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A deduction for a legitimate business expense is a subsidy when businesses from a particular industry are singled out to receive that benefit.
What business expenses aren't deductible?

Business Expense is not a Subsidy

I agree with these, Malibu is "OK" but the Impala was way better!

I really don't think I'm argumentative, I'm just right a lot more than I'm wrong.

For Example:
The '21 Acura TLX does not look like a Honda - fact
The CT4 has a stupid looking back end and a weird FWD esque profile - fact and I damn sure wouldn't spend $55k on one with a base truck engine.
The Malibu is garbage - fact
The Escalade actually isn't all that great - fact
The Hummer EVs are useless - fact
...and the Hummer H2 does gets <13 MPGs - I really don't care that it "wasn't EPA rated because of weight" that doesn't change the fact that it got ****ty gas mileage, it also actually did get rated, GM just didn't have to publish it.

...and there are others.
 

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If it is a legitimate business expense why would you call it a subsidy?
A deduction for a legitimate business expense is a subsidy when businesses from a particular industry are singled out to receive that benefit.
I'm lost...what in the hell is the argument anyway...are we arguing over the definition of the term subsidy? Or are we arguing that the oil industry or any industry has never received a gov't "subsidy" in the form of tax breaks, cash payments, deferments, etc.

Hell in Louisiana we literally used to cut a check to our NFL team yearly to keep them cost competitive in a small market. We also gave billions in tax breaks to the oil industry in order to spur investment which leads to jobs/other tax revenue down the line.
 

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If it is a legitimate business expense why would you call it a subsidy? Oh yeah you like to not only argue, but insist that you are right. Got it.
I'll tell you why, its called "Propaganda".

If I'm an oil company and I buy a piece of land and dig for oil, that isn't productive, I get to offset those expenses against other land that was productive and profitable.
 

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A deduction for a legitimate business expense is a subsidy when businesses from a particular industry are singled out to receive that benefit.

I really don't think I'm argumentative, I'm just right a lot more than I'm wrong.

The Hummer EVs are useless - fact
I have to disagree with this statement. If you want to enter an EV-only off-road supertruck rally, what other vehicle would you pick?

It might be useless as a work truck, but that's not its intended purpose.
 

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I'll tell you why, its called "Propaganda".

If I'm an oil company and I buy a piece of land and dig for oil, that isn't productive, I get to offset those expenses against other land that was productive and profitable.
I'm done with this topic as far as the "argument" with supermoto is concerned, but in the spirit of being factually accurate, I'll point out that buying land and exploring/drilling is capex and not an expense. Capex can't be expensed as a general rule.
 
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What business expenses aren't deductible?

Business Expense is not a Subsidy

I agree with these, Malibu is "OK" but the Impala was way better!
I'm not a tax lawyer or anything, but I'm guessing that all business expenses are deductible to an extent but not all are complete write offs. You're a supplier right, I'm assuming that you're not able to completely write off your raw material purchases to make your parts. That is in essence the benefit that some oil companies get where they can completely write off the costs of obtaining their sellable product....unless they're not able to and I'm misreading their tax advantages.

And the Malibu is pretty mediocre, it's the American Altima
 

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Depreciation works against business, not for business, in that business spends the cash upfront for the equipment.. or digging the well, but cannot take the expense immediately but over time.. in essence, the Government is denying business a legitimate deduction for money already spent To expand the business.
 

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Which I quickly replied..........
With complete and total nonsense.

BTW Oil & Gas is allowed to claim depreciation in 1 year while everyone else does it over 10-20 years. That is a subsidy.

A lot of smaller firms don't last 10 years. They game the system, declare bankruptcy, and then leave clean up of their dirty operations to the government.
 

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With complete and total nonsense.

BTW Oil & Gas is allowed to claim depreciation in 1 year while everyone else does it over 10-20 years. That is a subsidy.

A lot of smaller firms don't last 10 years. They game the system, declare bankruptcy, and then leave clean up of their dirty operations to the government.
you clearly have never ever started a busines.
 

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I'm done with this topic as far as the "argument" with supermoto is concerned, but in the spirit of being factually accurate, I'll point out that buying land and exploring/drilling is capex and not an expense. Capex can't be expensed as a general rule.
It sure is deductible, just like the lawnmower and truck in my prior example; it is an expense .............


Capital Expenses
A capital expenditure is incurred when a business spends money, uses collateral, or takes on debt to either buy a new asset or add to the value of an existing asset with the expectation of receiving benefits for longer than a single tax year. Essentially, a capital expenditure represents an investment in the business. Capital expenses are recorded as assets on a company's balance sheet rather than as expenses on the income statement. The asset is then depreciated over the total life of the asset, with a period depreciation expense charged to the company's income statement, normally monthly. Accumulated depreciation is recorded on the company's balance sheet as the summation of all depreciation expenses, and it reduces the value of the asset over the life of that asset.
 
