Idaho BS thread in the PNW

i can tell you exactly how lol. he plugs each depreciate asset into a table in the software with all of the information needed (date acquired, cost/basis, useful life, prior depreciation and depreciation method, among 20 other options) and it calculates it all in a worksheet and throws it in there. then each year he does the taxes it tracks it and calculates it again by itself. the most time consuming thing is entering in a giant list of new assets and figuring out what is capitalized, if they are taking sec 179, making sure the depr schedule is working accordingly...

somewhere in the return there should be a worksheet attached with the return that gives a break down of each asset and where its at. its not "in" the return, just a detail document

 

I know how to work with depreciation. I had to take an Engineering Econ class a year ago and the guy was some civil engineer who was big into business and basically made us calculate depreciation and other tax stuff the whole time...

But it is this stuff that I don't know... "(date acquired, cost/basis, useful life, prior depreciation and depreciation method, among 20 other options)"

I also don't have the cool software but I doubt her list is real big so I could probably do a lot of it by hand if I can find a table giving me the useful life and depreciation methods online somewhere.

 

its really pretty straight forward. especially if you do 5 or 7 year life with SL depreciation, if you wanted to do accelerated depr like a MACRS schedule or double declining balances it takes a bit more math, but not bad. But really when you buy the asset you can take 10 minutes and make a schedule for the next 5-7 years and just deduct the expenses each year. OR upon acquisition of a new asset sec 179 it and deduct the whole thing in the first year and be done

^ all shit i have learned and applied in the last month, love the fuck out of it

 

Her Dad more or less runs it so I have no idea what goes on and when with it so that is a lot of why I have no idea what is going on tax wise as well. I know they bought a bull this last Spring, but I have no idea if she bought or sold any cows or calves and what not. haha


I think it is pretty cool that your major is kind of applicable to most people. If I started talking about my major in here I would just bore everyone to death and they probably wouldn't understand half of it...

 

Maybe its time to offer a "TW" tax service. My accountant charges me $180 a pop.

 

wait is the business farming lol? or you just bought a bull becuse


and i think its pretty cool as well its just good timing that it is the heart of tax time, im in my federal taxation class, and our firm is doing about 200 tax returns by april 15th. at least half of which i am doing. taxes arent my favorite, but there is a lot of money in it, and it is apart of everyone's life. Pretty interesting topic mixing the utter bull shit of politics and law with the accurateness of financial reporting and accounting

 

cant imagine yours is that bad haha. you were right though. this tax software is gold haha.

its going to take my partner and i about 5-6 hours to do this medium difficulty 1040 tax case by hand, and at the office i would have it done in under an hour with the level of accuracy the facts are given

 

I get mine done free at OLT.com

I don't pay state taxes though, they charge like $7 for that.

May not be getting the most through them though since it's free, no clue... Haha

 

meh, at our age there is really not THAT much you can deduct. not like you are losing 1000s of dollars on a return because something gets left out

 

You didn't work at all last year? Not even summer?

 

No doubt doing it is fun but I was definitely referring to watching it

 

I need to go through and finish uploading mine

 

seriously??


hmmm...i guess now that i think about it..i remember that you had nothing to do much for summer. Didn't you did school?

 

But it isn't the same for me. I see abuse. Hard to get past that for some reason.

Also, in traditional racing, there seems to be more back and forth between drivers and teams during competition. But I'll be the first to admit, a know very little about the "sport" of drifting.

 

yea drift racing is hard to watch really..well..not really..kinda exciting really. But there are a few diferent versions of it. Can be odd for sure.


Offroad is still my fav with Pro4 and Pro2 class stadium trucks. Those guys give 0 fucks.

 

probably flickr just tracking you with what you like no different then google ads..so..not too suprising i guess...


last summer was so odd for me its hard to keep straight..i usually use events and moments with in brain images to remember stuff and i was just in AK all summer so i don't remember a ton..just work and stuff there...nothing hardly about what others were doing as i was almost alienated haha then there was the epic and that was it haha

 

That's it! Its like figure skating but with cars, on pavement.

I don't really care for figure skating either.

 

What? figure skating is intense!! Great sport IMO. Im usually against most sport that are "judged" with judges and shit..but figure skating is fun to watch.

 

you just must be on the ball for whats "in" on flickr..haha

 

I tried skating once. Absolutely hated it. haha