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Home -> Community -> Mailing Lists -> Oracle-L -> RE: OT -- training
I know in Canada that some high-paid executives have "farms" in rural areas (ahem, cottages really) where they grow forage, seed, or raise a couple of sheep, rabbits, a few pigs, some chickens, or one cow. All for tax deductions of course. It helps if the farm is near a lake.
Another good one is "horse farm". There is a particularly big one in Ontario that specializes in horse racing... and never makes a profit. Ha ha ha ha ha ha...
This is my opinion, of course. But I saw many of these when I used to enter farm tax records for Statistics Canada years ago.
Regards,
Patrice Boivin
Systems Analyst (Oracle Certified DBA)
-----Original Message-----
From: tday6_at_csc.com [SMTP:tday6_at_csc.com]
Sent: Tuesday, August 14, 2001 3:44 PM
To: Multiple recipients of list ORACLE-L
Subject: RE: OT -- training
I guess that we'll let the IRS sort this one out. Your friend is
probably
right and I was probably overly emphatic when I said that you MUST
show a
profit sometime. But I would rather not leave it up to the IRS to
decide
whether it is a business or a hobby.
"Post, Ethan"
<epost_at_kcc.co To: Multiple recipients
of list ORACLE-L
m> <ORACLE-L_at_fatcity.com>
Sent by: cc:
root_at_fatcity. Subject: RE: OT --
training
com
08/14/2001
01:17 PM
Please
respond to
ORACLE-L
Actually I talked to a friend who is pretty knowlegable about this
stuff
and
he says that what it will really come down to is intent. The IRS is
not
going to call your business a hobby if it is in fact unquestionably
a
business, even if it has lost money for a period of years. - E
>-----Original Message-----
>From: tday6_at_csc.com [mailto:tday6_at_csc.com]
>Sent: Tuesday, August 14, 2001 7:41 AM
>To: Multiple recipients of list ORACLE-L
>Subject: RE: OT -- training
>
>
>Check with your tax advisor again or get a new tax advisor. I
don't
>remember the exact details but you MUST show some tax-able profit
for a
>certain number of years out of every so many years (eg, 1 year
>out of the
>last 4 - I'm not sure that those are the right numbers) or the IRS
will
>decide that your "business" is just a "hobby" and force you to
>go back and
>give up all your business deductions. It doesn't have to be a
>huge profit,
>but it does have to be a positive number.
>
>
>
>
> lhoska_at_calibr
>
> esys.com To: Multiple
>recipients of list ORACLE-L
> Sent by:
><ORACLE-L_at_fatcity.com>
> root_at_fatcity. cc:
>
> com Subject: RE: OT
>-- training
>
>
>
>
> 08/13/2001
>
> 06:05 PM
>
> Please
>
> respond to
>
> ORACLE-L
>
>
>
>
>
>
>
>
>
>I've heard from my tax adviser your business doesn't have to show
any
>profit
>for number of years after opening. I suspect even then it is
>not required.
>What if you having hard time making profit? It doesn't mean
>you have to
>close your business...I assume in that case you can also register
as a
>non-profit organization. Are tax breaks better for
>non-profits? I don't
>know..
>Also, if you don't already know.. some training companies
>(Learning Tree
>International per example) won't even register you for class
>if you're an
>individual. You have to be a corporation.
>Lyuda
>
>-----Original Message-----
>Sent: Monday, August 13, 2001 3:42 PM
>To: Multiple recipients of list ORACLE-L
>
>
>You could create a web site that features some technical
>materials and use
>it to advertise your services if you are willing to moonlight on a
few
>jobs,
>just enough to turn a profit within a couple years. Then I
>would presume
>you would have no trouble writing the training off as a legitimate
biz
>expense.
>
>- Ethan
>- http://www.geocities.com/epost1
>
>>-----Original Message-----
>>From: Ron Rogers [mailto:RROGERS_at_galottery.org]
>>Sent: Monday, August 13, 2001 11:42 AM
>>To: Multiple recipients of list ORACLE-L
>>Subject: Re: OT -- training
>>
>>
>>Patrice,
>> There is "resistance" to any training that I feel is
>>necessary to further my knowledge and/or enhance my
>>understanding of the Oracle processes. Even though I have
>>money in the budget for such items I have to submit a business
>>case defining the gains to the company and after completing
>>the course with a passing grade the company will reimburse me
>>the expenses for the course only. I also have to sign a waver
>>that I will pay the company back the full cost of the course
>>if I leave their employment before 365 days. Needless to say I
>>pay for everything myself and hope to write it off on taxes if
>>they ever get the bill signed into law.
>>ROR mª¿ªm
>>
>>>>> BoivinP_at_mar.dfo-mpo.gc.ca 08/13/01 11:46AM >>>
>>Just out of curiosity, how many days / weeks of real training did
your
>>employer provide you with in the last couple of years?
>>
>>"real" is in quotes, I don't mean the little 1 - 3 day
>>seminars given by
>>CareerTrack and other "training" companies, or
>>management-related stuff like
>>little MBA-flavoured certificates from universities.
>>
>>Oh, and did the amount of training you received match what you
>>were told
>>during your job interview?
>>
>>Regards,
>>Patrice Boivin
>>Systems Analyst (Oracle Certified DBA)
>>
>>Systems Admin & Operations | Admin. et Exploit. des systèmes
>>Technology Services | Services technologiques
>>Informatics Branch | Direction de l'informatique
>>Maritimes Region, DFO | Région des Maritimes, MPO
>>
>>E-Mail: boivinp_at_mar.dfo-mpo.gc.ca
<mailto:boivinp_at_mar.dfo-mpo.gc.ca>
>>
>>--
>>Please see the official ORACLE-L FAQ: http://www.orafaq.com
>>--
>>Author: Boivin, Patrice J
>> INET: BoivinP_at_mar.dfo-mpo.gc.ca
>>
>>Fat City Network Services -- (858) 538-5051 FAX: (858)
538-5051
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Lists
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may
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subscribing).
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>>--
>>Please see the official ORACLE-L FAQ: http://www.orafaq.com
>>--
>>Author: Ron Rogers
>> INET: RROGERS_at_galottery.org
>>
>>Fat City Network Services -- (858) 538-5051 FAX: (858)
538-5051
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Lists
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subscribing).
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>
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>Author: Post, Ethan
> INET: epost_at_kcc.com
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> INET: tday6_at_csc.com
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--
Author: Post, Ethan
INET: epost_at_kcc.com
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San Diego, California -- Public Internet access / Mailing
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--------------------------------------------------------------------
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--
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INET: tday6_at_csc.com
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San Diego, California -- Public Internet access / Mailing
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--------------------------------------------------------------------
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--
Please see the official ORACLE-L FAQ: http://www.orafaq.com
--
Author: Boivin, Patrice J
INET: BoivinP_at_mar.dfo-mpo.gc.ca
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San Diego, California -- Public Internet access / Mailing Lists
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Received on Tue Aug 14 2001 - 14:06:42 CDT
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