Ummm, no. This in no way implies a "double set of books". Where on earth did you get that idea? It's straightforward accounting. The "profit" total goes on my Schedule C no matter from where I derive it. It may be that creating a "surcharge" to the client for mileage is a questionable business practice, but it is no way illegal. Paul In a message dated 4/7/2009 9:25:52 P.M. Central Daylight Time, dahechler at att.net writes: Fine, you want to keep a double set of books - more power to ya - not fur me ! _PAULREVENKOJONES at aol.com_ (mailto:PAULREVENKOJONES at aol.com) wrote: In a message dated 4/7/2009 8:12:21 P.M. Central Daylight Time, _dahechler at att.net_ (mailto:dahechler at att.net) writes: Assuming you report it a 55 cents a mile - that's $3.50 profit, right ? Right. Wrong, that now, becomes taxable income. No, still right. It's taxable, but there is still profit, just not as much. Did you really come out ahead ? It all depends on your tax rate ? No it doesn't. You still come out ahead, just not by as much as the untaxed profit. There is no 100% tax bracket. I'd stick to whats "legal" When did it become illegal to make a profit? Paul ____________________________________ A Good Credit Score is 700 or Above. _See yours in just 2 easy steps!_ (http://pr.atwola.com/promoclk/100126575x1221421323x1201417385/aol?redir=http://www. freecreditreport.com/pm/default.aspx?sc=668072&hmpgID=62&bcd=AprilfooterNO62) -- Duaine Hechler Piano, Player Piano, Pump Organ Tuning, Servicing & Rebuilding Reed Organ Society Member Florissant, MO 63034 (314) 838-5587 _dahechler at att.net_ (mailto:dahechler at att.net) _www.hechlerpianoandorgan.com_ (http://www.hechlerpianoandorgan.com/) -- Home & Business user of Linux - 10 years **************A Good Credit Score is 700 or Above. See yours in just 2 easy steps! (http://pr.atwola.com/promoclk/100126575x1221421323x1201417385/aol?redir=http:%2F%2Fwww.freecreditreport.com%2Fpm%2Fdefault.aspx%3Fsc%3D668072%26hmpgID %3D62%26bcd%3DAprilfooterNO62) -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://ptg.org/pipermail/pianotech_ptg.org/attachments/20090407/61a72466/attachment.html>
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