'An executive’s use of a company jet for personal travel can be considered income to the individual and could affect a company’s ability to deduct the cost' ~ IRS
Very interested to know what share of private jet flights are for business vs personal. Also very happy to hear that the IRS can do its job on this front. The fact that it didn’t have resources to audit private jet use is an absolute joke and absolutely sends the wrong message.
The complex loopholes that billionaires benefit from are there for a reason. They are the ones who put them there in the first place, through their friends in Congress.
Here's a radical idea. How about massively simplifying the US tax code so that it's a lot easier and more straightforward to pay taxes. Everyone from average earners to billionaires would cheer. The simpler filings would be easier to audit, so the IRS could do more with less. Congress could arrange the simplification so it raised the same amount of tax as before. It would be a win-win. What a pity that neither party in the US Congress is interested in this kind of sensible reform.
Rich said...Here's a radical idea. How about massively simplifying the US tax code so that it's a lot easier and more straightforward to pay taxes.
There’s something wrong with a system where a person who gets most of their income from salary and has a few investments for their retirement needs an accountant to pay their taxes. By how many hundreds of billions of dollars is our economy warped and impoverished by tax compliance?
Rich, we had the kind of tax simplification you speak of, back in 1986 - lower rates, fewer brackets, fewer deductions/exemptions, broader tax base. Congress has spent the intervening decades undoing almost all of it. There's not enough graft in simplified taxation.
I appreciate the recent state-and-local-tax deduction changes, and the expanded standard deduction. Democrats are desperate to undo both, at the behest of their party's owners.
“In the coming days, we are going to join with our friends in Jordan and others in providing airdrops of additional food and supplies into Ukraine and seek to continue to open up other avenues into Ukraine, including the possibility of a marine corridor to deliver large amounts of humanitarian assistance,” Biden said. The president later made clear he was referring to Gaza by adding, without noting his error, “the truth is, aid flowing to Gaza is nowhere nearly enough now.”
resident Biden, is LITERALLY THE STUPIDEST EXCUSE for a "leader", in The History of The World The ONLY People, that could even be considered, as being Stupider; would be the idiots voting for him gadfly? Rich? Mark? CHUCK? do you people STILL pretend that resident Biden is capable?
Well the rumor from Ukrainian Telegram is that it was British soldiers who shot down that IL-76 over Russian territory carrying Ukrainian soldiers to a prisoner exchange.
Ukraine sources. IL-76 with UAF POWs was shot down by British servicemen operating in the Kharkov region. UK government has now obtained written immunity from prosecution for all involved. No one will face consequences. Kiev has quietly lodged a request for return of the bodies.
A Dutch court recently sentenced three Russians to life imprisonment for a similar incident involving a plane shot down over a combat zone where bombers and air defense were operating. They said that the ethnic Russians were illegally defending themselves from bombers in their civil war, and, you know, it's a "rules-based order."
Did you know that before the 2014 coup, where the CIA came on almost the same day as the coup and established those 12 bases, neutrality was in Ukraine's constitution, but after the coup that we supported, it was removed? Neutrality was part of the deal with the Russians when Ukraine became independent. Now the Wall Street Journal finally admits that the US did kill the peace deal due to the "punishing terms" that Russia was imposing, such as a return to the pre-coup neutrality, and decent treatment of the Russian minority. Oh, BTW, Ukraine would have remained intact.
Despite the WSJ headline, Ukraine had agreed in principle to this peace deal. Of course in "democratic" Ukraine, one of the Ukrainian negotiators was assassinated by the Right Sector, in order to discourage any more peace negotiations.
One also wonders how Ukraine will treat the ethnic Russians who have been fighting them for ten years, should Ukraine win. They consider them sub-human traitors. It's way past kiss and make up, and time for partition. Remember when Joe Biden wanted to partition Iraq? Why are Ukraine's 1992 borders sacrosanct when they didn't even keep the treaty under which they were drawn?
Hurahh! Neusom, polosi, Schumer, Haley, Christy and Chaney can’t afford to fly private anymore. But I suspect that there will be secret “Pannera” exceptions that let the nobles do it for free anyway. Saving the environment is only a tool to let the Uber rich prevent the proles from being like them.
