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The IRS has catch all language written into the code. Summarizing here but it states if the primary purpose of the activity is the avoidance of tax then it cannot be classified as an active trade or business. You have to meet certain tests to support the position. The end result would be income is taxable and expenses are disallowed...
I agree many CPAs error on the side of being conservative and I find many business owners are overpaying. We have an obligation via circular 230 and our professional ethics to never knowing file a false tax return however areas that are open to interpretation are different and if you have a reasonable basis to make the claim and understand...

MPJC Liked a reply to forum topic Starting an LLC for tax purposes/ writing off the moto

3/23/2025 6:07am
A voice of reason. How refreshing.
This forum topic has 111 replies.
Yes SE tax(15.3%) in addition to the tax on ordinary income is a downside. In the proposed scenario the sponsored kid would have very little allowable expenses to offset his income. To be more clear, racing is a hobby and you can’t take direct expenses but would need to claim the income. It’s nice trap created by the tax code...
I don’t like amending without a compelling reason. It reopens the statute of limitations and sometimes it is better to let sleeping dogs lie. If you had legitimate expenses, the only appropriate action is to take them. In my opinion there is no increase to your audit risk and if they are legit what is the downside? You could make...
I am a CPA and the focus of my practice is helping successful business owners mitigate their tax liability. There is a lot of bad info in this thread but who is surprised! It reminds me of the “tax advice” on TikTok. The main issue with the proposed strategy is it would create income for your kid subject to self...
Chinese companies are constantly stealing the designs from the products other companies have them make. Or Steal in other ways. And the government helps them. Top Gear had a review of a knock off BMW SUV made in China that looked identical other than badging . BMW tried to sue and the courts in China said the SUV looked nothing like the BMW and sided with the Chinese company. Look at all of the Scott,Fox Astars,Thor, Fly, 100%, etc. that You can buy from china that are really good knock offs. Or are they the real things , just being...
This forum topic has 85 replies.
You can get a new 23’ GG MC250 for $6,499 OTD, there is no reason to buy this commie junk
This forum topic has 85 replies.
Fuck China x5. Yeah I have Chinese crap, mobile phone, occasional spring rolls, etc... I don't buy any more from them than I absolutely have to, where there is a feasible alternative I will buy it. The US is getting the shaft from the Chinese even worse than we are in Europe. Even just the Chinese government sanctioned Fentanyl flooding your country ought to be enough reason and that's a drop on the ocean and one of their hundred angles on you. Glad to see more people acknowledging the threat. I did my best not to post in here, I'm...
This forum topic has 85 replies.
Damn, are you being paid by a Chinese owned company or something? I am a strong believer that if we do not change course soon and get off of the cheap China made tit that we a truly screwed. Now, with every mom & dad convinced that little Johnny should go get a degree for Flower blooming meditation from some woke university instead of a good trade school or a blue collar on the job training we will be the land of the incompetent idiots,...... scratch that we are pretty much already there. I mean just look at 60% of...
This forum topic has 85 replies.
Exactly... Peter does agree. At the risk of posting something and being called "arrogant" (or maybe he meant educated with practical knowledge and aware? I maybe confused), there is a shift to moving mfg ing back to the US. Clearly for national security it's the right thing to do. Having the high end chips the USA uses for defense and the high end products mfg'ed at TSMC in Taiwan with no US based second source.... it's a BAD idea! Not to mention a host of other things. Let the hate begin... fire away! LOL
This forum topic has 85 replies.
It’s unfortunately impossible not to, but I do go out of my way not to buy Chinese made items whenever I can. If you knew how truly bad the CCP is and their intentions towards us and the globe as a whole, you would do the same as well. I can assure you it’s much worse than the media lets off.
This forum topic has 85 replies.
I would rather my 2 year old not have to live her adult life in a world with China as the world superpower, because we’ve been addicted to their cheaply made garbage since 1972. But that’s just me.
This forum topic has 85 replies.

allna6 Started a new thread Motorcycle Docuseries

6/28/2023 9:43am
Hey I wanted to share a docuseries a friend o mine is making. I think he said he is going to put out 1 video a week so if you like it, it would be worth it to subscribe
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jonesaustin Liked a reply to forum topic Forkner

12/25/2022 9:12am
Content cannot be rendered.
This forum topic has 255 replies.

Black Diesel Bomber Liked a reply to forum topic Stolen suspension, LOCATED but need help

12/16/2022 2:31pm
Man, I hope the buyer sees this or hears of this and comes clean and returns these to you for what he paid for them. This might be the best chance of you getting them back. Because most likely no matter what you do or who you call, the police will likely not get involved unless someone has been killed. Thanks to our lovely environment here in CA, created by the majority if you know what I mean.... My friend had the exact same situation for 10K worth of camera gear, police wouldn't do shit. I had 8K worth of...
This forum topic has 84 replies.

TeamGreen Liked a reply to forum topic Hannah on WTS

11/14/2022 4:15pm
And, yet… You embarrass them by not being able to embrace the freedom and tolerance they fought for. If the term “Jap’s” puts you on your heels? Well, I think Magoo’s thoughtfully posted “Cry Closet” really does apply to you.
This forum topic has 232 replies.

Dirt.Squirt Liked a reply to forum topic Hannah on WTS

11/14/2022 4:09pm
This may be wild speculation but I would be willing to bet your own father called them peoples that bombed us in Hawaii a lot worse things than “japs” Dry
This forum topic has 232 replies.

vetmxr Liked a reply to forum topic Hannah on WTS

11/14/2022 4:07pm
I love Hannah and his stories....stop putting stupid labels on older men so that you can feel like some goody goody i'm so enlightened person.....I get it , snowflakes good......normal dudes....bad.....If your conscience won't let you listen to an alpha male talk like most normal men talk.....then you should locate whatever safe space your comfortable with and hide away from the bad men...Jeez. Flame on oh enlightened ones..
This forum topic has 232 replies.