All The Progress Made On Marijuana Legalization Could Vanish With A New President
- Thread starter H.M. Murdoch
- Start date
Abiqua
Well-Known Member
Actualy I think you can claim up to 12K for exempt.....at least,
Big Trees
Well-Known Member
As a shadow corp to cover up all those Asians sewing sneakers in a basement.
UncleBuck
Well-Known Member
Big Trees
Well-Known Member
Maybe as a Business. lol
Abiqua
Well-Known Member
yes and no, again, unless you know your way around Cayman Island trading, at some level of income that is proven, they will tax your ass, more if you are trying to get around it.
Abiqua
Well-Known Member
That's personal line item deduction and that was from 2009 or so, I am sure it has gone up a bit....
Abiqua
Well-Known Member
If you are claiming exempt on business expenses in your name, they can be claimed exempt and not as a business expense, even though legally you are business......see how that works?
UncleBuck
Well-Known Member
i'm sure, i wasn't really making any claims about that though.
just embarrassing beenthere.
Big Trees
Well-Known Member
btw you only get 1099ed by the servicee if the service you provide is over $600 so a child shoveling driveways or raking leaves would be exempt I believe. Now if he is driving his electric john deer tracker around with Timmy's raking on the side of it, gives out receipts and has other ten year olds out working for him. Then I think he would need a license and be registered as a legal business entity.
The Fed's don't require much if you want to declare yourself as a sole proprietorship. If you do business as a consultant for an outfit of any size, typically a 1099 will be filed.
The type of business, local ordinances, etc, will determine what other legal certifications, licenses, insurances, etc are required.
As a sole proprietor, the Fed's, states of Or and Ca will gladly take you tax money without a business license. Thank goodness Wa. doesn't have an income tax.
You bet ... they all make sure to get their pound of flesh.
SmokeyDan
Well-Known Member
In everything that I've learned, you don't 1099 yourself from your own business.
Suppose you run a handyman service, no one is going to give you a 1099. And you don't file a 1099 when you do your taxes.
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stoners, stoners, stoners..
a 1099 is issued to you for work performed on an independent basis..think contract work, IT, per diem.
or 1099MISC for miscellaneous income
or 1099INT for interest
you get where i'm going with this?
a 1096 is annual summary and transmittal ie; recap of all the 1099's added together.
if things are vanilla turbo-tax isn't half bad..but if you're like me and have "things" a GOOD CPA is the ONLY WAY TO GO!
example: schuylaar owed $42k and PAID $1k
TURBO-TAX WILL NOT REPLACE A GOOD ACCOUNTANT PERIOD.
a 1099 is issued to you for work performed on an independent basis..think contract work, IT, per diem.
or 1099MISC for miscellaneous income
or 1099INT for interest
you get where i'm going with this?
a 1096 is annual summary and transmittal ie; recap of all the 1099's added together.
if things are vanilla turbo-tax isn't half bad..but if you're like me and have "things" a GOOD CPA is the ONLY WAY TO GO!
example: schuylaar owed $42k and PAID $1k
TURBO-TAX WILL NOT REPLACE A GOOD ACCOUNTANT PERIOD.
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Dr Kynes
Well-Known Member
one of your biggest fears is that somebody besides bwna obama will sit in the whitehouse, and thus all the changes in cannabis prohibition will disappear?
NEWSFLASH:
The One didnt have shit to do with any of it, and constitutionally he had no power to stop it
any possible next president will likewise be unable to roll shit back under the constitution, only "living document " revisionists can construct any such power to overturn state laws, so the revisionists should be the ones you worry about, not the conservatives, but since all evil springs from the Republican Fountainhead according to huppo and the rest of the left, they gotta fearmonger within their narrative.
the rest of this thread:
Barry Seotoro and CockBreath didnt raid and "state compliant" grows (cept they did, many many times)
Barry is the weed president (cept he aint)
barry has done such great things (cept he hasnt)
since this thread is pointless bullshit, ill liven it up with the greatest album ever recorded.
H.M. Murdoch
Well-Known Member
A president can indeed instruct the DEA to enforce the federal MJ laws to the letter, if he so chooses. Obama (although I hate his fucking guts) has wisely chosen NOT to do that. However, the next president could.