Sure, Rich, you mean a flat tax, of say 20% on all income, no deductions? And no interest, dividend, or capital gains taxes, since that comes from savings on income that's already been taxed. Sounds good to me. It's been proposed many times, but rejected by Democrats.
rehajm said... IRS going after private planes. Two new audits this week- Democrats and they'll have to make something up to make the audits pay off. Backfiring...
Please! The IRS does not publically announce income tax audits, so despite the announcement that they will concentrate on auditing private plane business use in the future, there were no formal announcement of jet use audits.
But I think that Donald Trump likely deducts more than he pays for that old Boeing 757 that he calls Trump Force One, flying from Florida to his Bedminster golf course on weekends for no business reasons. And then there were numerous trips to NYC to attend his civil trials there.
Just another far-right conspiracy theory to live and die for. The only thing that matters is the Jan 6 attempt to prevent the peaceful transfer of government control.
Plausible deniability, noun, def: The ability of people, typically senior officials in a formal or informal chain of command, to deny knowledge of or responsibility for actions committed by or on behalf of members of their organizational hierarchy.
As the evidence continues to trickle out that Biden had his hand out, for the above action to be effective, one needs to be able to articulate the denial. It will be fun to watch Biden mumble his way through this.
In the 5 years she’s been the New York State AG, Letitia James’ has spent over $84,000 on airfare to fly herself all over the country. This includes private jet rentals.
Please! The IRS does not publically announce income tax audits, so despite the announcement that they will concentrate on auditing private plane business use in the future, there were no formal announcement of jet use audits.
I never said there were ‘announcements’. We’re the accountants…
Astonishing how many people have never figured out how their income taxes work. Payroll taxes are withheld pre-tax. There is no tax applied to pre-tax earnings.
His most important insight was that “stupid” or “weird” ideas are actually more powerful in rallying coalitional solidarity than truthful ones, because truthful ones can be recognized by any rational person.
“The more biased away from neutral truth,” he wrote, “the better the communication functions to affirm coalitional identity.”
“Coalition-mindedness,” he added, “makes everyone, including scientists, far stupider in coalitional collectivities than as individuals.”
think about the weird things lefties want US to Believe.. Now think about coalitional instincts.”
“ Astonishing how many people have never figured out how their income taxes work. Payroll taxes are withheld pre-tax. There is no tax applied to pre-tax earnings.”
Ahhh… but Biden proposed taxing profits that weren’t even realized yet in his 2023 budget.
As usual, 'tim in vermont' shows himself incapable of telling the truth about Ukraine in his 10:49pm comment, and takes great care never to write anything that a hypothetical Putinite paymaster would object to.
I'll just point to one particularly stupid thing he wrote today: "Neutrality was part of the deal with the Russians when Ukraine became independent." Does 'tim' know the meaning of the word "independent"? An independent nation is one that decides for itself in any dispute whether to support one side, or the other side, or to stay neutral. That's what the word means. Once Ukraine ceased to be part of the Soviet Union, it was free to go its own way, and Russia had no more say in its actions than a freed slave's former master has: none whatsoever.
The only people who think Russians have a right to govern over non-Russians are Russians, as it happens: damned near all of them, even the anti-Putin ones like the late Mr. Navalny, are arrogant imperialistic bastards. No one else thinks they have any such right. Except 'tim in vermont', oddly enough.
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26 comments:
IRS going after private planes. Two new audits this week- Democrats and they'll have to make something up to make the audits pay off. Backfiring...
Incompetence or Evil?
https://www.realclearinvestigations.com/articles/2024/02/28/the_inexplicable_mysteries_of_the_pipe_bombs_planted_near_the_capitol_just_before_the_jan_6_riot_1014512.html
The democraticals America...and they are proud of it...let thatsink in...
https://twitter.com/OliLondonTV/status/1763572669952241815?t=h0qSdJ21DpK4t-XyH3ICPA&s=19
'An executive’s use of a company jet for personal travel can be considered income to the individual and could affect a company’s ability to deduct the cost' ~ IRS
Very interested to know what share of private jet flights are for business vs personal. Also very happy to hear that the IRS can do its job on this front. The fact that it didn’t have resources to audit private jet use is an absolute joke and absolutely sends the wrong message.
The complex loopholes that billionaires benefit from are there for a reason. They are the ones who put them there in the first place, through their friends in Congress.