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I'm not a tax lawyer or anything, but I'm guessing that all business expenses are deductible to an extent but not all are complete write offs. You're a supplier right, I'm assuming that you're not able to completely write off your raw material purchases to make your parts. That is in essence the benefit that some oil companies get where they can completely write off the costs of obtaining their sellable product....unless they're not able to and I'm misreading their tax advantages.

And the Malibu is pretty mediocre, it's the American Altima
Sure you are, it's money you spent to build the parts, material not used is written off as scrap or eventually as obsolete inventory after the manufacturing need is gone.
 

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With complete and total nonsense.

BTW Oil & Gas is allowed to claim depreciation in 1 year while everyone else does it over 10-20 years. That is a subsidy.

A lot of smaller firms don't last 10 years. They game the system, declare bankruptcy, and then leave clean up of their dirty operations to the government.
When is the last time $CVX or $XOM went Bankrupt?
 
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I'm done with this topic as far as the "argument" with supermoto is concerned, but in the spirit of being factually accurate, I'll point out that buying land and exploring/drilling is capex and not an expense. Capex can't be expensed as a general rule.
It sure is deductible, just like the lawnmower and truck in my prior example; it is an expense .............


Capital Expenses
A capital expenditure is incurred when a business spends money, uses collateral, or takes on debt to either buy a new asset or add to the value of an existing asset with the expectation of receiving benefits for longer than a single tax year. Essentially, a capital expenditure represents an investment in the business. Capital expenses are recorded as assets on a company's balance sheet rather than as expenses on the income statement. The asset is then depreciated over the total life of the asset, with a period depreciation expense charged to the company's income statement, normally monthly. Accumulated depreciation is recorded on the company's balance sheet as the summation of all depreciation expenses, and it reduces the value of the asset over the life of that asset.

And to close this out..........

By charting the decrease in the value of an asset or assets, depreciation reduces the amount of taxes a company or business pays via tax deductions. A company's depreciation expense reduces the amount of earnings on which taxes are based, thus reducing the amount of taxes owed.
 

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FWIW:
I suck at "accounting" I'm pretty good at "tax" & "business finance" and a master at "personal finance".

;)
 

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It sure is deductible, just like the lawnmower and truck in my prior example; it is an expense .............


Capital Expenses
A capital expenditure is incurred when a business spends money, uses collateral, or takes on debt to either buy a new asset or add to the value of an existing asset with the expectation of receiving benefits for longer than a single tax year. Essentially, a capital expenditure represents an investment in the business. Capital expenses are recorded as assets on a company's balance sheet rather than as expenses on the income statement. The asset is then depreciated over the total life of the asset, with a period depreciation expense charged to the company's income statement, normally monthly. Accumulated depreciation is recorded on the company's balance sheet as the summation of all depreciation expenses, and it reduces the value of the asset over the life of that asset.
Expense the depreciation, yes, but not expensed against profitable assets as you said earlier. And you know why depreciation is an expense, and anything that doesn't match the intent of that is a subsidy. And we are back to square one.
 

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:ROFLMAO:
As Ronald Reagan once said, "Nothing lasts longer than a temporary government program."
It won’t happen. In fact, nothing of any significance will happen in the next 3 years, except the Republicans winning back in Congress in 2022.
 

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Expense the depreciation, yes, but not expensed against profitable assets as you said earlier. And you know why depreciation is an expense, and anything that doesn't match the intent of that is a subsidy. And we are back to square one.
I think you misinterpreted what I was saying; if you have 2 Oil Sites (or Burger King Restaurants) and one makes gobs of money and the other one loses, gobs of money, when a business files taxes, it is all combined; the losses of "Site A", go against the profits of "Site B". That was my point, which, boiled down is that......................... all (legitimate business) expenses are deductible, for every business, (Of course some treated different than others).
 

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I think you misinterpreted what I was saying; if you have 2 Oil Sites (or Burger King Restaurants) and one makes gobs of money and the other one loses, gobs of money, when a business files taxes, it is all combined; the losses of "Site A", go against the profits of "Site B". That was my point, which, boiled down is that......................... all (legitimate business) expenses are deductible, for every business, (Of course some treated different than others).
Agreed on that. I was specifically referring to your "buy a piece of land and dig for oil, that isn't productive, I get to offset those expenses" comment (which is what I quoted and highlighted above). The cost of buying land, digging for oil etc. are not expenses. Those are capital expenditures and cannot offset profits or be expensed.
 
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