This discussion has certainly gotten convoluted. David Love www.davidlovepianos.com From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf Of PAULREVENKOJONES at aol.com Sent: Tuesday, April 07, 2009 7:36 PM To: pianotech at ptg.org Subject: Re: [pianotech] Mileage charge 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 wrote: In a message dated 4/7/2009 8:12:21 P.M. Central Daylight Time, 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 <http://pr.atwola.com/promoclk/100126575x1221421323x1201417385/aol?redir=htt p:%2F%2Fwww.freecreditreport.com%2Fpm%2Fdefault.aspx%3Fsc%3D668072%26hmpgID% 3D62%26bcd%3DAprilfooterNO62> yours in just 2 easy steps! -- Duaine Hechler Piano, Player Piano, Pump Organ Tuning, Servicing & Rebuilding Reed Organ Society Member Florissant, MO 63034 (314) 838-5587 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 <http://pr.atwola.com/promoclk/100126575x1221421323x1201417385/aol?redir=htt p:%2F%2Fwww.freecreditreport.com%2Fpm%2Fdefault.aspx%3Fsc%3D668072%26hmpgID% 3D62%26bcd%3DAprilfooterNO62> yours in just 2 easy steps! -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://ptg.org/pipermail/pianotech_ptg.org/attachments/20090407/10e0f5d7/attachment-0001.html>
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