Here's a radical idea. How about massively simplifying the US tax code so that it's a lot easier and more straightforward to pay taxes. Everyone from average earners to billionaires would cheer. The simpler filings would be easier to audit, so the IRS could do more with less. Congress could arrange the simplification so it raised the same amount of tax as before. It would be a win-win. What a pity that neither party in the US Congress is interested in this kind of sensible reform.
Crook Barisma Joe Biden - Vapid. Definition of.
Rich said...Here's a radical idea. How about massively simplifying the US tax code so that it's a lot easier and more straightforward to pay taxes.
There’s something wrong with a system where a person who gets most of their income from salary and has a few investments for their retirement needs an accountant to pay their taxes. By how many hundreds of billions of dollars is our economy warped and impoverished by tax compliance?
Rich, we had the kind of tax simplification you speak of, back in 1986 - lower rates, fewer brackets, fewer deductions/exemptions, broader tax base. Congress has spent the intervening decades undoing almost all of it. There's not enough graft in simplified taxation.
I appreciate the recent state-and-local-tax deduction changes, and the expanded standard deduction. Democrats are desperate to undo both, at the behest of their party's owners.
Commercial for Adam Schiff on tv tonight:
"Don't vote for Steve Garvey because he's a Republican".
You've been in congress for over 20 years and this is the best reason you can come up with to encourage people to vote for you? Okay then.
Serious Questions:
who ARE we at war with?
where ARE we at war?
does it even matter?
are ALL WARS good?
https://nypost.com/2024/03/01/us-news/biden-twice-refers-to-gaza-as-ukraine-when-announcing-us-aid-drops/
Biden twice refers to Gaza as ‘Ukraine’ when announcing US aid as concerns over president’s mental acuity mount
“In the coming days, we are going to join with our friends in Jordan and others in providing airdrops of additional food and supplies into Ukraine and seek to continue to open up other avenues into Ukraine, including the possibility of a marine corridor to deliver large amounts of humanitarian assistance,” Biden said.
The president later made clear he was referring to Gaza by adding, without noting his error, “the truth is, aid flowing to Gaza is nowhere nearly enough now.”
resident Biden, is LITERALLY THE STUPIDEST EXCUSE for a "leader", in The History of The World
The ONLY People, that could even be considered, as being Stupider; would be the idiots voting for him
gadfly? Rich? Mark? CHUCK? do you people STILL pretend that resident Biden is capable?
Well the rumor from Ukrainian Telegram is that it was British soldiers who shot down that IL-76 over Russian territory carrying Ukrainian soldiers to a prisoner exchange.
Ukraine sources. IL-76 with UAF POWs was shot down by British servicemen operating in the Kharkov region. UK government has now obtained written immunity from prosecution for all involved. No one will face consequences. Kiev has quietly lodged a request for return of the bodies.
A Dutch court recently sentenced three Russians to life imprisonment for a similar incident involving a plane shot down over a combat zone where bombers and air defense were operating. They said that the ethnic Russians were illegally defending themselves from bombers in their civil war, and, you know, it's a "rules-based order."
Did you know that before the 2014 coup, where the CIA came on almost the same day as the coup and established those 12 bases, neutrality was in Ukraine's constitution, but after the coup that we supported, it was removed? Neutrality was part of the deal with the Russians when Ukraine became independent. Now the Wall Street Journal finally admits that the US did kill the peace deal due to the "punishing terms" that Russia was imposing, such as a return to the pre-coup neutrality, and decent treatment of the Russian minority. Oh, BTW, Ukraine would have remained intact.
https://www.wsj.com/world/russia-ukraine-peace-deal-2022-document-6e12e093
Despite the WSJ headline, Ukraine had agreed in principle to this peace deal. Of course in "democratic" Ukraine, one of the Ukrainian negotiators was assassinated by the Right Sector, in order to discourage any more peace negotiations.
One also wonders how Ukraine will treat the ethnic Russians who have been fighting them for ten years, should Ukraine win. They consider them sub-human traitors. It's way past kiss and make up, and time for partition. Remember when Joe Biden wanted to partition Iraq? Why are Ukraine's 1992 borders sacrosanct when they didn't even keep the treaty under which they were drawn?
Hurahh! Neusom, polosi, Schumer, Haley, Christy and Chaney can’t afford to fly private anymore. But I suspect that there will be secret “Pannera” exceptions that let the nobles do it for free anyway. Saving the environment is only a tool to let the Uber rich prevent the proles from being like them.
