On Dec 19, 2008, at 6:37 PM, John Callahan wrote:
> > > On Dec 18, 2008, at 11:46 PM, Charles Davis wrote: > >>> >>> >>> >> Yeah!! Yeah!! I know what you mean, but it buggs me to hear "Tax >> deductable", when in fact "It's an INCOME deduction" when calculating >> tax liability. >> >> Say what you mean, and Mean what you say. And don't let the mentally >> lazy determine how things are said. >> >> Chuck D. >> >> > Chuck, correct me if I'm wrong but I believe that when something is > "tax deductable" it means that there is no tax liability for for > items that are considered production costs or manufacturing costs. > Accordingly costs for labor, R&D, capitol equipment and the like are > tax free. That means that the tax-payers are, in effect, paying a > portion of a company's tax liability. Can't say for sure. I've never looked at the 'business' rules for R&D expense. What I'm always noticing is "It's TAX DEDUCTIBLE" in reference to making donations to (take your pick) Red Cross, Salvation Army, local Rescue Squad/Volunteer Fire Department, etc. All good causes, All of which qualify as 'valid deductions' from Gross Income when calculating Tax Liability. It's so the IRS folks created a NEW category of "Tax Credit" for those things that DO offset the TAX amount directly. Chuck D. >>> > > John Callahan > [email protected] > If there are no dogs in Heaven, when I die I want to go where they > went.ยจ > --Will Rogers > extreme positive = (ybya2) > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed Low End Mac's G3-5 List, a group for those using G3, G4, and G5 desktop Macs - with a particular focus on Power Macs. The list FAQ is at http://lowendmac.com/lists/g-list.shtml and our netiquette guide is at http://www.lowendmac.com/lists/netiquette.shtml To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/g3-5-list?hl=en Low End Mac RSS feed at feed://lowendmac.com/feed.xml -~----------~----~----~----~------~----~------~--~---
