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  #13  
Old 09-12-2014, 10:11 AM
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Re: Save 5.5%-7% below invoice AND zero sales tax!

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Originally Posted by GCLimited View Post
Yep, I agree.

But unfortunately there're people in this country that feel tax laws are unfair...so because they feel the taxes are to high, they shouldn't be required to pay them.
There is nothing "unfortunate" about feeling that tax laws are unfair, as that is the truth. The fact that they are in unfair is unfortunate, but realizing that is most certainly not. Of course, the next step is correcting the tax laws and getting rid of the mass of excess government which has grown like a cancer.

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  #14  
Old 09-12-2014, 11:04 AM
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Re: Save 5.5%-7% below invoice AND zero sales tax!

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Originally Posted by GCLimited View Post
Yep, I agree.

But unfortunately there're people in this country that feel tax laws are unfair...so because they feel the taxes are to high, they shouldn't be required to pay them.

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Originally Posted by FStephenMasek View Post
There is nothing "unfortunate" about feeling that tax laws are unfair, as that is the truth. The fact that they are in unfair is unfortunate, but realizing that is most certainly not. Of course, the next step is correcting the tax laws and getting rid of the mass of excess government which has grown like a cancer.
i'd also throw in my 2 cents that unfair and too high are not necessarily one in the same. I have no issue at all paying what i pay- what peeves me is that people who manipulate the system or flat out lie to avoid things. My Wife and I take the deductions/credits we are allowed and pay whatever that means we own. Many others do not. I'm even alright if they grow up and finally raise taxes, along with cut spending, to balance the budget- I'll gladly pay more to fix things right- BUT it needs to be done fairly- dont saddle me with paying for 20 people that can also afford to pay but won't because they fit some cool kids category.

In recent past you could get an energy savings tax deduction/credit for putting on a white roof. I put on a new roof when that was current- the dark brown color mandated by my homeowners association. A neighbor of mine did his roof the same time- with the SAME dark brown color mandated. They wrote off the roof on their taxes, i did not. I assume they figured out -> How would the IRS know it's dark brown and not white without coming to look? They got away with it (its been past the 3 years they typically audit). That stuff pisses me off- they lied and cheated. That's just what one neighbor was dumb enough to let slip in a casual conversation- what else are people doing?

The people creating Montana business entities aren't lying or cheating, merely taking advantage of a legal loophole. Bad Karma perhaps, but not illegal.

I want to do the right thing so i won't lie or cheat, but it's tough to sit there when you know everyone else is saying they have white roofs and you are the only one doing the right thing.
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Old 09-12-2014, 12:12 PM
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Re: Save 5.5%-7% below invoice AND zero sales tax!

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Originally Posted by michaelk View Post
The people creating Montana business entities aren't lying or cheating, merely taking advantage of a legal loophole. Bad Karma perhaps, but not illegal.
I'm not so sure about that....most states have laws that should cover such game playing. Will see as I am sure this article in the Miami Herald will bring attention.

With respect to your brown roof neighbor...I'm sure that isn't the only thing on his tax return that is improper, eventually he'll win the audit lottery.

I was at an outdoor mall last year and some guy was on his phone with someone and he was going on and on about all the refundable tax credits he is claiming. If you don't know what a refundable tax credit is, you'll be shocked to find out it is a credit (not a deduction - huge difference as credits are a dollar per dollar credit against taxes owed whereas a deduction deducts from income and hence just a % of each deducted dollar reduces your taxes based on your tax bracket) and refundable means that you can get a "refund" from the IRS above anything you paid or had withheld in taxes.

For example, say you owed $2100 but paid in $2500 in withholding. You would normally just get a $400 refund. But with credits it is a further reduction dollar per dollar. Say you also had $1000 in regular tax credits that would mean even though you owed $2100 you end up really paying $1,100 as you will get that addition tax credit amount as a refund making your refund $1,400. But say you also qualified for the several REFUNDABLE tax credits that are available (and really not audited as they are "small") and the REFUNDABLE tax credits you claim are $5,000. Well, those REFUNDABLE tax credits don't just reduce your taxes to ZERO, nope they are REFUNDABLE meaning it is a form of government welfare that most people don't know about. So, instead of the $1,100 you would pay in taxes, your REFUNDABLE tax credit of $5,000 means the federal government will be PAYING you $3,900 and you pay ZERO tax. That's right, but simply claiming a REFUNDABLE tax credit on your return, a lot of people who pay ZERO federal income tax actually get THOUSANDS paid to them for filing a tax return (albeit many times fraudulent) as normally if you owe no tax or aren't claiming a refund from withheld taxes you just don't file, now you do and get paid thousands if you're willing to fill in a few lines to claim a REFUNDABLE tax credit - yes, people are now being PAID to file a tax return instead of filing one to pay their taxes. That is why there are all those tax prep stores in questionable areas. It is an open secret as these stores show people how to do it and they take there cut. REFUNDABLE tax credits (along with free cell phones and doubling of food stamps, etc.) have proliferated over the last 6 years. No joke. It is what it is no matter what political party you are aligned with. It is one thing to give assistance to people, it is another to have an open system that incentives people to do criminal acts while the "authorities" turn a blind eye and encourage it. People aren't getting audited for this stuff unless they do a blatant and stupid mistake on their return that otherwise attracts attention...it just isn't being checked and audited and it is an open secret which 95% of Americans would have no clue about.
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  #16  
Old 09-12-2014, 03:06 PM
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Re: Save 5.5%-7% below invoice AND zero sales tax!

As a wise accounting professor stated in my tax class in college many years ago, "There's a difference between tax evasion and tax avoidance". What they're doing in FL appears perfectly legal - therefore, FL needs to change their regulations/laws if they wish to stop this practice and close off that loophole.
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Old 09-12-2014, 03:12 PM
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Re: Save 5.5%-7% below invoice AND zero sales tax!

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Originally Posted by Northland View Post
As a wise accounting professor stated in my tax class in college many years ago, "There's a difference between tax evasion and tax avoidance". What they're doing in FL appears perfectly legal - therefore, FL needs to change their regulations/laws if they wish to stop this practice and close off that loophole.
Concur in part, descent in part.

Yep, need to tighten up the law drafting if need be, but this probably isn't an issue of needing new laws, probably just enforcing existing ones that haven't been brought attention before to investigate. Methinks the big news story will get the attention. People parroting "apparently it's legal" in the article doesn't mean it is. I'm all for not paying more than you are legally required to pay...
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Old 09-12-2014, 03:12 PM
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Re: Save 5.5%-7% below invoice AND zero sales tax!

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Originally Posted by AAAA View Post
Which jail term is longer- tax cheating or insurance fraud?
Isn't insurance fraud usually just a civil matter, not a criminal one?
You get sued, you probably loose, you expatriate to somewhere with no extradition, etc.

Or were you just being foreclosed and looking for a new home as you build up your finances?
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