you. It's not enforced because so many people don't know about it, but that accountants and tax lawyers need to do it because of course they know about it and if they get audited they can't claim not to know.

[ronmac]

There was a thing on NPR about this earlier this week. I forget exactly, but I think it was that basically you ARE required to pay sales tax for online purchases, even if the seller is out of state from you. It's not enforced because so many people don't know about it, but that accountants and tax lawyers need to do it because of course they know about it and if they get audited they can't claim not to know.

That's all going to change soon enough. There are many state laws that conflict. I believe they're already working on a federal act.

[Facelift]

That's all going to change soon enough. There are many state laws that conflict. I believe they're already working on a federal act.

I actually think that Use taxes - for items physically purchased outside the borders of the state in question - should not be Constitutional, but that's a separate issue. The internet thing is a lot easier to understand - local businesses really do get hurt by people ordering everything online, and but for the online ordering, people would have to pay the sales tax.

[Yanks2014]

Technically, you're supposed to pay "use tax." So, yes, you're breaking the law. That's the point of Facelift's post.

That's nonsense. These days I hear the term "tax avoidance". Well yeah, of course, that's the whole idea! We are way off topic here though, guess this thread wont last much longer.

[Yanks2014]

When assholes screw the government, who do you think pays for it?

How is anyone screwing the government if they find legal ways to avoid paying taxes? Tax evasion is wrong, finding loopholes is just smart.

[Scott Bails]

That's nonsense. These days I hear the term "tax avoidance". Well yeah, of course, that's the whole idea! We are way off topic here though, guess this thread wont last much longer.

It's not nonsense at all. And what you're describing is "tax evasion," not "tax avoidance."


Here's an idea - just because you don't like it doesn't make it legal.

[Scott Bails]

How is anyone screwing the government if they find legal ways to avoid paying taxes? Tax evasion is wrong, finding loopholes is just smart.

IT'S NOT A LOOPHOLE!!!!

[Casey]

... and the screen door is closing in...

[ronmac]

How is anyone screwing the government if they find legal ways to avoid paying taxes? Tax evasion is wrong, finding loopholes is just smart.

Well, this guy seemingly endorsed screwing the government:

Screwing the government? You make that sound like a bad thing.

[Plasmatopia]

When assholes screw the government, who do you think pays for it?

The League of Altruistic Nice Guys?

[ronmac]

The League of Altruistic Nice Guys?

You mean... LANG??!!