can I write off a busted grow?

[hoosierdaddy]

In some states there are MJ tax stamp laws.
In Kentucky, you must purchase and affix a tax stamp to your grow.
The cost is $3.50 per gram if you grow less than 42 grams.
$1000 per plant for growing 5 or more plants.
The penalty for not purchasing the tax stamp is 200% of the tax plus interest.
It also tacks on another class C felony charge.

 

[hoosierdaddy]

Claim gambling losses. Need to go to the track and pick up loser tickets to show losses if you get audited. Pick up shoe boxes full of them in no time at all.

Claiming losses from an herb grow would just be stupid, IMO.

 

[Guest]

Claim gambling losses. Need to go to the track and pick up loser tickets to show losses if you get audited. Pick up shoe boxes full of them in no time at all.

Claiming losses from an herb grow would just be stupid, IMO.

My views exactly.

2cool2: That is a crazy story man. I'm glad you blasted 2/3 of those fucks. Was the boyfriend one of the ones you got?

 

[Breeder Betty]

You mos def broke rule #1. Sorry.

 

[EatShitake]

Aww shit P. Sorry to hear of your predicament.

You're asking H&R Block type questions when you should really be going to see a real tax attorney, though. I don't think your first consultation would cost much, it gives you a chance to get a feel for each other. Don't be afraid to file for an extension...you'll get 'til August 15 to present your return, with interest, of course if you owe.

 

[LiLWaynE]

i knew i heard it was possible... so i found this info on wikipedia:


Deductible expenses in illegal activity - the general rule

While embezzlers, thieves, and the like are forced to report their ill-gotten gains as income for tax purposes, they may also take deductions for costs relating to criminal activity. For example, in Commissioner v. Tellier, a taxpayer was found guilty of engaging in business activities that violated the Securities Act of 1933.[7] The taxpayer subsequently tried to deduct from his gross income the legal fees he spent while defending himself.[8] The Supreme Court held that the taxpayer was allowed to deduct the legal fees from his gross income because they meet the requirements of §162(a).[9], which allows the taxpayer to deduct all the “ordinary and necessary expenses paid or incurred during the taxable year in carrying on a trade or business.”[10] The Court reasoned (and the Internal Revenue Service did not contest the point) that it was ordinary and necessary for a person engaged in a business to expect to have legal fees associated with that business, even though such things may only happen once in a lifetime.[11] Therefore, the taxpayer in Tellier was allowed to deduct his legal fees from his gross income, even though he incurred the fees because of his crime. The Tellier court reiterated that the purpose of the tax code was to tax net income, not punish unlawful behavior.[12] The Court suggested that if this was not the case, Congress would change the tax code to include special tax rules for illegal conduct.[13]


Expenses that are not deductible
Deductions relating to unlawful conduct may be disallowed when to allow them would sharply frustrate a national or state policy prohibiting such conduct.[14]

Congress may impose specific provisions that prohibit deductions in connection with illegal activity or other violations of law. No deduction is allowed for fines or similar penalties paid to a government for the violation of any law.[15] Internal Revenue Code section 280E specifically denies a deduction or credit for any expense in a business consisting of trafficking in illegal drugs "prohibited by Federal law or the law of any State in which such trade or business is conducted."[16] Similarly, no business deduction is allowed "for any payment made, directly or indirectly, to an official or employee of any government [ . . . ] if the payment constitutes an illegal bribe or kickback or, if the payment is to an official or employee of a foreign government, the payment is unlawful under the Foreign Corrupt Practices Act of 1977."[17] Similarly, tax deductions and credits are denied where for illegal bribes, illegal kickbacks, or other illegal payments under any Federal law, or under a State if such State law is generally enforced, if the law "subjects the payor to a criminal penalty or the loss of license or privilege to engage in a trade or business."[18] No deduction is allowed for kickbacks, rebates, or bribes made by those who furnish items or services for which payment may be made under the Social Security Act.[19]

 

[Thule]

this is sadly becoming a reality in todays society, home invasions!

I find it strange that nobody in this thread sees anything wrong about shooting people. What the hell is wrong with people?

 

[Thule]

I'm sorry. I can't let someone put a gun to my wifes head.

Not if there is anything I can do to stop it.

What I did was to stop an armed robbery in progress.

