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I guess the New York Times needs to learn about depreciation
greenblood
Member Posts: 14,560
https://www.google.com/amp/s/mobile.nytimes.com/2017/03/14/us/politics/donald-trump-taxes.amp.html
So if you write off depreciation and expenses, you're an asshole? Writing off 40% of gross income isn't out of the ordinary for investment property owners.
So if you write off depreciation and expenses, you're an asshole? Writing off 40% of gross income isn't out of the ordinary for investment property owners.
Comments
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*write off, and you're right -
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate. -
This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
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Our resident master burger flipper and part time accountant will surely fuck up the thread, as always.doogie said:This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
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Neither you nor doogie even understand the point. You learn in the very first accounting class that you don't depreciate construction. Your ignorance is noted.Southerndawg said:
Our resident master burger flipper and part time accountant will surely fuck up the thread, as always.doogie said:This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
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Yes...we need HondoFS to add accounting now to the list of things he is an expert in being clueless about...
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"... did not elaborate".. Rather than being ardently literal, I'll give him the benefit of the doubt and assume the reference was to the depreciation of capital equipment used for construction and cost basis adjustments accounting for direct construction costs. Both lower your tax liability. Something you might learn if you ever grow up to be someone who actually makes something.2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate. -
The point isn't that the deduction isn't valid. Dumbfuck. The point is that Trump isn't smart enough to have the wording accurate on an official white house statement.Southerndawg said:
"... did not elaborate".. Rather than being ardently literal, I'll give him the benefit of the doubt and assume the reference was to the depreciation of capital equipment used for construction and cost basis adjustments accounting for direct construction costs. Both lower your tax liability. Something you might learn if you ever grow up to be someone who actually makes something.2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate. -
And you are the idiot who thinks Trump wrote the statement and/or that there is anything there, and that you aren't just grasping for straws (now he "isn't smart enough" because of some last minute PR statement put out) now that another one of your baseless attacks on Trump (that he doesn't pay taxes) just blew up in you face?2001400ex said:
The point isn't that the deduction isn't valid. Dumbfuck. The point is that Trump isn't smart enough to have the wording accurate on an official white house statement.Southerndawg said:
"... did not elaborate".. Rather than being ardently literal, I'll give him the benefit of the doubt and assume the reference was to the depreciation of capital equipment used for construction and cost basis adjustments accounting for direct construction costs. Both lower your tax liability. Something you might learn if you ever grow up to be someone who actually makes something.2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate.
God you are a fucking moron... -
You just went full Madcow.2001400ex said:
The point isn't that the deduction isn't valid. Dumbfuck. The point is that Trump isn't smart enough to have the wording accurate on an official white house statement.Southerndawg said:
"... did not elaborate".. Rather than being ardently literal, I'll give him the benefit of the doubt and assume the reference was to the depreciation of capital equipment used for construction and cost basis adjustments accounting for direct construction costs. Both lower your tax liability. Something you might learn if you ever grow up to be someone who actually makes something.2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate. -
(moved to the correct thread)
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I have never cared or commented on whether Trump paid taxes or not. It's understood that people like him pay people like me to minimize the tax liability. I do everything I can to minimize my taxes too.HoustonHusky said:
And you are the idiot who thinks Trump wrote the statement and/or that there is anything there, and that you aren't just grasping for straws (now he "isn't smart enough" because of some last minute PR statement put out) now that another one of your baseless attacks on Trump (that he doesn't pay taxes) just blew up in you face?2001400ex said:
The point isn't that the deduction isn't valid. Dumbfuck. The point is that Trump isn't smart enough to have the wording accurate on an official white house statement.Southerndawg said:
"... did not elaborate".. Rather than being ardently literal, I'll give him the benefit of the doubt and assume the reference was to the depreciation of capital equipment used for construction and cost basis adjustments accounting for direct construction costs. Both lower your tax liability. Something you might learn if you ever grow up to be someone who actually makes something.2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate.
God you are a fucking moron... -
So some Obama left over illegally releases Trump tax returns and it shows he paid 38 million in taxes.
Helps Trump. Libs look like the idiots they are. When they find these leakers I hope they like Leavenworth! -
It might be a building he already constructed. Or maybe he owns a construction company that has buildings, vehicles and machines...all of which are depreciated. And like most businesses, maybe it passes through it's taxes to the owners' individual returns. Of course, you knew all that...because you're a CPA, right?2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate. -
Been in construction all my life. Use depreciation. Big fan
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Da fuq are you referencing?2001400ex said:
Neither you nor doogie even understand the point. You learn in the very first accounting class that you don't depreciate construction. Your ignorance is noted.Southerndawg said:
Our resident master burger flipper and part time accountant will surely fuck up the thread, as always.doogie said:This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
You most certainly can depreciate construction costs. Land isn't depreciable but you build a building, that shit is getting expensed out pro-rata over a allowable life.
If you're real fucking good, you cost-allocate and track components within the construction and depreciate over a shorter lifespan. Most *real* accounting firms have affiliates who charge big bucks to go back and do that for property owners.
And if you're really a fucking genius with big balls, you drill oil wells and get the bang of all the intangible drilling costs out of the chute instead of playing with blocks.
