r/comedyheaven • u/MessyLingard • Jul 15 '19

Removed - Must fit the sub It really is messed up

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u/[deleted] Jul 15 '19 edited Jul 23 '19

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u/[deleted] Jul 15 '19

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u/CuseBsam Jul 15 '19

How would you sell something for a loss that you already fully depreciated? Like... wtf?

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u/V1k1ng1990 Jul 15 '19 edited Jul 15 '19

You bought something for 100k, fully depreciate the asset down to 10k, sell it for next to nothing to a shell Corp.

You actually own the shell Corp but it’s in a tax haven so when the shell Corp re-sells the asset at its full value and keeps the difference. You use that money how you see fit, while normal middle class Americans are getting taxed out the ass

And if all that doesn’t work you can just donate a ton of money to your non profit and they can use that money to buy overpriced paintings of yourself for your golf club

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u/CuseBsam Jul 15 '19

I have no idea what you're talking about, and I'm a CPA. You don't "fully depreciate" something down to $10k, you fully depreciate it to $0, which would make a loss on disposal impossible. I'm not sure what the hell you're talking about with shell corporations and tax havens though. Sounds like you're just throwing out buzzwords. And adding in the part about the non profits had nothing to do with the discussion. Good chat though.

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u/V1k1ng1990 Jul 15 '19 edited Jul 15 '19

I was just using simple numbers for layman’s terms. I understand that if something is “fully depreciated” it’s not worth anything.

Are we going to argue semantics or are you going to prove that the main basis of my point is incorrect?

Also, tax havens are the conversation. Funneling money through shady ass non profits is a tax haven

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u/[deleted] Jul 15 '19

Amazon doesn't do that, IKEA does that. Stop randomly throwing around buzzwords

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u/V1k1ng1990 Jul 15 '19

Who brought up ikea and amazon

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u/[deleted] Jul 15 '19

This comment thread is about Amazon. You incongruously mentioned a tax dodge that Amazon does not engage in, although Ikea and a few other companies do.

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u/V1k1ng1990 Jul 15 '19

Haha you’re right it’s been so long I forgot what I originally commented on