Oh it was an armed robbery, missed that. I thought it was just a bunch of teenagers..

Still, you do have too much guns in the U.S and you're way too willing to use them.

 

[hoosierdaddy]

Still, you do have too much guns in the U.S and you're way too willing to use them.

That is simply a bullshit perception of yours.
I suggest critiquing your own country.

 

[Thule]

That is simply a bullshit perception of yours.
I suggest critiquing your own country.

Well what do you get when you let cowboys colonize a continent?

I might aswell criticize my own country. "We" have almost as much guns as you in relation to our population. We just use them for suicides and killing animals. It's better that way imo. YOU CAN'T JUST GO KILLING PEOPLE FOR TRYING TO STEAL SOME PLANTS.

Where's your respect for life? I bet those robbers have mothers and girl friends just as you do..

 

[Pig-Pen]

My old caregiver.. had a 40 plant operation.. ripped.
Security systems or a mean ole dog... for example
Good guard dog..

That's just uncalled for, that's fucking creepy!

 

[Daemon]

Well what do you get when you let cowboys colonize a continent?

I might aswell criticize my own country. "We" have almost as much guns as you in relation to our population. We just use them for suicides and killing animals. It's better that way imo. YOU CAN'T JUST GO KILLING PEOPLE FOR TRYING TO STEAL SOME PLANTS.

Where's your respect for life? I bet those robbers have mothers and girl friends just as you do..

Oh good lord.....I don't like guns at all, but you bet your ass I would shoot someone if they were trying to rob me. I don't care what they were taking, whether it be plants or jewelry or whatever, if they threaten me or my family then they will be met with equal force. What's wrong with that?

 

[Sad247summer]

Thule When those pple decided to put their lives @ risk to "steal some plants" they took the risks and got the consequences. They Gave his house/belongings/family way less respect than he showed them. IMO
On a diffrent note so are the expenses are writeoff able?

 

[hoosierdaddy]

Well what do you get when you let cowboys colonize a continent?

I could rebut by saying that intelligent people were to ones who left to colonize a new land in search of a truly free society, leaving the less than learned behind to procreate in socialized stagnation and oppression. But that would put me on an ignorant level that you clearly occupy. So, I will simply leave you to your unfounded hatred and ignorance.

 

[Duke_]

ya up here to the north of the US.. we arent trigger happy like our southern neighbour..

 

[Thule]

There's something seriously wrong about you people. Exept for the canadian guy

Who gives you the right to decide wether or not a robber deserves to live or die?

You as a people have no moral if you really think shooting people is okay. I won't waste any more of my time educating ignorant people like you. Have a good life.. don't get shot!

 

[Thule]

I could rebut by saying that intelligent people were to ones who left to colonize a new land in search of a truly free society, leaving the less than learned behind to procreate in socialized stagnation and oppression. But that would put me on an ignorant level that you clearly occupy. So, I will simply leave you to your unfounded hatred and ignorance.

I won't even bother correcting your factual errors. Truly free society, huh? I bet you don't even know who the settlers were and why they came.

 

[salgjkhaf]

the most fucked up part is that in our backwards ass society is that the robbers can come back and sue the people they were robbing for shooting them! what happened to self defense in this country? lawmakers (and thule) are just pussies nowadays



and yeah i watched the videos and this is exactly what i'm talking about. our backwards ass society.

 

[hoosierdaddy]

Who gives you the right to decide wether or not a robber deserves to live or die?

The robber made that decision when he held a gun to the head of the man's wife.

Have you even been to America, Jr? I highly doubt it.
This can only turn worse, as you are obviously an ignorant ass. So again, I will leave you with your ignorance, as well as your fantastic spelling and grammar.
(very telling, btw)

 

[2cool2]

Believe it or not i had never told anyone else about what happened because i couldnt believe it and i really feared for my life and freedom after it happened. i live in the USA where the divide between wealthy and poverty is so large people unfortunately do things they normally wouldnt do. That is still no excuse to invade another mans castle! Yes my castle is my home and if you violate my civil rights u have made a very very very bad decision (not only tip top of the line security system including cameras 2 hunting/guard/family dogs). Taking someones life is the absolute last thing i would ever want to do, I would rather give u it all everything, but my Life! and most of these douchebags out here robbing dont possess any morals, values, and will kill after u give it all to them!