Stick with your audit tick marks and let real bidness people do bidness.
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Yes, you depreciate the actual building or whatever that is the result of construction. It's called stupidity in how it was worded.PurpleThrobber said:
Da fuq are you referencing?2001400ex said:
Neither you nor doogie even understand the point. You learn in the very first accounting class that you don't depreciate construction. Your ignorance is noted.Southerndawg said:
Our resident master burger flipper and part time accountant will surely fuck up the thread, as always.doogie said:This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
You most certainly can depreciate construction costs. Land isn't depreciable but you build a building, that shit is getting expensed out pro-rata over a allowable life.
If you're real fucking good, you cost-allocate and track components within the construction and depreciate over a shorter lifespan. Most *real* accounting firms have affiliates who charge big bucks to go back and do that for property owners.
And if you're really a fucking genius with big balls, you drill oil wells and get the bang of all the intangible drilling costs out of the chute instead of playing with blocks.
Stick with your audit tick marks and let real bidness people do bidness.
And yes, you break out sinks and toilets, whatever to speed the depreciation. Not to mention energy tax credits and shit for LED bulbs and insulation. You still don't depreciate construction. -
Get yo'self a dictionary and learn some good engrish.2001400ex said:
Yes, you depreciate the actual building or whatever that is the result of construction. It's called stupidity in how it was worded.PurpleThrobber said:
Da fuq are you referencing?2001400ex said:
Neither you nor doogie even understand the point. You learn in the very first accounting class that you don't depreciate construction. Your ignorance is noted.Southerndawg said:
Our resident master burger flipper and part time accountant will surely fuck up the thread, as always.doogie said:This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
You most certainly can depreciate construction costs. Land isn't depreciable but you build a building, that shit is getting expensed out pro-rata over a allowable life.
If you're real fucking good, you cost-allocate and track components within the construction and depreciate over a shorter lifespan. Most *real* accounting firms have affiliates who charge big bucks to go back and do that for property owners.
And if you're really a fucking genius with big balls, you drill oil wells and get the bang of all the intangible drilling costs out of the chute instead of playing with blocks.
Stick with your audit tick marks and let real bidness people do bidness.
And yes, you break out sinks and toilets, whatever to speed the depreciation. Not to mention energy tax credits and shit for LED bulbs and insulation. You still don't depreciate construction.
construction
[kuh n-struhk-shuh n]
Spell Syllables
Synonyms Examples Word Origin
See more synonyms on Thesaurus.com
noun
1.
the act or art of constructing.
2.
the way in which a thing is constructed:
a building of solid construction.
3.
something that is constructed; a structure.
4.
the occupation or industry of building:
He works in construction.
5.
Grammar.
the arrangement of two or more forms in a grammatical unit. Constructions involving bound forms are often called morphological, as the bound forms fif- and -teen. Those involving only free forms are often called syntactic, as the good man, in the house.
Compare bound form, free form.
a word or phrase consisting of two or more forms arranged in a particular way.
a group of words or morphemes for which there is a rule in some part of the grammar.
6.
explanation or interpretation, as of a law, a text, or an action.
dictionary.com/browse/construction?s=t
You most certainly can and do depreciate "something that is contstructed; a structure".
Now, go back to your tick marks and voucher hunting.
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It's ok to backdown and admit you're wrong on here. I've done it before.2001400ex said:
Yes, you depreciate the actual building or whatever that is the result of construction. It's called stupidity in how it was worded.PurpleThrobber said:
Da fuq are you referencing?2001400ex said:
Neither you nor doogie even understand the point. You learn in the very first accounting class that you don't depreciate construction. Your ignorance is noted.Southerndawg said:
Our resident master burger flipper and part time accountant will surely fuck up the thread, as always.doogie said:This isn't gonna be a thread trying to claim there are differences between revenues, expenses, profits and losses is it?
You most certainly can depreciate construction costs. Land isn't depreciable but you build a building, that shit is getting expensed out pro-rata over a allowable life.
If you're real fucking good, you cost-allocate and track components within the construction and depreciate over a shorter lifespan. Most *real* accounting firms have affiliates who charge big bucks to go back and do that for property owners.
And if you're really a fucking genius with big balls, you drill oil wells and get the bang of all the intangible drilling costs out of the chute instead of playing with blocks.
Stick with your audit tick marks and let real bidness people do bidness.
And yes, you break out sinks and toilets, whatever to speed the depreciation. Not to mention energy tax credits and shit for LED bulbs and insulation. You still don't depreciate construction. -
Just?Southerndawg said:
You just went full Madcow.2001400ex said:
The point isn't that the deduction isn't valid. Dumbfuck. The point is that Trump isn't smart enough to have the wording accurate on an official white house statement.Southerndawg said:
"... did not elaborate".. Rather than being ardently literal, I'll give him the benefit of the doubt and assume the reference was to the depreciation of capital equipment used for construction and cost basis adjustments accounting for direct construction costs. Both lower your tax liability. Something you might learn if you ever grow up to be someone who actually makes something.2001400ex said:
You and Trump need to learn what depreciation is. You don't "depreciate" construction.greenblood said:
The White House described the business losses as a “large-scale depreciation for construction,” but did not elaborate.
