Remember that song, God, It’s Hard To Be Humble? Here it is by it’s author Mac Davis.
If you know how to contact him please let me know. I need him to rewrite the song to substitute the word “Honest” for “Humble”.
I am doing the tax returns for all the family businesses. I have to close out the books, make a few Journal entry adjustments and redistribute the losses to those members that need the tax deductions.
It is hard to be motivated today knowing IRS is finally dying in a few months, all while knowing the IRS never had the right to tax the people and then to see the government thieving faster than we can be taxed.
Then it hit me – just cheat like a Democrat or Congressman a does. Why add up all those ledger numbers when I can just scribble in two numbers.
Revenue: $0
Contribution to USAID (cash)* $150,000
Continuity of Business (cash) * $175,000
________
Sub-chapter S Business Loss: $325,000
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* Cash - USAID person said it had to be in cash.
** Cash - Had to be cash so no one can find my bunker, same as the Congress people do.
Now we can add all family that owes taxes to be stockholders and take their share of the losses.Of course the Continuity of Business is for my bomb shelter and food for a year as the Government is going bankrupt. The USAid cash was a bribe for the government to leave me alone. I would love to see an IRS auditor try to argue away these two expenses.
But of course there will be none left working there soon.
In accounting class this was actually studied as it is real. It is called a “New Year’s Eve Party”. That is when owners and employees “Runn Oft” with anything not nailed down the night before the bankruptcy petition is filed. Honest folks.
Do you honesty think I would lie about this?
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