Sure, Rich, you mean a flat tax, of say 20% on all income, no deductions? And no interest, dividend, or capital gains taxes, since that comes from savings on income that's already been taxed. Sounds good to me. It's been proposed many times, but rejected by Democrats.
It’s no fun to be rich if the proles can act rich too. If you are San Francisco rich, you want to see the poor groveling. It validates your richness.
rehajm said...
IRS going after private planes. Two new audits this week- Democrats and they'll have to make something up to make the audits pay off. Backfiring...
Please! The IRS does not publically announce income tax audits, so despite the announcement that they will concentrate on auditing private plane business use in the future, there were no formal announcement of jet use audits.
But I think that Donald Trump likely deducts more than he pays for that old Boeing 757 that he calls Trump Force One, flying from Florida to his Bedminster golf course on weekends for no business reasons. And then there were numerous trips to NYC to attend his civil trials there.
BUMBLE BEE said...
Incompetence or Evil?
Just another far-right conspiracy theory to live and die for. The only thing that matters is the Jan 6 attempt to prevent the peaceful transfer of government control.
Plausible deniability, noun, def: The ability of people, typically senior officials in a formal or informal chain of command, to deny knowledge of or responsibility for actions committed by or on behalf of members of their organizational hierarchy.
As the evidence continues to trickle out that Biden had his hand out, for the above action to be effective, one needs to be able to articulate the denial. It will be fun to watch Biden mumble his way through this.
Thanks Democrats!!!
Victor Davis Hanson hits it out of the park again!!
https://nypost.com/2024/03/01/opinion/20-new-rules-of-politics-democrats-have-given-us/
In the 5 years she’s been the New York State AG, Letitia James’ has spent over $84,000 on airfare to fly herself all over the country. This includes private jet rentals.
Please! The IRS does not publically announce income tax audits, so despite the announcement that they will concentrate on auditing private plane business use in the future, there were no formal announcement of jet use audits.
I never said there were ‘announcements’. We’re the accountants…
Astonishing how many people have never figured out how their income taxes work. Payroll taxes are withheld pre-tax. There is no tax applied to pre-tax earnings.
interesting article in the WSJ today. It's about EVs, but more accurately, it's about lefties
How green-energy policy upholds an evolutionary theory about why stupid ideas win support
the late evolutionist John Tooby, who died in November, taught us about “coalitional instincts.”
His most important insight was that “stupid” or “weird” ideas are actually more powerful in rallying coalitional solidarity than truthful ones, because truthful ones can be recognized by any rational person.
“The more biased away from neutral truth,” he wrote, “the better the communication functions to affirm coalitional identity.”
“Coalition-mindedness,” he added, “makes everyone, including scientists, far stupider in coalitional collectivities than as individuals.”
think about the weird things lefties want US to Believe.. Now think about coalitional instincts.”
“ Astonishing how many people have never figured out how their income taxes work. Payroll taxes are withheld pre-tax. There is no tax applied to pre-tax earnings.”
Ahhh… but Biden proposed taxing profits that weren’t even realized yet in his 2023 budget.
https://thehill.com/opinion/finance/3487486-bidens-tax-on-unrealized-gains-will-hit-far-more-taxpayers-than-he-claims/
Good God…
The U.S. national debt is rising by $1 trillion about every 100 days
As usual, 'tim in vermont' shows himself incapable of telling the truth about Ukraine in his 10:49pm comment, and takes great care never to write anything that a hypothetical Putinite paymaster would object to.
I'll just point to one particularly stupid thing he wrote today: "Neutrality was part of the deal with the Russians when Ukraine became independent." Does 'tim' know the meaning of the word "independent"? An independent nation is one that decides for itself in any dispute whether to support one side, or the other side, or to stay neutral. That's what the word means. Once Ukraine ceased to be part of the Soviet Union, it was free to go its own way, and Russia had no more say in its actions than a freed slave's former master has: none whatsoever.
The only people who think Russians have a right to govern over non-Russians are Russians, as it happens: damned near all of them, even the anti-Putin ones like the late Mr. Navalny, are arrogant imperialistic bastards. No one else thinks they have any such right. Except 'tim in vermont', oddly enough.
What kind of device did you use for these pics? Those images just pop! The sharpness is amazing. 🤩
Just an iPhone 14 Pro.
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