1600+ entries in 0.214s
copumpkin: I think my best bet is to set up some sort of S-corp or something and then do "consulting" on the side that lets me deduct a bunch of things
copumpkin: but leave them to take care of them and don't pay childcare
copumpkin: what if I knock up 20 different girls and claim 20 kids
copumpkin: can I get a virtual kid, like a tamatochi?
copumpkin: but doesn't the nanny cost me money?
copumpkin: anyway, I was planning on maxing out the 401k pretax contribution next year, and squeezing more than is supposed to be possible into the roth
copumpkin: nah, I'm unmarried, don't own a house, don't have children
copumpkin: yeah, I'm doing a backdoor roth IRA
copumpkin: I have a pretty boring finanicial situation :)
copumpkin: which is where I think most of that sort of goodness comes from
copumpkin: smickles: it's sort of joking around though, because I doubt it's possible to lower much, since I don't work for myself or have a company and can't really deduct most of my expenses
copumpkin: well, you can calculate based on my 7 btc limit!
copumpkin: mircea_popescu: disregard that, I'll ask again in a bit
copumpkin: perhaps I should've waited a little longer
copumpkin: mircea_popescu: I have an offer for you. You lend me 100k btc, I pay you back 200k next week
copumpkin: any more than that and it isn't worth it ;)
copumpkin: mircea_popescu: I'm offering him 6 btc to take my effective tax rate to 15%
copumpkin: mircea_popescu: just follow the fibonacci numbers on the price graph and you'll make way more money anyway
copumpkin: that's just cause he's an old fart and is dumb
copumpkin: so if you're public, you can't just do what the taxes do
copumpkin: Like many other common law countries, the United States government does not directly set accounting standards by statute. However, the U.S. Securities and Exchange Commission (SEC) requires that US GAAP be followed in financial reporting by publicly traded companies
copumpkin: that's why you can have deferred tax liabilities or assets
copumpkin: well, the discrepances can both favor you or work against you
copumpkin: but regardless, I need to know it, so I learn it
copumpkin: mostly it just feels stupid though :P
copumpkin: maybe smickles can provide a justification for the whole thing, but the best I can come up with is that a company's accounts serve a different purpose than its tax returns
copumpkin: which means that auditors or the SEC might bitch
copumpkin: no, you do, because then you aren't meeting the US GAAP/IFRS standards
copumpkin: also, warranty expenses are fucked as well for different reasons
copumpkin: sometimes they might ,depending on what kind of asset it is
copumpkin: and they don't all mesh with the tax method
copumpkin: that's the thing though, the IFRS has requirements for the depreciation method
copumpkin: so you file a deferred tax liability saying "um, the tax man thinks we lost way more money than we did this year and charged us less taxes, but we haven't lost it yet"
copumpkin: which means you paid less in taxes (Because they think you lost money to depreciation) today but your accounts don't show that depreciation because you used a different method on them
copumpkin: which means that it looks like you lost more money to depreciation on your taxes than you did on your accounts
copumpkin: like if you have an asset, accounting standards have different ways you can depreciate it over time, but the taxes probably want a particular way called double-declining balance
copumpkin: or account for warranty expenses differently
copumpkin: so you often need to depreciate things differently on your taxes and on your accounts
copumpkin: it's about actual discrepancies in procedures
copumpkin: no, it isn't about not filing them
copumpkin: anyway, whatever it is, you need to account for it :)
copumpkin: I haven't looked at the question since earlier
copumpkin: it's just a huge pain in the ass to account for it
copumpkin: but the tax rate did go up, so you would pay more tax
copumpkin: you don't pay more tax than you would otherwise, but due to the discrepancy between your accounts and the tax reports, you need to adjust your accounts to factor in the increased rate
copumpkin: those welfare queens buying italian pizza ovens
copumpkin: mircea_popescu: he should start doing porn
copumpkin: I wouldn't say trust is as much of an issue. The thing about a perpetuity is that the later payments are effectively meaningless
copumpkin: callable is a bond with a prepayment option
copumpkin: IT HAS RELIGIOUS REFERENCES AND SHIT
copumpkin: I mostly prefer git for personal use
copumpkin: I'm not too opinionated on the hg/git divide