Re: [DML] Re: A question about our vendors, with my DMA hat on.

[Hank <heskin@xxxxxxxxx>]

Claude was referring to all business expenses, be they advertising or
donations of goods and services, as a tax write-off, which they technically
are.  These charges are simply written off the top of the gross revenue
before taxes.

What you're describing sounds more specifically like a tax shelter, just one
type of write-off.

I've run several small businesses, and pretty much anything we can charge
against the business can be classified generically as a "write-off".

As this relates to the D vendors, I don't know how Claude can possibly speak
for them all.  When they visit the tech-sessions (usually on weekends and
their personal time), sure, they can write-off all their travel expenses and
even the goods donated to the raffles.  But their personal time spent?  I
seriously doubt it.

-Hank




On 9/6/07, drhdmc1 <drhaney@xxxxxxxxxxx> wrote:
>
> A tax write off is often an investment of funds in hopes of making a
> profit but if it doesn't pan out the loss of said funds can be offset
> against gains in other assets to reduce tax liablity. Or you can even
> have a writeoff on a personal level if you or your family suffers a
> casualty loss as an example your car is totaled and you were
> underinsured you could writeoff the loss on taxes and a portion of said
> loss could reduce your tax liablity.
>
> Dan Haney
> vin 3254
>
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