Quote:
Originally Posted by GregWeld
I used to discuss "write offs" with my old accountant. His view was - If you make a dollar and you pay Uncle Sam 40 cents you still get to keep 60 cents.... If you spend a dollar to save 40 cents... which way will get you ahead?
|
OMG! I've had that same conversation with so many people and it is amazing to me how many people just don't get it.
Fact...the only things that are really "write offs" are expenses that you never get back.
Even the depreciation write off typically doesn't work out because if you ever sell the depreciated asset, you have to reclaim every dollar that you had written off as regular income.