Quote:
Originally Posted by calf
This is me, but when someone says "corporation or rich guy only did this thing for the tax write-off". No they didn't. If you spend $1 million on something to get a full tax deduction, you might save $250k in taxes, but you'll be out $750k net. That's not people make money.
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Yeah...as someone who specializes in Tax I get this A LOT.
Biggest one? Cars.
Yeah, you can buy a car and 'write some of it off' but you're still going to be spending far more than you're saving, cash remains King.
What you have to think about is whether the utility and value that vehicle brings to your business will generate sufficient additional revenue as to cover the remaining cost/value of the vehicle.
Anyways, now we're getting waaay off the topic at hand.
I dont doubt that this Nurse made $510K, I just maintain that this should be taken for what it is, and that is shining a light on a significant systemic problem that has to be addressed.